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How Not to Flip Out When Flipping a House

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If you’re among the many people who watch television programs such as “Flip or Flop” or “Flipping the Block” and think you can become a master flipper yourself, you’re not alone.

“The best opportunities are not found; they are created,” says Scott McGillivray, host of HGTV’s “Income Property” and “Flipping the Block” and a spokesperson for Owners.com, an online real estate brokerage. “I probably make 10 offers for every one that’s accepted, because I know if I pay market price for a property there won’t be enough profit at the end. What’s nice is that unlike when you’re buying your own house, you’re never desperate as an investor. You can walk away if the price is too high.”

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