"As seen on TV"
I'm sure that you've seem and learned many ideas about flipping houses from the shows on TV. These TV shows don't really get into the specific nuances of flipping. There is a science to successfully flipping houses. Many successful real estate investors can make $5,000 to $10,000 or more per home by flipping houses.
This article will cover some of the aspects of flipping houses, as seen on TV
What you ideally want to do as an investor is buy a home from a distressed seller and resell it quickly for a profit.
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You may be asking yourself, why do I want to inherit someone else's problem house? That's not necessarily the case. Just because a seller has serious problems like a pending foreclosure or divorce doesn't mean the house is a fixer-upper. Many distressed sellers offer prime houses in perfect condition discounted for a quick sale.
Distressed sellers jump at the chance to get out from under their overwhelming problems with an offer to close in ten days. To purchase a home quickly, you need to be prepared to offer cash or a
have secure loan in place with a reliable mortgage lender.
This investment plan assumes that you have the knowledge and skills, time to work on your fixer, and that you sell the house as soon as its finished to a qualified buyer.
Other real estate investors prefer to buy fixers from distressed sellers. Distressed fixers tender the best bargains to make the highest return on your money. For instance, if you put 5% down on a $200,000 home, spend $5,000 fixing the house up, and another $3,000 in payments, your cash investment totals $18,000. If you sell the home for a $70,000 profit like many rehabbers, you can see that your return on your investment of $18,000 for two months exceeds most other types of investments.
Home improvement centers help you with how-to classes, brochures, and advice. You need to give up your free time--TV, parties, leisure activities and work on your fixer. You could hire workers, but contractors and laborers work slowly and eat up your profits.
The last part of the equation, selling your house quickly to a qualified buyer means you need to do your homework. The most important issue, how you fix up your house, ensures that you quickly attract a buyer willing to pay top dollar for your transformed property. Then you can list your house with me and you will make a profit!
Whether you want to make money investing in real estate by flipping or fixing houses, you need to understand your market. To get started in your real estate business, go house shopping. You'll soon learn how to pick up a flip or a fixer and be on your way to making a high return on your money.
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All the Best!