Real Life Flip this House and financing

Monday, July 04, 2011

Update and new projects

While it has been slow, our group just sold a house at less than we had in the house.
Due to holding time and paying too much on the front end this one was a loss.

There is a point here. It is said you make your money the day you buy. We thought we could go up to 75% on this one because the area was getting lots of activity (showings, solds...)

Go with your gut, stick to 65% of ARV as your investment maximum.

Some things we could have avoided and tips to make a faster close:

1. paying too much, there is always another deal. We should have passed.
2. Watch the average % discount off original asking price in an area.
3. What are your buyers alternatives (another similiar area, another house, ..)
4. Buyers today truly want steals and deals. Buyers want new houses for price of old ones, be prepared on how to show, position and market your renovations and upgrades.
5. Buyers are relying on thier realtor, make sure you communicate any repairs made, things that may be needed, be flexible.
6. Make sure house is clean , no need in turning off buyer upon first look.


While flipping is slow, we are looking for another deal and still are very active in financing other investors flips and investments.

www.texasrehabloan.com

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8 Comments:

Blogger Unknown said...

This is great information when flipping a house it can be easy to make money and help things go more smoothly. I had some good successes when I was flipping Encinitas Houses money was made!

9:02 AM  
Blogger Haroldynne Rannels said...

Hello - I am with a company called Olde Good Things. We are looking to invest in flipping deals in TX. Can you email me or call me or leave me your phone # so I can talk to you. WE want to partner.

Thank you Haroldynne Rannels
347 231 7420 cell

10:26 AM  
Blogger Haroldynne Rannels said...

Right now we are looking for investments in Houston but are also starting to look for people like you in Dallas.

10:28 AM  
Blogger DPS said...

Too bad you didn't profit on this one. Hopefully you'll do better on the next one.

Dirk Smithson
http://www.lenderscompete.net

7:46 AM  
Blogger Maggie Lowe said...

Tips you have suggested were truly beneficial as I cleared lot of my doubts. I think whether you are buying any mortgage or refinancing your property, mortgage brokers are good options to have as they can save you from a lot of headache and works fully in your favor.

Mortgage Brokers Toronto

3:07 AM  
Blogger HOUSE FLIPPING said...

I am also a Flipper in Dfw.. I have 4 going on right now. I would only do this being on the front line. I buy my own deals. I get paid 3% up front, fix and save 3% on the back.. It can really make the difference

7:23 PM  
Blogger strat said...

You just have to work on it very hard. And good results will come.
business loans

11:23 PM  
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8:46 AM  

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