Jim Nyquist Responds to New York Times "House Flipping" Criticism

NEW YORK, NY, May 15, 2012

In recent years, there has been much ink spilled on the subject of why the housing industry has taken such a dive--or at least, why it is less robust than it once was. Some experts say that it is simply the result of a tumultuous economy, but the New York Times has a different theory. In a recent article on the proliferation of "house flipping" TV shows, the publication muses that the decline in real estate sales may be directly related to the dim view that these TV programs take of real estate investment. Indeed, the Times piece declares that real estate-themed TV shows highlight the "horrors" that await real estate investors, and that perhaps these negative portrayals are what have scared would-be buyers away. According to real estate agent and house flipping expert Jim Nyquist, however, house flipping is actually something that should hold tremendous appeal to investors.

Nyquist, an Austin-based realtor who specializes in house flipping ventures, has released a press statement in which he agrees with the Times assessment of reality TV, but suggests that the TV trend should not dissuade investors who are keen to flip a house. The Times piece in question notes that it is "obvious that the housing market's plunge in recent years parallels the proliferation of shows whose main message is that only an idiot would buy a house."

Jim Nyquist, however, says that buying a house with the intention of flipping it can actually be a smart move. "The article actually highlights one of the prime reasons why house flipping is such a good investment, which is simply that prices are so low right now," he says. "An investor can get a home for very little money, either as a foreclosure or a short sale, or even at a tax auction, then put a little work into it and turn it for a solid profit."

The fact that every house has its share of "horrors" is just part of the territory, Nyquist says. "There is certainly a lot of truth to the fact that foreclosed, abandoned, and auctioned homes often need a lot of work," he says. "However, it is equally true that, in many cases, all it takes to spruce up a home is a fresh coat of paint and a good, thorough cleaning, all of which is relatively inexpensive to do."

The trick, Jim Nyquist says, is to do the research up front. "For anyone interested in flipping a house and avoiding the 'horrors,' the important thing is to do some research up front," the agent advises. "Paying for a good home inspection is a sound investment, and will help ensure that the property in question really can be flipped for a handsome profit."

ABOUT:

Jim Nyquist is, at 59 years old, a real estate professional with almost four decades of experience in the industry. A graduate of Minnesota State University - Mankato, the realtor currently lives and works in the greater Austin area. He specializes in short sales, foreclosures, and house-flipping ventures. Jim Nyquist is zealous for helping his buyers and investors find the best deals and obtain the most effective financing possible.

Website: http://jimnyquist.org