Finding Deals and Flipping Houses for Profit

Seasoned real estate investors always say that if there's one skill a newbie must be an expert at

, it would have to be finding deals. Call it an adage concocted by old people, but this statement does make sense. If you don't have a deal, your skills rehabbing a property won't make sense. If you don't have a deal, it doesn't make sense if you're good with advertising properties you sell. Therefore, flipping houses for profit is mostly about searching and finding the right deals.

So how do you find good deals? One thing you surely need to do is to let everyone know that you flip houses for profit. If people know that you buy houses, they will contact you. Sellers who are willing to settle for under the market prices are everywhere, across the country. But not all of them are aware that you exist. Spare them the effort and often embarrassment of having to stake a "for sale" sign in front of their property. If they know your office, email address, or telephone number they can communicate directly with you.

One good way to let people know that you are flipping houses for profit is to literally tell them. When you talk to neighbors, colleagues, friends, even people you've just met, try to figure insert a line like, "Oh me? I buy houses, even rundown ones." You'll be surprised how word of mouth works wonders. Another way is to give away your business card. A proven temple is one that has the words "I BUY HOUSES" or "WE BUY HOUSES" on one side and your contact information on the other.

You can also use bandit signs. See those cardboard signs on lamp and electrical posts? Those are bandit signs. What they must say is basically you buy houses and then your contact number. A word of caution though: some cities have strict rules on these signs. Be sure to check local codes. One trick used by most investors is they put up these signs on Friday afternoon or Saturday morning and take them out on Monday morning. City employees are on a break on weekends, right?

When flipping houses for profit, you must also learn how to drive or walk around your target area. This is one effective way of finding very good deals. Take note that if you flip houses for profit, you are likely to buy and sell rundown properties. These houses easier to spot driving or walking. If the owner is around, you can talk to him immediately and make an offer right away if he wants to sell the property.

Finding Deals and Flipping Houses for Profit

By: Hazel Wright

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