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Real Estate Information |
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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: Costar sues Zillow over photos, claims ‘systematic infringement’ Real Estate News by RealEstateNews.com After 30 years, Linda A. Gary Real Estate moves office from prominent Worth Avenue corner Yahoo Home Blackstone Executive Wesley LePatner Died in NYC Shooting Business Insider Real estate: Home prices climb in Martin, Indian River counties; fall in St. Lucie County Treasure Coast News Real Estate Investment Trusts Score Legislative Wins Forvis Mazars US After 30 years, Linda A. 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Named Trusted Residential Real Estate Lawyer in Jacksonville for Homebuyers openPR.com Milwaukee's Harbor District would get a new boutique office building under this plan Milwaukee Journal Sentinel South Carolina RSIC CIO announces departure Institutional Real Estate, Inc. Slain Blackstone executive was a real estate powerhouse Crain's New York Business Real estate trends highlighted Morrow County Sentinel Asia Pacific commercial real estate investment surges to $31.2b in second quarter 2025 Institutional Real Estate, Inc. Real Estate Transactions BusinessWest Luxury Presence Debuts the First Fully Autonomous AI Marketing Team for Real Estate Agents Business Wire |
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