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Below you will find three different methods you can use right now to start flipping homes. Flipping properties can be very profitable.

If you’ve spent any time online researching real estate investing,
you’ve probably encountered some advice from so-called gurus.
Gurus tend to preach a method known as “buy and hold”. This is where you buy a property, hang on to it for a while, perhaps
renting it out, waiting until the market is right to sell and
achieve maximum profit.

I’m not one to argue with self-proclaimed “gurus” but this method
is tricky for newbies in the real estate game. It really only works
in certain markets and for certain types of real estate.

If you’re just getting started in the business, there is no better
way to start making money than flipping houses!

I’m going to share with you three ways to flip a house for cash.

There are basically three ways to flip a house and each one has its
place in terms of location, property type and seller motivation.

The First method you can use to flip a house is called retailing.
Basically what this means is you buy a distressed house in your
area that is in pre-foreclosure. These properties are being sold at
bargain prices way below their actual market value.

There are many types of distressed houses and there are several
ways to flip a house quickly on the market. You just need to know
the techniques that will add the most value in the least amount of
time in the most cost effective way.

The second method you can use to flip a house is called
wholesaling. This is the process of finding a house that is for
sale and flipping it to a real estate investor for a small but fast
profit.

All you need to know is who the real estate investors are
in your area, what type of house flips they are looking for and how
to fund your purchase of the house so you can flip it to them.

The third method is called assigning the purchase. This is where
you contract to buy the house and then instead of closing the
purchase yourself you assign the contract to a real estate investor
for a fee.

They take over the contract and then close the purchase instead of you and they flip the house. You do need to word your contract in a very specific way to do this legally and you need to know how to determine the assignment fee. This can be a very profitable method of house flipping.

Aiden Win
Mr. Foreclosure

The information provided by Aiden in this article is just touching the surface of his knowledge.

Canada’s Largest Database Goldmine Of Pre-Foreclosure Real Estate For Up To 50% Below Market!

ForeclosuresTaxSales.com

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Who ever said Real Estate investing was easy was probably not investing, but those who have stuck with their dreams and have developed a system that works in up and down market conditions will more then likely come out a winner.

In the US 1 in 8 homes are overdue in their payments. When late payments increase, the foreclosure proceedings will also increase, and when foreclosures increase properties will be available at a discounted rate. When properties are sold under these conditions the struggles are far from over.

It has been forecast that 48% of mortgages held in the US will owe more money than their properties are worth before the end of the housing recession (Deutsche Bank report). Also the forecast for the percentage of borrowers in the United States owing more than 125% of their properties value will be increasing to 28% of all mortgage holders.

With these factors unfolding it could lead to further US housing declines for several years to come.

Hans Anderson

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One of the best things you can do for your self is getting a pre-approval

Getting a pre-approval for mortgage financing before you start to look for a home is the best way to go, whether you are buying a property to live in or as an investment

If you want a get a clear-cut sense of how much you are eligible to borrow then you want to get a pre-approval. A pre-approval will also assure you of a locked-in mortgage rate for a set period of time, so there is no risk of any interest rate increases while you are house hunting. When you use a mortgage broker, the broker may be able to obtain a longer pre-approval rate hold.

Remember that the property you intend to purchase – along with your supporting information (such as income, down payment and employment history) will have to meet the financial institution’s criteria to be approved for lending. An important note to remember is that a pre-approval is not a guarantee of financing, and does not eliminate the need to make a conditional offer. When giving details to your mortgage broker or agent be truthful, you don’t need to have your deal held up because you gave inaccurate information.

Hans

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A good way to locate distressed properties is to go down to your local city hall and visit your city or county building code enforcement agency.

Introduce yourself, let them know that you are in the business of real estate investing. Tell them you are interested in distressed properties and that you rehabilitate these properties. Discuss with them their files on condemned buildings or properties that have multiple violations.

Don’t be shocked when they have no problem showing and discussing this information with you.

Once you have this information contact the owners and discuss possible deals.

This post is going to go into a new category titled “Ways To Locate Bargains”

Hans Anderson

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When is a condo not a condo?

When looking for a condominium, be aware that different buildings may have very different types ownership.

Freehold Units

Most condos are freehold strata units, where typically you have fee simple ownership of your unit. The land as well as common areas are owned collectively by all the owners. With most freehold condos, you pay monthly strata fees for upkeep.

Leasehold Units

Here you have a lease from a landlord for the right to use the unit for a specific number of years. Many leaseholds are created for 99 years, and you may only purchase your unit for the part of the lease that remains.

Co-op Units

With this arrangement you purchase shares in a co-operative association which owns the land and building including individual units and common areas, and you have a leasehold interest in your unit. You usually pay monthly dues to the co-op board to cover the building’s taxes and upkeep.

Condo buying tip

Monthly condo fees can affect how much home you can afford. By choosing a property where the monthly fees are just $200 lower, you can boost your purchasing power by $18,000.

Hans Anderson

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