Flipping Houses: How To Flip A House Profitably

Flipping houses involve buying a house, fixing it up and selling for a profit.

Define Your Area And Neighborhood Research what kind of neighborhood you want to target. This will determine your price range, potential target buyers and also the level of rehab which would be needed.

Usually the properties which are great candidates for flipping will not be listed by real estate agents on Multiple Listing Services (MLS).

Rehab costs:  This is the cost to actually fix up the property. J Scott in his book on Estimating Rehab Costs provides a great template to capture all details.

While we may not agree with everything he says, there are nine decades of wisdom buried in Warren Buffett’s quotes.

With a Buy and Hold rental, you can typically get bank mortgages at low rates. Properties which are prime candidates for flipping, are generally not habitable.

Hard Money Loans

These loans are made by individuals and are very expensive. Also it is hard to obtain financing for large deals since an individual may not be comfortable loaning a large sum on one particular deal.

Crowd Funded Platforms

The Jumpstart Our Business Startups (JOBS) Act created an exemption so that crowdfunding can be used to obtain funding from the general public.

Given that fix and flip projects take more than 6 to 9 months to complete, assume the property market may change.

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