Is Hiring a Real Estate Investing Coach a Worthwhile Investment?
House flipping for beginners is what House Flipping School is all about. My aim for this blog was to create a free and open resource full of useful information for the beginner house flipper.
I thought doing this was important because I vividly remember how tough this business was for me when I was a house flipping beginner.
When you are just starting out house flipping, things can become overwhelming faster than you can say "Carelton Sheets" 🙂
Trust me, I know because I have been there.
To be honest, I was in your shoes not so long ago.
I spent a lot of time debating what to do, when to do it, and how to do it. Thinking back I wasted more time debating when to Continue reading
How to Flip Houses Trading “Dimes for Dollars”
There’s no secret that I am launching my first House Flipping School coaching program in just a matter of days.
The truth is that when I started House Flipping School, I didn’t start it to make money.
In fact, I really wasn’t quite sure where it would lead.
I really just wanted to help people get into the house flipping and real estate investing business because I love it so much!
And quite frankly, I really just wanted to see where the whole website thing went.
I've made it no secret that I do one-on-one personalized paid coaching for local real estate investors - so in the back of my mind, I always wondered if there were others out there in the U.S and even internationally who I could help teach how to flip houses as well.
Five short months later and with 17,618 unique visitors (just checked it now 🙂 ), it seems kinda obvious that Continue reading
How to Flip Houses (Even When Your Market Is Too Expensive)
I've recently had a ton of questions from readers of this blog on how to flip houses when the 70% Rule may not apply to their market.
It may not apply exactly...but it does apply...even in expensive markets.
As you may recall, the 70% Rule is a standard benchmark used to determine how to do our house flipping math.
So let's get right into it and see if we can answer these questions...
How to Flip Houses: The 70% Rule Review
As you may recall, the 70% rule keeps you out of trouble when you're flipping houses. It also prevents you from doing "eraser math" when you're evaluating how to flip houses. I see lots of different ways to evaluate a property, but the 70% rule is the rule that I've always stuck with because although it does not exactly apply in every circumstance, it is an excellent benchmark to use to keep you honest and ensure a good profit on the property.
So for example, you've determined Continue reading
Sold in 1 Day | Update to the Scituate, Massachusetts House Flip
The Scituate, Massachusetts house flip underwent quite a transformation. If you are not familiar with how this property looked before construction began, definitely check out the this post before reading on.
I am very pleased with how this house flipping project turned out-especially since this property sold after just one day on the market!
Selling a home in one day is completely new for me and to be honest, completely unexpected. Since I began flipping houses for a living I have had numerous houses sit on the market for much longer than anticipated. Needless to say a quick sale like this one is always much appreciated.
Flipping Short Sales in Scituate, Massachusetts
As with many of our recent real estate flipping projects we decided to integrate an open floor plan into the Scituate property. The old front door used to lead into a cut up floor plan with absolutely no view of the nearby ocean or marshland. This had to be changed.
As you will notice in the below video, the first floor is now wide open and very spacious. Take special note of the nice staging job that Lynn Amiccuci from Vernace Designs did for us. I really think that staging this house flip played a pivotal role in selling the home so quickly.
Home staging is definitely something I find myself recommending more and more to people who want to learn how to flip a house for profit. The amount of profit you realize when flipping properties often hinges on the amount of time the house spends on the market.
Less time on the market = more money in your pocket
How to Flip Real Estate Without Strangling Your Contractor
How to Flip Real Estate
There are so many ways how to flip real estate.
This is especially true when it comes to the rehab part of house flipping.
Some house flippers like to do it on their own, some like to use project managers and some like to use general contractors.
One of the best ways to lock in profits as well as get your house flip completed on time is to learn how to flip a house for profit with your contractor.
But how you manage these guys without strangling them?
Contractors have a reputation for being notoriously difficult to deal with at times, and this reputation is often times Continue reading
3 House Flipping Tips for Selling a Home in One Day
The Scituate, Massachusetts house flip turned out to be a very exciting rehab for me. Aside from all the "usual" exciting house flipping stuff (brush nickel fixtures, new decks etc.) this property proved exciting because of how quickly it sold once it hit the market.
For the first time in my house flipping career I was able to sell a home within the 1st day on the market. For me (and hopefully you too) that is pretty exciting stuff!
Needless to say selling a flipped house in less than 24 hours is unusual-especially in the New England real estate market. Believe me when I say I have held onto some house flips for way too long over the years. The holding costs associated with these particular house flipping projects can really add up quickly.
Perhaps selling a home within 24 hours is more common in other areas of the United States or world. If you know of any hot real estate markets where homes sell within 24 hours, I would love to hear about it in a comment below.
As mentioned above, selling a home within 24 hours does not happen often for yours truly. Yet I do think certain house flipping strategies my team and I used on the Scituate house flip really helped motivate the buyer to act quickly.
Below are my top 3 house flipping tips for selling a home during the first day on the market.
Continue reading
How to Flip and Grow Rich With Your Contractor
Contractors and flipping houses.
Like bacon and eggs...
Like peanut butter and jelly...
Like pizza and beer...
Like a lit match and gasoline...
Yes, it's not always harmonious using contractors when you're trying to flip and grow rich.
Timelines get extended, promises get broken, tempers flare and before you know it, you're the one managing the flip and managing all the subcontractors.
Flip and grow rich?
Not quite.
To GC or Not to GC...THAT Is The Flip and Grow Rich Question
Hiring a general contractor for all your house flipping projects is the best possible way to go when you're house flipping...but only if you can make it work. If you do, they will become an enormously helpful member of your house flipping team when you are first learning how to flip houses.
I mean, wouldn't it be nice to Continue reading
House Flip Staging Secrets Revealed!
Staging is becoming all the rage in house flipping.
We have now used it twice in the past month to sell two houses...one in one day and another in just two days.
Yes, I' m serious.
Seriously excited about staging that is...
What is "staging" you say?
Staging a house flip is when you, an interior decorator, or professional staging company comes into the home and sets up furniture and decorations. Basically, home staging companies turn empty space into a fully furnished home.
The House Flip Secret...That's No Longer A Secret
I recently began experimenting with staging and so far I have come to one conclusion. In most instances, staging a house helps sell the house quicker, which in turn saves me money. Remember, there are many holding costs associated with a house, so the quicker you sell the better.
Over the past couple of months I have been utilizing staging companies to prepare for open houses with great success. I have noticed that Continue reading
The REAL Impact of House Flipping [Infographic]
House flipping is helping us rebound from the depths of the recession.
Who would've thought?
Regardless of whether you are Democrat or Republican, one thing is for sure: flipping houses for profit not only helps the real estate investor, but it also helps thousands of people get better places to live and pumps much-needed capital back into the economy.
In fact, the impact of real estate investor and house flipper on the housing market in the past decade has been substantial. And house flipping and real estate investing have had an even larger impact over the past few years, just when our country has needed it most.
The Tremendous Impact of House Flipping on Our Economy
Our good friends over at BiggerPockets.com recently performed a survey to show exactly what the impact of house flipping and real estate investing has been over the past few years.
The Memphis Invest National Survey of Residential Real Estate Investors outlined a slew of important data points about investor intent and as a result has received a ton of national press coverage. This extensive survey, helps to Continue reading
Ready for Sale | Final Update Onset, MA Property
As usual I am very excited about how the seaside Onset house flip turned out!
If you have not yet seen the post depicting how this property was before we flipped it, I highly recommend you check it out – just click here to give it a read.
This home underwent many changes. Some changes were relatively simple and typical, while others were more challenging and complex. As is the case with most of house flips, we had some unexpected happenings that proved to be challenges. Those unexpected challenges really help keep me on my toes and overall do a good job of keeping this business exciting.
And of course, please remember that if I am capable of transforming a home like this one, then you are too.
House Flipping Massachusetts | Onset 1st Floor Walk Through
As soon as prospective buyers walk through the front door they are greeted with a fully remodeled living room full of natural light. Here is what the living room looked like just a couple of months ago.
And here is the living room now. Continue reading