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?
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
This flip and grow rich principle can insulate you from failure.
You can accomplish twice as much in a year flipping houses using this principle.
It has been used by every hugely successful industrialist or businessperson in the past 200 years including Andrew Carnegie, Bill Gates, Warren Buffet, Henry Ford and even Steve Jobs…
Even the United States of America used this flip and grow rich principle to write the Declaration of Independence and the Constitution of the United States.
When most people think about going into business for themselves, they usually think of rugged individualism, self determination and a renegade "do it my way" attitude of independence and self-sufficiency.
Nothing could be farther from the truth.
To flip and grow rich flipping houses, the key is to partner with people who have similar definiteness of purpose.
Sure, you may need to split the profits with them. You also may need to give up a little control. You may need to compromise. You may need to swallow your own ego a bit at times...
However, when like-minded individuals with complementary skill sets are Continue reading
It is very important to rely on experts in certain situations. We don't always call in the experts but we do use architects and engineers on certain house flipping projects when we have to.
I decided to hire an architect to help assist with a floor plan for this particular house flip property located in Onset, MA. I probably did not have to use an architect for this project, however the current floor plan is a little funky and having the help of an expert will make life a lot easier down the road for my contractor and I.
Right now this home has a small bathroom that does not fit well with the overall floor plan of the home. There is a skinny and congested kitchen towards the back of the house that also needs some TLC.
Many house flippers get into house flipping thinking that it’s solitary process, just you against the world, making money hand over fist.
Even Vanilla Ice is getting into house flipping and he advocates the value of building a solid house flip team as well. Who would have thought?
When people ask me how to get started flipping houses, one of the first things I tell them that flipping houses is a TEAM sport, not a solitary one.
In order to learn how to get started flipping houses for a generous pay day, you need to keep some basic flipping houses 101 lessons in mind. As is the same with any business, the key to success is knowing and perfecting the basics, which is what we review today.
If there's one thing that is critical to your success in flipping houses, it’s doing exhaustive research on the geographic areas prior to implementing your house flipping plan. If you buy a property in a run-down area with little historical price appreciation, then your target buyer is going to most likely offer below market price.
Market research is the most important aspect of flipping houses 101.
This can leave you with an extremely tight budget, especially if it's a "fixer-upper" property, where you Continue reading