How To Buy And Flip A House – Your Step By Step Plan

 

 

How To Buy And Flip A House – Flipping a house or condo involves a person purchasing a house at a price less than the market price and then selling this house after a short period at a profit.

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Flipping is different from real estate development investment as you can sell the condo or house when it is not ready for occupancy.

  • By making smart decisions, you can earn huge amounts of profits on each flip.

The following step by step plan reviews the things to consider so that you have the best chance at a huge profit realization.

First and foremost you should purchase the house at a smart price.

  • This is made possible by familiarizing yourself with how to buy a home before the actual purchase.

If you have never bought a home before, you should seek consultation from a real estate agent as well as a financial adviser.

You will need to follow the steps that are involved in the purchase of houses such as…

  • placing an offer,
  • getting a mortgage,
  • removing conditions,
  • and finally taking possession.

Then you should develop a timeline that will guide you on the right time to selling your property.

  • You should note where you expect renovations and regularly review your progress.

Side note: If you don’t want to be troubled with the high cost of repairs, it might be easier for you to make money with “pre construction condo investment”.

click here to see the what I’m talking about

How To Buy And Flip A House (continued)

Fixing the house will help in improving the appearance of the house and making it easier to sell at a higher price.

You should do the important repairs first and then finish with the minor repairs to ensure that the money you have budgeted is well spent.

The final step involves the actual selling of the house.

  • You should first stage the house.
  • This is due to the fact that staged houses sell quicker as compared to unstaged houses.

You should work to make sure the house appeals to many customers. Then you should discuss the sale of the house with all of the potential buyers.

You can advertise the house through the social media in order to reach as many potential buyers as possible.

You must set the selling price at a higher price than your buying price plus any expenses you incurred in fixing the house.

After the sale, count how much money you earned. Then…repeat all of these flipping steps from start to finish and earn more money.

Yes, you can begin flipping houses for a living!

How To Buy And Flip A House – Questions and Comments?

Contact me by phone, email, text message, or you can always try using WhatsApp.

  • Or, click “leave a comment” link below…

Have a fun week and weekend!

Kevin

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Pre Construction Condo Investment Best Tips On How To Invest

Pre Construction Condo Investment is among the safest and long-term investor ideas you can ever think of. Discover these secrets and become a real estate guru.

Pre Construction Condo Investment in Homes For Sale Florida photo image
Invest in Construction at Metropica Homes For Sale Florida

There are a variety of gains attached to buying a pre construction condo; you may talk of acquiring a property with a low amount of about 5% down payment, in some cases the property value might appreciate before completion of the project among other benefits.

Pre Construction Condo Investment

…is subdivided into different categories…

  • primary residential/luxury
  • second home markets/investment

Here are the best tips on how to invest in Preconstruction Real Estate.

1. Assess the market area you’d love to invest

This aspect should be guided by your objectives of investment. The main determinants to look at are your personal goals, needs, what you can afford and what real estate financing options are available for purchase. All these should favor your desired standards.

2. Seek help from a real estate agent

There are professionals dealing with Investment/Second homes and luxury Preconstruction Real Estate investment. When in need of either real estate professional, these experts will help you to evaluate the opportunities currently available that you’d have probably not seen when alone. They might further give you advice on what deal is better.

3. Find Preconstruction Builders

Be sure to visit or contact pre construction builders to select the most appropriate project. You should work together to ensure that the selected choice can suit both parties. Most importantly, ensure the project meets all your needs.

click here to see the home I’m talking about

4. Select your project

This is the most critical segment. This is the reservation phase and it ranges between the first 3 to 6 months. It is also the pre-selling phase and the buyer is required to sign a contract.

5. Review and complete the purchase contract

A sales contract has to be signed. The requirements involve a refundable deposit from the buyer; in most cases it’s tabulated at 10% of the buying price. The contract is highly flexible in that, the buyer can decide to cancel the deal or not. However, it cannot be terminated when the payment exceeds 70% of the acquisition price.

Each new Pre Construction Condo Investment project is different and the terms for getting a refund on your deposit may be different…be sure to ask questions about this.

6. Review the documents with your accountant or lawyer

The buyer is given approximately 15 days to review his documents after closing the deal. Within that period, he/she may wish to terminate the deal or go on with it. Your lawyer or accountant will be of help at ensuring the set measures as per the agreed agreements have been met. When all is confirmed to be right, you’d be free to move to the next step.

7. Close the Contract

The buyer will be required to give 20% of the buying price amount. This will be less the paid deposit and it should be 18-24 months after submitting his/her hard contract. The period however depends on a country’s Preconstruction Real Estate Policies.

8. Close the deal

At this stage, the buyer will be offered a Certificate of Occupancy. By then the project would have been completed or about to be finished. The investor will be free to examine the asset and if he/she is satisfied, the deal would be set for closure. The balance would also be agreed upon in terms of completion.

Real Estate investing requires smart strategies to do it right. In the question of how to do Pre Construction Condo Investment the right way, the above guidelines and Metropica Homes For Sale Florida are a good place to start.

Comments or Questions

If you have any comments or questions about buying a pre construction condo or about other Florida homes for sale, please feel free to contact me today

I’m always available to help you and your family experience the joys of homeownership. Have a great week!

With regards,

Kevin

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P.S. Here’s more general info about pre-construction.