You bought an investment property to flip. You hired contractors to rip out the outdated kitchen and bathroom, and install beautiful new fixtures and floors, with a fresh coat of paint.
You have a lot of money tied up in this investment, and you want it to sell fast. Why? Because time is money, and real estate is no exception. The faster the sale, the quicker you can move onto to flipping your next house.
You need a listing that will catch the attention of prospective buyers on their laptops, smart phones and tablets. It has to motivate them to call you or your agent.
One of THE MOST IMPORTANT part of your listing are the photographs.
In this week's vlog, Michael Owen discusses
Find the video below!
Volume 2: Episode 1
In some markets, the supply of homes to flip may be too limited for your investment goals. Some investors turn to buying land and building homes to sell at a profit.
This can be a great way to earn profits in real estate. However, you must do your homework. There are many things that you need to check out in detail. These include, but are not limited to:
Flip University co-founder Michael Owen talks about these and more in this week's video.
We welcome your comments, questions, and suggestions!
Selling on assignment refers to having a house in contract to purchase, and you assign the contract to another buyer for a finder's fee or commission. This is one of several ways of making money in real estate, particularly in hot markets.
Be upfront with the seller if you plan to assign the contract. Leaving it to the fine print to inform the seller is a sure way to cause bad feelings. You do not have to disclose any particulars with the seller.
Absolutely, under no circumstances, let the assignee (the person you are assigning the contract to) inspect the property without you present. You want to be involved in any communication that goes on between the seller and the assignee.
Make sure that your contract has strong enough wording to allow you to assign it.
Ensure that you have a solid signed contract with the seller before having any potential assignee inspect the property.
You want to...
When it comes to flipping houses, Flip University co-founder Michael Owen knows his stuff! In this video blog, he gives very useful free tips and advice on how to invest in and capitalize on your flip properties.
It is very important to know your numbers and local real estate market factors. Your research begins well before the foreclosure auctions. You need to have scoped out the properties you are interested in, and have done the math on the numbers including the bank value (minimum bid), square footage, cost per square foot, budget for anticipated repairs, comparative market values, and the after-repair value. This will help you decide on the top dollar you should pay for a given property.
Be disciplined at the auction. Do not let yourself get involved in the heat of the auction. Do not bid above your researched top dollar value for the property. Emotions and ego do not pay the bills -- disciplined research will help...