As a flipper and real estate investor with years of experience dealing with thousands of properties, I recommend professional staging that more than pays back by helping a house sell more quickly. Every day on the market costs me in expenses – utilities, insurance, interest to lenders, etc. – and delays starting the next profit-maker. But – beware do-it-yourself staging! As with everything else about your flip project, DIY’ers get it wrong with alarming frequency. Even more alarming is that they often don’t realize it until the first realtors and homebuyers have already seen it and the damage to a Read more…

Realtors and statistics agree that properties with great curb appeal spend less time on the market than do those with bland front views. Landscaping is a given for a savvy real estate investor. Now, go the extra step and devote a few dollars and hours to making the first view of your project property a magnet for homebuyer offers.   Driveways and sidewalksThose dirty discolorations and cracks may be both the first thing and the last thing homebuyers and real estate agents see when arriving and leaving. Noticeable cracks and stains can ruin the effect of lovely landscaping and fresh Read more…

“Time is Money” – never is that more true than in a real estate investor’s flip project. Each project property is running a dollar meter every day until it sells to a homebuyer. Beware of these pitfalls that can cause project delays and drain your cash on your carrying costs, including utilities, insurance, interest on borrowed funds, etc. Do-It-Yourself work, followed by professional do-over’sNew investors are told this until their ears bleed – and still some will overestimate their ability to save a few bucks with a DIY. If you can’t do it to the same standard as an expert Read more…

Experienced real estate investors have learned to appreciate those title companies with personnel that will work with them and do a great job. But new investors may be thoroughly confused – what is it that title companies do that result in all the charges and fees? What should you expect from your “favorite” title company?   First, know that your local title company is eager to talk with you and explain what they do, even before you do business with them. As a real estate investor you are a wanted repeat-business customer. Take them up on their open door. Let Read more…

Question: Perhaps every property problem is fixable in some form or fashion, but always ask yourself – “is it worth it?” How does the savvy real estate investor evaluate when the answer should be “no”? Answer: The “problem” itself is not what matters, or whether you think it is a “big” or “small” problem. Learn the simple wisdom of always focusing on the big picture: the effect on the project’s profitability. Of course you can’t duck every big issue and stay in this business! There are plenty of profits to be made on a property problem, if you can use Read more…

The whole point of real estate investing by flipping properties is to do projects and make money – so not doing a great deal because you are out of ready cash defeats the purpose! But where is this money-tree that can expand your business and your profits?   Unless you just sold a project, as a flipper you are likely to consider yourself constantly “broke”. Flipping is a cash-eating beast, even if the end of the project has handsome rewards for having the fortitude to complete it. Especially if you are doing more than one project at a time, active Read more…

Making below-market offers is a kind of reverse sales process, and an intriguing part of the wholesaling and flipping areas of real estate investing. You want to convince the homeowner/seller to let you give them money, rather than persuade them to give you theirs. But – and this is a very big “but” – you are offering less than they probably think they should have. Why should they agree? Will they accept your offer because, objectively, this is the smartest decision they can make? Interestingly, people rarely make big decisions based on objective criteria. Most decisions are emotional, even major Read more…

Where can you find a rehab property with good potential for wholesaling or flipping?   Your first criteria for buying to wholesale, or to fix & flip, is to purchase at a steep discount from the local market value. So, you are looking for problems you can fix that will lower the price, substantially. That means properties with problems, and sellers with problems – both types of problems being the kind the homeowner can best solve by selling this property fast, for cash.   This is where the footwork comes in, and where you, as a wholesaler, add value for Read more…