Nowadays, real estate investing, which involves the ownership, purchase, and management of real estate property for profit, is one of the most effective ways to earn money. Despite the ongoing economic crisis, many people are still keen on pursuing a career in this prolific industry because of the great opportunities it can bring.
One of the most popular forms of real estate investing is rehabbing homes. When rehabbing properties, an investor usually buys a dilapidated or undervalued house. Then, he will refurbish the property and do some cosmetic work before selling it at higher price. This can be quite an enjoyable activity for many people, especially for those who have flair in fixing and renovating houses. You can earn a huge amount of money while doing the job you love the most.
Meanwhile, if you want to try your luck in rehabbing homes, here are some simple tips that can help you succeed in this form of real estate investing.
1. Like in any business, conducting research is very important. It allows you to know more about your target market and learn the latest trends in real estate investing. Educating yourself with proper knowledge and information allows you to put your investing business on the right track.
2. Check out the neighborhood you want to invest in. Always remember that the location of the property is crucial to your business.
3. If you think you can save a lot of money by doing the repairs on your own, think again. Potential buyers might not be satisfied with the amount of work you have put in renovating the property and they could back out on you. Better leave the repair work to the professionals.
4. Don’t spend too much time and money on the property you are rehabbing. Make a budget and stick to it to avoid financial setbacks and other problems in the long run.
5. Always remember that just like in any other business, rehabbing homes needs patience, hard work and dedication on your part. Don’t expect that you will get rich as soon as you sold your first rehabbed property. It requires time and effort.
Just keep these simple guidelines in your mind to ensure that your rehabbing business is headed towards success. Meanwhile, you can log on to RehabList.com to learn more useful tips on real estate investing.
Wednesday, October 28, 2009
Tuesday, October 27, 2009
Top 2 Mistakes When Flipping Houses
With a lot of television programs showing how easy flipping houses can be, many are tempted to immediately jump into the bandwagon. They will only realize later that they should have read more articles about flipping houses, watched more instructional videos, and planned their projects more carefully. Neophyte flippers commit several mistakes in their first few flips and these are the two most common:
The first is buying a house without proper inspection. Sometimes, flippers or rehabbers find a very cheap fixer upper home. The deal’s so good they fear it might go to another flipper if they don’t seal it immediately. So, what they do is check the house themselves and swiftly buy it believing they saved thousands of dollars and outfoxed competition. They then discover that the property has structural problems and would require more than just “cosmetic” rehabbing.
Remember that you are a beginner and that while you will learn in time, there are some things you must leave to experts for now. It would be better to hire a qualified home inspector whenever you check houses. The inspector is trained to diagnose the problems you might encounter with the house you are about to buy. He knows whether the roof needs to be replaced or if the piping system is busted, among others.
What’s a few bucks for the inspector if you can avoid a mistake worth thousands of dollars.
The second is buying a house without checking updated cost of materials. So you’ve inspected the house and you think it needs some repair on the flooring. Last time you checked, hardwood materials were worth a penny so you buy the house, thinking it won’t cost you much to repair the floor. You go to the hardwood store and your eyeballs roll on the floor seeing that hardwood prices doubled in just a few months. Your repair budget is ruined and your profit is halved. Lesson: always check the prices of materials that will eat up most of your repair budget before you buy any fixer upper. Establish a good rapport with the hardware guy and give him a ring, asking “how much is this, how much is that.”
It never hurts to learn more about flipping houses. You can read more articles at Rehablist.com. Rehablist has a Learning Center portion where you’ll find articles, videos, and audio files about rehabbing houses and other forms of real estate investing. You can also find or advertise fixer upper homes through Rehablist. Just create a log-in account and you’ll gain access to free services offered by Rehablist.
The first is buying a house without proper inspection. Sometimes, flippers or rehabbers find a very cheap fixer upper home. The deal’s so good they fear it might go to another flipper if they don’t seal it immediately. So, what they do is check the house themselves and swiftly buy it believing they saved thousands of dollars and outfoxed competition. They then discover that the property has structural problems and would require more than just “cosmetic” rehabbing.
Remember that you are a beginner and that while you will learn in time, there are some things you must leave to experts for now. It would be better to hire a qualified home inspector whenever you check houses. The inspector is trained to diagnose the problems you might encounter with the house you are about to buy. He knows whether the roof needs to be replaced or if the piping system is busted, among others.
What’s a few bucks for the inspector if you can avoid a mistake worth thousands of dollars.
The second is buying a house without checking updated cost of materials. So you’ve inspected the house and you think it needs some repair on the flooring. Last time you checked, hardwood materials were worth a penny so you buy the house, thinking it won’t cost you much to repair the floor. You go to the hardwood store and your eyeballs roll on the floor seeing that hardwood prices doubled in just a few months. Your repair budget is ruined and your profit is halved. Lesson: always check the prices of materials that will eat up most of your repair budget before you buy any fixer upper. Establish a good rapport with the hardware guy and give him a ring, asking “how much is this, how much is that.”
It never hurts to learn more about flipping houses. You can read more articles at Rehablist.com. Rehablist has a Learning Center portion where you’ll find articles, videos, and audio files about rehabbing houses and other forms of real estate investing. You can also find or advertise fixer upper homes through Rehablist. Just create a log-in account and you’ll gain access to free services offered by Rehablist.
Searching For Fixer Uppers The Easy Way
The flipping houses business is growing amid the recession. Many have already taken advantage of the opportunity to make money by buying fixer upper homes and reselling them after making some repairs. Many still want to join the trend and are starting to learn about flipping houses as well.
Problem is a lot are encountering difficulties finding properties to flip. If you are struggling in your search for fixer upper homes, you are not alone. This is one problem hindering many beginners in the business as they still do not have contacts. You can try making connections with local realtors, wholesalers, and fellow house rehabbers and then ask them to refer any fixer upper home to you.
Another way to find these properties is to “manually” look for them. You can try roaming neighborhoods you like. Be sure to take down the address of any property that interests you. List down some details about that house like “green fence” or “trees near front door.” These little details will help you find the properties faster when you go back to inquire about them.
You can also do the old fashioned way of scanning local newspapers and classified ads. You won’t have to leave home with this method although the properties you will find, of course, are limited. But if you really want to look for the best fixer uppers without leaving you desk, search for them online.
Go to, for example, RehabList.com, which has an online network of sellers who want to advertise their properties. These are collated in one always up-to-date listing which is accessible by Rehab List members. Subscription to the site is free and easy. All you need to do is go to RehabList.com and create a member log-in account.
Since Rehab List allows members to advertise investment properties for sale, you will be sure that you will find available fixer upper homes in your area. The web site is flocked by visitors who make such posting as the online advertisement is also free. Search fixer upper homes at RehabList.com today and start your flipping houses business the right way.
Problem is a lot are encountering difficulties finding properties to flip. If you are struggling in your search for fixer upper homes, you are not alone. This is one problem hindering many beginners in the business as they still do not have contacts. You can try making connections with local realtors, wholesalers, and fellow house rehabbers and then ask them to refer any fixer upper home to you.
Another way to find these properties is to “manually” look for them. You can try roaming neighborhoods you like. Be sure to take down the address of any property that interests you. List down some details about that house like “green fence” or “trees near front door.” These little details will help you find the properties faster when you go back to inquire about them.
You can also do the old fashioned way of scanning local newspapers and classified ads. You won’t have to leave home with this method although the properties you will find, of course, are limited. But if you really want to look for the best fixer uppers without leaving you desk, search for them online.
Go to, for example, RehabList.com, which has an online network of sellers who want to advertise their properties. These are collated in one always up-to-date listing which is accessible by Rehab List members. Subscription to the site is free and easy. All you need to do is go to RehabList.com and create a member log-in account.
Since Rehab List allows members to advertise investment properties for sale, you will be sure that you will find available fixer upper homes in your area. The web site is flocked by visitors who make such posting as the online advertisement is also free. Search fixer upper homes at RehabList.com today and start your flipping houses business the right way.
Flipping Houses Essentials
Flipping houses is a method of real estate investing that involves buying a property for a low price then reselling it for a higher profit. Investors usually do the fix-and-flip method, wherein they buy a property and then make some necessary repairs so that it can be sold at a higher price.
This method of real estate investing has become more popular to investors in the United States. Reality television shows have contributed a lot to the popularity of flipping houses in the country. Many people get to see how one can make huge profits out of a dilapidated home. Since then, the interests grew. Before you delve right into flipping homes, here are some essentials you need to know:
• Determine what kind of property you want to focus on. Before you buy a house to flip, make sure you do your research, know which kind of houses sell fast and how much they cost. Identify the buying trend of the area you intend to get a property on.
• Location is key to a successful flip. Make sure that the property is at a desirable place. If the property is located in a place with high crime rates and poor economy, then you’re going to have a hard time looking for buyers. Ensure that the location is where you can actually live, not die.
• Budget efficiently. In flipping houses, you will need money to finance your repairs. Do not overspend on unnecessary repairs and decorations. Focus first on the essentials of the home. Make a list of the necessary repairs and analyze how much you will need to spend. Cross out unnecessary upgrades.
• Keep your day job. Do not quit your job until you’re earning millions a week. Just like any business, flipping houses has risks. Do not sacrifice everything, especially your source of income if you’re just starting out on the business. You will still need a steady source of income especially on making the repairs.
Bottom line is, before you start doing something, make sure you know the nature of it and what to expect from it. You can check out www.Rehablist.com if you need more information about flipping houses. The site has information about other real estate investing methods that can help investors who are just starting out.
This method of real estate investing has become more popular to investors in the United States. Reality television shows have contributed a lot to the popularity of flipping houses in the country. Many people get to see how one can make huge profits out of a dilapidated home. Since then, the interests grew. Before you delve right into flipping homes, here are some essentials you need to know:
• Determine what kind of property you want to focus on. Before you buy a house to flip, make sure you do your research, know which kind of houses sell fast and how much they cost. Identify the buying trend of the area you intend to get a property on.
• Location is key to a successful flip. Make sure that the property is at a desirable place. If the property is located in a place with high crime rates and poor economy, then you’re going to have a hard time looking for buyers. Ensure that the location is where you can actually live, not die.
• Budget efficiently. In flipping houses, you will need money to finance your repairs. Do not overspend on unnecessary repairs and decorations. Focus first on the essentials of the home. Make a list of the necessary repairs and analyze how much you will need to spend. Cross out unnecessary upgrades.
• Keep your day job. Do not quit your job until you’re earning millions a week. Just like any business, flipping houses has risks. Do not sacrifice everything, especially your source of income if you’re just starting out on the business. You will still need a steady source of income especially on making the repairs.
Bottom line is, before you start doing something, make sure you know the nature of it and what to expect from it. You can check out www.Rehablist.com if you need more information about flipping houses. The site has information about other real estate investing methods that can help investors who are just starting out.
Sunday, October 25, 2009
Flipping and Wholesaling Homes: Your Key to a Better Future
Over the years, real estate investing has helped many people achieve their goals and fulfill their dreams. Despite the ongoing economic crisis, many people are still encouraged to take part in this lucrative industry. Well, who could blame them? With just a small capital, patience, dedication, and hard work, you can earn big investment returns and provide a good life for your loved ones.
Two of the most common forms of real estate investing is flipping homes and wholesaling houses. Although many people confuse one for the other, using each of them to make a living has its advantages and disadvantages.
Wholesaling houses is the act of placing a property under contract and then assigning that contract to a buyer, who will close the deal. Many investors prefer this type of real estate investing over flipping houses. It is because they can earn a considerable amount of money without making big risks since they are not actually buying the property. In addition, they don’t need to borrow money from lenders since they don’t need huge amounts of cash just to get started in this business.
A wholesaler usually earns $5,000 to $20,000 per transaction. If he has acquired contracts for multiple properties, then he can pocket a large sum of money. A disadvantage of wholesaling houses, however, is that he might encounter problems when selling the contracts that he has acquired. In addition, a property’s holding cost is expected to increase if a wholesaler can’t still find a buyer for the property’s contract after a certain period of time.
Flipping homes, on the other hand, is the process of buying and quickly selling a property for profit. Unlike in wholesaling, an investor usually spends a considerable amount of money on a property. He can either sell the house as soon as he acquired it or do some repairs and upgrades before selling it at a higher price.
Investors usually hit the jackpot if they manage to find an undervalued property in the best part of the city. With some repairs and little bit of sprucing up, they can earn big bucks because of the property’s new look and prime location. A downside of flipping homes, however, is that just because you have succeeded in your first flip, it doesn’t necessarily mean that it will always be the case. There are times that you won’t easily find a buyer for the property that you have refurbished.
Therefore, no matter which method of real estate investing you choose, always remember to educate yourself with the right knowledge and proper guidelines. Conducting some research and reading instructional materials will definitely help start your investing business on the right track. In addition, they can help you avoid costly mistakes.
You can also join the local real estate investing association or befriend your fellow investors. Interacting with like-minded people allows you to gain valuable tips that can help boost your career.
To improve your knowledge of flipping homes and wholesaling houses, you can visit RehabList.com. The web site has various resources, which include articles and instructional videos, that can be valuable to a real estate investor like you. Log on to www.Rehablist.com for more details.
Two of the most common forms of real estate investing is flipping homes and wholesaling houses. Although many people confuse one for the other, using each of them to make a living has its advantages and disadvantages.
Wholesaling houses is the act of placing a property under contract and then assigning that contract to a buyer, who will close the deal. Many investors prefer this type of real estate investing over flipping houses. It is because they can earn a considerable amount of money without making big risks since they are not actually buying the property. In addition, they don’t need to borrow money from lenders since they don’t need huge amounts of cash just to get started in this business.
A wholesaler usually earns $5,000 to $20,000 per transaction. If he has acquired contracts for multiple properties, then he can pocket a large sum of money. A disadvantage of wholesaling houses, however, is that he might encounter problems when selling the contracts that he has acquired. In addition, a property’s holding cost is expected to increase if a wholesaler can’t still find a buyer for the property’s contract after a certain period of time.
Flipping homes, on the other hand, is the process of buying and quickly selling a property for profit. Unlike in wholesaling, an investor usually spends a considerable amount of money on a property. He can either sell the house as soon as he acquired it or do some repairs and upgrades before selling it at a higher price.
Investors usually hit the jackpot if they manage to find an undervalued property in the best part of the city. With some repairs and little bit of sprucing up, they can earn big bucks because of the property’s new look and prime location. A downside of flipping homes, however, is that just because you have succeeded in your first flip, it doesn’t necessarily mean that it will always be the case. There are times that you won’t easily find a buyer for the property that you have refurbished.
Therefore, no matter which method of real estate investing you choose, always remember to educate yourself with the right knowledge and proper guidelines. Conducting some research and reading instructional materials will definitely help start your investing business on the right track. In addition, they can help you avoid costly mistakes.
You can also join the local real estate investing association or befriend your fellow investors. Interacting with like-minded people allows you to gain valuable tips that can help boost your career.
To improve your knowledge of flipping homes and wholesaling houses, you can visit RehabList.com. The web site has various resources, which include articles and instructional videos, that can be valuable to a real estate investor like you. Log on to www.Rehablist.com for more details.
Wednesday, October 21, 2009
Flipping Houses: The Real Deal
We’ve seen how a group of hunky muscular guys make money out of nothing but their own strengths and decisions on television. We’ve seen them lose some money and earn a lot of money. But in the end, what matters most is how much they earned.
First of all, this method of real estate investing is called flipping houses. The term “flipping” originated in the United States that means buying an asset and quickly reselling it for income. Simply put, you buy low then sell high.
Properties that are usually flipped are foreclosures, fixer-upper homes, and new construction homes. Fixer upper homes are the properties that need some repairs or upgrades. A foreclosure home is an ideal property for flipping since it is sold in a very low price. New construction homes are brand new houses that are usually located in newly developed communities which attract upscale buyers.
Some people may start off the fix and flip business without enough money. A way to finance the process is to have a short-term mortgage loan that can be paid off immediately after selling the property. However, one must be aware that there are may be a rule that requires a borrower to live in the house for some time.
Contrary to some reports, house flipping is absolutely legal. It only becomes illegal once a mortgage fraud is involved. An example of a mortgage fraud is paying appraisers to significantly increase a property’s value to get bigger loans for themselves or their buyers.
Flipping houses is a great way to earn money for people who prefer to work on their own. This business does not require a fixed schedule to attend instead you can work on your own time and will. You can also build partnerships with other investors or simply work on your own.
One recognizable effect of house flipping is that the properties that were not sold or have been idle for some time are now occupied. Other properties surrounding the flipped houses increased the value since a lot are selling.
Investors who want to give flipping houses a try have every advantage today since there are many properties sold in very low prices. For more information about flipping houses and other real estate investing methods, check out www.Rehablist.com today.
First of all, this method of real estate investing is called flipping houses. The term “flipping” originated in the United States that means buying an asset and quickly reselling it for income. Simply put, you buy low then sell high.
Properties that are usually flipped are foreclosures, fixer-upper homes, and new construction homes. Fixer upper homes are the properties that need some repairs or upgrades. A foreclosure home is an ideal property for flipping since it is sold in a very low price. New construction homes are brand new houses that are usually located in newly developed communities which attract upscale buyers.
Some people may start off the fix and flip business without enough money. A way to finance the process is to have a short-term mortgage loan that can be paid off immediately after selling the property. However, one must be aware that there are may be a rule that requires a borrower to live in the house for some time.
Contrary to some reports, house flipping is absolutely legal. It only becomes illegal once a mortgage fraud is involved. An example of a mortgage fraud is paying appraisers to significantly increase a property’s value to get bigger loans for themselves or their buyers.
Flipping houses is a great way to earn money for people who prefer to work on their own. This business does not require a fixed schedule to attend instead you can work on your own time and will. You can also build partnerships with other investors or simply work on your own.
One recognizable effect of house flipping is that the properties that were not sold or have been idle for some time are now occupied. Other properties surrounding the flipped houses increased the value since a lot are selling.
Investors who want to give flipping houses a try have every advantage today since there are many properties sold in very low prices. For more information about flipping houses and other real estate investing methods, check out www.Rehablist.com today.
Flipping for a Living
Real estate investing has been a very lucrative job for most people. What they do not know is that it requires a lot of hard work, patience, and persistence. Flipping houses, in its nature, is buying a property then quickly reselling it for profit. There are several methods to flip a house for a living.
One is through retailing. This process is when you buy a house in a bad shape but cheap cost, repair it, and then sell it for higher profit. There are many houses that can be bought for cheap cost that only need little repairs. It’ just a matter of where you look. Rehablist.com has a search engine where buyers can search for properties to flip.
Another way to flip a house is through wholesaling. You find a home for sale then flip it to another investor for a quick profit. Although the profit may be small, you can get the cash fast. You will need to know the investors in your area to be able to do this method. Another thing that you should keep in mind is the types of properties to flip and how much budget you need. This method is much easier if you live in a huge city where there are lots of investors eager to do business with you.
Real estate investing can sometimes be a complicated business. In order to succeed, you need the right information and tools. Being in a rush and not having the proper knowledge are common mistakes that anyone can make in real estate. Be sure to have done your research before you start in your venture.
To know more about house flipping for a living, log on to Rehablist.com today. The site specializes on flipping houses and provides helpful information on how to flip for a living. The site also provides a learning center that provides instructional videos on flipping houses featuring top investors in the country. You’ll be learning straight from the experts. Learn and master the “Art of Flipping Houses” in instant.
One is through retailing. This process is when you buy a house in a bad shape but cheap cost, repair it, and then sell it for higher profit. There are many houses that can be bought for cheap cost that only need little repairs. It’ just a matter of where you look. Rehablist.com has a search engine where buyers can search for properties to flip.
Another way to flip a house is through wholesaling. You find a home for sale then flip it to another investor for a quick profit. Although the profit may be small, you can get the cash fast. You will need to know the investors in your area to be able to do this method. Another thing that you should keep in mind is the types of properties to flip and how much budget you need. This method is much easier if you live in a huge city where there are lots of investors eager to do business with you.
Real estate investing can sometimes be a complicated business. In order to succeed, you need the right information and tools. Being in a rush and not having the proper knowledge are common mistakes that anyone can make in real estate. Be sure to have done your research before you start in your venture.
To know more about house flipping for a living, log on to Rehablist.com today. The site specializes on flipping houses and provides helpful information on how to flip for a living. The site also provides a learning center that provides instructional videos on flipping houses featuring top investors in the country. You’ll be learning straight from the experts. Learn and master the “Art of Flipping Houses” in instant.
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