Can you still make money flipping homes in the current market conditions? To some, it seems nothing more than an illusion. But for others, flipping is big business and the economy is actually helping get more deals.
Instead of focusing on the area, successful flippers focus on building systems. And to flip homes successfully as full time business revolves around three steps.
1. Finding Motivated Sellers.
Be sure constantly market your business to get more deals in your funnel. This is where most investors drop the ball when it comes to starting a successfull flipping business.
This involves marketing and constantly being on the lookout for potential properties. And without actively promoting and marketing your business, then you're going to never get involved. You're going to be left sitting on the sidelines while the people around you are profiting from red hot, smoking deals every month.
2. Deal Converting.
After you've mastered the art of generating leads, it's time to convert the leads into actual deals. First you pre-qualify your seller to make sure they're motivated, and then you've got to listen to your seller's needs to make an appropriate offer that makes financial sense to you, but also that's a win for the homeowner. Be sure to collect as much information as possible by phone. This will save you hours upon hours of dealing with people that aren't motivated sellers.
3. Master the exit strategy.
Finally, you're ready to flip the deal for a handsome profit. Even though this is the final step in the process, you should began the entire process with the end in mind - how you plan to get out of the deal and get paid?
Here are some options to consider as your exit strategy:
a. Do you plan to sell it fast to another investor that will fix then flip the property to a homeowner?
b. Are you going to sell to a landlord investor?
c. Do you have any established relationship with any other investors that would be interested in the deal?
Success depends on how quickly you can sell the property. Work to build solid relationships with real estate investor buyers in your local market because these investors are always on the lookout for more deals.
Now, remember, you've got to negotiate a good enough deal so that you can leave some money on the table for your buyer. Investors have different criteria, so it's best to find out what they're looking for in advance when attempting to flip a property. Master these three areas to every property you want to flip and watch your income soar. - 15485
Instead of focusing on the area, successful flippers focus on building systems. And to flip homes successfully as full time business revolves around three steps.
1. Finding Motivated Sellers.
Be sure constantly market your business to get more deals in your funnel. This is where most investors drop the ball when it comes to starting a successfull flipping business.
This involves marketing and constantly being on the lookout for potential properties. And without actively promoting and marketing your business, then you're going to never get involved. You're going to be left sitting on the sidelines while the people around you are profiting from red hot, smoking deals every month.
2. Deal Converting.
After you've mastered the art of generating leads, it's time to convert the leads into actual deals. First you pre-qualify your seller to make sure they're motivated, and then you've got to listen to your seller's needs to make an appropriate offer that makes financial sense to you, but also that's a win for the homeowner. Be sure to collect as much information as possible by phone. This will save you hours upon hours of dealing with people that aren't motivated sellers.
3. Master the exit strategy.
Finally, you're ready to flip the deal for a handsome profit. Even though this is the final step in the process, you should began the entire process with the end in mind - how you plan to get out of the deal and get paid?
Here are some options to consider as your exit strategy:
a. Do you plan to sell it fast to another investor that will fix then flip the property to a homeowner?
b. Are you going to sell to a landlord investor?
c. Do you have any established relationship with any other investors that would be interested in the deal?
Success depends on how quickly you can sell the property. Work to build solid relationships with real estate investor buyers in your local market because these investors are always on the lookout for more deals.
Now, remember, you've got to negotiate a good enough deal so that you can leave some money on the table for your buyer. Investors have different criteria, so it's best to find out what they're looking for in advance when attempting to flip a property. Master these three areas to every property you want to flip and watch your income soar. - 15485
About the Author:
Discover how to make money in real estate with the Real Estate Rebel's Creative Real Estate. For more information visit http://www.reirebel.com
