Scott Yancey's thoughts

Scott's Thoughts

Scott Yancey is a real estate expert. He has been buying and selling homes for years, making millions in the process. In "Scott’s Thoughts,” he shares his wisdom on how to make real estate work. This blog is for casual investors to seasoned veterans.

9 Flipping Myths

The popularity of real estate and flipping shows on television has become huge in the last decade. While many of these shows offer great education, there are also a number of flipping myths floating around. Myths Vs. the Facts MYTH: Flipping is easy. FACT: Flipping is work. Some of the real estate TV shows make flipping look easy; just buy a house, paint a few walls, mow the grass, and make a whopping profit. While some flips are easier than others, make no mistake: flipping is not a 30 or […]

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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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