|
|
|
|
 |
The House Flipping
Trend
|
Picture this: You purchase a run-down
old house at a local auction. The house is falling apart, maybe even
in the kind of ways that require Condemned signs, and you walk away
thrilled to have spent $65,000 of your hard-earned money to own it.
What world is this?
This is the world of house-flipping. If you haven’t heard of house-flipping,
chances are you don’t work in real estate.
Then again, neither do many house-flippers, at least not at first.
House-flipping is the new term devised for people who buy properties
in bad shape, ideally with little structural damage but plenty of cosmetic
wounds. These people rebuild the houses within a strict profit margin,
and use a little real estate know-how to produce a salable house, ready
for the market. Then they sell it for many times the price of original
investment plus construction.
With the real-estate market booming, more and more everyday people are
getting involved in this business of fixing up real estate to sell.
Some people live in the houses as they flip them; others just buy, buy,
buy, send out crews, hold open houses, sell, and buy some more. It
all depends on your budget, and the kind of flipping you’re willing
to do.
It generally takes a professional, with lots of investors and money
in the right places, to take a truly destroyed property and make it
salable. Amateurs do best sticking to houses that might have terrible
paint (or no paint at all), ripped-up lawns, bad tile, and other cosmetic
damage that they can fix at low cost. Once you get into the horrors
that can be caused by termites, rotten wood, and caving ceilings, you’re
probably talking about a job for the professionals.
Of course, many shrewd house-flippers, even the ones with investment
backing, won’t flip a house with too much damage. You might fall in
love with a rustic old Victorian and cherish the idea of restoring it
to glory, but the world of a house-flipper is all about profit. Those
who get emotionally involved with the properties are in trouble. Before
you know it you’ll find yourself in over your head trying to fix problems
whose expense is going to far surpass what you might be able to sell
the house for later. A true house flipper knows when to walk away.
For anyone intrigued by this new trend in the real estate market, it
helps to know as much as possible about your local real estate market.
Maybe a house with some fairly serious damage is still worth the cost
of repair if it’s located in a prime area. Informed flippers will know
at a glance what might be worth their time. The world of house-flipping
is an oddly shrewd one, considering the creature comforts they work
with every day. These are people that are able to thrill over installing
a cathedral ceiling, and walk away from it at a moment’s notice if it
flies over budget. These are not people who go weak at the sight of
old paneling. They might go weak, however, at the cost of repairing
it.
It all boils down to a numbers process. Those interested in house flipping
should start slowly. Study the market, watch the numbers, and get advice
wherever possible. When you make the plunge and purchase your first
flippable house, congratulations. Now don’t get attached, because if
you do your job correctly, it won’t be yours for long
About The Author:
Peter Dobler is a veteran in the IT business. His passion for experimenting
with new internet marketing strategies leads him to explore new niche
markets.
Read more about his experience with real estate; visit
http://real-estate.online-business-idea.com
Other Real Estate Related Information
|
Buy Real Estate
With No Credit
 The
painless way to secure your dream home or first investment property
guaranteed. Complete instructions with a 100% ironclad money
back guaranty.
Get more information
|
|
Do You Have
Bad Credit?
Don't give up!!
Our list of lenders and credit card
companies are willing to give you another shot. They realize
that good people can have bad credit.
Whether you have
had minor problems in the past or even bankruptcy, our lenders
are there to help you not only receive a loan, but also to re-establish
your credit.
Are you ready to
get your second chance?
Get more information
|
|
Mortgage Loan Tips
 "Excellent
for first time buyers, move-up buyers or refinancing. I cannot
recommend it highly enough - this should be required reading
for anyone who wants to get a loan."
M. Klinger, Real Estate Broker
Aventura, FL
Get more information
|
|
Credit Repair
- Erase Bad Credit Now!
 Are
you tired of Bad Credit? - High Interest Rates? Disapproved
Credit?
Use my experience today, and I will show you
how to get every negative item Removed from your Credit Reports
within 1-3 Months. Guaranteed!
Get more information
|
|
Credit Secrets
 "How
to Clean Up your Credit Report and Wipe All Your Credit Card
Debts in Record Time!"
Take a moment to imagine this...
On any given day you could be receiving new pre-approved credit
card offers in the mail, you could able to purchase a new home
without worrying about qualifying for a mortgage, financing
for automobiles and boats could be readily available to you,
and...you could have piece of mind knowing that should an emergency
arrive you would have the resources to take care of you and
your family.
Get more information
|
|
