Real Estate Flipping is the fastest and most profitable way to make money in real estate.
All you hear in the news lately are about the homes that have declined 50% in value and how people are walking away from their mortgages.
This negative news actually will help you to make more money since the prices have fallen so much recently.
I want to show you how I have flipped property with little or no money and the different ways you can capitalize in this market.
Not since the Great Depression in the 1930’s has there been a better opportunity to pick up properties at pennies on the dollar and create fast wealth.
The following methods have made me a lot of money and they can help you create great wealth as well:
1. Tax Liens – Few people have ever heard of investing in tax liens but they are a very profitable way of investing in real estate.
The concept is rather simple, when a homeowner does not pay his property taxes on time a tax lien is placed on his house. The homeowner than has a set period of time to pay the lien off.
If the lien is still not paid off it is sold to an investor and this is where it gets sweet.
There are only two outcomes after buying the tax lien.
a. The homeowner pays the investor back all his investment plus interest or
b. The homeowner defaults on paying back the investor and the home becomes the investors.
So the worst case scenario is that you would get all your money back with a high interest or get a home worth $100,000+ all from a $2,000 or less tax lien.
It doesn’t get much better than that, probably the best deal in real estate. If you really want to learn how to make money in tax liens go to www.realestatecash2u.info for everything you need to know.
2. Foreclosures – With many homes worth less than their current mortagages even homeowners that can afford to stay in their homes are walking away from them. This is creating the biggest back log of foreclosures in the history of real estate. Did you know that in Detroit, Michigan many homes sell for less than $5,000. It is very common in most areas of the country to find homes for $10,000. Take advantage of this opportunity by going to Click Here!.
When you buying homes for pennies on the dollar through tax liens or foreclosures it is almost impossible to not make money.
After you have bought the property you will need to know how to rehab them cheaply. The following list will allow you to fix them up for under a few $1,000.
1. Bathroom/Kitchen – Since it has been proven that women make the decision to buy the home, focus the majority of your rehab money in the bathroom and kitchen. Countertops and a Nice looking island in the kitchen will sell a house faster than anything else. Buy the cheaper look a like granite countertops and put new vinyl flooring down. Lastly replace or refinish the shelfs and faucets. Total cost maybe $1,500 if you do it yourself.
2. Floors /Walls – Sand all wood floors and restain them. If there are no wood floors lay down the commercial carpet since it looks nicer and is much cheaper than conventional carpet. Paint the entire house white which makes it look larger and more open. Total Cost $500-$1,000.
3. Exterior – Make sure you landscape the entire front yard with mulch, trim the grass and hedges, etc. Driveway should be sealcoated to darken it and make it look new. Total Cost $100-$200.
After you have made your cheap but nice looking repairs put the house on the market. You have two options:
1. Sell Yourself – Also known as FSBO(For Sale By Owner). Every cent of the sale price goes directly into your pocket but you will have to pay for classified ads and do the open houses yourself. With the use of free internet listing services it is not difficult to sell a home even without experience.
2. List with a Realtor – The benefit of listing your homes with a real estate agent is speed. If you need the sale right away use a real estate agent since they have access to the MLS(Multiple Listing Service) and will list your house on it. The MLS is seen by all realtors and anyone with access to the internet. Using a realtor will normally cost around 6% of the sales price however some will even reduce the fee to as low as 4% if you ask.
There is no question that todays bad economy has created a lot of opportunity for investors that want to make money. Flipping homes will give you the money and time to acheive the life you have always dreamed of.
Don’t listen to the neighsayers, make it happen, you will never regret your decision to flip property.
For more complete information on flipping property go to www.realestateflipper.info