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FIVE GREAT TIPS ON HOW TO MAKE A PROFIT FLIPPING A HOUSE
  FIVE GREAT TIPS ON HOW TO MAKE A PROFIT FLIPPING A HOUSE 
 
These are the things you must know:

After Repair Value (ARV).  You will need a Realtor for this unless you have a real sharp handle on the market. Net profit--this is the number that you want to take home Carrying costs--every day you own the house it costs you money--mortgage payments, taxes, insurance, utilities Cost to repair--this can be really hard to figure out. Do an item by item number.Don't forget permits and city inspections.  I always add in an "oops" category for things I missed or forgot about Marketing to sell--Realtor fees, closing costs, buyer closing cost help How much do you have to buy the house for?
That is the magic formula.  
Since I can be math challenged, let me use round numbers..
ARV  $100,000
Net Profit  $10,000
Carrying Costs $5000
Cost to repair $15,000
Marketing/closing costs $10,000
Oops--$2000
According to these numbers you need to buy the house for $58,000.  Do when you see a house that needs some work on it does not mean it is a good deal.
FIND A PROPERTY
I believe that this is the hardest part.  Unless you advertise or have a big name, you are ... more

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