Flipping Homes 101

Want to flip homes but don't know where to start? Well today is your lucky day. Being in the real estate business I have learned the ins and outs to flipping houses and how to become successful doing so. If you are wanting to be successful with this venture, I recommend you start by following these basic steps.

House flipping is buying a home, fixing it, and then selling as quickly as possible to make a profit. If you are looking for a quick profit in flipping homes, first start by doing your research.

1. Research- Research is the most critical part of the flipping process. Do research on the different geographic areas and the homes within the area to find the value once fixed.

2. Network- Networking is the fasted way to get your house flipping business off to a good start. Get to know other investors in your own area!

3. Find Investors- Investors make it easier to get the work you need done completed. Investors can lend you money to purchase the home!

4. Start building your fix and flip team- This is essential to having long-term success flipping houses!

5. Start locating properties- Your real estate agent on your house flipping team is most likely the best resource you can use. Realtors know this business like the back of their hand and can help you become successful!

6. Analyze the deal- One of the best ways to determine the value of a property is to compare it to other sold properties in the same neighborhood! Your realtor can help you do so via MIBOR

7. Make the offer- Place the offer on the home and get it accepted!

8. Manage the rehab process- Just like any business, make sure to stay on top of things. Control your costs and make sure to keep records to be successful!

9. Sell the property- Once you are done flipping the property, have your realtor help you get the home on the market to sell it!

These are some basic tips to becoming successful in the home flipping business. If you have any other questions please feel free to ask!

Elaina Musleh

F.C. Tucker

317-650-5898

ermusleh@gmail.com