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Flipping or Fixing Houses for Profit
Many real estate investors make $5,000 to $10,000 or more by flipping houses. These investors buy a home from a distressed seller and resell it quickly for a profit. Just because a seller has serious problems like a pending foreclosure or divorce doesn't mean the house is a fixer. Many distressed sellers offer prime houses in perfect condition discounted for a quick sale. Distressed sellers jump at the chance to get out from under their overwhelming problems with an offer to close in ten days. To purchase a home quickly, you need to be prepared to offer cash or a have secure loan in place with a reliable mortgage lender. Other real estate investors prefer to buy fixers from distressed sellers. Distressed fixers tender the best bargains to make the highest return on your money. For instance, if you put 5% down on a $200,000 home, spend $5,000 fixing the house up, and another $3,000 in payments, your cash investment totals $18,000. If you sell the home for a $70,000 profit like many rehabbers, you can see that your return on your investment of $18,000 for two months exceeds most other types of investments. This investment plan assumes that you have the knowledge and skills, time to work on your fixer, and that you sell the house as soon as its finished to a qualified buyer. Home improvement centers help you with how-to classes, brochures, and advice. You need to give up your free time--TV, parties, leisure activities and work on your fixer. You could hire workers, but contractors and laborers work slowly and eat up your profits. The last part of the equation, selling your house quickly to a qualified buyer means you need to do your homework. Many investors seek free help from a loan officer to price the house right and to qualify their buyers. These investors earn the sales commission by selling their houses by owner. The most important issue, how you fix up your house, ensures that you quickly attract a buyer willing to pay top dollar for your transformed property. Investors using Design Psychology strategies for fixing houses sell their homes, for more than the asking price, three hours after putting the yard sign out. Whether you want to make money investing in real estate by flipping or fixing houses, you need to understand your market. To get started in your real estate business, go house shopping. You'll soon learn how to pick up a flip or a fixer and be on your way to making a high return on your money. Copyright (C) 2005 Jeanette J. Fisher. All rights reserved. Jeanette Fisher, author of Sell Your Home for Top Dollar--FAST! Design Psychology for Redesign and Home Staging, teaches Design Psychology. She also wrote Doghouse to Dollhouse for Dollars and other books. http://www.doghousetodollhousefordollars.com For a free report, "Design Psychology for Selling Houses," go to http://sellfast.info
MORE RESOURCES: Refined Real Estate: Unique Leschi home with lake views lists for $1,395,000 seattlerefined.com Erie County real estate transactions Buffalo News Real estate mogul cautions about avoidable mistake when buying a home, explains how to avoid 'drowning' Fox Business Worcester County real estate transfers, Sunday, May 19 Worcester Telegram Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties May 19, 2024 edition MassLive.com Portside Real Estate acquires Belgrade Lakes brokerage Kennebec Journal and Morning Sentinel Berks County real estate transactions for May 19 Reading Eagle The same, yet different – seniors and real estate in the Tri-Valley danvillesanramon.com Slow April real estate market among Pueblo's top business news Pueblo Chieftain REAL ESTATE | A look inside The Lofts at Cedar Lake on the campus of Cedar Community washingtoncountyinsider.com Illinois real estate: Home sales in Peoria, Tazewell, Woodford counties Peoria Journal Star Agent Spotlight: Andrea Haitz Grand Junction Daily Sentinel Hawaii Real Estate Sales: March 11-15, 2024 Honolulu Star-Advertiser Luxury Homes Are Booming in These 10 Unexpected Cities in 2024 Norada Real Estate Investments REAL ESTATE | Check out Braund's Flooring & Remodeling LLC in West Bend, WI washingtoncountyinsider.com Revised Mortgage Rate Predictions Signal HIGHER Rates in 2024 Norada Real Estate Investments Letter to editor: On recent misinformation regarding upcoming changes to the real estate industry Woodland Daily Democrat Wellesley resident Peter Covo joins Conn Kavanaugh as partner in firm's real estate practice The Swellesley Report Top 10 Brooklyn Listings: A Flatlands Standalone Brownstoner STAR resource center Department of Taxation and Finance Increases in interest rates stress commercial real estate Richmond Times-Dispatch Egypt boasts real estate portfolio valued at $200bn, ready for international export - Dailynewsegypt Daily News Egypt Private Advisor Group LLC Purchases 1425 Shares of Doubleline Commercial Real Estate ETF (NYSEARCA:DCMB) Defense World Celebrity Real Estate Realtor.com News Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Coloradans negotiating lower fees for real estate agents with new law on horizon Colorado Public Radio Amalgamated Bank Trims Stock Position in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Defense World Robert Willett may be targeting female Realtors in Northeast Ohio Akron Beacon Journal Real estate transfers: May 17, 2024 RiverheadLOCAL China Says It Will Start Buying Apartments as Housing Slump Worsens The New York Times Real Estate Briefs: Lakeside homes, new condos, and more news Rough Draft Atlanta Kenosha CubeSmart storage facility sold to new owner Kenosha News Real Estate Mogul Grant Cardone Closes Largest All-Cash Multifamily Deal In South Florida This Year Yahoo Finance Mid-May Greenwich Real Estate Market Report Greenwich Sentinel London Real Estate Is About to Get the ‘Selling Sunset’ Treatment Hollywood Reporter Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Stock Position Reduced by Victory Capital Management Inc. Defense World $6 million home was Houston's top residential real estate sale of its week (PHOTOS) The Business Journals Real Estate Newsletter Articles this Week: Housing Starts Increased to 1.360 million Annual Rate in April Calculated Risk What's real estate wellness? Fortune Billionaire Frank McCourt raises his hand to buy TikTok Business Insider Dodge County Real Estate Transfers Fremont Tribune News anchor sells luxury Scottsdale home he built for $6M The Business Journals China's real estate market sees surge in weekend consultations and trading, boosted by accommodative policy Global Times Ellison sues real estate broker Chad Banken over alleged schemes involving contracts for deed Star Tribune Home listings are on the rise in southern Colorado, while other indicators show a slowing real estate market Colorado Public Radio Busch relative settles squabble with Clayton investors over real estate trust St. Louis Post-Dispatch Southern fast-food chain Cook Out buys Tampa real estate The Business Journals See all homes sold in Garfield Heights, May 6 to May 12 cleveland.com MCB Real Estate Revives Long-Awaited Viva White Oak Mixed-Use Project Source of the Spring |
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