How to Make Money Flipping Houses One “Comp” At a Time
One of the things house flippers just love to talk about in house flipping is how much they sold a house for.
Yes, its the most fun (especially when it involves a number with lots of zeros after it!)...but the reality is that its one of the final steps in what can be a very long process.
We even refer to this process as the house flipping formula, with 12 distinct steps how to make money flipping houses.
So how do you make money flipping houses so you get those checks with lots of zeros in them?
How To Make Money Flipping Houses...Comp Style
We've explained how much it costs to flip a house using ARV (after repair value) before. And to determine the ARV, you want to get a really good real estate agent to work with you to determine what the after repair value is, which is the selling price of that property after you renovate it.
A good real estate agent will be able to help you with that.
How do they do it?
They first perform a Continue reading
How to Save $4,000 on HVAC versus a Boiler
Here we are again at one of my latest house flipping projects located in Onset, Massachusetts.
I am excited about this specific property because this home is going to have a lot of sleek and attractive features. In addition to the beautiful rehab work we are doing to this property, this house is located walking distance from the beach. How can you beat that?
How to Flip Houses With No Money Down Exposing Yourself
One of the questions that I continually get asked is: “how to flip houses with no money down?"
I think it's because people see all the TV shows that show people how to flip houses with no money down and they really want to know if it actually can be done!
The problem is that they make it all seem so easy.
They say that anyone can do this, it doesn't matter if you have no credit, have bad credit or no money. They say anyone can do it.
Sounds like a lot of hype right?
How to Flip Houses With No Money Down...The Naked Truth
The bottom line is, you can learn how to flip houses with no money down...so the gurus and the TV shows have it half right.
Is it easier to flip houses if you have money? Continue reading
How to Flip a House: Don’t Make This Rookie Selling Mistake
Now for the best part of learning how to flip a house…selling!
No doubt, one of the most exciting parts of house flipping is selling. It’s the culmination of months of work and many house flipping steps. You raised some money having learned how to flip houses with no money, you bought the property, you repaired it and rehabbed it and now you’re ready to sell it.
Way back when you were first starting out in assessing the house flip, you determined the ARV and with the house done, you are ready to list it with a real estate broker.
It’s an exciting time. You’re looking forward to cashing that big check, and cash in on all Continue reading
How to Flip Houses…As Simple As 5th Grade Math
When you're first learning how to flip houses, any real estate investor will tell you how important it is to understand the numbers.
If you go into real estate deal without knowing your numbers cold, one thing is certain…you will have a very short house flipping career.
The good news is that in the house flipping business, you don't have to have a PhD in mathematics in order to understand the math behind house flipping. In fact, any 5th grader could do it.
For example, if you can understand numbers such as:
$200,000 / 70% = $140,000
Then congratulations, you have the requisite math skills to successfully flip houses.
By doing the basic math above, you just completed one of the most basic formulas when learning how to flip houses. This formula will Continue reading
How to Flip Real Estate Using The 1 Secret Nobody Will Tell You About…
When you first learn how to flip real estate, sometimes what you think will work and what actually works are not the same thing.
Sometimes when first learning house flipping, your gut instinct is oftentimes wrong.
This is why you need a house flipping team to rely on – a team that will help you work through some of the more confusing aspects of house flipping.
This team can help you with this because they have something you don't have...yet.
How to Flip Real Estate With "OPM"
Previously, we've talked about how to flip houses with no money using other people's money or "OPM" for short. In the same way,you can use other people's experience (OPE?) in order to help you to learn how to flip real estate – while minimizing your downside risk.
One of the most exciting parts of learning how to real estate is when you first get to sell the property. Finally, after months of Continue reading
Warning: The Most Critical Step You Must Know When Flipping Houses for Profit
Flipping houses for profit is a very lucrative way to make money. The truth of the matter is that real estate transactions occur whether prices are appreciating or whether they're depreciating. You as the house flipper, make money on the transactions on both ends in the rehab in the middle.
However, of all the steps in flipping houses for maximum profit, there is one that is the most important of all.
2 Critical Benchmarks When Flipping Houses for Profit
Both real estate investors and realtors make a regular living by buying and selling real estate. Someone makes money on the sale of the property and someone makes money on the buying of the property. Simply put, house flippers look for a property for sale, buy it, rehab it and then sell it for a reasonable profit. Although flipping houses for profit seems simple enough, its by no means as quick or simple as it many may make it appear.
Of all the steps to house flipping, some would say that buying right is the most crucial step and in order to do this consistently, we use several metrics to do it consistently: Continue reading
3 Weeks into the Rehab of the Wareham Wood Planks House
Hello! Just wanted to say a quick thank you for checking out the House Flipping School blog. I'm having an awesome time developing this blog and it's great to know that many aspiring house flippers are gaining value from this site.
Creating a helpful online resource has always been my #1 goal right from the start, and believe me it feels great to know that at least some of you are gaining knowledge and taking action.
Progress on the Wareham, MA Wood Plank House Flip
Before I start getting all sentimental lets talk a little bit about a property in Wareham, Massachusetts that is currently three weeks into the renovation process. So far work on this house flip has been going extraordinarily well. I'm very happy with the progress the guys have made so far on this property - nice work fellas!
Since purchasing the property we have completely stripped down a couple layers of old shingles off the roof. Whenever I have doubt with a roof, I simply choose to not mess around with it one bit, and instead replace the roof to be on the safe side.
We have a new roof on this house flip property which is not only safe, but also looks very nice.
If you remember in the first post about this house flip (which you can view by clicking here) the previous owner had a "not so attractive" bench protruding from the front of the home. Well we went ahead and removed the bench last week, which will help improve the curb appeal of this property.
Creating a Lifestyle that Works for You
The House Flipping Lifestyle
Everyone desires flexibility in their schedule. If you are reading articles and blogs about house flipping and real estate investing, then there is a good chance you desire flexibility in your life. If you are like me, then the regular 9-5 job just won't cut it.
Like a lot of people I spent the early years of my life grinding it out, doing a lot of hard labor and relying heavily on that next paycheck. As I gained experience I was able to run my own flooring company and begin making more managerial decisions, and Ilearned a lot about running my own business.
How to Flip Houses With No Money Using Your Own Resources
As we have talked about before, there are lots of ways how to flip houses with no money. One way to flip houses with no money is using other people's money or what we refer to as "OPM" for short. What's lesser known is how to flip houses with no money with resources you actually may already have at your disposal already!
With these pathways to flipping houses with no money, even though the resources are your own, there is no outlay of cash on your part, which is the best part.
The key with any new skill you learn related to flipping houses is for to always look at ways in which you can be creative and think abundance instead of lack. Although these ways of flipping houses with no money are by no means all inclusive, they may even spark ideas of your own that allow you to realize your house flipping goals without the use of your own cash.
Below are just a few ways how to flip houses with no money using your own resources, but without any kind of cash outlay on your part.
How to Flip Houses With No Money
When people are first starting to learn how to flip houses with no money, they may not realize there are resources readily available to get them Continue reading