How flipping properties works!
Step 1: Find a destroyed property for sell in a decent neighborhood.
Step 2: See how much nice properties are selling for in that area.
Step 3: Get an estimate on the repairs that you are planning to do.
Step 4: Do the math to see what your profit is going to be after you pay all the expenses.
Step 5: Sell the house and start again!
Things to have in mind when flipping a property!
Look at the market to see how it is doing. If similar flipped properties last only a couple of days in the market, it is a good sign.
Properties in the median range or below will sell faster as they will have more demand--not many people get approved to buy expensive properties..
Let me help you with your first flip! I have been doing it for over 9 years!
