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Originally Posted by Shipping up to Boston
Not disagreeing.....but question, isn’t investor a little ambiguous? Couldn’t a flipper be an investor as well?
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Sure. I was including myself. Like I stated several times, we are currently renting. We invested our profits and they are earning nice interest. With high interest rates, it is easy for investors to get out of a downward/stagnate real estate market and simply place the money into an interest bearing account.
I did not start with the intention to flip homes. I am a contractor. My wife and I bought a home in TV, 18 years ago. We believed this would be our forever home. I did all the labor of finishing our home to our liking. My wife is in real estate. She came home one day excited. "You are never going to believe what so and so got for his home!" Next day, our home was listed for sale.
Made a sizable profit, then bought what we were certain was our forever home, and fixed it to our liking. Wife comes home excited. Again! Sell, move, sell, move. We have been doing this for many years. This is the first time both of us are seeing many red flags in real estate so we are renting. Playing the better-to-be-safe than sorry route.
There are many types of investors in TV. We fell into it. This has happened with many residents. It is too hard to turn down a sizeable offer for your home. Take the money and run! Unfortunately, we think the well has dried up. {But, keeping our fingers crossed we are wrong. We enjoy decorating and fixing up houses)