Everand Logo

Welcome to Everand!

  • Explore 1.5M+ audiobooks & ebooks free for 30 days

    From $11.99/month after trial. Cancel anytime.

    How to Fix and Flip Easy to Read Book
    How to Fix and Flip Easy to Read Book
    How to Fix and Flip Easy to Read Book
    Ebook76 pages57 minutes

    How to Fix and Flip Easy to Read Book

    By Frank Vogel

    3/5

    ()

    Read preview

    About this ebook

    There are many advantages to a fix and flip real estate business. This includes the unique opportunity to gain satisfaction from revitalizing a property and a tremendous potential for profit from a fix and flip deal.

     

    This book is easy to read and a great starting point for anyone interested in fix and flip real estate investing.

     

    In this book you'll discover how to:

     

    Finance your flips with banks, hard money, private money, and more

    Find killer deals that make it possible to make a lot of money flipping houses

    Accurately predict the costs and repairs that will come with a flip

    Figure out what houses you should buy and which houses you should stay away from

    Structure offers and negotiate

    Find contractors and keep good contractors working hard

     

    LanguageEnglish
    PublisherFrank Vogel
    Release dateSep 22, 2023
    ISBN9798223031086
    How to Fix and Flip Easy to Read Book
    Author

    Frank Vogel

    Frank Vogel founder of Winston Rowe and Associates is a national consulting and due diligence firm that specializes in short- and long-term financing solutions for the purchase, refinance, cash out and development of a variety of commercial properties nationwide.

    Read more from Frank Vogel

    Related to How to Fix and Flip Easy to Read Book

    Related ebooks

    Small Business & Entrepreneurs For You

    View More
    View More

    Related podcast episodes

    Related categories

    Reviews for How to Fix and Flip Easy to Read Book

    3/5

    1 rating0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      How to Fix and Flip Easy to Read Book - Frank Vogel

      Chapter 1

      Overview of Fix and Flipping

      Fix and flipping houses are a real estate investment strategy that involves purchasing, renovating, and selling distressed or undervalued properties for a profit.

      While it offers the potential for substantial returns, it also requires careful planning, market knowledge, and financial management to be successful. It's a dynamic and competitive field that can be lucrative for those who do their due diligence and effectively manage the associated risks.

      Property Acquisition: Fix and flippers begin by identifying properties that are typically in poor condition or require significant updates. These properties are often priced below market value due to their condition or circumstances, such as foreclosures or bank-owned properties.

      Renovation: After acquiring a property, investors invest time and money in renovating or rehabilitating it. Renovations can include structural repairs, cosmetic upgrades, and modernization to make the property more attractive to potential buyers.

      Market Research: Successful fix and flippers conduct thorough market research to understand the local real estate market, current trends, and the preferences of potential buyers. This helps them make informed decisions about the scope of renovations and the listing price.

      Budgeting and Cost Management: A crucial aspect of fix and flipping is managing the renovation budget. Investors must accurately estimate costs and avoid overspending, as overruns can eat into potential profits.

      Timing: Timing is critical in fix and flipping. Investors aim to complete renovations efficiently to minimize holding costs such as property taxes, insurance, and mortgage payments. A faster turnaround can also help capitalize on a hot market.

      Selling Strategy: Once the property is renovated, it is listed for sale. Investors may work with real estate agents or sell the property themselves. Effective marketing and pricing are essential to attract buyers and maximize profits.

      Return on Investment (ROI): The ultimate goal of fix and flipping is to generate a profit when the property sells. Investors calculate their ROI by subtracting the total acquisition and renovation costs from the sale price.

      Risk and Challenges: Fix and flipping homes carries risks, including unexpected renovation costs, market downturns, and the potential for properties to sit on the market longer than expected. It requires a keen eye for property assessment, renovation expertise, and financial acumen.

      Legal and Regulatory Considerations: Investors must comply with local building codes, zoning regulations, and other legal requirements during the renovation process. Failure to do so can result in fines or delays.

      Exit Strategy: Some fix and flippers choose to hold properties as rental investments, while others specialize in selling them quickly for profit. The choice of exit strategy depends on individual goals and market conditions.

      Chapter 2

      Finding Properties

      Finding houses to flip can be difficult, but that doesn’t mean that you should jump at the first opportunity you come across. A rehabber also needs to know how to choose the right property. In this section, we explain how to choose houses to flip by looking at location, physical characteristics, financial considerations, and more.

      Location

      You’ve heard it before, and its true location, location and location.

      Nothing will determine the value of your house flip more than where it is located, starting with the city, and further consideration given to neighborhood, location within a neighborhood (busy street, quiet street, etc.), school district, and even school.

      Proximity to positive factors such as stores and public transportation will increase value, while proximity to negative factors, such as highways and airports will decrease in value.

      When looking to choose a house to flip, you need to understand the property in the context of where it sits.

      To figure this out, you need to start with who you expect the purchaser to be.

      Is the neighborhood full of young, single people? If so, the school district becomes less important.

      Is the purchaser a young couple with small children? Then, the school district becomes highly important.

      Is the environment urban, where owning a car is a luxury? If so, then you need to consider the proximity of your property to public transportation.

      Is the area missing easy access to public transportation? Then you should find a house with parking included.

      Does your neighborhood have ample parking? Does the property have a driveway or garage?

      There are many questions like this that need to be understood before committing to a rehab project.

      Do the same research that your buyers will do.

      Different towns and counties can have dramatically different tax rates for school taxes and real estate taxes. Some townships may pick up trash twice as a municipal service. Others do not pick up trash at all and you will have to enter into a private contract for trash removal. You should know these things about your property.

      If the quality of schools is an issue, research lists of the best schools in the area you are interested in working with. Look at the

      Enjoying the preview?
      Page 1 of 5