Property flipping is the act of acquiring a distress property, often improving it (although this is not always the case) and then reselling the improved property to a buyer for a handsome profit over and above what you took in, your acquisition, upgrading and keeping costs (or at least goes the claim.) This is probably the easiest transaction you can do if you want to make money quick. You can find distressed properties, either by doing an internet search on your area or contacting a local property buying company. A local movers will be able to tell you where to look for distressed properties, or if you’re looking for a specific type of property, they can search with you to provide you with information on a wide range of property types.
Real Estate Investing – How to Get Started in the Property Flipping Process
Once you’ve acquired a property through property flipping, you’re going to have to resell it quickly in order to meet your desired profit. There are two methods of doing this. One way is to fix up the house yourself and re-list it yourself on the MLS or similar type website, and the other way is to “gentrify” the neighborhood. Simply put, gentrifying a neighborhood means making it more appealing to buyers in the long run – and flipping can help you do just that.
If you’re thinking about getting into real estate investing, don’t overlook property flipping as an option. Even if you have no intention of actually owning a home, there’s nothing wrong with seeing what you can do with a few investment properties. They’re also low risk investments, so even if you don’t get a chance to make a full profit on each one, it won’t break the bank. If you want to try your hand at property flipping, contact a local real estate investing company and see what kind of assistance they can offer. It’s worth it to talk to people who have some real experience with property flipping before taking the plunge yourself.Continue Reading