Vulture Investors are still Fix and Flipping

Denver Fix and Flip

Denver Fix and Flip

Even in these down times, there’s money to be made buying and flipping houses.

One might think this would be a most dangerous game — after all, home prices are down more than a third from their peak in most areas. But plenty of investors are taking the risk in exchange for big profits.

In fact, nearly 1 million homes were bought as investment properties in 2010, according to the National Association of Realtors.

“It’s absolutely viable,” said Perry Henderson, a real estate agent and investor in Austin, Texas. “But you have to buy intelligently and go after the right opportunities.”

Henderson helped one investor close a deal on a three-bedroom, two-bath house for $138,000 in Austin. His client is now selling the property for $188,000 after putting in $10,000 worth of repairs. Add in transaction costs and this investor is still making at least $20,000 in just a few weeks of work.

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