What are the advantages of buying property for resale?

What are the advantages of buying property for resale?

Michael Corbett (Real Estate Expert) gives expert video advice on: What are the advantages of buying property for resale?; What are the financial dangers of buying property for resale?; What's the one thing I should consider before flipping property? and more...

One of the reasons that people get into flipping, one of the things is so fantastic about it, is that you are able to build a second revenue stream for yourself, which means you can do this part time - I was on a soap opera the whole time and I was flipping properties, so you can do it as a secondary income. And not only are you are able to then make a profit by buying the house, fixing it up then selling it, you will be able to take that money and roll it into the next one and do the next and the same thing. Then you can roll that money into the next so that you're literally building your real estate fortune. That's one advantage. The other advantage is the tax benefits of working in real estate. For example, buying a house, living in it for two years, fixing it up and then selling it. After two years, you walk away with 250 or 500,000 dollars tax free. There is no other investment in the world where you can do that.