3 Things To Remember When Flipping Houses

Three musketeers

Three musketeers. Three kings. Three little pigs. It seems things related to the number three are easier to remember. This might also hold true for flipping houses. Before you jump into this form of real estate investing, be sure to remember these three things. You can spend years and years in this venture but these three things wont change. Ready? On the count of three.

One. Time is your greatest asset when flipping real estate. In this business, everything revolves around time. You just dont have the time to slack off when you have a prospective deal waiting. When you flip or wholesale a property, you need to act fast. Thats why its called flipping; its done fast. What you need to do is to place a target property under an assignable contract. You will then look for a buyer who needs the property. Assign the contract to that buyer and move to the next deal. It can be a numbers game to the faster you close deals, the more money you will earn. Some investors can close a wholesaling houses deal in just a few days; Use that as an inspiration.

Two. Flipping houses is a solution. Whenever you market your business, be sure to make parties know that you are offering them a solution. Remember, the seller of the house you want to place under contract is usually in some form of financial problem thats the reason why that for sale sign is erected on the yard. If he will place the property under your contract, he wont get an amount as big as what a retail buyer will offer. But, he will get it much sooner and hell be able to solve his problem much sooner. It is a viable way out. It is a solution. The buyer is looking for a property and you have the solution to his problem in a contract.

Three. Your education never ends. Flipping houses is simply a never-ending learning process. You wont be going to school for it but the more you know about, the better. The saying knowledge is power applies to this business. You can avoid making huge mistakes simply by learning everything you can. Read books and magazines. Attend seminars on wholesaling houses and real estate investing. If you dont have the money to undergo personal mentorship, what you can do is go online and search for education on the Internet.

Are you ready now? Go to Rehab-Real-Estate.com to test your readiness.

by: Jason Lewis

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