FLIP TO WIN!
A STEP BY STEP APPROACH OF WHAT YOU NEED TO KNOW WHEN BUYING TO FLIP.
IN THE PAST 10 YEARS THERE HAS BEEN A FLOOD OF NEW INVESTORS WANTING TO BECOME INVOLVED IN SPECULATING REAL ESTATE. DURING THE COURSE OF THE NEXT WEEK , I WANT TO SHARE SOME IDEAS, SUGGESTIONS,AND CONCERNS ON HOW TO SPECULATE . I BEGAN "FLIPPING" HOUSES IN THE EARLY 90'S. SINCE THEN I HAVE BEEN INVOLVED IN NUMEROUS TRANSACTIONS. EACH PURCHASE AND SALE I COUNT ON MY TEAM FOR ADVICE.THESE ARE THE PROFESSIONALS YOU WILL NEED.
STEP 1
BUILD YOUR TEAM OF PROFESSIONALS.
1.ATTORNEY
,BE SURE TO RETAIN ONE THAT SPECIALIZES IN REAL ESTATE(IF POSSIBLE ONE THAT ONLY DOES R.E. TRANSACTIONS)
2.APPRAISER.,
THEY WILL MAKE SURE THAT THE VALUE ON THE HOUSE IS CORRECT FOR THE BUY. THE APPRAISER WILL ALSO PROVIDE A SELL OUT NUMBER BASED ON IMPROVEMENTS YOU PLAN ON MAKING.
3.HOME IMPROVEMENT CONTRACTOR; THIS IS A KEY HIRE!!!YOUR CONTRACTOR CAN BE THE DIFFERENCE BETWEEN MEETING YOUR FINANCIAL GOAL, BREAKING EVEN OR WORSE LOSING A FEW BUCKS.MAKE SURE YOUR CONTRACTOR IS LICENSED AND INSURED.(VISIT ONE OF THEIR JOBS TO VIEW THE QUALITY OF WORK)
4.HARD MONEY LENDER.
FOR THE PROJECTS THAT ARE NOT MORTGAGEABLE*(WE'LL DISCUSS THIS AVENUE LATER ON IN THE WEEK)
5.LOAN OFFICER.
SPEAK WITH A EXPERIENCED LOAN OFFICER YOU CAN TRUST TO GET THE JOB DONE QUICKLY.
6. PROFESSIONAL REALTOR .
A TOP PRIORITY HIRE ! A SEASONED BROKER WITH KNOWLEDGE IN INVESTMENT HOMES IS KEY TO SELLING YOUR HOUSE QUICKLY AFTER RENOVATIONS ARE COMPLETE .ITS BEEN PROVED THAT A LICENSED REALTOR WILL YIELD A 16% GREATER MARGIN ON AVERAGE IN THE SALE OF REAL PROPERTY..
*REMEMBER YOU'RE THE LEADER.SURROUND YOURSELF WITH PROFESSIONALS WHOM YOU CAN TRUST TO GET THE JOB DONE IS THE FIRST STEP TO SUCCEEDING IN SPECULATIVE REAL ESTATE.
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