At one point, I believed that there was a great deal of money to be made in flipping houses.
I looked for properties located on the fringe of up-and-coming neighborhoods that were in need of some repairs.
I am handy enough to install new drywall, replace outlets, install lighting fixtures, update plumbing fixtures and paint. I successfully managed several projects, sold the homes and made a decent profit. I then purchased a home that was a bit more expensive and situated in a more favorable neighborhood. I got a really great price on the home, but it required extensive renovation. As I got into the project, I found that the electric lines and plumbing were not up to code. Quite a bit of remodeling had already been done on the house without permits. I discovered that the swimming pool leaked so badly that the water level dropped several inches every day. The roof had been patched and new layers added so many times that the whole thing needed to be torn off and replaced. There were issues with the floor sagging and termite infestation. The job was way beyond my capabilities. When I added up the cost of hiring professionals as well as my own time and labor, there was no possibility of making a profit. I needed to find a way out from under the house as quickly and painlessly as possible. A cash buyer was the answer. I went online and found a company that buys all conditions of properties within the Jacksonville area. There is no need for a home inspection, repairs or proof of permits. The entire process was completed in under two weeks.