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<blockquote data-quote="money_pit_yj" data-source="post: 563321" data-attributes="member: 7710"><p>We have some friends who flip houses, they made good money for two years, made one bad decision and wiped out 18 months worth of work. They are still ahead and it is a second job to them but it is a time consumer. It is a risk vs reward situation. If you are ok with risk, flipping houses is a good way to make some money. If you are risk averse then it is probably best to find a more stable way to make extra money.</p><p></p><p> The problem with rental houses is that money is cheap right now and banks are freeing up mortgages so they can drum up business. Historically, renting is not as desirable as owning; however with the value of the dollar increasing and interest rates creeping up, it may be a good time to get into rentals so you are able to capitalize if interest rates get back to 7 or 8 and people have to resort to renting again. I think the trick is to remain committed to whatever you do and not chase easy money. There is always a good stable business like day trading?</p></blockquote><p></p>
[QUOTE="money_pit_yj, post: 563321, member: 7710"] We have some friends who flip houses, they made good money for two years, made one bad decision and wiped out 18 months worth of work. They are still ahead and it is a second job to them but it is a time consumer. It is a risk vs reward situation. If you are ok with risk, flipping houses is a good way to make some money. If you are risk averse then it is probably best to find a more stable way to make extra money. The problem with rental houses is that money is cheap right now and banks are freeing up mortgages so they can drum up business. Historically, renting is not as desirable as owning; however with the value of the dollar increasing and interest rates creeping up, it may be a good time to get into rentals so you are able to capitalize if interest rates get back to 7 or 8 and people have to resort to renting again. I think the trick is to remain committed to whatever you do and not chase easy money. There is always a good stable business like day trading? [/QUOTE]
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