Flipping Homes For Profit
If you watch TV at all then you’ve probably run into a show or two about flipping homes. The number of these shows seems to be getting larger. That being said, flipping houses has been going on for centuries. But is it really as easy as reality television makes it seem? Can you go and buy any house, remodel, and sell it again?
- Find a house — The first step is to locate a likely piece of property. Like the old adage says, “buy low, sell high”. Look for a property which you could potentially renovate and sell.
- Look at the figures — Keep your budget in mind. Is the purchase price and renovation cost going to allow you enough to make a good profit? Count your time and liability in that!
- Purchase the property — At this point you’ll actually buy the house. You can very often get a better deal by purchasing a home facing foreclosure, bank property, or one that’s been on the market for a while. Once you’ve decided for certain that you want to buy the house, it’s time to talk to the Realtor or person selling the house.
- Renovate — Is this your first flip? Do you have a renovation team in place like the flipping shows? Your goal is to do the job right, at the least amount of cost and be able to sell as quickly as possible at the highest price. Cosmetic changes, rather than large scale remodeling can often be enough. Keep neutral colors for the walls, without making the house look too bland. Don’t fall into the trap of making it look like the house you’d want to live in… This house is not for you. It has to as many purchasers as possible. Be mindful of your budget.
- Reselling — After you finish renovations, it’s time to put the property up for sale. There are quite a few different theories as to the best way to sell, varying from eBay to newspapers. It’s up to you to decide which way to put your property on the market. Then it’s a time to wait till you get an offer. Don’t be afraid to strike a bargain, so long as you make a reasonable profit.
- Close the deal — Congratulations! You’ve just complete your first flip.
Sound simple? There is a lot of planning and hard work involved in being a successful flipper. The potential riches it can bring though are enticing, and with some guidance and thoughtful planning, you can join the flipping craze. We can help, and can be involved as much or as little as you’d like us to be.
We do this for a living. We can help you make a living out of it too. We can help you find the best ‘flippers’. We can help you avoid the pitfalls and maximize your wins.
You can spend thousands of dollars on attending a Real Estate Conferences, trainings, software, seminars, etc…. Or, you can work with us. We’ve been very sorry to see people spend $30,000 or more on trainings but not even know the first thing about how to start. If they had known about us, we could have used that $30,000 and gotten them into their first deal.
You’ve heard of; Than Merrill, Robert Kiyosaki, Rhea Perry, and many others, while they all have great lessons to teach you, the money you spend on learning from could have instead been spent on actual real estate deals. We’ll walk you through the process. No special fees involved in having us help you. If you are seriously thinking about Real Estate talk to us before you spend thousands of dollars on training.
You have the opportunity to learn from successful Real Estate investors that won’t charge you your life savings with the hope of getting deals. We have the experience and know how, and provide a mentor who can help your through the process with a shorter and much less expensive learning curve.