House flipping is a real estate investing strategy that enables you to make cash in a quick and easy way. For you to enjoy the benefits of house flipping you need to know how to do it the right way. One of the reasons why investors loss a lot of money from flipping houses is using the wrong approach. House flipping is a significantly easy process and anybody can do it as long as you take time learning the ins and outs of the business.
The process of house flipping involves buying a property that needs cosmetic and structural update. These properties are sold at a cheap price and you have to do the necessary repair to increase the properties’ market value. After all the renovation, you have to sell the property at a significantly higher price to make profit.
To renovate or not?
Most of us think that flipping a house involves extensive repair. Well, this is not always the case. Sometimes, all it needs is just a little work. If you are the type of person who does not want to handle all the repair and renovation work, then all you need to do is find a wholesale buyer. It means you no longer have to handle all the fixing. Your only goal is to find a property needed by a wholesaler buyer. Money is pretty easy when you opt to sell the property to a wholesale buyer. Usually, it takes three to four weeks for you to get paid, although the profit is not that high.
Improving ROI with Real Estate Spreadsheets
On the other hand, if you are the type of person who loves fixing a house, be it a cosmetic repair or extensive structural repair, then the possibility of making a huge profit is high. The only downfall is it will take a few months for you to enjoy your profit. The key here is to find a cheap property, do all the necessary repair to make the house appealing to your target market, and use all advertising medium to reach all your prospect buyers. Now here is a great blog post from Betty Taylor on how a house flipping spreadsheet can boost your business and profitability.
House Flipping Spreadsheet for Maximum ROI This article on flipping houses and using the real estate deal analyzer and worksheet will help you succeed.
With the house flipping method, you get to decide how much you can make and how you are going to make it. Once you find a buyer and close the deal, you can immediately enjoy the profit. No tenants to deal with and no maintenance work to handle.
House flipping secrets with Scott Yancey
Do you want to know the secrets to a successful house flipping? Scott Yancey events will show you how to make money flipping houses. Follow Scott Yancey and watch his TV program, Flipping Vegas. You will be able to learn the secret formula to house flipping success. You will know the strategies to use in every house flipping project.