If you watch home-and-garden cable channels, it looks like everyone is flipping houses. i.e. buying a piece of real estate, making minor repairs, and quickly selling it at a substantially higher price. Basic investing 101: Buy low, sell high. Certainly sounds appealing--and you may be tempted to join the ranks of those who have been successful in this field. Be forewarned, however, that like most money-making endeavors, flipping requires time, money, patience and skill. For tips on how to begin, steps to follow, and advice on how to avoid pitfalls, read on… Do your research and be knowledgeable well in advance: Talk to (and learn from) successful flippers, read up on the subject, follow real estate deals in the newspaper, use the Internet as a teaching resource, attend open houses and...
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