Flip A House ... Yes, You Can Do It, Too!

Here's how to Flip A House and Make Money. It can be done, but you better make sure you know what you're doing, or be prepared to lose a truck load of money! 

flip a house

Late night Infomercials make house flipping deals seem easy, but that's what commercials do. Still, it's possible for otherwise ordinary people to become successful flippers - even I was able to do it...in fact, repeatedly, time after time. I got good enough at it that it was my only source of income for several years.

Watching TV Shows  
I learned a lot by watching house flipping tv shows.  The names didn't matter, but the content did! I was single minded about inhaling the tips, techniques and strategies being discussed. Those house flip tips fueled my excitement and started me to thinking that I could flip houses, too. 

I also learned through self study flipping real estate courses, including books checked out from the the library.  Additionally, I talked to friends and co-workers who were buying/selling real estate and took note of what the real estate investors in my community were doing. Still, that first flipping property course was a critical first step when it came to learning about real estate, flipping homes, etc.    

Flipping Courses and Seminars 
I got some of my best house flipping tips from real estate investment seminars, where I learned concepts like "buyer brokering", "sandwich leases", "no money down" purchases, "110% financing", "simultaneous closings", how to buy a property and "walk away from the closing with cash", etc.  As you might imagine I didn't learn all of these things at once and certainly didn't use them at the same time, but each one created a different way of channeling homes, houses, land, buyers, sellers, investors and seller real estate agents for investment opportunities.

Yes, You Too Can Make Money Flipping Real Estate  
If you haven't flipped a house yet you're in for a real treat. There are few things as intoxicating as

  • buying a house and getting paid at the closing
  • a deal where you close fast and have little money and time in the project
  • having a real estate agent give you leads on houses yo might be interested in flipping where you make $15,000 - $50,000

or when you flip a house and take several months off with no worries about bills or anything else.  

It's really not complicated when you know how to do it, especially in today's market where foreclosures, bank owned properties, short sales and abandoned homes are common. ; and you can find deals by accident.  However, that doesn't mean that flipping property is a casual stroll in the park. 

Assembling A Team
Surrounding yourself with a team of professionals who can contribute by giving good, sound, ethical and legal advice will be fundamental to your success.  At a minimum it should consist of an attorney, a title company, a real estate agent, several different contractors, an appraiser, a surveyor, a home owner insurance agent, and a pest control company for termite inspections.  You also want to have a list of subcontractors that include an electrician, a plumber, carpenter, a roofer, a heating and air contractor. 

Prime For First Time Home Buyers?
I think yes! While you may not hear as much about flipping real estate in today's economy than in years past there are still plenty of opportunities, especially for first time homeowners who are willing to buy, move in, fix and flip when the housing market turns around.  They have to live somewhere, right?  So, why not flip a house after living in it for awhile?

See more about flipping real estate here.

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