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Articles: Real
Estate - Fix and Flip
By Jeanette Joy
Fisher
Many real estate
investors make $5,000 to $10,000 or more by flipping houses. These
investors buy a home from a distressed seller and resell it quickly
for a profit. Just because a seller has serious problems like a
pending foreclosure or divorce doesn't mean the house is a fixer.
Many distressed sellers offer prime houses in perfect condition
discounted for a quick sale.
Distressed sellers jump at the
chance to get out from under their overwhelming problems with an
offer to close in ten days. To purchase a home quickly, you need to
be prepared to offer cash or a have secure loan in place with a
reliable mortgage lender.
Other real estate investors prefer
to buy fixers from distressed sellers. Distressed fixers present the
best investment to make the highest return on your money. For
instance, if you put 5 own on a $200,000 home, spend $5,000 fixing
the house up, and another $3,000 in payments, your cash investment
totals $18,000. If you sell the home for a $70,000 profit like many
real estate fixers, you can see that your return on your investment
of $18,000 for two months exceeds most other types of investments.
This investment plan assumes that you have the knowledge and
skills, time to work on your fixer, and that you sell the house as
soon as its finished to a qualified buyer. Home improvement centers
help you with how-to classes, brochures, and advice. You need to
give up your free time--TV, parties, leisure activities and work on
your fixer. You could hire workers, but contractors and laborers
work slowly and eat up your profits.
The last part of the
equation, selling your house quickly to a qualified buyer means you
need to do your homework. Many investors seek free help from a loan
officer to price the house right and to qualify their buyers. These
investors earn the sales commission by selling their houses by
owner.
The most important issue, how you fix up your house,
ensures that you quickly attract a buyer willing to pay top dollar
for your transformed property. Investors using Design Psychology
strategies for fixing houses sell their homes, for more than the
asking price, three hours after putting the yard sign out.
Whether you want to make money investing in real estate by
flipping or fixing houses, you need to understand your market. To
get started in your real estate business, go house shopping. You'll
soon learn how to pick up a flip or a fixer and be on your way to
making a high return on your investment capital.
Copyright (C) 2008 Jeanette
J. Fisher. All rights reserved.
Jeanette Fisher, author
of Sell Your Home for Top Dollar--FAST! Design Psychology for
Redesign and Home Staging, teaches Design Psychology. She also wrote
Doghouse to Dollhouse for Dollars and other books. http://www.doghousetodollhousefordollars.comFor a free report, "Design Psychology for
Selling Houses," go to http://sellfast.info
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