Monday, January 07, 2013
I had some weird dreams last night. It must have been those spicy chicken wings I had for dinner. Ever hear of "house flipping"? It a way of making money, done by people who purchase an old, run-down home, renovate it, and sell it for a nice profit. Sometimes, they can fund their purchase with a nice 203k loan or from the profit from their previous "flip." I have often considered getting into such a business. I LOVE old homes (I have always lived in old homes) and I'm pretty handy with the hammer and electrical cabling.
But my dream was about house flipping, reality-style. Yeah, the house flipped. Over.
I wish I could remember all the details... the house was shaken off its foundation and fell over into a heap on the ground. WEIRD. I then dreamed I wandered through an old home I once lived in as a little girl. It had changed somewhat, and had been put on the market. In the dream, I was considering a homepath deal and buying the house. Then I woke up.
House flipping -- the "real" kind -- does have some appeal. But I think I'm too old now to be a house flipper. Lord knows, there's a ton of decrepit old homes around here that need repair, but I think the selling part would be the most difficult. A local company tried house flipping in the city and it hasn't turned out as profitable as they liked.
Clark Howard (the affable radio financial/thrift geek) says that now is a good time to buy a home. I was flabbergasted, actually. Doesn't it matter that the economy is kind of shaky? But Howard says its a great time to buy because people are eager to sell. And I can imagine that people are probably relocating to new areas for better job opportunities. That's been tossed around a lot, here in Upstate New York... it
s becoming more and more difficult to make ends meet in Upstate. I admit, I am nervous about the future. For forty years, everyone and their mother have been clamoring for more "change" but nothing ever happens. It's discouraging. On the other hand, one man's trouble is another man's treasure. Who knows, maybe NYS will get some real flippers who can turn everything around here....