Flipping Real Estate - Succeed With Proven Methods And Beware Of The Scammers
By John Ferreira
There are several ways to flip real estate and make a nice profit in a short amount of time. One way which we discussed in a previous article “Flipping Real Estate Or Flipping Paper” talked about flipping the contract before ever actually taking possession of the house. This is a very neat, tidy, and quick way to make a profit. Basically, you as an investor should have a list of qualified buyers, investors or otherwise, and locate great deals on which you can make a quick profit when you assign over the contract to you buyer. These are not usually huge profits for you but if you can find them and sell them quickly then it still makes good sense. As we get more efficient at the techniques involved such as locating, negotiating and having the right buyers we can get several of these deals each month, so even if our profit per deal is only a few thousand dollars it is still very profitable.
The other most popular way of flipping is buying undervalued property, rehabbing or refurbishing it within a couple weeks to a few months and then selling it as quickly as possible for a profit. There are ways you can do this even if you have bad credit and little money, We ve all heard about no money down investing. Late-night infomercials telling you that they are making money buying houses, fixing them up and selling them for profit. Well the truth is that you can make money using those very strategies. The problem with these programs is that they are usually asking for a lot of money which most people just can t afford or don t trust the guy on TV. They re not all scammers, some have great and legitimate methods that if used will bring you success. I know and use some of these methods and can say that but it does require time and effort, two things most people just don t have, especially when they are trying to do it aside from another full time job.
This is a safe and lazy man s way of flipping:
If you happen to live in, or near a hot market, consider looking into the pre-construction market. Some condo style complexes take a year or more to complete and if you buy before they even start digging the dirt you can profit very well. This is not a quick flip obviously but in a hot market your profit potential can be in the double digits… better than having your money sitting in the bank.
Truth is, no matter which way seems best for you, we live in a time where it is very easy to buy property. Yes, the prices keep going up but that s why we re all getting rich buying and owning land. There are more ways today to structure financing and mortgage deals with a variety of brokers and lenders than ever before. When I was a kid in the 60 s - 70 s my parents needed 25% down to buy a house, today that s just not true anymore. As buying has become easier, it has given the foreclosure market a big boom in the process. giving even more opportunities for the sharp flipper.
Real estate flipping has conjured up a bad or illegal activity for some people who have heard certain stories in the media about how some realtors and brokers have gone to jail for fraudulent activities in flipping. This illegal flipping of real estate is actually just mortgage fraud. The real problem with illegal flipping is when investors, mortgage brokers, loan officers, appraisers, etc. conspire together and submit fraudulent loan papers and bogus property appraisal reports. These people can only take advantage of someone who has not done their due diligence and really learns and knows their market.
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Get tips and information on how to build your wealth the way most millionaires have through real estate investment techniques such as flipping real estate and foreclosures at http://www.Real-Estate-Wealth-Builder.info Come read the “Top 10 Mistakes Made By Novice Real Estate Investors”
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