Use ’em or Lose ’em
Some things to keep in mind when dealing with realtors as an investor… Agents understand retail buyers but you’re not a retail buyer. Your an investor! Be prepared that not all agents are willing to work with investors. Agents can work for you (for free because they get paid by the seller)…
Build It and They Will Come…
A key to your success in rehabbing is finding deals that when fixed up will make you money. There are several methods to do this – most involve marketing yourself as a cash buyer looking for discounts. Why? Marketing drives your business of securing houses. Without houses to fix and…
By My Estimation…
How to quickly estimate the repair costs… …of a house you’re thinking of flipping profit. Master this skill so you can estimate repair costs (even without physically seeing it) so you can quickly decide if you have a good deal. With time and experience – you can accurately estimate. It’s…
Get Your Ducks in a Row
OK, so you bought your first (or second) ugly duckling house at a great discount! You’ve visualized it as a prince and calculated the after repair value (ARV). You’re excited about the profit when you sell it but wait… …there’s the rehab project to get done. Get your ducks in…
Your A Team…
… Building a winning team for your real estate investing business is key. Start building (or expanding) it today! Success depends on a team of experts Create leverage of time, knowledge, experience Use the Reciprocity Principle Your leadership – lead a high performance team Develop and build win-win relationships …
Let Me Show You the Way Out…
…Know your exit strategy Most focus on how to buy a house (entry strategy), as an investment, while few focus on what to do with it later (exit strategy), when they’re contemplating the purchase. Begin with the end in mind. Examples of exit strategies: Generate cash fast (very short-term)…
Murphy’s Law
When building or starting your rehabbing business, have the mindset to power through obstacles – because you’re going to have them! Ingrain these 4 keys into your mindset Be prepared – for the old adage (Anything that can go wrong will go wrong.) Be thorough, pay attention to details, and…
Flipping or Speculating
Flipping works In any market… …if done right. Whether the market is up or down – east coast, west coast or somewhere in between – rehabbing (flipping) houses works for investors with the right approach. If you follow fundamental, conservative and systematic principles – you won’t experience what many speculators…
Do you remember the KISS?
Yes – Keep It Simple STUPID Especially when first starting your rehabbing house business – keep it simple. Pick opportunities that are simple and straight forward to renovate. Focus on houses that need moderate cosmetic repairs. Avoid large and/or complex renovation projects such as ones with structural damage, room additions…
Now or Later?
OK so you found a house to fix and put back on the market. You’ve completed the rehab and just sold it. Now you have your check – praise God! Most people think this is when you make your money. Well it’s not! In real estate rehabbing – you make…
