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.
However, for some, the dream to flip houses full time has become a real life scenario. And to these few, they understand that there's more to flipping homes than just fixing up the property to resell. For those that are successful, there are three steps to making the business work for you.
1. Finding the leads.
Be sure not to confuse leads with deals. Constantly promote your business to get more leads into your funnel. This is where it all starts for real estate investors that want to flip their way to wealth.
You're going to remain on the lookout for potential properties and motivated sellers. Without actively promoting and marketing your business, then you're never going to get deals. So, take step one and start marketing your business in an attempt to find and attract motivated seller leads.
2. Converting the leads.
Once you market your business, you'll start getting leads of red hot motivated sellers begging you to buy their homes. So, next you'll want to pre-qualify your seller to make sure they're motivated. And then you've got to listen to your seller to make a win-win offer. The more information that you collect on the phone call or by your website, the more time you will save.
3. Time for the payoff.
This should be what you think of before ever presenting the offer. Although, this is the last piece of the puzzle, you should began the entire process with the end in mind - how you plan to get out of the deal and get paid?
You should consider the following when flipping your home:
a. You can sell it fast to another investor that will fix it up then resell to a homeowner.
b. Will you sell to a landlord investor that buys homes to hold as rentals?
c. Are their any investors that you have previous relationships with that would be interested in the deal?
Your success largely depends on how quick you move the property. Therefore, work to build solid relationships with real estate buyers in your area because these will be reoccurring buyers of your properties.
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. - 16069
However, for some, the dream to flip houses full time has become a real life scenario. And to these few, they understand that there's more to flipping homes than just fixing up the property to resell. For those that are successful, there are three steps to making the business work for you.
1. Finding the leads.
Be sure not to confuse leads with deals. Constantly promote your business to get more leads into your funnel. This is where it all starts for real estate investors that want to flip their way to wealth.
You're going to remain on the lookout for potential properties and motivated sellers. Without actively promoting and marketing your business, then you're never going to get deals. So, take step one and start marketing your business in an attempt to find and attract motivated seller leads.
2. Converting the leads.
Once you market your business, you'll start getting leads of red hot motivated sellers begging you to buy their homes. So, next you'll want to pre-qualify your seller to make sure they're motivated. And then you've got to listen to your seller to make a win-win offer. The more information that you collect on the phone call or by your website, the more time you will save.
3. Time for the payoff.
This should be what you think of before ever presenting the offer. Although, this is the last piece of the puzzle, you should began the entire process with the end in mind - how you plan to get out of the deal and get paid?
You should consider the following when flipping your home:
a. You can sell it fast to another investor that will fix it up then resell to a homeowner.
b. Will you sell to a landlord investor that buys homes to hold as rentals?
c. Are their any investors that you have previous relationships with that would be interested in the deal?
Your success largely depends on how quick you move the property. Therefore, work to build solid relationships with real estate buyers in your area because these will be reoccurring buyers of your properties.
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. - 16069
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Discover how to make money in real estate with the Real Estate Rebel's Real Estate Investing Tips. For more information visit http://www.reirebel.com
