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A Beginner's Guide to Flipping Houses
If you're dreaming of making money in real
estate, it's time to stop dreaming and get
to work, because making money in real estate
isn't just a vague pipedream. It can be done,
even by a young and inexperienced person,
when you learn how to "flip" houses.
A friend of mine, we'll call her Tai, made
a fortune in real estate, beginning at the
age of twenty, with no help from anyone else.
Here's how she did it:
Tai began by buying a HUD repo, which allowed
her to get into the house for no money down.
Then she fixed it up and sold it herself.
At closing, she had made enough profit to
by a second fixer-upper, but this time, she
paid all cash. Tai went right to work fixing
her second house, and when she sold that one,
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she collected profit of
$44,000, which allowed her to pay cash for
her third house!
By now, Tai was comfortable with her formula,
and within a short time, she had flipped her
third house, realizing enough profit to pay
cash for yet another house, as well as being
able to buy the custom pickup of her dreams.
And all of this had happened in the span of
just nine months!
Tai's formula was simple. She located houses
that needed only cosmetic work, avoiding those
that required structural repairs. She did
all the painting herself, inside and out,
and updated the home's lighting, plumbing
fixtures, and carpeting. Once renovations
had been completed, all three houses sold
quickly, and at a significant profit.
Flipping houses is the most tried-and-true
way to make a fortune in real estate, so don't
listen to anyone who tries to tell you that
it can't be done or that you need to have
a great deal of start-up money. That's not
true. You can buy houses with no money down
through various loan programs, and sellers
will often help you with the closing costs.
I know what I'm talking about. My husband
and I bought our 27th house earlier this year,
for no money down, and we expect to make a
profit of at least $100,000 for just one month
of hard work!
But we take the process a step further, making
our houses outshine the competition by also
using Design Psychology, although our buyers
never know that. All they know is that they
feel good when they're in our homes, which
makes them want to buy them, even if they're
more expensive than the house next door.
There's no other business that can make you
as much money, with as little start-up cost,
in as short a time, as investing in real estate.
In fact, more millionaires made their fortunes
in real estate than in any other business.
And you can do it, too. You just have to stop
dreaming and get started.
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