Real Estate Ain't Dead It's a Live and Kicking! Make a Small Fortune Flipping Houses 2014 by Terry Clark - HTML preview

The government agencies are only responsible for the eligibility of the tenants for hte program. They also require the tenants and the landlord to complete forms and/or contracts regarding the project. Any other process is in the discretion of the landlord who is given much more benefit and less of a hassle in receiving payments.

 

 

#33. Flipping Luxurious Homes

 

Flipping a home is not a new practice nor is it limited to only homes in desperate need of renovation.� Though television has helped cast and establish this stereotype upon those in the industry, there are a large number of investors who buy up a variety of different types of homes and turn them around for a quick profit.� In fact homes that require less renovation or repair often turn a much larger profit than do homes that require extensive care. In fact there are even groups of people who target only those homes that require little to no renovation as to maximize turn around time as well as profit.

 

Prime examples of this are the people who aim their sites only on the most opulent of neighborhoods. Areas that offer such a high standard of living attract home buyers looking for the best of the best and those who are willing to pay for it.� For this reason alone it is easy to understand why some people look only to luxury homes for profits.� Boca Raton real estate is a good example of a community that caters to those with a high income and is an area that flippers after high priced homes often flock to first.� As the homes in this area are already lavish they carry with them an almost automatic profit that a flipper may increase by adding amenities to an already plush home.

 

Flipping houses with such splendor is not limited to communities within Florida however, as many high profile states such as New York, New Jersey, and even California play host to some of the most sumptuous neighborhoods in the United States.� Homes in various neighborhoods throughout these states have been built with the elite in mind so naturally those who look to flip houses for the wealthy gravitate to these area as they do in place such as Boca Raton.� In some cases the homes in these states are turned for higher profits than they are in any other area.� If the home being flipped is located in a high profile business community the profit can be even larger and the individual responsible for the flip may have little to do as far as additions or modifications go.� In areas such as this the home and city will sell itself, making for a nearly effortless flip in some scenarios.

 

It used to be that an investor would buy a home and hold onto the dwelling for several years before reselling it only after appreciation had worked it�s magic on the residence.� Currently there has been a shift in what a real estate investor do and how they work.� Those who flip homes do so to turn a quick profit and rarely take up residence in any of the homes they purchase.� Thanks in part to a numerous television programs flipping has become an extremely popular type of investing though those that are in the business recommend the layperson to educate themselves before beginning such a business as it does require a vast knowledge of real estate and the laws surrounding that industry.� When handled with experience and care flipping is a very profitable businessArticle Search, however handled haphazardly it can cost a person more money than it will ever generate.

 

 

#34. House Flipping With Your Plumber Skills

 

If you're considering investing in a house in today's market to make a profit, you will need some skills as a plumber to help you see a profit.

 

As the home market prices begin to slowly inch their way back up to pre-recession day prices, more investors are once again taking the plunge into home ownership. But they aren�t buying those first homes to live in, as much as they are buying them for investment flips. In the hey day when a house could be bought, reinvaded and flipped within weeks if not months, home flippers were making money hand over fists on their investments. Today, that flip may not happen as quickly but there is still a great deal of potential to be explored in this market.

 

If you�re considering becoming a home flipper you will need to have some realistic skills in home repair to make any kind of profit margin. The best two specialty skills you can possess in this regard are electrical and plumbing.

 

If you are able to be your own plumber on your investment house you can take care of the small things like leaky faucets and annoying drips and you can take care of more major projects like changing out shower stalls, sinks, and toilets. These are usually necessary components to any successful flip since kitchens and baths take the hardest hits by former tenants.

 

Your skills as a plumber can also help you if you need to do some massive repairs from damage caused by the home sitting neglected over time. In the haste to foreclose on many homeowners, the banks often failed to maintain their newly acquired properties and as a result, more than few suffered ruptured pipes from cold snaps.

 

It will take the skills of a plumber in most cases to repair damaged piping and ensure the remainder of the home is stable plumbing wise at least.

 

You may have to be prepared to sit on your home flip once your reinvention is complete but you may be able to at least start making your mortgage by becoming a landlord and renting the home out. This is another area where your skills as a plumber will pay for themselves since the most common call landlords report getting is usually about plumbing. You can�t even consider yourself a proper landlord until you have at least one flooded bathroom and a kitchen sink that leaks nonstop on a holiday weekend.

 

If you feel you have the plumbing skills, the investment money and you are prepared to wait out the market, this could be considered a good time to buy a home to flip while home prices are still low to the ground and interest rates are below five percent.

 

Talk to a real estate agent and you will probably find you have your choice of flip able homes, all ready and waiting for some TLC in the form of new plumbing fixtures and minor plumbing repairs.

 

The market is inching its way back up so consider your investment a way to help push things back up over the hump, while helping your own financial future at the same time.

 

 

#35. Which Types Of Real Estate To Invest In

 

You want to invest in which types of real estate? Land, apartment buildings, rentals houses - They each have their advantages.

 

There are different types of real estate, and different ways to invest in them. Which way is best is for you to decide, according to your particular needs. Here are a few ways to consider, with their advantages and disadvantages.

 

�1. Rental houses. Advantages: One of the easier ways to get started, and good long term return on investment. Disadvantages: Being a landlord isn't much fun, and you typically wait a long time for the big pay-off.

 

�2. Rent-to-own houses. Advantages: When you buy, then sell on a rent-to-own arrangement, you get higher rent, and the buyer is usually responsible for maintenance. Disadvantages: The bookkeeping is tricky, and most tenants don't complete the purchase (this can be an advantage too, but it does mean more work for you).

 

�3. Low income rentals. Advantages: The same as with any rentals, but with higher cash flow. Disadvantages: The same as with other rentals, but with more repairs and tenant problems.

 

�4. Fixer-uppers. Advantages: A quick return on your investment, and it can be more creative work. Disadvantages: Higher risk (many unpredictables) and you get taxed heavily on the gain.

 

�5. Buy for cash, sell for terms. Advantages: You get a high rate of return by paying cash to get a good price, and selling on easy terms to get a high price AND high interest. Disadvantages: You tie up your capital for a long time.

 

�6. Buy land, split it and sell it. Advantages: It is simpler than most real estate investments, with the possibility of great profits. Disadvantages: It can take a long time, and you have expenses, but no cash flow while you wait.

 

�7. Boarding houses. Advantages: You can get a lot more cash flow renting a house by the room, especially in a college town. Disadvantages: You can get a lot more headaches renting a house by the room, especially in a college town.

 

�8. Commercial real estate. Advantages: Long term triple-net leases mean little management and high returns. Disadvantages: Tough market to break into, and you can lose income on vacant storefronts for a year at a time.

 

�9. Buy, live in it, and sell. Advantages: The new tax law means you can fix it up, and sell for a big tax-free profit after two years, then start the process again. Disadvantages: You have to move a lot.

 

�10. Speculation. Advantages: Buying in the path of growth and holding until values rise can yield large profits, especially if you buy low to start. Disadvantages: Prices aren't that predictable, you have expenses with no income while you're waiting, and transaction costs can eat much of the profits.

 

 

#36. Why Young Real Estate Investors Love To Flip Houses

 

In recent years, the number of successful real estate investors belonging to Generations X and Y is climbing steadily. News about a twenty-something-year-old investor making five to six figures a month is so commonplace that most people are no longer amazed by it. This only proves that a person's age is not a hindrance in making huge money in real estate.

 

One of the best ways to make quick cash in the real estate market is to flip houses. Like flipping a deck of cards, the business of flipping houses appeals to the younger generation of real estate investors because it is easy. Unlike in other industries, you don't need an MBA or even a college degree to earn the salary of the CEO of a huge business corporation.

 

Think about it. If you drop out of school because you're not good with your academic studies, a bright future is still waiting for you in the real estate investing industry. As long as you work hard and have the drive to keep on going despite various adversaries, you can still earn the amount of money that a Harvard graduate is making.

 

Sound impossible? You better believe it because lots of successful real estate investors in the country today are college or high school dropouts who were able to turn their life around by buying and selling investment properties. In fact, some of them are driving shiny sports cars and living in expensive apartments all because they flip houses for a living.

 

Another reason why young real estate investors love to flip houses is because it is fun and enjoyable. The business of fixing and flipping real estate is a great stress reliever because you can get to earn money without confining yourself to a cramped office space. And if you happen to enjoy interior decorating, carpentry, or simply fixing broken things up, you can unleash your inner handyman and �play� with power tools. This is something that you can't do with your boring office job.

 

For those who don't belong in Generation X or Y, meanwhile, don't be disheartened. You can still make tons of cash by flipping real estate despite your advanced age. In fact, many investors who flip houses in recent years are pops and moms preparing for their retirement. So don't be discouraged by the gray hairs in your hair because real estate investing is for people of all ages.

 

 

#37. Myths and Facts of Flipping Houses

 

To make money, you must have the right money mind-set. Here are the common myths about flipping houses - and the facts.

 

Myth: I can't buy houses with bad credit.

Fact: Lenders lend to people who flip houses. They look at the deal, not the borrow.

 

Myth: There are no good deals in my area.

Fact: There has never been a better time to find great deals than now. There are always great deals if you know where to look.

 

Myth: I have no business experience.

Fact: Most people who run successful businesses started with no business experience. You can overcome the lack of experience with education.

 

Myth: I have failed so often, I feel destined to fail.

Fact: Because you failed so many times, you're one step closer to success.

 

Myth: I have no construction experience.

Fact: Construction is not rocket science. What you need is a good subcontractor agreement, budget sheets and a way to control your projects. Once you educate yourself on how to budget for a property and have subcontractor agreements in place, you know 80 percent of how to run a construction part of a flip.

 

Myth: I have no time.

Fact: With a proven system, you do not have to spend all your time flipping houses. The system works for you so that you don't have to spend all your time doing it.

 

If one person can do it, anyone can!!

 

The more you focus on the facts, the more power you will have flipping houses. The more you have the right money mind-set, the more you will attract money in your life.

 

 

#38. How to Deal with Foreign Buyers

 

According to real estate insiders, one of the fastest emerging trends in the business today is flipping houses to international buyers. In fact, the government is even reportedly encouraging foreigners to buy homes in the country to help spur the local housing market. So if you want to give your real estate investing business a boost, you've got to try selling houses to foreign buyers.

 

Investing in real estate with international buyers, however, can be quite a handful for some investors, especially the beginners. Because not all real estate entrepreneurs are comfortable with talking to local buyers, many of them will feel that dealing with international buyers can be extra challenging.

 

However, experts believe that dealing with local buyers is not too different from doing business with international buyers. To give you an idea, here are some pointers that you should consider when pursuing a real estate deal with a foreign buyer.

 

1. Don't let the language barrier stop you from making money in real estate with a foreign buyer. In most cases, foreign buyers have already set up a local team that would help them make real estate investments. This team will serve as a bridge between you and the buyer. That being said, you shouldn't be afraid to do business with a person just because you can't understand what he's saying.

 

2. Show international buyers the same level of courtesy as you would to local buyers. Return phone calls and emails on time. Just like their local counterparts, international buyers would love to work with real estate investors who show a healthy dose of professionalism.

 

3. Always remember that trust is important in the business of flipping houses, or any other real estate investing niche for that matter. For this reason, you should always be honest with your clients because people, regardless of their country origin, don't like to work with dishonest real estate investors.

 

4. Always perform due diligence. This will help you show your buyers how serious you are when it comes to doing your work as a real estate investor. Not only you will impress your clients, you can also ensure that everything will go according to plan.

 

With many foreign buyers showing interest in U.S. properties, flipping houses to this people can indeed give you the opportunity to generate bigger profits.

 

 

#39. Stolen Copper

 

When you are in the property flipping business, your list of things to watch for just keeps growing. If you miss a key item that needs repaired, it con cut in to your profit margin, or even cause you to loose money.