What's the future for condo flippers ?

[Jeeper12]

Robert Kiyosaki's on-line column today titled, "The Rich get Richer" offered some interesting insight about the state of the market for condo flippers, as well as the prospects of those who follow. He seems to be speaking to the current condition of the overheated primary and coastal markets but I think many of his points are relevant to where we Nashvillians find ourselves today.

I don't think I'm supposed to post it but it's easy enough to google.

[Jeeper12]

Robert Kiyosaki's on-line column today titled, "The Rich get Richer" offered some interesting insight about the state of the market for condo flippers, as well as the prospects of those who follow. He seems to be speaking to the current condition of the overheated primary and coastal markets but I think many of his points are relevant to where we Nashvillians find ourselves today.

I don't think I'm supposed to post it but it's easy enough to google.

Sorry, the column title is "How to Profit From a Cooling Real Estate Market" not "The Rich get Richer"; that's a book he wrote.

[rocky top buzz]

My opinion with condo's is like any financial investment: You will make money on it as long as you are planning LONG TERM. Sure, there are periods like early this decade where you can make a quick buck, but that is the exception not the rule.

[pturbo]

My opinion with condo's is like any financial investment: You will make money on it as long as you are planning LONG TERM. Sure, there are periods like early this decade where you can make a quick buck, but that is the exception not the rule.

I think you are exactly right there.

If you buy a new condo in Nashville right now, I think you are buying in at the top of the market and will have to wait a while to see a return on your money. I don't see people buying in at $350/sqft and getting out at $450. The demand is there for condos, but the supply right now is adequate for almost anyone to buy in at regular prices and not only a flipped unit due to oversubscription.