So, you want to get into the flipping game and make money or possibly you had a bad experience with flipping a property and want to learn how to flip a property and actually make money? First of all, let me say that I dont believe in expecting a large return on a flip if all you do is sign your name on a closing statement and expect to turn it around quickly. Its just not that easy.
What can happen though is that if you follow some of my techniques you can expect to earn a nice profit for yourself. There are five keys to success that I would like to discuss in this article. They are: (1) you must buy the property right, (2) you should be willing to shop for good deals, (3) you must not be afraid to get your hands dirty, (4) you must be reasonably handy, and (5) you need to do most of the work yourself.
How to buy the property right. Heres where you need to either be a real estate agent or work with one. Knowing the market area is essential to getting the right house at the right price. Are prices in this area increasing? Are others improving their homes? Is the homes sale price consistent with the repairs needed? Does the listing allow for an easy out of...
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