I'd like to say even in this market this is still possible but you need to pick your situations correctly. We just made money is south florida in two months in this terrible market. Pick and choose wisely.

I think it is definitely possible to make a profit doing this. I did a fix-and-rent a year ago, and after a refinance, I have a nice chunk of equity and am cash flowing. I just purchased a property at auction, and I'll do the same thing with it. Keep in mind that there are a bunch of professionals doing this, so competition is stiff. The key is making your money on the purchase. You need to buy at wholesale prices and sell at retail. If you can't manage to get a property at 20% below retail (e.g. forclosure, auction, distressed seller), then your chances go way down.

KSluis - DueMinder

Hi,
The best thing and the smartest thing is to buy then sell. A smart thing to do is to buy something when the stock market or its price goes falls and then sell it when the stock market or when its prices rises. many people become rich like that.
Thank You and Feel Free to Ask Questions

Because of the market crash and the depressed economy, there's lots of bargains out there, and if yu've got some spare cash then moving into a incomplete house for the purposes of doing it up to sell it is less risky than buying a new place just to flip. If you take your time with the first one and be really hands on you'll learn a lot and the next time you'll be prepared.