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HOUSE FLIPPING: A BEGINNER'S GUIDE FOR SUCCESS

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Flipping a house means buying a home with the intention of fixing it up and selling it within six months for a profit. Americans flipped 26,947 single-family homes in Q3 2014, accounting for 4 percent of all home sales in that period, according to real estate data firm Realtytrac. The average gross return for investors was $75,990 per home, up 2 percent from Q2. Flipping houses can be profitable, particularly when home values are rising and interest rates remain at historically low levels. The Federal Housing Administration stopped enforcing anti-flipping regulations—which prohibited insuring any home for less than 90 days—in 2010. If you're looking to get into the home flipping business, follow these four guidelines for the best chance of success. Build a Bankroll Everything in life requires money, and house flipping is no exception. You could take out loans to buy properties, but then you are just creating debt in the hopes of making money. A smart house flipper who w...
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Buying A Home In A Cooling Market

Is now the time to buy a home? We have heard the buzz about the housing market and how the boom phase is almost over. But, if you play your cards right, you can still make out with a really sweet deal. For investors, rock bottom housing prices would be a dream come true but a good solid deal is better than no deal at all. Whether you are looking for a home or an investment property? Here are some suggestions to get more for your money. Stay up to date With a transitioning housing market it is important to understand what is going on in the marketplace. Ensuring that you have the most correct and updated information is paramount because: 1) you can save thousands on the deal and 2) in the event of a negotiation stalemate you will know when and how much to give in. Jump on a good deal Although it may not be a housing boom as recently experienced, a correctly priced home will draw buyers to the door, so be the first one there. Don't wait too long; hoping the seller lowers the asking ...
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9 home repairs to complete before negotiating a sale

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There’s something that I see generated in almost every transaction — a list of repair items found during due diligence inspections that buyers would like completed before closing. This can cause heartaches for sellers, who have negotiated their best deal and then feel “put upon” because they’re being asked to make repairs to close the sale. Read Article
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Estimated closing costs for sellers -buyer getting a conventional loan

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4 Things You Should Never Do After You Get Pre-approved For A Mortgage

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You've done the work to clean up your credit score, scrape together a down payment and pry a preapproval letter from your mortgage lender. Cheers! Getting preapproved is a smart move, especially in a seller's market characterized by tight inventories and, in some regions, bidding wars. Having a lender's letter in hand signals to sellers that you're a legit buyer whose offer merits serious consideration. Even so, a preapproval letter is just a conditional commitment. It can be withdrawn if your financial situation changes in a way that makes your lender nervous. The best advice? "Maintain the status quo," says Scott Schang, branch manager at BuyWise Mortgage in Anaheim, California. There are a few surefire ways to get rejected after you've been preapproved. Among them: Quitting your job There's nothing wrong with leaving a job to take a similar or better-paying position at another company, so long as you remain a full-time employee who get...
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