3 Steps to invest in Fix & Flip Real Estate
Ready for No BS Fix & Flips? What if I show you how to invest OPM (other peoples money) in a Fixer Upper and Flip it for a ROI (Return on Investment)?
Let me ask you this… How do you think its possible that other people are doing it? I’m telling you they don’t all have deep pockets or an investor to make this happen. I have been taught the secrets of the industry and I want to tell you how it’s possible for you too.
I am only a Real Estate Agent. I can’t give you a loan. I can not even help you get one. However, I have a fierce team of loan officers that can and want to help. They’ve taught me so I can show you how easy it can be.
So, here it is. You’ve thought about it, you’ve watched Flip or Flop, Fixer Upper or Property Brothers and thought, they make it look so simple. You know why? Because it is. But, and there is a but… as Chip Gaines says you want to be, “upside right”, on your investment.
Step 1 to No BS Fix & Flip
First, you need to get started with a loan officer that can get you what you need. How about 90% financing on a purchase? That means you only need 10% out of pocket to purchase a fixer upper. Think about $100k property, invested with only $10k. Wait. Before you start thinking $10k isn’t a drop in the bucket. Hear me out. The fix and flip loan offers you 100% financing for rehab too. Are you with me? That means you could estimate another $100k (lets just says) to rehab the property for resale with this loan. When finished, you’ve invested $10k for a $200k property.
More about the Fix & Flip Loan
Check out Residential Home Funding:
Step 2 to No BS Fix & Flip
Second, is the most important. You need to have a real estate adviser who is going to find you the best possible ROI. Don’t purchase a property in a crappy neighborhood and rehab it. You’ll only have a really nice property in a crappy neighborhood that now you can’t sell. Find an agent that knows the market in the towns you’re looking to invest in. I promise you, they’ll sway you in the right direction. A real estate adviser knows whats a hot property and whats not. Ask for market analysis of that town. Ask for similar properties that recently sold. The proof is in the pudding!
Step 3 to No BS Fix & Flip
Third, don’t try to get rich off your new found investment strategy. Even though most millionaires start off investing in real estate, its just the beginning. Remember this, a ROI of $10k in a bank account over 6 to 12 months isn’t going to get you the return of what it would investing in real estate. Don’t be over compensated. Your property is only worth what a buyer is willing to pay for it. Everything has a learning curve. Sell your property, pay back your loan and start all over again.
Finally, No BS Fix and Flips aren’t easy. I’ve seen a lot Go Wrong but its also ended Upside Right!