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 Sell the property.

 Sell to an investor who’s better equipped and more motivated to flip the property (you’re essentially earning a finder’s fee, also known as the bird-dog fee).

 Refinance to cash out the equity in the property — usually, to help finance repairs and renovations or to use the money for other investment properties.

 Sell the property on a lease option (rent-to-own), essentially collecting rent with the hope that your tenants will eventually purchase the property.

 Lease the property — become a landlord.

 Sell the property on a contract, acting as a bank and collecting the interest.

See ssss1 for details on the various approaches to profit from a flip. In ssss1 and ssss1, I explain how to market and sell your home for top dollar. And in ssss1, I explain certain tax considerations that may help you keep more of your profit by paying less of it to your rich Uncle Sam.

Chapter 2

Devising an Effective Flipping Strategy

IN THIS CHAPTER

Exploring a variety of flipping strategies

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