flip house: 6 Steps to Flipping Your First Home
- 10/08/08 01:58 PM
Step#1: Locate Prospective property to acquire. Some of my favorite methods include buying bank foreclosures (typically called REO's), working preforeclosure deals, placing ads in local newspapers, using bandit signs with "We Buy Houses" and my phone number. Step#2: Make offer. Be sure to use the correct formulas in order to maximize your profits, and minimize your chance of making a mistake. Reference 2 other ezine articles on the subject. Step#3: Fund/Close the Purchase of the property. You can alternatively try to assign your contract to another investor for a specified amount, or simply Option the property from the seller, and assign … (0 comments)
flip house: Flipping Homes Formulas - Using Hard Money Lender
- 10/07/08 02:57 PM
Buying, fixing, and reselling homes for can be extremely profitable. When cash is tight, and your only source of financing is expensive private lenders, or Hard Money rates, there are some general rules of thumb that most investors can use. Using Hard Money Lender (points for borrowing 6 point, and interest rates around 15%) ARV stands for After Repair Value, or what the home will be worth upon completion of repairs. Maximum Offer = (0.63 X ARV) - Repairs Or Maximum Offer = (63% X ARV) - Repairs Example: A house has an ARV of $100,000, but needs $35,000 in order … (0 comments)
flip house: Flipping Homes Formulas – Conventional Funding or Cash Purchase
- 10/01/08 01:35 PM
Buying, fixing, and reselling homes for profit is not an exact science. However, there are some general rules of thumb that most investors can use. Using Conventional Funds, or Cash (points for borrowing 1 point or less, and interest rates less than 8%) ARV stands for After Repair Value, or what the home will be worth upon completion of repairs. Maximum Offer = (0.70 X ARV) - Repairs Or Maximum Offer = (70% X ARV) - Repairs Example: A house has an ARV of $100,000, but needs $35,000 in order to achieve that value. Your highest offer should be: ($100,000 X … (0 comments)
flip house: Flipping Homes 2008 – Alive and Well
- 10/01/08 06:56 AM
While many investors, or possibly better terms speculators, have ran for the hills. REAL real estate investors are cashing in on fantastic deals every day in the United States. It really doesn't matter if the market is going up, down, or sideways, investors who have been taught how to properly buy homes in different markets and conditions will find a way to thrive no matter what external circumstances are presented. I know investors who have worked full time jobs this year, and have profited tremendously in their spare time in real estate by buying, fixing, and reselling homes. Whether their niche … (0 comments)
Step#1: Locate Prospective property to acquire. Some of my favorite methods include buying bank foreclosures (typically called REO's), working preforeclosure deals, placing ads in local newspapers, using bandit signs with "We Buy Houses" and my phone number.
;)
;)
