http://www.msn.com/en-us/money/real-estate/house-flipping-heats-up-creating-home-price-pressure-cooker/ar-BBtMlZA?li=BBnbfcN
In Collier Co there are not many good buys right now to flip. I rarely find them for clients since our market has been increasing and foreclosures and short sales are down. TV makes it seem easy however you really need to know what you are doing and how to keep your renovation costs low in order to see the profits. Most people I encounter want a low end home to do this with where sometimes the most money is to be made with an older high end property but that means a bigger financial risk!
"While responsible home flipping is helpful for a housing market, excessive and irresponsible flipping activity can contribute to a home price pressure cooker that overheats a housing market, and we are starting to see evidence of that pressure cooker environment in a handful of markets," said Daren Blomquist, senior vice president at RealtyTrac.
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