How to Buy and Sell a House

Make money flipping real estate!

The Real Estate gurus had to learn the hard way how to Buy and Sell Properties. Click here to discover the secrets YOU need to succeed in Flipping Real Estate!!

Flipping Houses - 10 Steps To Profit While Minimizing Risk 

People always need a place to live. As a real estate investor, you can provide this service by buying a distressed property, fixing it and selling it for a profit.

Flipping houses, otherwise known as Fix and Flip, is usually a short-term real estate investment strategy involving a quick turn-around and quick money. You will usually make the most profit flipping houses as you hold the highest risk, unlike wholesalers.

Time is the most important element to flipping houses because the clock is ticking and time eats money. You need the initial time to find properties and contract for repairs. You need time to market and oversee the marketing of the properties.

Part 1: The Purpose of Fix and Flips

Successful real estate investing is a balancing act. On one side, you need a business model providing you lump sums of cash. Flipping houses is great for that as you can make big chunks of money in a relatively short amount of time. However, you will keep working and working with no end in sight unless you also focus on the other side, which is long-term wealth through rentals, passive income, etc.

You take your big chunks of money inside your business and put that into long-term passive income real estate investments giving you the best of both worlds.

There are some advantages to doing Fix and Flips besides the monetary considerations. There are many real estate related deductions that are possible, the neighbors could love you for improving the neighborhood, you can provide jobs to friends and family and you could possibly start real estate related satellite businesses.

Part 2: The Process

In simple terms, you buy a house with equity at a low price. Depending on the market, you might have to buy even lower to make the numbers work. Then you fund the house, you fix it up and finally sell it at ARV (After Repair Value) or at market rate for a profit.

Then you just repeat the process again and again, but you must always be aware of market conditions so you can adapt quickly to changes and remain profitable.

Part 3: Research/Pre-Acquisition

You want to identify your target property, but it's critical to know your criteria. You need to identify positive factors and situations that should be avoided. There are three main property types - good, bad and ugly. 

You want to always get photographs of the property. Investors need to know and understand cost estimating. New investors frequently under or over estimate the cost of repairs.
As a rule of thumb, the worst looking house in the neighborhood should be the one you want for flipping houses.

Part 4: Financing and Funding …

You'll find the rest in our blog!  

What is Acquisition?  

How long is money in Escrow?   

Which are the really important Repair Concerns? And which can you skip and SAVE your pennies?

Find these answers and more valuable info in our blog!

GET EDUCATED AND STAY EDUCATED!! It's imperative to get educated first so you have a working knowledge of what to do before you get started. You will minimize your exposure and risk and definitely maximize your results. Not getting educated will work exactly the opposite.

Find a community of like-minded investors and mentors who are already "walking the walk" and associate yourself with them asap. Take advantage of your local library and all the free seminars.

Network all the time with other investors, at investment clubs, home improvement stores, neighbors, etc.

At the end of the day, flipping houses is a people business. The more you can effectively communicate with people and the more you can solve their problems, the more lives you will change and the more money you will make. The more you give, the more you shall …