What are the various timelines for flipping a property?

What are the various timelines for flipping a property?

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 three different flipping paths. One is slow-and-steady, which is buy property, move into it for two years, fix it up and sell it in two years. In two years you're going to live in it and sell it and be able to take advantage of the tax advantages. Then sell it, take your profits and buy another one and live in it for another two years. Continue to do that for four or five times. After that, you'll eventually be able to buy that fourth of fifth house for cash because of the money from the profits you've accumulated. That's one path, another path is buy a house, fix it up, flip it, sell it and then get into the next one. You've done it, you've gone through the process, you understand. Now maybe the next one, stay in for two years. There is no set way you have to do it. The beauty of flipping property is you can do it one after another or you can do them slowly, every two years, every three years. The trick is, do it, get your first one done and under your belt, understand the process.