Is flipping houses a legitimate business in the current economy? For the street smart real estate investors, flipping houses has become even more lucrative, even in the current market conditions.
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 the leads.
Don't confuse your leads with actual deals. You should continously market your real estate business to get more leads into your funnel. This is the starting foundation.
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. Converting the leads.
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 sell the deal to turn a profit. Although this is the final step, you should have a plan before ever making the offer to your seller.
You should consider the following when flipping your home:
a. Do you plan to sell it fast to another investor that will fix then flip the property to a homeowner?
b. Will you sell to a landlord investor that buys homes to hold as rentals?
c. Do you have any established relationship with any other investors 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.
Investor buyers don't care if you make a profit as long as the deal is a win for them. Remember, you've got to negotiate a good enough deal so that you can leave some money on the table for your buyer. These three areas are the keys to your real estate income soaring. - 16003
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 the leads.
Don't confuse your leads with actual deals. You should continously market your real estate business to get more leads into your funnel. This is the starting foundation.
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. Converting the leads.
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 sell the deal to turn a profit. Although this is the final step, you should have a plan before ever making the offer to your seller.
You should consider the following when flipping your home:
a. Do you plan to sell it fast to another investor that will fix then flip the property to a homeowner?
b. Will you sell to a landlord investor that buys homes to hold as rentals?
c. Do you have any established relationship with any other investors 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.
Investor buyers don't care if you make a profit as long as the deal is a win for them. Remember, you've got to negotiate a good enough deal so that you can leave some money on the table for your buyer. These three areas are the keys to your real estate income soaring. - 16003
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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
