Posts tagged: flip
Flip Houses VIRTUALLY!
By DIY Maven
Shockwave launched a new game yesterday called "House Flip". The object of the game is just as it sounds. You buy houses, fix, clean or update them and then sell them for--hopefully--a profit. After receiving a link to the game, I spent about an hour playing it, and I must say, it's hilarious and completely addictive! » READ MORE
1Before and After: A Contemporary Remake in Utah.
By Chrisjob
Friends, the photos speak for themselves...
Top 10 Tips for Flipping a House
By sofkinsBuying, renovating and selling a house for profit, known as house flipping, is the latest buzzword in real estate. There is no magical formula to ensure success at flipping houses. However, there are essential tips to help investors earn more money.
1. Do not get emotional about house flipping. It is after all a business. If the numbers do not work, proceed to the next property. Some investors commit the mist » READ MORE
My first flip
By sofkinsHere's is my story. Finally, I found a "motivated seller". I negotiated a lower price and wrote an offer in ONE day. The seller didn't want to sign my contract because he was getting calls from investors while I was sitting in his living room. I told him either we do the deal now or I walk away...he signed and I gave him a hundred dollar bill. Funny thing is that I almost lost this opportunity when I answered the call. I received the cal » READ MORE
A Beginner's Guide to Flipping Houses
By sofkinsIf 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 all » READ MORE
How to Flip a House in 90 Days: Final Flipping Notes
By DIY MavenBefore we get to the happy ending, we should really discuss how to stay out of jail while undertaking a flip.
Notes on Owner-Occupied versus Non-Owner-Occupied
If you buy a house, move into it and remodel it, you can do all the work yourself–including all the electrical and plumbing. However, if you buy the house on spec, meaning you speculate on its resale, and do not occupy it, as we did with our flipper, you must comply to state codes. This is b » READ MORE
How to Flip a House in 90 Days: The B & B’s
By DIY MavenIf you’ve been following this post, you’ve probably guessed that we hired out very little work. We did, however, hire a few tradespeople along the way.
People, People Who Need Trades-People
Time being money, we chose to hire a sheet rocker who was able to hang 50 sheets of rock in the basement in eight hours. An impossible feat for most DIY’ers. We also hired a taper. Although we employed this fellow to get the job done fast, we also wanted it » READ MORE
How to Flip a House in 90 Days: Construction Continues
By DIY MavenAs we covered approximately 2000 feet of molding and 20 six-panel composite doors, it was was necessary to employ several tricks to keep our sanity.
Painting Tips That May Prevent Insanity
Since we had removed the baseboard moldings where we were going to install the hardwood floor, we were able to paint the walls with little taping. Before re-installing the unpainted moldings, we cut 6 inch strips of poly sheeting and tucked that behind th » READ MORE
How to Flip a House in 90 Days: Getting Started to Demolition
By DIY MavenThe short version:
Find the money to buy a depressed property in a great location, and then work your behind off.
The long version:
In our case, we exercised a line a credit against the equity in our home to come up with the funds. That only provide for half of what we needed, so we found a guy with cash who was as crazy as we were with whom to partner. We hired a lawyer to draw up an LLC to protect us, financially.
Don’t let the picture of this cu » READ MORE