For people who have researched and looked into house flipping and real estate investing there’s a few terms and concepts you’ve likely seen. ARV, or after repair value, POF (proof of funds). And a principle called the 70% rule. What’s great about the internet is all of the information that is there but what is not as great is how many of those concepts and ideas may … [Read more...] about What is The 70% Rule in House Flipping?
The housing market has shown to still be moving fast and furious in many areas. In my market, I have seen more flips hitting the market lately and many are first attempts for new flippers. Many of the houses that I am seeing completed now were purchased early in 2020. Because I look at so many houses as potential projects even when I pass, I’m interested to see what happens when they … [Read more...] about Why Flips Fail
Over the past couple of weeks I’ve detailed the process on how to find a flip property and how to fund your flip. Now we are moving onto the process of the renovations, adding value to the property and the selling of your project once it’s finished. For those who are considering fix and flip for the first time, there can be many unknowns when it comes to … [Read more...] about How to Flip a House: Renovating Your Flip
How to fund a flip is an area that can trip people up when it comes to house flipping. For years, I didn’t move forward buying a flip because I believed there was just one way to purchase a house and renovate...cash. While that may be ideal, there are definitely other ways to do it. When you're just starting out and trying to build your profits, its important to know all your options you may have … [Read more...] about How to Fund a Flip: Where to Access Money and Which Option is Best
The process of flipping a house involves multiple steps. You have to find the house, buy the house, renovate the house and sell the house for profit. While this breakdown is a simple version, I also know that along the way, there are missteps that can ultimately mean the difference between a profitable flip and one where you lose money. Being diligent with the process that you follow … [Read more...] about How to Find a House to Flip – Step by Step Plan to Find a Profitable Flip