- Full Description
Lets face itfixing and flipping houses is sexy. Who doesnt love the idea of buying a rundown, mold-infested shack and transforming it into someones dream home for massive profits? Reality TV shows make it look so easy. A little paint here, some new kitchen cabinets there, and presto! The house is sold for big bucks and everyone lives happily ever after.
If only it were that simple. Fixing and flipping houses is a business. In order for a business to survive, prosper, and grow, systems must be put in place. Fixing and Flipping Real Estate: Strategies for the Post-Boom Era is a book that breaks down the four essential components of a fix-and-flip business, giving you the building blocks to efficiently buy and sell 1 to 20 properties a month in todays post-boom era housing market. Youll learn about each of the boxes:
- AcquisitionHow to find and buy a profitable real estate deal.
- RehabbingHow to systematically remodel a house and how not to underimprove, or overimprove, your property.
- SalesHow to sell your flip for the highest possible price in the shortest possible time.
- Raising CapitalHow to get the capital you need to grow your business, including using other peoples money, for your real estate deals without getting sued or going to jail.
What youll learnReaders will learn how to:
- Buy bank-owned houses, short sales from underwater homeowners, and foreclosures at auction.
- Determine your target neighborhood, price point, and property.
- Calculate accurately repair expenses, holding, and closing costs.
- Negotiate with contractors, tradespeople, and suppliers for the best pricing.
- Get distressed home sellers and Realtors calling you first about great deals.
- Use other peoples money to help you reach your financial goals.
- Manage risk and invest conservatively and responsibly in real estate to protect your capital.
- Improve greatly your chances of success by fixing and flipping houses as a business rather than as a hobby or a lark.
Who this book is for
If youve ever thought about supplementing your current income by fixing and flipping a house, or quitting your job to make flipping houses your full-time business, then Fixing and Flipping Real Estate: Strategies for the Post-Boom Era is the book you need. It is for motivated, entrepreneurial self-starters who want to earn an extra $10,000 to $200,000 a year while reducing the risk any real estate investment entails.
- Table of Contents
Table of Contents
- Begin with the End in Mind
- Identifying Your Niche
- Analyzing Deals
- Acquisition Strategies
- Common Mistakes
- First Steps
- Team Building
- What to Fix
- Cost Control
- Common Mistakes
- Selling Your House
- Contract Analysis
- Talking with Lenders
- Influencing Appraisals
- Low Appraisals
- Settlement Statements
- Common Mistakes in Selling
- Creating a Track Record
- Where Is the Money?
- Types of Investors
- Partnerships: Equity Partners
- Private Money: Debt Partners
- Scope of Work
- Independent Contractor Agreement
- Deed of Trust and Assignment of Rents
- Promissory Note
- Sample HUD Settlement Statement
- IRS Form W-9
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