Thursday, August 27, 2009

Flipping Houses

I get a lot of questions from my clients who want to invest in real estate. Most people are taking the conservative approach and asking lots of questions and being very cautious and in today’s market they should be very careful. Some of the questions being asked most frequently are about flipping houses. Can it be done and how does it work. Can I really make lot of money and possibly replace my job? YES, it can be done but I wouldn’t give up your day job so soon. Flipping houses is harder than it looks and should not be ventured into unless you’ve done your homework and you’re ready for a challenge.

If you’ve been thinking and dreaming of making money in real estate, now is a great time in our economy to get started. As a nation we need people to start the recovery process and as individuals we can do this by buying up foreclosures and REO properties under market value the key to making money flipping houses. The housing market will NOT recover until these properties are sold off and are no longer setting low values in our neighborhoods. Many of these homes have been striped or need major repairs. You buy low and sell them for a profit. Flipping house is a great way to make a fortune in real estate, so don’t listen to anyone who tells you it cannot be done.

There are loan programs to help with low downs and restoration loans. Seller credits are allowed for closing costs, so you can get started with little out of pocket expenses. Smart shopping and learning the things to do and not to do is the hard part. You can get information about house flipping on also see investor blogs for 1st hand real stories. They have FREE Access to Flipping Homes tips, strategies and experts. Putting together a team is essential; a Realtor is essential and will be your biggest asset when it comes time for finding the right property and negotiations with the seller. Find one you can either partner up with or someone you are really confident in to help you. Having a Loan Consultant is also essential and can make it easier both with your purchase and then when selling your flipper the Loan Consultant will help qualify your buyers. In today’s market we are seeing most houses bought by First Time Home Buyer, so sticking to affordable home or staying in the conforming market would be a wise choice. That’s any loan in most states of 417,000.00. or below. When you ready to get started flipping properties call me, I’d love to help you make it as a flipper.

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