Flipping Houses in 5 Basic steps
Flipping Houses
What's "House Flipping"?
The phrase "Flipping houses" simply refers to the procedure for buying a house at an affordable price and then selling, or "flipping" it to get a high price. No-one is able to do that easier and quicker than property wholesalers.
Real Estate Mogul
Wholesalers will be the underground band of rock stars who literally increase the risk for real estate investing world go 'round.
Wholesale House Flipping
Property wholesalers will be the source of every one of the deals.
We are the producers behind the camera which make all the Actual money as the actors (rehabbers and landlords) get pimped for pennies.
And truth be told, we are making the cash (specifically in this market).
A wholesaler is just a house flipper who fades and secures property at below market cost and sells their interest towards the general public at "wholesale" prices.
Nobody can tell these items that i'm telling you, in addition.
Your realtor won't tell you this.
Your banker is not going to tell you this.
Real estate investing books in shops aren't going to tell you this. Carleton Sheets sure as H-LL will not inform you this.
Be the Property Shovel Salesman
The actual Money-Makers
Guess Who Made The money Inside the Gold Rush Of The 1850s?
Could it have been individuals locating the gold? Nope.
It was the folks selling the shovels!!!
Selling shovels is so much simpler than digging for gold. It really is.
The same as real estate investing is so much easier than hammering nails and renovating houses. We work smart ... easy.
We don't participate in the orchestra ... we direct the orchestra.
?Imagine sitting around your house each day just casually talking on the phone, tinkering with your computer and doing stuff you find fun and enjoyable.
Oh, and checking your mailbox for checks every day. That's literally my reality.
All my friends that are wholesalers make well over a million dollars annually. They drive luxury cars and live in mansions.
All of my friends who're landlords ... well let's just say they don't drive luxury cars or are in mansions. However they sure are busy!
I'm not really trying to be busy. I'm trying to be FREE.
That is precisely what I want for you personally, my buddy: Real freedom. Freedom to do what you need when you wish in whatever fashion you would like.
And flipping houses is the place you use that.
Flipping Houses = Financial Freedom
The thing is, initially when i first started off in solid estate (before I stumbled upon wholesaling), I used to be working being a dog.
�Wealth might be a great thing, for this means power, also it means leisure, this means liberty.�
- James Russell Lowell
Buying houses and renting them out ...
Wanting to talk sellers into owner financing ...
Trying to lease option then re-lease option exactly the same house ... Along with a large number of other �creative real estate� tactics.
I had been actually lured to write �schemes� as opposed to �tactics� but did not because those avenues are viable selections for real estate investor (if you enjoy dying young from stress and working even harder than once you were within the pit of debt).
I not just didn't have any money, I had been Taking a loss!
I'd numerous rental properties but almost do not require were cash flowing (hard to do in a inflated market like the one I entered on the west coast of Florida in 2004).
All along I'd this friend rolling his eyes every time I told him he was doing the work incorrectly by selling (flipping) on a regular basis. ??
?�You must hold for long-term wealth!� I would exclaim. More eye rolling.
And so the longer I hung out with him the greater I acquired sick and tired of watching him drive a 500SL plus a custom H2 Hummer, live in a mansion, and have 500,000 in cash hanging out at all times.
I had been broke.
Broke With Property Investments
I owned a lot more property than him. However i was broke. And i also was tired of it.
The afternoon I decided to market my houses and go regular into real-estate wholesaling ... will be the day my life truly began.
True Freedom
There's a better and much easier method to produce passive income than rental properties folks.
Rental properties are a second job. It�s work; I don�t care if you have a home manager (rendering it even more complicated to cash flow your properties).
It does produce long lasting wealth for several people (despite the fact that in my opinion it�s no way to live), but hear me out here ... Be sure you have a fortune before you start doing it.
Many people just rush out and get up a bunch of houses to keep as rentals. When vacancies and repairs taxes and insurance kick in, they go bankrupt.
This amazing site, RealEstateMogul.com, was made for anybody who, much like me, want a Large amount of ca $hola.
Make use of the cash to visit buy up a lot of accommodation if you want, but get the cash first.
Flipping houses through wholesaling is simply a approach to produce a Lot of money.
??The harder cash you have, the greater passive your role can be inside your investments.
For example, let�s say all you have is $50,000 for your name. You would like to open for restaurants. It's now possible bet your bottom dollar you will end up physically employed in that restaurant for quite a while in order to view it succeed.
Now let�s if you have $4,000,000 in cash. You want to open a restaurant. You could easily work it where you don't ever even enter within it and it will still be successful.
Shall we be on the same page?
Use wholesale house flipping to produce mass lots of cash so you develop truly passive investments!
That�s my thinking anyways. Go on it for what it�s worth. Right here is the wholesaling formula inside a broad stroke:
Wholesale House Flipping Formula
Locate a motivated seller and negotiate a sales price around 40 to Sixty percent of the after repair value (the value of the home whether it were in top condition). Sometimes less. The reduced the higher (duh).
A year ago I put a house under agreement for $15,000 plus it was worth $90,000. Position the house under contract with so long an inspection period as possible manage.
Go ahead and take price which you agreed on and mark it up anywhere from $2,000 to $100,000 (it will require a while for you to get the feeling for which you think it'll sell quickly for).
Market the property to your community�s band of property investors (more about that later).
Once you see your buyer, simply assign the agreement to them along with your profit documented as an �assignment fee.�
Get money. Once the deal closes, take your $2,000-$100,000 profit towards the bank.
Then repeat Steps 1-5.
That�s wholesale house flipping in summary.
Doesn�t sound so difficult will it??
That�s because it�s not. Let�s get started �
Sign up for a free RealEstateMogul.com account and you'll well be on your journey to financial freedom flipping houses in no time.