All respond! Question about flipping houses. - Posted by J Stamps

Real Estate Investing
1

Posted by J stamps on July 29, 2007 at 21:26:54:

Could you please share details about a flip you have completed were you just signed the deal over, if you have completed any.
It is encouraging! I have read the success stories in this site more than you can imagine (you would think I am crazy if I told you how many times I read each one).

So if you have anything post it because I would love to read it.

Thanks

2

All respond! Question about flipping houses. - Posted by J Stamps

Posted by J Stamps on July 29, 2007 at 21:22:20:

I’ve read tons of articles and the most popular books on flipping properties.
Is it really that easy? Just place an ad, find a good deal, research the property and sell the agreement over to another investor?
What important steps are missing?

and…

How do you avoid doing a title search on each property, could this be accomplished by going to the court house and researching it yourself and let the investor get the title search done?
Going to flip a few houses, regardless of the market, I need some money. Will post my results, and any problems of course, so everyone could help me. :slight_smile:

Thanks,

Any information will be gladly acknowledged.

Thanks again

3

Re: All respond! Question about flipping houses. - Posted by Sgt.Sausage

Posted by Sgt.Sausage on July 30, 2007 at 07:39:18:

> What important steps are missing?

(a) find a good deal
(b) sell the agreement over to another investor

You named 'em. Those are where you’ll have problems. Finding a good deal to buy into and finding a good deal for selling out of. It’s a few simple words that are quite easy to type (you’ve already done that). The hard part is making those two happen in the real world. The rest is gravy. If you can nail those two then you’ve got it made.

4

Re: Find a Good Deal - Posted by Jack

Posted by Jack on July 29, 2007 at 21:47:20:

If you are going to flip it to a real investor, it better be a GREAT deal, because most full time investors are going to want a solid $20,000+++ net profit after subtracting all costs. There are not that many GREAT deals out there, it takes some experience to recognize a GREAT deal, but it takes five times as much experience to quickly recognize what isn’t a GREAT deal so you don’t waste other people’s time, and twenty five times as much experience to rapidly screen deals so you don’t waste your own time.