5 Ways To Flip A Property
Posted by Omar Johnson in How To Flip
“Flipping” is a hot trend in today’s real estate market. Just take a look around, there are books on flipping, media articles about flipping and even reality shows have tapped into the flipping rave. There is no doubt about it, flipping is hot and with so many ways to do it why wouldn’t it be? Here is a quick list on ways to flip for profit. Read the rest of this entry »
Why Formulating Short Sale Exit Strategies Is Important Even Before You Begin The Investment Game
Posted by admin in How To Flip
Strange but true, you can actually find and exit opportunities in investments even before you commence them! Speaking in business terms, formulating short sale exit strategies in real estate investing is essential before carrying out the first deal. Read the rest of this entry »
Secrets Of Making Big Money With Short Sales
Posted by admin in How To Flip
Every other person who has been profiting from short sales also faces rejection at some point or the other. Just like every number game, generating big money through short sales is a tedious task to accomplish. In reality, very few investors actually know how to negotiate short sales successfully. Many are under the impression that all they would have to do is submit the offer, sit back, and wait for the bank to respond. If things go fine, they might be lucky enough to get the offer. However, to make it easier to negotiate the short sales you ought to have a plan wherein you persuade lenders to agree to your offer. Read the rest of this entry »
Advertise To Source Below Market Value Property
Posted by admin in Buying Houses
One of the best methods to find below market value property is through advertising. Placing classified adverts in your local paper should be part of your overall game plan to locate motivated sellers.
A motivated seller is basically someone who needs to sell his/her property very quickly due to circumstances beyond his/her control. Read the rest of this entry »
Avoiding Sour Negotiations in Real Estate
Posted by Ki Gray in Buying Houses
Negotiating can be tough. It is more an art of applying techniques to each unique transaction rather than cut and dry responses. With home sales, each home has a person behind it with emotions that can be triggered either positively or negatively. Whether I am the agent for the buying or selling end, I try to advise my clients with facts rather than emotions. I have run into other agents who get quite emotional and defensive about a transaction, and I can understand that inclination because some deals can just become so frustrating, but as the agent, it is best to take a step back and provide professional consultation instead of escalating your client’s emotions. These are some negotiating techniques to keep in mind as options rather than letting a negotiation go sour. Read the rest of this entry »
Problems vs Profitability - A Guide to Flipping Houses
Posted by admin in How To Flip
Like so many people who dream of securing a good income in the real estate business, I got my feet wet (actually, almost drown.) in the house flipping business. I was inexperienced and more than likely made all the mistakes that could have been made.
In early 2006 my sister Sarah, who was a new real estate agent at the time, convinced me to buy an old 1930’s fixer upper home for $38,000. The price certainly seemed right and I could see the potential in the old home. Read the rest of this entry »
Flipping HUD Foreclosures
Posted by admin in How To Flip
Those who want to invest in real estate often get excited by HUD foreclosures, thinking that they are going to buy a house for half of what it’s worth. Real estate investors know that this isn’t too likely. However, there are opportunities for flipping these houses for a profit, so lets see where.
HUD foreclosures are homes that had loans on them guaranteed by the Department of Housing and Urban Development. When owners default, they lose the house. HUD pays off the bank and takes possession of the home, which they try to sell for market value. Read the rest of this entry »
Flipping vs Fixing vs Investing
Posted by admin in How To Flip
I’ve just read Dan Melson’s article and I couldn’t have written it better myself. Here’s a quick excerpt:
A true flipper is looking for a quick turn on the property, usually without much work done to really improve the property. They don’t typically keep the property and rent it; they’re not willing to accept the work of being a landlord. They make their money off of desperate sellers and getting a very low price for a property. Typically, their profit comes from how far down they can drive a desperate seller.
A fixer is someone who is looking to make a profit by making the property more attractive. By making it more attractive, they are able to sell for more money. They typically sell when the renovations are done, although many will wait for a full year to gain better tax treatment. They do not typically rent the property out, although they may live in it while it’s being renovated.
An investor has the idea of buying and holding for a certain period of time, usually leveraging rent to make the payments, sometimes breaking even, preferably with positive cash flow, usually while eventually hoping to cash in on capital appreciation, but always holding for periods that start at two years and go up from there.
5 Tips For Flipping Houses For Profit
Posted by admin in How To Flip
In the summer of 2007 we saw big drop in the real estate market. Lenders suddenly found themselves holding mortgages that were not getting paid and homes were falling into foreclosure by the thousands.
This grew the number of homes in the national inventory. The new higher restrictions by the lending industry added to the large gap between home owners and home buyers. Read the rest of this entry »
Understanding Property Taxes
Posted by admin in Law and Tax
Property tax increases are a popular method used by municipal and county governments to raise revenue, but they can also have a big impact on the local real estate market. For example, a slight tax increase may drive demand for local homes down, a shift many might characterize as “negative”. But a clear understanding of local market conditions can help real estate professionals, buyers, and sellers take advantage of any new tax scenario and get the most for their property investment. Read the rest of this entry »