[3-Part Video Series] How I Made $22,500 BEFORE I Sold a House Flip…By Just Bringing Coffee
All I did was go to my local Dunkin Donuts, pick up a half-dozen coffees…deliver them to my guys and then sat back and watched.
Better yet, I did all this with my profit already IN HAND...before the project even started!
Oh and did I mention I did all this by shattering my MAO Rule as well?
All true.
Seriously crazy stuff. Continue reading
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.
An 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.
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.
When 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.
How I Plan to Seal a Deal with Just $100 of My Own Money
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.
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.
As 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.
Bathroom Remodeling Ideas | 5 Great Tips You Need To Know
Make sure you learn these important Bathroom Remodeling Ideas before you begin flipping your house.
As you may have heard before, the kitchen is generally considered to be the most important room when flipping a house. However, following in close second is a room that is nearly just as important: the bathroom. Unlike the kitchen, there is typically more than one bathroom in a property. Because of this, it is perhaps even more essential for you to know these important bathroom remodeling ideas before beginning your project.
If done incorrectly or without the proper guidance, a bathroom remodel can turn into a nightmare, costing you a fortune just to get back to par. If you follow these tips, you should be able to create the ideal bathroom for potential buyers, and save a great deal money in the process.
What Is A Short Sale? The Essential Facts You Need To Know
Short Sales are a great way to earn money fast in the house flipping world— but What Is A Short Sale?
One niche in the real estate community is the lesser-known art of a short sale. “What is a short sale?” you might ask. A short sale, in essence, is when the owner of a home sells their property to a buyer for less than the amount of money they owe the bank.
What’s great about short sales is that they benefit everyone involved. The seller’s credit rating is not affected as much as it would be if the house were to be foreclosed. Although not ideal, the perhaps unscathed credit rating will help the seller to be able to purchase a different home once his or her finances are in check.
Most importantly, the short sale benefits you as the buyer immensely. These houses are typically in a distressed state, perfect for flipping. For this reason, you should be able to negotiate with the bank to sell the house to you at a lower price. From there, all you need to do is repair, renovate, and sell at a much higher value. If you do everything correctly, you should end up with a decent profit.
Why I Accepted $10,000 LESS On a House Flip…But Made MORE Money Anyway
Why would anyone in their right mind EVER leave money on the table on a house flip deal?
Most people would think that you'd have to be certifiably insane (see our friend on the left) to take less money on anything you sell...house flip deals included.
After all, isn’t house flipping about maxing out the amount of money you can make on a deal?
It is of course. But on this house flip deal, I actually figured out a way to make more money anyway.
What was really cool is that we had FIVE offers on the property on the same day!
So thankfully I had some options, so we could be fairly picky and pick which one was the best one for us.
FIVE House Flip Offers in 1 Day...What's the Best One?
We listed the house for $219,000. And on the very first day of it being on the market, we got the following offers: Continue reading
Real Estate Flipping | Know The 3 Secrets To Renovating Your Kitchen
Knowing how to renovate your kitchen is important when you are dealing with Real Estate Flipping.
As you might already know, the kitchen remodel is often the most expensive part of real estate flipping. Luckily, it is also the main attraction for prospective buyers. If you know how to do it right and were to allocate your money, you could exceed the par of what is expected of the kitchen, and create an incredible selling point for your property.
In fact, selling points are one of the two key things you should consider when renovating this room. The other important part you should focus on is the overall appearance of the kitchen. Think of the overall appearance as the outward impression that the prospective buyers see from a distance, while the selling points the highlights that you will show them close up.
Knowing how to utilize both of these resources can help you sell your house fast, and at a greater profit.
Curb Appeal Ideas | 3 Cheap Tips For House Flipping
Make an impression on prospective buyers with these Curb Appeal Ideas.
When you flip a house, there are a number of different strategies you can use to make sure you sell in fast and earn a profit. However, one of the more overlooked tactics is using curb appeal, or making the outside of the property more attractive to prospective buyers.
This strategy is very important because the very first glimpse of the house these buyers get is usually through the photo in the real estate listing, either online or in the newspaper. More specifically, they will see only the front side of the house and the front yard. So even if the inside of the house is beautiful and state of the art, the buyers will never know.
Curb appeal is the best way to get your foot in the door, so to speak, and grab the initial interest of the buyer. Below are some important curb appeal ideas you should consider when preparing your house to be flipped.