7 Tips to Keep from Losing Money When Flipping Property


You can make big bucks flipping, yet you can also lose money. Getting educated and experienced can help you avoid costly mistakes… and you can watch your money grow instead of going down the drain. Here are my 7 tips to keep you from losing money when flipping property:   Tip 1: Accounting  While accounting might not be what attracted you to flipping property, keeping records current and knowing what to look for is every bit as important as knowing how to fix up property. Accounting is nothing more than […]

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Mistakes That Can Make You Flip Instead of Your Property


Do The Math Flipping is a game of numbers. The obvious numbers are: the cost (what you pay for a property) plus the total expenses (what it cost you to repair, prepare, and market the property for sale) equals gross profit. Also if you are borrowing money learning how to calculate interest on loans is imperative. However there are a few more numbers you need to be familiar with that can make or break your project. You need to know:   how to correctly measure square footage   a breakdown […]

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Building a Brand for Flipping Real Estate


Investing in real estate and flipping houses can be done by remaining fairly anonymous. However if you want the deals to come to you and have more people wanting to do business with you, you need to market yourself or business. In order to optimize marketing you need a brand for flipping real estate. Branding helps you build established respect and trust. Authenticity is how you will be judged. When people sense you are authentic and consistent, they value your passion and identify with you. You do not have to […]

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What Can You Do with All Your Flipping Waste?


As you can see on a number of our ‘Flipping Vegas’ shows, renovation can generate a lot of ‘flipping waste’. Not only do past residents sometimes leave behind truck loads of garbage, but renovation generates hundreds and even thousands of pounds of scrap and debris. Start by estimating and classifying the waste you will have before you begin a renovation. Some articles left behind by previous home owners or tenants are usable. So are some items that will be replaced such as bathtubs, light fixtures, doors, kitchen cupboards, windows, etc. If […]

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How to Establish Credit to Buy Property


When you are starting out, buying real estate to flip can seem a bit overwhelming. You will commonly be looking at dollar signs with larger numbers than you are used to. With the median home price in the US hovering close to $200,0001 at the time of this writing, buying even one piece of real estate to flip or invest in can be much more money than you have on hand. So how in the world are you supposed to come up with the cash? Most real estate investors do not […]

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6 Tips for Property Inspections


When buying property you can eliminate or at least minimize the chances of costly surprises by knowing what to look for when inspecting property. If you are flipping property the information you gather during inspection will help you estimate any rehab expenses. Depending on your area you can hire a property inspector for a few hundred dollars to inspect and report on properties you are buying. Property inspections do not include the following, for which particular licenses are required to inspect and identify: Asbestos Radon Gas Lead Paint Toxic Mold […]

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7 Easy Tips to Grow Your Real Estate Business and Still Have a Life!


Working to grow your real estate business can easily take over your life. There is always something to do. Even weekends are a busy time in this business as there are new listings, open houses, and phone calls for prospecting. Hungry beginners commonly see the money to be made and go at the business like a nomad lost in the desert that stumbles upon a buffet. If you are not careful, you will overload your plate with business and your relationships, family, and peace of mind will take a back […]

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What is a Real Estate Offer to Purchase?

Joel Fixed

A real estate offer to purchase is like a shot in hockey. And as the great Wayne Gretzy said, “You miss 100% of the shots you don’t take.” In real estate, you will miss out on every deal you do not write an offer for. In order to get the deals in real estate you need to write offers. Some will be rejected, some will result in counter offers, and a few will be accepted immediately I have seen beginning real estate investors freeze when the time comes to make […]

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How Can You Scout Property Like A Pro?


When you scout property, locating great investments or deals can feel like a race. You know properties can go under contract at any moment. You need to get your offer in first and win the race, or have the best offer. Yet even if your offer is accepted and you win the race, how do you know you are buying a ‘winning’ property? You will frequently scour through hundreds and even thousands of listings looking for a property to buy. You need to be able to evaluate properties accurately and […]

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How to Find Motivated Property Sellers

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Learning how to find motivated property sellers can be like discovering which claims yield gold in real estate. There is a comprehensive list of vital criteria I use for finding, qualifying, and buying property. Obviously location is a huge factor, as well as property size, condition, neighborhood, structure layout, current market demand, and more. Yet there is another factor for the real estate investor that ranks up there with ‘Location, location, location!’ that can make your deals boom or bust right from the start. That is the seller. Whether you […]

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