Successful Flip
This will sound like a stupid question but how do you go about flipping a property. What should I look for?
This will sound like a stupid question but how do you go about flipping a property. What should I look for?
The only stupid question is the unasked question. If you are looking to flip the house to another investor you need to be able to buy the house for 50-65% of appraised value.According to price you can make anywhere from $3,000.00 and up per flip.
How can I get a house thats priced so far below its value and if I have to rehab it where do i count those costs. Further, what I am really unclear about is how the contractual part is done.
if you are going to rehab a property than you would just sell it on the open market and try to get FMV, if you have a contract you can either try to flip it to another investor or you can also put it on the market and sell your contract to the highest bidder.
I get all my propertie for flipping from www.foreclosures.com. they are usually well below the 50% mark after repairs.