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How To Flip Houses For Massive Profits By: Curt Cloyd – Director Personal Wealth Academy, LLC So do you want to fix and flip houses for profit? Well... the fix and flip real estate model is one of the most solid real estate business models that you can rely on to make you tons of money when you start out with investing. As you do well with your fix and flip deals and generate more profit, you can use the money to buy more properties that can create rental income for you in the long run. In real estate investing, the key to success is to have a bunch of properties that throw off cash-flow each month (i.e. rental income) and a bunch of properties that you fix and flip. The properties that you fix and flip shall be used for your savings and your other rare expenses. Your rental income can be used to meet your monthly needs. This way you'll be able to do what you want, when you want, with whom you want without having to worry about money. Imagine having your all monthly bills paid off just with the rental income and you not having to work at all. Well... it's possible to achieve that feat. Although it takes time and REAL hard work to do so. With that said, here are some tips to flip houses for massive profits... 1. Find a lender The first step that you need to begin with before going to fix and flip houses is to find a hard money lender. There are many hard money lenders out there. Find one that you'd like to work with and read their terms and conditions clearly. The lender is likely to have his own guidelines on the properties that he'll fund to and the properties he won't fund to. They will also require you to provide certain personal requirements such as credit score, job income, etc. The personal details required tend to depend on the lender. But it's important that you educate yourself with the loan approval guidelines of the lender before you set out to put deals under contract. 2. Find a property Now... this is the hardest part for most newbie real estate folks. But it's something that you need to do if you want to succeed. Stop sitting on your porch and get out there and find some properties. Find properties that meet the guidelines prescribed by the lender. Now... finding properties may not be an easy task for you. It's always wise to consult a property concierge consultant or some other real estate broker to help you find properties that you can fix and flip for profit. 3. Show proof of funds Š2012 Personal Wealth Academy LLC http://personalwealthacademy.com


Well... it's time to make the seller believe that you are not wasting his/her time and want to buy the property ASAP. That's the only way you'll be able to negotiate the price with the seller and close the deal before it gets out of hand. Get a proof of funds letter from your hard money lender. But here's the thing - The proof of funds letter doesn't guarantee that you are entitled to a loan. It only guarantees that the lender has the money required to fund such a deal (subject to loan approval). 4. Close the deal The fourth step is to submit your loan application with the lender, wait until it's approved and close the deal. If you've found a property that meets the guidelines as recommended by the lender, you won't have any trouble in getting your loan application approved. The loan application will be approved and you’ll have funds wired to your closing table within a few days. 5. Fix the property Before you put the deal under contract, you should have thoroughly thought about the repair costs involved. Planning your repair expenses in advance allows you to procure funds at the right time. Plenty of real estate investors end up abandoning repairs on certain properties because they didn't plan to fix it in the most effective and economical way possible. When fixing the property, you have to ensure that you only fix things that add value to the house. You don't have to necessarily fix things that are unnecessary. 6. Flip the house Once you've fixed the house completely, it's time to resell your house at a higher price. Now flipping your house can be easy for some people especially if their house is present in a neighborhood where there's heavy demand. But unfortunately, your customers don't throw themselves onto you. You have to search for them. The internet is one place to begin with. Apart from the internet, golf clubs are where the rich customers hang out. Putting all of this together seems simple on the surface, but it’s actually really difficult to achieve on your own. That’s why we put together our real estate coaching services at Personal Wealth Academy. It will help you to reach your goals as a real estate investor – faster and easier than you ever could on your own! The thing is that we don’t work with everybody… In fact, we only work with a small group of select individual on a regular basis. You can find out if you qualify by simply taking our free real estate investor success quiz. Click here. ©2012 Personal Wealth Academy LLC http://personalwealthacademy.com

How To Flip Houses For Massive Profits  

So do you want to fix and flip houses for profit? Well... the fix and flip real estate model is one of the most solid real estate business m...

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