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…

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…

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…

What makes a property a good wholesale prospect? My first and shortest answer is that it has to show that it can make enough money to get a real estate investor’s attention – and even more to make it worthwhile for you, as the middleman.   Remember that the greatest risk belongs to whoever does the rehab and then either sells to the home buyer, or rents the property out. The rehabbing investor gets the greater share of the profits, often twice what the wholesaler will make.   Criteria #1 is to satisfy your target investor who will buy (or Read more…

I began wholesaling over 13 years ago, because I had too many properties at one time, and not enough crews to work them all. Some properties would have to wait several weeks before a crew could start – costing me money all the time.   In property investing,waiting drains the wallet with monthly carrying costs such as utilities, insurance,interest on loans, upkeep if a yard must be maintained, and even security measures. Money is going out by the double-handful, and nothing is coming in.   An equally important cost of waiting: I had put capital into each of them that Read more…

Real estate investing for rehabbing requires that you master a critical skill: determining the ARV, or the After-RepairValue, of a property. This number determines what purchase price you should offer`the seller to lock in your profit.   You can research the ARV before you know the contractor’s estimate, or your purchase price.Look outwardly at the market, and let comparables guide you toward the ARV.With the ARV in hand you will know how much this deal will earn after all the costs are paid out – rehab costs, selling costs, and all carrying costs.   Wholesalers especially must be able to Read more…

This month’s wholesaling theme will have you searching for real estate investors to take over projects you’ve found. These people will also be great contacts for future real estate investor sales, partnerships,and sources of great leads – so here are some tips on where the elusive real estate investors may be found.   Real estate investors aren’t that hard to find if you think about it – in fact, they are trying to find you, or at least your wholesale property that’s primed to make them money!Be out there in the space they hunt for such properties. Put together a Read more…