Is buying and selling houses a good way to become rich?

[annhideDD]

Is buying and selling houses a good way to become rich?

[Blandry333]

Sure, but you would have to be good at it, and it would greatly help if you had a real estate salesman’s license.

There are people and companies that earn their income flipping houses. But a good chunk of potential profit would be lost in a 6% realtor fee getting into a house deal, and another 6% coming out of it.

[annhideDD]

I wanna sell my second house!

This house had additions put on it at least three times several decades before we purchased it. These additions were done with varying degrees of skill and good design.

An aspect of the design are the number of steps in the house. It is 6 steps just to get in from the ground floor patio. Going upstairs is another 13 steps. Once you are upstairs, the goofy way some of the additions were done has resulted in 5 different levels, from the two steps required to get in two of the bedrooms up there to a 2″ difference in level within the upstairs bath. Yea, weird. The number of steps in this house is not very conducive to easy transit by an elderly person with mobility issues. My wife and I aren't there yet, but it is certainly conceivable eventually.

[RenoMa]

Real estate is a common business in which some get rich and others go bust. Therefore, here you can answer that yes, you will become rich if you are a good merchant.