The Unofficial Guide to Flipping Properties

Product Details

The inside scoop...for when you want more than the official line!

Perhaps you've seen TV shows on flipping and thought, "I can do that." Maybe you're tempted by the lure of easy profits. There is money to be made by flipping residential properties, but there's risk involved, too. This book helps you get started or improve your flipping skills (and your profits) with info on finding appropriate properties, financing your purchase, making improvements that will pay off, negotiating with contractors, and more. Whether you're interested in undertaking only cosmetic improvements or in totally gutting a property, this guide helps you with everything from choosing and redoing the right house or condo to selling it for maximum profit. With tips from experienced flippers, it includes:

• Vital Information on finding and financing the right property.
• Insider Secrets on using and leveraging someone else's money.
• Money-Saving Techniques such as refacing or painting cabinets and updating the hardware.
• Time-Saving Tips such as consolidating your purchases (appliances, materials, tools, etc.) at a home improvement center.
• The Scoop on staging a property inside and out for maximum impact.
• Expert Advice to help you assess a property's profitability, set and monitor your budget, and more.

Biographical Note

PETER A. RICHMOND is a Realtor with Pacific Union Real Estate in Mill Valley, California. He has worked in real estate for 13 years, following a 25-year career in international banking and finance that included assignments to Germany, England, and Pakistan. Peter represents clients in both residential and commercial real estate, working with his wife, Jane, at Pacific Union. He is a member of the Allen F. Hainge Cyberstars and is a recognized expert on the purchase and sale of foreclosed properties.

Table of Contents

• About the Author.
• Introduction.
• I Initial Decisions.
  • 1 Establishing Your Goals.
    • Should you flip?
    • Assessing profitability.
    • Non-flip real estate investments.
    • Calculating ROI.
    • Using someone else