My husband really wants to buy the house down the street, fix it up and flip it. He's never done anything like this before and I'm worried it's a bad time to take on this type of project anyway. Is there a way to talk him out of this without making me the bad guy?

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If it's for yourself, could work and it will take longer than you think.
If it's for selling, you really need to plan it through with material costs, time estimates, location average rate for that old a house, future developments in the area by the time you're done, account for weather delays during construction, recession in the economy and almost double the time estimate. The values on your 'well planned' excel should stave him off, go ahead if you both feel confident.

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This, plus the market to resell it is not great. Look at comps in the area, how long they've been on on the market and if they've had price drops.

We bought a house for ourselves needing a lot of work. It took double/ triple the amount of time we thought to get the work done. So we've had 2 mortgages while waiting to move in and now our old house has been on the market almost 2 months without offers.

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Make it real and get specific. Make sure he’s talking to those who are experienced in diy flips. It’s super time intensive, and not always lucrative. Consider the opportunity cost of your invested time and money and other things you could do with it. Hopefully you will feel more comfortable with the idea or he will choose a different mountain to climb.

Not sure of your hub’s age but mine hit 35 and felt a very strong urge to build something with his hands after years of a desk job. If that’s part of your man’s motivation, perhaps there’s smaller projects that could 1) scratch that itch, 2) practice the skills a house flip would require, and 3) improve your current living situation.

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Is he a fast learner and detail oriented? Does he have some basic understanding and experience with how the fundamentals in your current house work (plumbing, electrical, carpentry)? Is he super motivated and has he done research on ROI in your market to make it worthwhile? And most importantly does he love working with contractors? If yes to all of the above, maybe it’s not a bad idea.

If the answer is no to most of the above, you can show him some videos of contracting jobs gone terribly wrong.

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Btc buy trade going Red and Eth sell trade in Green. Both sides having green over all profit. Cheers

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Never a good idea if you are not a contractor. It might work at a certain time in the market cycle for a newbee but honestly it won’t be worth the time. You’re better off buying a property and renting it.

Buy it, fix it, then rent it out. I just bought a well done flip to rent out because they didn’t want to be landlords but the profit is good. That way no worry about economy.

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