My friend bought 2 houses around 1989 to flip for profit with her sister who was an agent. Houses went up 10% in few months, but they wanted at least 20%. So, they did not sell. Around 1990, houses started to fall and they could not even sell for break even. They rented out for loss a few years and tired of it. They sold with big loss in 1997. After that lesson, they never flipped or invested in real estate any more, except their primary residents.

I think it’s not nice and a kind of insane to flip houses since houses are basic living requirements for everybody, but not luxury! I do believe in karma.