Is flipping houses a legitimate business in the current economy? For the street smart real estate investors, flipping houses has become even more lucrative, even in the current market conditions.
However, for some, the dream to flip houses full time has become a real life scenario. And to these few, they understand that there's more to flipping homes than just fixing up the property to resell. For those that are successful, there are three steps to making the business work for you.
1. Getting leads in your pipeline.
Don't confuse your leads with actual deals. You should continously market your real estate business to get more leads into your funnel. This is the starting foundation.
Stay on the lookout for motivated sellers and potential properties. Take this first step and start marketing your business in an attempt to find and attract motivated seller leads.
2. Converting the leads.
Once you market your business, you'll start getting leads of red hot motivated sellers begging you to buy their homes. So, next you'll want to pre-qualify your seller to make sure they're motivated. And then you've got to listen to your seller to make a win-win offer. The more information that you collect on the phone call or by your website, the more time you will save.
3. Master the exit strategy.
This should be what you think of before ever presenting the offer. Although, this is the last piece of the puzzle, you should began the entire process with the end in mind - how you plan to get out of the deal and get paid?
Here are some options to consider selling your deal:
a. Do you plan to flip the property fast to another investor that will buy the property to fix up, and then resell to a homeowner?
b. Are you going to sell to a landlord investor?
c. Would any other investors that you know be interested in the deal you have?
In order to succeed in this business, you've got to flip the home as fast as possible. Build solid relationships with other real estate investors in your own area because these investors are always looking for more deals.
Negotiate a good enough deal so that you can leave some money on the table for your buyer. Investors don't care if you make a profit as long as the deal makes sense for them.
However, for some, the dream to flip houses full time has become a real life scenario. And to these few, they understand that there's more to flipping homes than just fixing up the property to resell. For those that are successful, there are three steps to making the business work for you.
1. Getting leads in your pipeline.
Don't confuse your leads with actual deals. You should continously market your real estate business to get more leads into your funnel. This is the starting foundation.
Stay on the lookout for motivated sellers and potential properties. Take this first step and start marketing your business in an attempt to find and attract motivated seller leads.
2. Converting the leads.
Once you market your business, you'll start getting leads of red hot motivated sellers begging you to buy their homes. So, next you'll want to pre-qualify your seller to make sure they're motivated. And then you've got to listen to your seller to make a win-win offer. The more information that you collect on the phone call or by your website, the more time you will save.
3. Master the exit strategy.
This should be what you think of before ever presenting the offer. Although, this is the last piece of the puzzle, you should began the entire process with the end in mind - how you plan to get out of the deal and get paid?
Here are some options to consider selling your deal:
a. Do you plan to flip the property fast to another investor that will buy the property to fix up, and then resell to a homeowner?
b. Are you going to sell to a landlord investor?
c. Would any other investors that you know be interested in the deal you have?
In order to succeed in this business, you've got to flip the home as fast as possible. Build solid relationships with other real estate investors in your own area because these investors are always looking for more deals.
Negotiate a good enough deal so that you can leave some money on the table for your buyer. Investors don't care if you make a profit as long as the deal makes sense for them.
About the Author:
Discover how to make money in real estate with the Real Estate Rebel's Creative Real Estate. For more information visit http://www.reirebel.com
No comments:
Post a Comment