vicki irvin's (virvin) Blog

      Let's try an example. Suppose we were to purchase a house with a market value of $250,000 for $200,000, which is 20% below market. Let's also assume that it only needs $20,000 in repairs. It looks like we have a potential profit of $30,000, not bad. In fact, this is similar to the scenarios...

      One of the main reasons that people lose money when trying to flip a house is that they pay too much for it. Most people do not know how to evaluate a house in terms of potential profit. Sadly, this generalization would include the majority of real estate agents. That is not to say that the...

    A great place to meet other people in the business is by joining a local real estate investment club. These clubs meet on a regular basis, usually monthly, to offer educational and networking opportunities to members. The topics can cover a wide variety of real estate related areas and be a g...

    One of the best ways to find suitable property is through networking. The more people who are aware of what you are looking for the more likely you are to have someone tell you about a potential deal. You should have business cards made with your contact information and a summary of what you ...

     Some states also sell tax liens. When a homeowner does not pay the taxes on a home the municipality will place a lien on the property for the amount owed. These tax liens may be sold to investors. The homeowner has the right to clear the lien by paying the back taxes, interest and any penalt...

       One method that is becoming more popular is the use of auctions to sell homes. Prior to attempting to use this method you need to understand the process. An auction can be an absolute auction or a reserve auction. In an absolute auction the house will be sold to the highest bidder regardle...

      Estate sales can be another good way to acquire a property. When someone dies and the property needs to be sold in order to distribute money to the heirs it is possible to make a favorable deal. Sometimes the heirs will insist on getting market value or close to it, but other times the heir...

  Many flippers will advertise in much the same way those wholesalers do. They will place ads in newspapers and low cost publications saying things like "We buy houses, any condition, all cash, fast close." They also use bandit signs, which are small signs you see on the side of the road or poste...

  After a property is taken back by the lender it is placed in its REO portfolio, REO is an abbreviation for Real Estate Owned. The lender's REO division will evaluate the property and assign it to a Real Estate Agency for sale. In the past, these properties were generally priced very near marke...

  Foreclosures are another way to obtain property. When a borrower defaults on a home loan, or mortgage, the lender begins the process of foreclosing on the property. The process varies from state to state depending on the laws in place. A late payment will generate a late notice to the borrower ...