If you want to be successful in real estate investing, you need the house flip elevator pitch to fund your house flips-or so you have heard many people say.
Most house flippers think they do not need a house flip elevator pitch but in reality they do. Your mindset determines how you deliver your pitch and how you present yourself to other people.
There are plenty of ways that you can utilize the elevator pitch. You can use it to look for deals, to announce to your family that you are planning on venturing into the house flipping business or even when creating your house flipping team.
You especially have to perfect the art if you want to raise money to fund your flips.
One of the biggest fears that new house flippers have is not being able to sell their flips. What happens if their house flips don’t sell? What do they do afterwards?
It’s a common fear among many beginners and it’s justifiable. Thankfully it is a situation you can avoid altogether if you take the necessary steps with your lenders way ahead of time. This will depend on the type of loan you have on the house, however.
Here are two situations that you may face and how to deal with them effectively.
One of the most satisfying parts of being a house flipper is getting your offer accepted. So how do you sell property fast without sacrificing quality?
Believe it or not, the easiest part of house flipping is selling. If you stick to all the house flipping rules and properly use the expertise of your house flipping team, you will find that this claim is actually true.
Below I have 7 tips that can help you sell property fast. As a matter of fact, you will find that selling a house is the simplest part of the house flipping process.
In real estate investing, especially house flipping, almost everyone is focused on entry strategies as opposed to house flipping exit strategies.
Having solid house flipping exit strategies can be a life saver but unfortunately, they do not always guarantee that unfortunate things you hadn’t anticipated might happen. Exit strategies are simply back up plans. So if things do not go your way, you have a plan B.
The feeling and excitement of purchasing a house and rehabbing it is all too familiar. It’s an ecstatic feeling especially when you walk out of the deal with a big fat check.
You should try to figure out your house flipping exit strategy when your deal is already going south. You should have a plan even before you start working on your project. Exit plans do not just apply to house flippers; it also applies to people who buy and hold to sell when the market appreciates or for long term rental income.
After days or even weeks of searching, you finally found the perfect house for you to flip, or buy and hold. Your phone calls to owners who weren’t available, long drives to look for property, hundreds of direct mailings and your long search through MLS finally bore some fruits. This could be one of those real estate offers you have been waiting for.
To make things even better, you got an asking price that is below your Maximum Allowable Offer. The bad news is that you are not the only one who is interested in this once in a lifetime deal. There are several other real estate investors looking to acquire the same property. You present your first offer and it is quickly dismissed. It’s a bidding war and if you are not careful, you might just lose out.
So what exactly can you do to get your offer accepted?
Steven Covey is a well known self-improvement guru famous for writing “7 Habits of Highly Effective People”. He gave us seven simple principles that we can use to achieve success in life and business. Is it possible to apply his principles to house flipping?
His seven core habits are applicable to house flipping but one of these habits particularly stands out; “begin with the end in mind”.
There are a number of strategies that you can use to make money flipping houses but they all require you to think outside the box.
In the real estate industry you will find real estate investors, consultants, short sale realtors, wholesalers and those who do rehabs and retail. All these are different avenues for making money in real estate and the list goes on and on.
If you have done any kind of real estate investing, you must have at one point considered using a contractor and as such, you probably know that trying to manage a contractor is not an easy task.
Unfortunately, contractors do not have a very good reputation. Most real estate investors consider them difficult to work with, irritable, pugnacious, irrational and volatile. The good thing is that they are very good at what they do and this is what makes them worth the trouble.
There are a few things that can help you manage your contractor and make a profit.
To avoid dragging your house flipping projects, ensure that you Continue reading
There’s no secret to successful real estate investing. Others will even tell you that for $50, 000, they can coach you how to become successful in this industry. Their fee is of course inclusive of the big “secret”.
Is your real estate investing business growing at a snail’s pace? Maybe it’s because you are making some easily avoidable mistakes.
We all learn from our mistakes and in real estate, the more experience you have the more you learn and the less likely you are to make costly mistakes. Unfortunately, for some people it’s not that easy to survive in this industry because their real estate investing business is not growing as fast as they would like. If you are part of these people, then you could be making these 8 mistakes: