HOW TO FLIP REAL ESTATE LIKE A PRO
It is true that home flipping is a profitable business model but let me make one thing clear; as a beginner, you might not make hundreds of thousands of dollars in a single sale. Nonetheless, with an average 35% return on investment, which equates to roughly $72,450 on the table, you can bet that even if you flip one property per year, you will still have enough money to take care of your bills at the end of the year. But keep in mind that flipping is not as easy as they make it look on TV where all you do is lowball on property that was previously unsalable, get lightning speed repair guys at work and you have potential buyers lining with loads of cash on your doorstep wanting the property. While it sounds easy in theory, it takes hard work to make that work. Here are some points that you must keep in mind:
Before we begin, we first have to make sure your financial house is in order:
Real Estate Marketing:
Marketing is at the core of real estate; it is the fuel that drives real estate. Think about it; whether you are an agent, developer, a wholesaler, a flipper or a homeowner wishing to sell, rent out or lease out your property, you MUST unleash the full power of marketing to generate leads and ultimately attract customers who are willing and able to pay the selling price or the rent amount. However, the purpose of this book is not just about selling property one off; it is about making a business out of it so that you can sell to all types of customers repeatedly.
The thing with real estate marketing is that it has to be continual; you don’t just do it once then sit back to get people desperately looking for your property to rent/buy. It is just like any other worthwhile course like losing weight; you really don’t expect that exercising once and eating the right foods once will make you lose 10 pounds instantly irrespective of how extreme your measures are. You have to commit to eating right and exercising if you are keen on making any significant progress over time. Similarly, with real estate, you must market effectively and consistently to see any real progress.
The question is; how can you do it effectively to a point of being able to make millions of dollars from your craft?
Well, that’s what we will get straight into starting with the first step i.e. finding property that you will be marketing because when you think about it, if you have no property to market, you have no business being a real estate marketer.