Читать книгу Flipping Houses For Dummies онлайн

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You can even mix-and-match strategies to develop a custom strategy. You may, for example, choose to buy a quick flip in a hot market or buy only duplexes, move into one half, and rent out the other half while renovating the half you’re living in. The variations are limited only by your imagination.

Every day that you own a property, holding costs chip away at your profit, unless of course the property is a rental. Holding costs are the daily expenses — interest payments, property taxes, utility bills, homeowner association fees, and maintenance costs. The trick to reducing these costs is to flip the property as quickly as possible, and that means planning well in advance. Make sure that your plan covers all five stages of the flipping process:

1 Secure cash or financing.With financing (or, preferably, cash in hand), you can move on the deal much more quickly than other buyers and negotiate from a position of power if other prospective buyers have no cash. See ssss1 for more about financing your flips, and see ssss1 to determine how much you can pay for a property to earn a decent profit from it.