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Unit 4 Group Project for Advanced Entrepreneurship

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Submitted By suburbanmomma
Words 1841
Pages 8
American InterContinental University
MGMT 422-1301A-01: Professor William Becker
March 10, 2013

Abstract
This project will discuss the market of flipping houses, its industry, and how our service will be different from the competition. We will also discuss what kind of approach we will be using, the intrapreneurial approach, or the entrepreneurial approach.

Flipping Houses
Introduction
Our new service is that of flipping houses. In order for one to better understand what this means, it is for someone to buy a house, fix it up, and then to resell it at a much higher price than what it was bought for (Flipping Houses, 2013).
Market
Flipping houses in today’s real estate market may look to be very risky; however, people that actually do this are finding lots of opportunities, but with a lot of risk. People feel that trying to flip homes with our economy would be a bad idea. On the contrary, this would prove to be the best time to do so (Moore, n.d.). Because so many homes are ending up in foreclosure, real estate investors are finding bargains all over the place, especially in Florida, Nevada, and California (Moore, n.d.).
House flipping has made a huge comeback over the last four years, and because of this, more and more investors are going to public auctions of foreclosed homes. When the housing boom was popular, lots of people were aiming to make some money, so they bought and then resold homes. However, this type of house flipping dissolved several years back due to the stalling of home sales. Presently, a new type of home flipper has emerged, one that is looking for a bargain in foreclosure auctions (Hagerty, 2013). Different from the boom-time house flippers, the newest generations are in need of cash, local-market wisdom, and nerves of steel, if you will.
Lots of times, investors will emulate with

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