Download Getting Started in Property Flipping by Michael C. Thomsett PDF

By Michael C. Thomsett

A NON-TRADITIONAL method of actual property GETTING began IN estate FLIPPING the concept that of estate flipping isn't really new; in reality, it's been round for a long time. the fundamental premise of flipping consists of stepping into an possession place of a bit of estate after which promoting that piece of estate for a profit--all within the shortest period of time attainable. Flipping will be utilized to uncooked land, advertisement, or business estate, yet these are extra complicated endeavors. Getting all started in estate Flipping eases you into this enviornment via focusing the dialogue on single-family residential estate. Written by way of acclaimed genuine property investor and bestselling writer Michael C. Thomsett, Getting began in estate Flipping is an available creation to this inventive method of actual property making an investment. jam-packed with real-world examples and functional suggestion, this ebook sincerely exhibits you the numerous facets of estate flipping and takes you thru the method of defining even if flipping is an acceptable technique for you. Getting began in estate Flipping additionally offers you invaluable details on flipping thoughts, ways to valuing estate, and numerous different concerns you want to get to grips with so as to be successful. Written from an investor's point-of-view, Getting began in estate Flipping is an easy advisor to a hugely ecocnomic box.

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Market conditions in your area today. The starting point in any investment is a critical analysis of the market itself. Stock investors seldom are enthusiastic when markets are volatile and weak; they prefer investing when the market is strong and the mood optimistic. The same rule applies in real estate. What are today’s conditions and mood? Remember, real estate markets—unlike stocks—are always local, so national averages or news from other areas is not valid in your regional analysis. 2. Growth history and potential.

2. Identifying and reaching time goals. The goals you set might not be limited to profits. You might be more interested in getting in and out of a deal in a specific time frame, such as two months or six months. Because conditions may have changed since buying the property, however, you will not always have control over the time element. It might be necessary to sell sooner than planned or to wait longer than you thought. It might also become attractive to convert the flipped property to a long-term hold and rent it out.

Qxp 11/10/06 10:07 AM Page 33 The Ideal Holding Period 33 Key Point How long do you intend to hold a property? The answer defines the types of strategies you will need to employ. 4. Ideal holding period. The property flipping strategy often involves a quick turnaround in the holding period. But based on the strength of the local market, the type of property, and your specific investment goals, the actual holding period may vary considerably. In some flipping strategies (to be explained later in the book), a property can be sold even before it has been bought, using options.

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