Making $30000 a month flipping houses seems easy on the surface, you find a house that’s has good investment prospects, you buy , you make a few renovations and Voila!! you sell for a profit. Watching flipping shows on TV and actually flipping houses in practice are two different things, one is the dreamy Disneyland, and the other, the wild wild west. Be quick to note that house flipping is different from real estate wholesaling, house flipping is buying houses, obtain permits , negotiate with contractors to help you renovate, and sell the houses, each process having its own dynamics and hacks. Making $30000 a month flipping houses is not impossible, it is not a easy task but it is entirely possible. It takes grit, the proper tool and research, a team and most importantly money (ironic how you need money to make money).
Making $30000 a month
Flipping houses is not as easy, it goes beyond changing floorplans and making fancy design choices. Making $30000 off flipping houses is not impossible or difficult but here are a few hacks:
Prepare Your Financing: Try and prepare a pool of people you can get money from, friends, family and lenders.
Find deals: The biggest part of flipping is finding good deals or properties to flip. It takes a lot of work to find good deals and that is where need to skip comes in, Need to skip offers exact solutions to help you skip trace motivated property owners and off-market deals that are not listed.
Contractors: They affect the quality of the fixing and renovation you do on the property. Build relationships with contractors over time that will fix with your best interests at heart.
Oversee and coordinate the repair process: Liaise and work hand-in-hand with your contractors to make the ‘fixing’ process a hit. You don’t necessarily have to micromanage your contractors but it might be good practice to oversee to ensure that deadlines are being met and that no mistakes are being made in the process.
The final part of the fixing and flipping trick is selling the property. You might list the property on a multiple listing service (MLS) or leverage your network.
Finding the right deal
We firmly believe that the success of any fixing and flipping effort lies at the root of the transaction which is the property. You have to ensure that you’ve done extensive research on both the neighborhood, state taxation laws, common practices within the location of the property, permits that would be needed for you to fix the property, lenders’ rates amongst other considerations.
The principal rule here is finding a deal so good that after removing the amount spent on fixing, taxes, permits, and other ancillary payments, you are still able to cut yourself a profitable slice of the pie.
Without mincing words, real estate skip tracing is a viable path to unearthing and securing deals that have minimal competition, the potential for high return, and checks all your investment boxes. Upon unearthing the deals, you might want to consider using a deal analyzer tool to review the merits of each deal or property purchase.