House Flipping Checklist | 4 Objectives For Rehab

To make sure your project goes smoothly, you should stick to this House Flipping Checklist.

House Flipping Checklist | 4 Objectives For RehabPerhaps the most intricate and time-consuming part of flipping a house is the rehabilitation process. Rehabbing a property is essentially what is going to turn you a profit, and should not bet taken lightly.

When working on your flip, you should always be sure to complete this house flipping checklist. If you miss any one of these essential steps, you could find yourself in a world of trouble. This house flipping checklist will provide you with a methodical approach so that you will never go in blind.

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Flipping Properties | The Do’s And Don’ts

To Learn How To Flip Properties, you must first learn the Do’s and Don’ts of the business.

How To Flip Properties Success Vs. FailureIn the last half decade, a great number of people have started to join the dynamic field of house flipping. House flipping has the potential be an incredibly profitable industry for new investors with a lot of ambition.

However, many new investors jump into a house flipping project without realizing the full gravity of the situation. They often make rookie mistakes that they’ll regret later. As a beginner, you should try to avoid these mistakes by researching and learning as much as you can about how to flip properties.

How To Flip Properties | The Do’s And Don’ts

If you want to learn how to flip properties, it would be smart to see what problems other just like you have run into. In the following section, we pair a common mistake (don’t) with its alternative solution (do):

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How To Flip Properties | Success Vs. Failure

To Learn How To Flip Properties, you must first learn the Do’s and Don’ts of the business

How To Flip Properties Success Vs. FailureIn the last half decade, a great number of people have started to join the dynamic field of house flipping. House flipping has the potential be an incredibly profitable industry for new investors with a lot of ambition.

However, many new investors jump into a house flipping project without realizing the full gravity of the situation. They often make rookie mistakes that they’ll regret later. As a beginner, you should try to avoid these mistakes by researching and learning as much as you can about how to flip properties.

How To Flip Properties | The Do’s And Don’ts

If you want to learn how to flip properties, it would be smart to see what problems other just like you have run into. In the following section, we pair a common mistake (don’t) with its alternative solution (do):

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Flipping Real Estate | 4 Rookie Mistakes You Should ALWAYS Avoid

Flipping Real Estate can be a profitable venture, but mistakes can wind up being costly.

Flipping Real Estate 4 Rookie Mistakes You Should ALWAYS AvoidAn exciting field that many young professionals are joining is process of flipping real estate. While house flipping can certainly be profitable, if done without the right know-how and guidance, you could end up in a heap of trouble, and debt, with no way out.

To avoid making these beginner’s mistakes, you must learn about the problems that others have faced. Below are four of the most common mistakes that rookies in flipping real estate make.

Getting Your Heart Set On One Property

A large part of your job as a house flipper is choosing the right house for your project. The house might be in the right area, carry no major problems and has a lot of potential. These are all great aspects, but if the seller isn’t willing to negotiate down so that the property is within your price range, you need to be willing to move on.

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[3-Part Video Series] How I Made $22,500 Before We Sold…By Just Bringing Coffee

OK, here are the numbers:

  • The ARV (after repair value) was $180,000
  • The 70% Rule was $126,000
  • The CORE (cost of repairs estimate) were $60,000
  • My MAO (maximum allowed offer) was $66,000

I did sell it for $180,000...but I bought the house for $81,000...

This was $15,000 OVER my MAO.

Yes, OVER!

How could I do it you may ask???

I could do it because I had a sweet deal with my contractor...and I had an even sweeter deal going with my banker.

So here’s why I did it:

Here's how I did it:

Even better, with no money of my own, I got a bank loan for $107,000 and actually had the money in hand BEFORE we sold.

So I literally bought that coffee with the profit I had already made BEFORE I sold it!

Here's how you can do it too:

 

House Flipping Helper | The Secret To Utilizing Selling Points

Often when remodeling a home, you might be unsure as to where to allocate your budget. This House Flipping Helper will guide you on how to manage your selling points.

House Flipping Helper The Secret To Utilizing Selling PointsWhen a realtor is showing a property in an open house, one of the most important parts of his or her job is to highlight the selling points. This house flipping helper can teach you what exactly makes a good focal point and how you can use it to your advantage. By learning these key tips, you will be better equipped to manage your budget and create features that will help you flip your house at a higher price.

When you are remodeling and staging a property, it can often be tricky to decide what exactly you want to allocate your money toward. First and foremost you want to make the essential home repairs needed to sell the house. Maybe your property has a plumbing problem or a leaky septic tank. Maybe it needs a new roof, or new appliances in the kitchen, or perhaps a fresh coat of paint.

After you take care of these mandatory problems, however, you can move on to the next step. You can invest in aspects of the house that are really going to catch the attention of potential buyers: the selling points. By following the tips in this house flipping helper, you will be one step closer to become a bona fide flipper.

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How I Plan to Seal a Deal with Just $100 of My Own Money

wholesaling expert john fossetti

 

By HFS wholesaling expert John Fossetti

 

Yesterday I received a bandit sign lead on a property which I believe has amazing potential to earn me a lot of money in the long term. The house is a single family, 3 bedroom ranch that is, quite honestly, very run down. Despite the poor physical condition of the house, the owners still have the property on the market for top dollar.

The owners are currently going through a divorce. The wife resides in the home but the husband does not. The wife hired a contractor to fix up the house, but he took her money and did not do anything he promised to do. So not only is this a distressed property, the entire deal itself is a distressed situation.

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Flipping Foreclosures | Know The Essentials To Making A Profit

A quick way to earn a considerable amount of profit in today’s economy is by Flipping Foreclosures.

Flipping Foreclosures Know The Essentials To Making A ProfitAs you probably know, a foreclosure happens when the owner of a home fails to make their mortgage payments, resulting in the lender (usually a bank) to repossess the property. While the process is often tragic for the previous homeowner, flipping foreclosures can be a great way for you to make money.

You can often buy these properties at a price well below market value, so they have an amazing possibility to earn you a great deal of profit.

While flipping foreclosures can potentially be a great business investment, there is always a substantial amount of unpredictability. Unlike regular real estate properties, foreclosed homes are not prepared by the owner to be sold. Often times you will find these foreclosed properties in a worse condition than other properties, and still full of the unwanted items of the previous owner. Make sure you know what you are doing, and follow the proper steps before you being flipping foreclosures.

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