Читать книгу Flipping Houses For Dummies онлайн

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2 Search and research.The fun, exciting step in the process of flipping houses is searching for and finding diamonds in the rough. To limit your exposure to risk, however, you need to follow up your search with research, particularly if you’re buying a home in foreclosure. See the chapters in ssss1 for more about finding properties to flip, and see ssss1 for guidance on how to research distressed properties.

3 Purchase.Buying the property is probably the easiest step in the process, but you want to be sure to negotiate (or bid) a price that’s at least 20 percent less than the cost of buying, renovating, holding, and selling the property. You also need to negotiate other terms, including the closing date and the date on which the previous owners move out.

4 Rehab.Jot down a list of improvements you want to make to the property when you first see the house, and schedule the work before you close on the purchase. Ideally, you should start renovating the property the same day or the day after closing. ssss1 walks you through the process of inspecting a property for the first time; ssss1 is devoted to fixing up your fixer-upper.