Flippin’ over Flips!

With interest rates remaining very low, investors are out looking for properties where they can put their money to work for them and make a profit. One way some are doing this is by flipping properties or the process of finding, fixing, and reselling homes.

The book “Flip” is, in my opinion, the best “how to” manual on the subject (and I’ve read a few). In fact, when I received a call from a friend last week who told me she was looking for her first flip, I told her to get a copy of the book immediately.

As with any money-making venture, there are risks involved in flipping properties. What if it doesn’t sell fast once it’s ready or for the price that was expected? What if the renovations end up costing more (even a lot more) than anticipated?

On the other hand, some investors are very successful with this venture. A friend of mine even quit his job after a couple of years of flippin’ part time because he was making more money with this flips than with his job. He is now a full-time investor/flipper and doing very well.

The best way to approach flips is do to your homework ahead of time and make your money when you buy the property, as oppose to when you sell it. One of the key component of the process is also patience as it often takes time to find the right property at the right price. Again, “Flip” gives you the road map that will help you minimize the risks and maximize your profits.

And so, I am actively looking for properties that offer flip potential for my clients (perhaps even for myself). If you have or know of a property that has flippin’ potential, please contact me today and let’s make a deal!

Originally Posted at: Lafayette Real Estate News