How long should I hold a property that I want to flip?

How long should I hold a property that I want to flip?

Michael Corbett (Real Estate Expert) gives expert video advice on: What are the various timelines for flipping a property?; How long should I hold a property that I want to flip?; When is a good time to buy real estate to flip? and more...

There are lots of advantages and disadvantages to flipping quickly, or then selling and then holding. So there are lots of ways you can do it. It has to be a lifestyle choice for you. If you are doing this as a second revenue stream, then you can flip a property, and sell it, and keep doing it, whatever time permits. The only trick is when the markets fluctuate, which they do now, right now we are in a downward spiral, you don't want to be projecting too far in the future, because you don't know exactly what's going to happen in two years. We do pretty much know that in six months the market may be deflated by five percent, or may be inflated by five percent. You can usually most indicators give you a good six months overview. So it's hard to project out two and three years but make sure that if you do buy a property, that you have an exit plan for that property. Which means you can either choose to live in it if the market does go bad, or you can choose to rent it and cover it. Because you never want to be trapped buying a property and then being stuck with it and having to sell it. You want to know you can rent it or keep it for yourself.