Easy Property Selling

Flipping house is just as good in a recession as in other times. The only difference is the rules might change a little and you have to alter your business plan to accommodate a different way of doing things.

You have to continue to educate yourself in whatever business you decide to go into flipping properties is no different as the way you do business might change. So we read the various books published by those that are in our business as well attend seminars that discuss our business. We also belong to professional real estate groups in our local area.

You still have to make the best deal going in as this will determine if you are gonna make a profit or not. Make the wrong deal up front and it matter not what condition the economy is in you are gonna lose.

All properties you might run across are not good deals, so you have to weed them out. Stay with a proven game plan no matter what the property look like or is located. Don’t go outside your comfort zone.

We have found that since this is a buyer’s market we reduce the sale price a few thousand dollars to accommodate the buyers and in some instances we might carry a second mortgage.

When the escrow close or at escrow closing we sell the second to a note buyer to maintain a cash flow. We also, at times, have to discount the note. But again you make your profit by making a great deal up front.

For income tax purposes you always need a tax write off so our game plan is to always keep 1 out of every 4. Over time this will give you a cash flow and a great tax write off.

I hope this is of some use to you, good luck.

“FIGHT ON”

Loan Til Payday