Flip Real Estate

"Free" Home Inspection Checklist On The Bottom of This Page

Flip Real Estate, Learn About Flipping a House For Profit. The Secret is Buying Bargain Real Estate. When you buy your property below market value, making money is guaranteed.

A Poorly Executed Exit Plan to Flip Real Estate Can Spoil Your Day. Put your exit plan in writing. before you make an offer to buy anything. When you have some rules to follow your chances of making a mistake are reduced by 70% or more.

Flipping real estate is nothing more than buying low and selling high. Once you establish your guidelines "In Writing" you can make changes anytime you please. Most experts have operating guidelines, so set-up some guidelines before you trash your bank account trying to flip real estate.

Learn When to Flip and When to Hold.

So You Want To Flip houses... You must buy at the right price and terms. Then have an Exit Plan in place before you ever commit to the purchase.

The ability to flip property for a profit requires some serious planning. One of the first steps in planning the purchase is understanding your real estate market.

There are two very important bits of information on this web site that will assist you in flipping real estate.

1. Study The Real Estate Market Cycles.

2. For a Fast Loan Check Out Hard Money Loans.

When you master the art of forecasting future market values and you know how market cycles evolve then to flip real estate will be a walk in the park. Go to Flip This House.

This often requires a quick sale of their home or other investment property. For many people their entire life savings are tied up in real estate.

When the wolves are at the door and debt collectors are in hot pursuit. People Panic... So when you flip real estate, many times you are the only hope of solving one of life’s desperate problems.

Back to the Business at hand; How to Flip Real Estate.

Finding properties to flip can consume hours of your time. If you are planning on using a Realtor make sure to hire a Buyers/Agent. I have said this before and I will say it again.

Learn how to find properties on your own. And learn how to value properties so you will know a good property when you see one.

If, you are going to flip real estate you need to keep the following in mind.

• Realtors work on commission and they usually work for the Seller unless they are employed by you as a Buyers/ Agent.

• Very few Realtors will show you a property that is not listed for sale.

• When you are competing with other buyers that are using Realtors and the MLS to find properties your chances of find a Real Deal is slim to none... To find a Buyers Agent. Go to Find Realtors. With my tried and true system for finding anxious sellers you can find all the property you will ever need. And the best part is.

When you flip real estate you can trade the information on the unwanted properties to your Buyers/Agent for property profiles and other valuable market information.

FLIP HOUSES: Some times flipping brings out the worst in people so protect yourself and study the videos on the Jurisdictionary website.Watch the FREE Instructional Videos. Left Side Half Way Down...

Buying your first property will be stressful so plan for it. When flipping real estate the first thing I do is make a full physical inspection of the real estate and question the seller about why...they are interested in selling.

This is the routine. Ask questions, listen to the answers and keep your mouth shut except to ask more questions.

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It is a good idea to pretend that you are a Very Smart Attorney and NEVER ask a question that you Do Not already know the answer to. You will soon understand what I’m telling you about people being deceitful.

Every thing you see that is damaged, broken or in disrepair ask about it. Make it a point to look at the top of the walls and the ceiling in every room. When you flip real estate mistakes can be costly...

This is where stress cracks how-up. Most buyers spend all there time looking at the floors and never see the trouble areas.

To build your confidence, have your friendly Realtor Buyers/Agent show you through several vacant houses. Pretend that the Agent is the seller and grill her on everything you can think of.

Read This Home Inspection Checklist Before You Buy.

Home Inspection Checklist:

• Exterior Walls Check For: Brick and Masonry for cracks, wood siding for decay, cracking and paint failure, siding for loose or missing pieces, asbestos tiles for cracks & fascias and soffits for paint failure.

• Roof Check For: Curling or missing shingles, cracked or missing roof tiles, damaged flashing, gutters, and chimney caps if the house has chimney and verify age of roof.

• Site Check For: Driveways and sidewalks for cracks and settling, any wood surfaces that are in contact with the soil> (termite potential)

• Doors and Windows Check For: Doors and windows to open, and close properly, damaged or missing screens and broken glass, caulking around doors and windows, auto-reverse child safety garage door openers.

• Interior Surfaces Check For: Cracks in walls and ceilings, water stains on walls and ceilings, age and condition of floor coverings.

• Plumbing Systems Check For: Leaking faucets, drains that drain slow, leaks under sinks, waste disposal working, water heater for leaks and rust.

• Heating & Cooling Check For: Furnace or A/C filters clean, cold air blowing out of A/C when turned on to cold, and warm air blowing when heat is on.

• Electrical Check For: GFI receptacles (Ground Fault Interrupt) in bathrooms, kitchens, and out side receptacles, missing or broken switch or receptacle covers, covers on all junction boxes.

• When Buying Older Homes Check For:

• Radon: A naturally occurring gas that has been identified as the second leading cause of lung cancer. It usually enters the home through cracks in the foundation.

• Lead Pipes: Lead also was present in much of the solder used to join copper pipes as recently as the mid-1980s.

• Lead-Based Paint: Any house built prior to1978, may have lead based paint. Lead based paint must be disclosed, however if you are buying from an owner they may not be aware of the law.

• Asbestos: This hazard was most commonly used to insulate attics, furnaces and boilers, as well as hot water pipes. It also was commonly used in floor tiles, fiber siding, and in roofing material.

Remodelers will not touch asbestos without a permit. Anytime you see a white cloth covering ductwork, you've got to assume that that's asbestos, and you need to bring in a licensed professional to remove it.

• Grounded Outlets: Electrical wiring in older homes differs from modern wiring in several respects. The electrical boxes were typically 60 or 100 amps. Today's standard is 200 amps. Wiring was not grounded.

• Oil Tanks: This was a common heating fuel for many older homes. Most states require contractors to obtain a special environmental permit before removing buried heating oil tanks. Samples must be taken from the soil around the tank to assess contamination.

• Wells, Cesspools and Septic Tanks: Many vintage properties converted to public sewer systems, leaving unused wells, cesspools and septic tanks on the property. When a remodeling contractor unearths one of these surprises, the solutions vary, from draining the contents to filling it in some manner. If building is planned over the area, an old septic tank may have to be removed.

** NOTE** Home inspectors have a clause in their contracts called concealed conditions. While it is possible to inspect the inside, outside and even crawl in the attic and underneath the house, they do not have X-ray vision and will exclude liability for concealed problems.

When you flip real estate there are 3 things you need and that is money, market knowledge and the skills to find anxious sellers you can deal with them.

FLIP REAL ESTATE: When you are learning to flip houses, keep in mind that real estate seems to attract legal problems. so be ready and learn how to work the system using information on Jurisdictionary Just watch the FREE Instructional Videos. Left Side Half Way Down...

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