In my last post, we uncovered three potential problems with double closings. Generally speaking, they are a overcomplicated, difficult, and occasionally dangerous technique. You can almost always use a different strategy to flip the property, such as an assignable contract or a simple purchase. Both strategies are far easier, especially for beginners.
But sometimes you have […]
Double closings are the hottest selling silver bullet for investors interested in flipping houses. They allow you to:
Get around financing requirements by quickly moving money from one account to another
Keep your purchase price secret by never exposing your contract
Work with less liquid buyers because the "assignment fee" is financed
Sounds perfect, doesn’t it? […]
Financing is always a problem for house flippers. Because of recent problems with mortgage fraud, many lenders have instituted seasoning requirements. They require you to wait 3-6 months before selling the property or a higher value than your purchase price. When you’re trying to flip a house, this is a big problem. Here are a […]
Yes! You can flip a house to an average home buyer. It’s called "retailing." In fact, because of the price range that I operate in, I retail all of my properties. Your money moves a little slower, but the profit margins and reduced man-hours are much more rewarding. Here are a few tips for flipping […]
In the 21st century, everyone knows the word "gay" refers to people that are homosexual, but back in the 1950s, the meaning was contested. The alternate definition was "full of joy and mirth."
Can you imagine the confusion? Tell one group of people that you’re "gay" and they’ll assume you’re happy. Tell another group and they’ll […]
My, if this question isn’t controversial! You’ll find diehard believers in both camps. Many investors will tell you that assigning contracts is the only way for truly "creative" investors. Others swear that you need to buy the house and that assigning contracts is an outdated strategy. Who is right?
Like most unsolvable arguments, the truth is […]
Those three little words, "and/or assigns," lead us to one of the most popular strategies in real estate: flipping houses by assigning contracts. Only, is it a good idea? Like any strategy, assignable contracts have their advantages and disadvantages. Thousands of people have made money by using them, but it’s important to understand the ups […]
If you’re flipping houses, the worst thing that can happen to you is buying a house that you can’t sell. You make money by quickly flipping the house to another investor, not tying up your cash for months in a dud real estate investment.
The reality is buying houses at discounts isn’t enough; you need the […]
Of all the investing strategies available to beginners, flipping houses is probably the most exciting. You buy a real estate investment well under market value and then resell it to another investor for a small but fast profit. So, instead of waiting six months or longer to sell to an average homebuyer, you make money […]
Flipping, wholesaling — you can call it whatever you want, but how do investors actually "flip" a house? We’ve discussed a few of the finer details in other posts, and now it’s time to put it all together into one coherent process. From start to finish, here are basic steps for flipping a house: