subject: The Secret To Immensely Profitable Flipping Houses [print this page] Everybody knows that flipping houses is a real estate business that can give people a staple income. Its considered easy money that can be made in a short period of time. However, there are investors who are actually making much more money with every house they flip. Learn what youre doing wrong by reading on.
Flipping houses, which is known as wholesaling houses, in many areas across the nation is pretty simple in principle. You look for a cheap property, place it under contract, and then assign that contract to an end-buyer who will make the purchase. Real estate investors who flip houses make around $5,000 per house.
Others, however, double that or even triple. Thats because they know a secret so obvious that when you hear it, youll ask yourself Why didnt I think about that?
So what exactly is the secret to an immensely profitable flipping houses business? Two words: motivated sellers. If you have to choose between two similar properties, choose the one thats owned by the more motivated seller. Motivation plays a huge part on how low you can offer for the property. And in the business of wholesaling houses, the lower the offer, the better for the investor. When you deal with motivated sellers, youll be able to make the lowest offers and the highest returns.
Simply defined, motivated sellers are homeowners who are under some unbelievable deadline to sell their property. They need to move out really quick. They badly need to sell the property. Because of this motivation, then people view time as more important than money. So, if the seller is motivated, he would rather close low today than close high six months from now. Finding motivated sellers and not houses is the key to a successful and profitable flipping houses business.
When youre dealing with a motivated seller, you are in a stronger position to bargain for a lower price. That doesnt mean that you must push the seller to a very unfavorable deal. Remember that when you place their property under contract, you are helping them solve their problems; you are helping them find a buyer who can purchase the property in the soonest possible time. You just have to make them understand that you cant purchase their house at a retail price although you can close fast. You are, in that way, a better option.
Discover more secrets about wholesaling houses at RehabList.com now.
