The pure concept of property flipping may seem simple. You have to buy a property, do some work on it and sell it again.
But it is far from the actual situation, with a lot of factors to be worried about. First find the right price to buy it for, as well as contractor, and then decide what will you need to fix, maintain that, estimate the price after fixing and actually sell that house. So it is far from an easy job, but can it actually be profitable in the long term?
Most of you, seeking to do a property flipping job, see ads on TV, where people are making more than $100k, for one flip. The reality, though, is a little bit different, with houses now being much more expensive, and you still have to put in a lot of money on reparation as well. Continue reading “Property Flipping – Is it Worth It?”
So you find a property that you are interested in buying, reconstructing and later renting or reselling. You go to the homeowner, with much confidence that you will figure out a deal, already thinking about what you to do to the property to make it more appealing, and bum, you walked into a dead-end street.
The seller is stubborn, not actually being interested in negotiating the price or some other factors that might be involved, and there appears a huge problem. For some this might be a situation, when they just step back and withdraw from that one, but for others, it is just beginning of the game – and that is the right way of thinking in real estate industry.
We can start off with a guess and say, that you probably set down, quite a few times, to research the marketing options for real estate, and you saw that there are many options, with the choice being really hard to make.
And yes it is, some claim that the best way is to do it via blogs, other think that it is better to use social media and promote that way. There are also those who would suggest you to send out some symbolic things with your logo, to your possible customers, for example, pencils, magnets or even calendars – Magnets East, does a great job in creating those.
Recently, there has been an increase of foreclosed properties in the housing market, making it tempting for real estate agents to be a star of the show, as they could buy it for much less than it is actually worth it. Some even buy properties in bulk and for a certain amount of money.
The number of people that are in the real estate development job has increased over the past few years, in the USA. People are looking for more ways to earn money, still not having to work from 9 to 5 for a regular wage.
Moreover, yes real estate investing for sure does give that, but as it can be a highly lucrative business but can also be a destructive one.
When you are starting off, there are few things that you might want to focus on:
Get pre-licensing courses and pass the license exam for your state
Create a startup budget – usually between 1500 and 2000 dollars
You should partner with already registered broker, and build a wide list of contacts; promote yourself by creating websites and posting on social media
You should also be constantly on the track, attending seminars, being in contact with past clients, and even holding your presentations