How Do You Flip a House?

“How do you flip a house” is probably one of the most commonly asked question by a newbie investor, and despite the myth that you need money, credit and construction experience to be successful at real estate investing, becoming a house flipper is easier than you think, but only if you’re willing to put in the time it takes to build it.

Being a house flipper can be a fun and profitable business in any market as long as you take the time to learn how to flip a house.

Flipping a house requires patience, persistence, and the right education. บริษัทรับสร้างบ้าน

Below are some simple yet effective steps for you to follow in order to become successful at flipping houses.

1.) Find – Finding the right deal first is crucial and probably the most important step when it comes to asking “how do you flip a house.” Why? Because without a good deal you can’t make any money when you flip a house. Build a strong, reputable network. Start with REO realtors and work your way from there. You might also want to try the trustee sales auction for great deals, but be very careful because one mistake here and it could cost you your life savings. Stick with the basics for now, You’ll have more than enough deals for you to flip a house.

2.) Fund – Once you have a good deal under contract you need to fund it and despite popular belief that you need good credit, this is simply not the case. There are what you call hard money lenders and private money lenders that will lend you money based on the deal itself and not your credit.

3.) fix – Many newbie investors think they need to have construction experience to fix up a house. Remember flipping houses is about speed, speed, speed. Outsource the work and manage the project. (It’s actually cheaper than you think to outsource.) Learn to negotiate and stick to your gun. Stick with a simple cookie cutter system, use the same color paint, carpet and fixtures. (Save the creative construction work for your own house.)

4.) Flip – Now for the fun part. This is where you get paid. When it comes to flipping there are many ways to go about it, but if you took my advise and built a strong network, did your homework and priced it right, you’ll have no problem when it comes to flipping a house.

Follow these steps and you’ll never have to ask yourself “how do I flip a house.”

Mauricio Lopez lives in Las Vegas, Nevada – and is a full time Real Estate Investor – Has successfully flipped over 50 homes and counting. Mauricio Lopez has been an active real estate investor since 2006.

 

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