Make Money by Flipping Homes

Make Money by Flipping Homes

Make Money by Flipping Homes

Flipping homes is the most popular type of investment in the real estate business today. More and more people are engaging in this venture because it is legal and it is a profitable source of income. The process is very easy that's why a lot of people try it. Here are the basic information about flipping homes can help you understand this venture better.

Flipping homes has two different types. The first one is wholesaling. This is also known as the "assignment of contract." This is the best property investment for new investors. The process is very easy. Even those who have little knowledge about investing can do this.

Wholesaling starts by finding a motivated seller. A homeowner who wants to sell his house ASAP makes the investment worthwhile. Why? Because he's willing to sell the property for a very low price. Situations like job loss, divorce, health issues are the most common reasons why some people want to sell their property.

There is no need for you to buy the house from the seller. After finding the property, you search for a buyer. A buyer completes the transaction when he pays the full amount of the house. You assign the contract to him. After paying, he will sign the contract. He is now the new owner of the house. After the transaction, you get your assignment fee. This is your profit for closing the deal. The amount depends on what you and the seller agreed on. It's that easy. No money down.

Rehabbing is the second type of flipping homes. Also known as fix and flip, this type involves buying a property, repairing it before selling again. Profits are bigger in this type because improving the property increases its market value. This may take a while compared to wholesaling because of repairs. Huge amount of money is needed when rehabbing. Funding should cover the purchase and repair costs.

The investor may opt to use his own money if he has. Once the house is sold, he can take back his money plus the return of investment or his profit from the resale. Rehabbers can also turn to hard money lenders in case their funding is not enough. They can borrow the amount needed then repay the lender after reselling the property.

Flipping homes can give you steady cash flow if you know how to do it efficiently. To avoid committing costly mistakes, research first before taking your first step. There are a lot of considerations to make such as budget, selling price, legal documents, and time before you start flipping properties.

Make tons of cash by flipping homes. Visit RehabList.com today. A great opportunity awaits you.

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