subject: Stunning Austin Real Estate Investment [print this page] You can make a stunning Austin real estate investment today and reap its benefits quickly. Unlike before when real estate meant years of waiting, todays market runs faster. Thats because there are short-term methods of investing that are effective in Austin and in many parts of the country.
Try Flipping Houses
By definition, flipping is the purchase of a property with the intention of quickly reselling it for profit. This method can also be used in real estate. There are two ways you can flip houses. One is called wholesaling houses and the other is known as retailing or rehabbing.
The first method is perhaps the quickest of all real estate businesses. When you wholesale properties, what you do is look for houses for sale. Instead of buying these houses, you will only place them under a contract that will give you the right to purchase them. Once you have the property under contract, you must find a buyer who is interested in that Austin real estate investment. Then, assign him the contract for a few thousand dollars and youre done with the transaction. This can happen in as fast as a few days. Those who are wholesaling houses in good markets like Austin are earning between $5,000 and $10,000 per transaction.
The second method of flipping houses is rehabbing. This is simply buying cheap houses and raising their value by making repairs and improvements. This business takes longer than the first method because of the repairs involved. Also, you close twice in this method; the first when you buy the cheap property and second when you sell it. Despite the time and effort, a lot of investors in Austin and other part of the country prefer this method because of the bigger checks that play around the $30,000 mark.
Points to Remember
If you plan to wholesale an Austin real estate investment, be sure that you already have buyers lined up for the property. You dont want it to stay with you beyond the term of the contract because you will either lose your money deposit to the seller or pay holding costs. As for rehabs, be sure to buy as low as possible to minimize your expenses. Also, go for bang for buck repairs like giving the kitchen a facelift or trimming the lawn.
For everything else about these real estate businesses you can use in Austin, go to REIWired.com. The website has informational content you will surely find useful in your investing career.
