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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: Real estate transactions top $4M for Jan. 9-15 Steamboat Pilot & Today Aspen Real Estate Snapshot Jan. 20, 2025 Aspen Daily News Real Estate Transactions, Jan. 20 edition Hopkinton Independent These 8 charts show what bubble-spotter Ivy Zelman thinks will happen in the US real-estate market after the least affordable year since 1984 Business Insider Barron Trump business partner clarifies future of luxury real estate venture: 'Will not be relaunched' Fox Business The U.S. Government Has a Landlord, and Trump Isn’t a Fan The Wall Street Journal 1-21-25 *INTERVIEW* The Denver Area Real Estate Market Expectations for 2025 with Ed Prather iHeartRadio Australia’s Clayton Utz Takes Real Estate Partner from Ashurst Law.com International New report predicts rough 2025 for Las Vegas Valley residential real estate Las Vegas Review-Journal RioCan Real Estate Investment Trust Announces Offering of $550 Million of Senior Unsecured Debentures Business Wire Barron Trump following in dad Donald's footsteps as he prepares to launch luxury real estate venture Hindustan Times In addition to its new Delano office, this firm is now opening on the west side, too - Wichita Eagle Decoded: The ‘behind-the-scenes demands’ over Clear Cooperation Real Estate News Real Estate Property Sales filed filed Jan. 8-12, 2025 Fauquier Times Real Estate Transactions | 1-15-25 The Republic-Times The Next Big Thing: Market Trends 2025 to explore the future of Southwest Florida’s real estate market on March 20 Priority Marketing Barron Trump reportedly following in father's footsteps, launching his own luxury real estate venture Fox Business Anywhere Real Estate’s Charlotte Simonelli on navigating 2025 with financial discipline and the help of AI HousingWire Accurately analyzing the local real estate market Bitterroot Star Kirkley offers 2024 DeSoto County real estate market trends and 2025 outlook DeSoto County News Canadian Real Estate Firm Opens Devenir Construction to Local Self-Storage Developers, Owners Inside Self-Storage Enterprise Community Development Names Zachary Marks as EVP, Head of Real Estate Development citybiz APCO's Camarco Handles Bain's Real Estate Deal O'Dwyer's PR News Hamptons Real Estate Market Data – Week of 1/14/2025 Hamptons.com How Northeastern students are redefining real estate with purpose and perspective The Huntington News Brown & Riding names Lally real estate practice leader Re-Insurance.com FINE PRINT Real Estate Brown County Democrat Revolve Real Estate, for all your real estate needs PAHomePage.com Trump Orders ‘Emergency Price Relief’ on Housing—What Does It Mean? Realtor.com News Chicago real estate brokers accused of discriminating against housing voucher holders Crain's Chicago Business Central Texas real estate agent shares insight on the 4,000+ homes sold in Bell County in 2024 25 News KXXV and KRHD Real Estate Transfers Fairburyjournalnews Radio Real Estate 1/18/25 My Bellingham Now Americans Can Easily Buy Real Estate in These 8 Countries House Beautiful Energy Value: A New Imperative in Assessing C&I Real Estate Microgrid Knowledge A horse-lover's haven in Middleburgh - Real Estate Roundup The Daily Gazette Barron Trump launches real estate company as father Donald reclaims US presidency The Times of India Texas Permanent School Fund adds to $250m real estate IPE Real Assets Real estate transactions recorded from January 0-13 Americus Times-Recorder Redfin Welcomes December Agent Hires Redfin News Drake Lists Beverly Hills Estate for $250K a Month While Expanding Luxury Real Estate Empire The Source Magazine LA fires spark a call for real estate ‘unity’ Real Estate News January 14-16 Gulfport Real Estate Sales The Gabber Newspaper West coast real estate firm acquires first Valley property in Tempe Daily Independent These Trump executive orders could impact real estate The Real Deal Hernandez Development, XSITE Real Estate close on site for future Deer Park self-storage facility REjournals.com Undercover sting exposes rampant housing discrimination across Chicago area, watchdog group says WBEZ Chicago Lange Real Estate expands residential development with new teams, office The Business Journals Pinellas Beaches Real Estate January 14-17 The Gabber Newspaper Barron Trump's luxury real estate business 'teased with five word statement' from friend The Mirror US Inside the Gaza Deal: How a New York Real Estate Developer Took on Netanyahu and Hamas The Wall Street Journal 'It's going to hurt': Real estate expert discusses how Trump's deportation plans could affect housing Yahoo Finance 10 Years In Prison For Former Real-Estate Attorney Jersey Shore Online Bill Ackman Offers $1B For Real Estate Giant Howard Hughes To Emulate Berkshire Hathaway Yahoo Finance Resilient California Housing Market Defies Challenges in 2024 Norada Real Estate Investments Barron Tower? 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