Fixing and flipping real estate can be a wonderful way to make money. However, if you want to be able to make a nice profit, you have to know how to get buyers interested in your fix and flip property. Luckily, following a few helpful tips can help you get people interested so that you can sell your property at a nice profit.
3 Inspection Items You Must Not Overlook When Evaluating a Fixer-Upper
Posted by Ken Meyer on Tue, Apr 12, 2016If you are interested in purchasing a fixer-upper property, you are probably excited and raring to go. However, you'll need to carefully inspect the home for potential problems so that you know what you are getting yourself into. A lot of issues aren't a big deal -- for example, many cosmetic issues can be fixed relatively easily and affordably -- but these are three inspection items you must not overlook when evaluating a fixer-upper. They're more serious problems that can be quite costly to repair, so you'll need to take that into consideration when determining whether or not to purchase a property.
Why California Provides a Great Opportunity For Fix And Flippers
Posted by Ken Meyer on Tue, Mar 29, 2016You can make money by investing in a fixer-upper and fixing it up in any state in the country. However, some states offer better opportunities for investors than others. For example, once you learn why California is a great opportunity for fix and flippers, you might be interested in investing in property in this great state.
7 Reasons To Use A Small Local Contractor for Your Next Flip
Posted by Ken Meyer on Tue, Feb 23, 2016The practice of flipping homes is gaining steam across the state of California and the United States. Prior to flipping your first, or your next project, there are a few things to consider. That’s why we have come up with seven reasons to use a small local contractor.
Fix and flip financing, also called hard money loans, sometimes conjures up images of boogeymen in pin-striped suits making obscure threats about what will happen if they don't get their money back on time. Real hard money loans, though, are simply investments given to a real estate buyer by a business person who expects to make a profit off of that funding. There's no broken knee caps, pinky rings, or other Hollywood elements involved. A hard money lender is just a private lender who often steps in when the bank won't to offer the financial support a property flipper needs.
Flipping a house is a very profitable endeavor if you know what you are doing. As with most highly lucrative opportunities, it is also risky. Being well-informed is the best way to ensure success. One wrong decision can lead to a break even situation, or worse, leave you with a loss. Here are a few surefire ways for your fix and flip project to fail.
Both first time and experience home flippers, can find useful information on the internet, but where to look? If you start with a search engine, who knows where you will end up? Go ahead and try it. Type in "house flipping" and see what happens. Something like thirty-three million results. How do you sift through all that? For those who are seeking advice, tips, and tricks for the do-it-yourself home flip, here are three of the best house flipping blogs to lend you a helping hand.
You've watched the reality shows where home buyers acquire a run-down property, invest to fix it up, and then flip the house by selling it for for a profit all in 30 days or less. This could be you someday, but flipping requires a great deal of investment capital to get started.
Tips to Consider When Putting Together a Complete Scope of Work for Your Next Flip
Posted by Ken Meyer on Tue, Nov 04, 2014Flipping a house successfully requires a very detailed scope of work. Some people choose to do a very general scope to determine if the flip will be profitable or if the house is a money pit. However, the problem with an overly general scope is that there are a lot of variables. Contractors may give you estimated quotes that turn out to be much higher when they find bigger problems upon closer inspection. You might think a roof replacement is all you need, only to find out later that the gutters and chimney need work as well. Take the extra time to examine the details, and check out these tips about how to put together a complete scope of work for your next flip:
Flipping a House: Top 3 Ways to Stay on Budget and Avoid Unnecessary Debt
Posted by Ken Meyer on Thu, Jul 17, 2014You want to flip a house to make money, right? It can be done with a little forethought and planning. Read on to find out the top 3 ways to stay on budget when flipping a house and avoid unnecessary debt.