Check Out These House Flipping Tips Courtesy of MyHouseDeals.com
Making a living at flipping houses is not as easy today as it used to be. For many years just about anyone who wanted to could jump in and make easy money in real estate investing. But the real estate market crash dashed many of those dreams and chased the new investors out of the market.
In order to be successful in today’s market, there are some house flipping tips you should know. Even though the market isn’t great right now, if you follow these house flipping tips closely you’ll still have a very good chance of turning a profit.
The first of these house flipping tips is to find properties priced well below market value that also have a lot of equity in them. The best types of properties to consider achieving this goal are pre foreclosures and wholesale properties.
Pre foreclosures are homes that are close to foreclosure. Unless the owner is able to quickly get caught up on their payments or find someone willing to buy the property from them, they will end up with a foreclosure on their credit report. Most owners wish to avoid this at all costs. You can help them by negotiating the purchase of their home, usually for close to the outstanding mortgage balance. Your profit will be any equity that might be in the home, so you want to look for homes that have quite a bit of equity.
The next of our house flipping tips is to build a network of other investors willing to buy the houses you are flipping. This will save you the time and expense of having to place ads in the local paper and basically keep you from having to start from scratch each time you need to sell a property.
The last of our house flipping tips is to sign-up for a free membership to MyHouseDeals.com. We have the largest collection of pre foreclosures and wholesale properties around. Our membership is made up of other investors who you can easily network with so that you have a good base of people to turn to when you have a property you need to flip. Last but not least MyHouseDeals.com gives members access to our list of pre screened hard money lenders willing to work with investors like you to help you get deals done quickly and with very little hassle.
Click below to start your free membership and start putting out house flipping tips to good use. See you on the inside!