Four Ways To Flip A Property

Buying, Fix and Flip

This process involves in the process of buying a property that needs to work, fix it up, then have to sell on the “retail” market, that is, to a person who will live in the property. The danger in fix and flips is due to paying too much or underestimating repairs. Be very conservative in your fix-up costs and the time take to resell.

Buying, Refinance ,Lease/Option

Rather than selling the fixed up property , sell for terms. After the rehab, refinance the property as new appraised value. Sell the property on a lease with option to buy. The rent payment from your tenant/buyer should cover your mortgage payment

Buy , Flip

Consider selling the property as it is as a light fixer upper. If the local real estate market is hot, you should sell the property in poor condition . This is especially the case with houses in transitioning neighborhoods. Make sure, of course, that you acquire the property sufficiently cheap enough that you can sell it below market quickly and still profit.

Wholesale|

Avoid wholesale to another investor. Put under contract and assign your contract wholesale to someone else who will pay you a few grand for the flip.