Flipping Real Estate In Down Market

Added December 15, 2006 by Ilyce R. Glink

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Summary: What should you do when you were into flipping real estate and it's no longer profitable? Flipping real estate is less profitable when home market values go down. When the real estate market declines you should do your best to continue making mortgage payments so your credit doesn't get damaged.

Q: How do we deal with vacant land that was supposed to flip, has lost value and continue to make payments on?

I'm sure many people are grappling with this problem.

A: All you can do is keep making your payments in order not to damage your credit. While that seems tough, perhaps this down cycle in local real estate won't last through next year and the value of your land will bounce back.

Dec. 15, 2006.

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