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San Diego downtown real estate broker

Bob Schwartz, CRS, GRI 

Certified Residential Specialist

 


 

 

San Diego, California 92101

Telephone - Cell:
(619) 300-8819

Facsimile:
(619) 229-0048
E-mail:

 brokerforyou@gmail.com

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Flipping a House For Cash


A lot of people these days are advocating the buying and holding method of gaining wealth with real estate. There indeed may come a time in your life or business when youíll want to hang onto a piece of property, although youíll only be interested in keeping certain types of property. If youíre just starting out, flipping a house may be an ideal way to get started.

Mainly, there are three methods to flip a house, although each one has itís own terms, motivation, and type of property. The first method is known as retailing. What this means, is that you buy a house in bad shape, do the repairs to fix it up, then turn around and sell it. There are a variety of houses in need of repairs out there, and several ways that you can quickly flip a house to net profit. All you need to know are the techniques that will get you the most money in the least amount of time.

The second way you can flip a house is by wholesaling. Wholesaling involves discovering a home for sale then flipping it to an investor for a fast, yet small profit. To do this, youíll need to know the real estate investors in your area, the types of homes that flip the best, and how to fund your property so you can flip it to them. If you live in a big area or a city, youíll find that using the wholesaling method of flipping houses is actually easier to accomplish.

The third way to flip a house is by assigning the purchase. With this method, youíll be required to buy the house. Instead of closing the deal yourself, youíll assign it to a real estate investor - of course for a small fee. The investor will take the contract over and close the purchase themselves - flipping the house. This can be very profitable, especially if you invest in the right home. You donít need to have your contract worded any special way to be legal, although you will need to determine the assignment fee.

If youíre looking to burst into the real estate market and make big bucks, youíll need to find out all about flipping houses. Flipping houses is very profitable, especially once you have learned the basics. The first and third methods are the best, although they will both take quite a bit of work on your part. Restoring homes isnít easy, and youíll need to have a team qualified to handle any repairs. Assigning the purchase may be difficult when you first start out, although it will get easier with time. If you stay at it and do your best to make a profit - youíll be an expert at flipping homes in no time at all.


ABOUT THE AUTHOR

 

Bob Schwartz, is a Certified Residential Specialist, CA licensed real estate broker with www.Brokerforyou.com. Bob has over 27 years of residential real estate experience, authored a number of published articles and served as an expert witness for San Diego lawyers. You can contact Bob via e-mail at bob@brokerforyou.com or visit his highly popular San Diego real estate website at: http://www.brokerforyou.com
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