Synopses & Reviews
- Evaluate properties with an eye for flipping
- Calculate a purchase price that maximizes your ROI
- Focus on repairs and renovations that will give you the most bang for your buck
The definitive guide to making money by flipping houses
Thinking about flipping? If you’re interested in the idea but are skeptical about others’ claims that making money flipping houses is easy and risk-free, this book is for you. This updated edition of Flipping Houses For Dummies takes a fun yet no-nonsense approach to giving you savvy strategies for negotiating deals, modernizing properties for maximum profit, marketing your home, and much more — without losing your shirt.
- Laying the foundation — find out if you have what it takes to flip houses, devise an effective strategy, build your dream team, and secure necessary funds
- House hunting — find great neighborhoods to work in, get trusted advice on how to pick the perfect house, and get the scoop on foreclosures
- Crunching numbers — make every dollar count with time- and money-saving tips, get the lowdown on mortgages, and make spot-on profit projections
- Fixing up your fixer upper — discover quick makeovers that give you the biggest bang for your buck, from improving curb appeal to renovating kitchens and bathrooms
- Cashing in — get proven negotiating tips to close deals faster and maximize your profits
Open the book and find:
- How to put together a solid flipping strategy
- The best methods for securing funding
- The skinny on house hunting and neighborhood scoping
- How to close in on great deals with foreclosures
- Details on crunching numbers and evaluating properties
- How to make smart decisions about repairs and renovations
- Techniques for negotiating the sale of a home
- How to keep track of taxes and technicalities
Synopsis
This new edition of
Flipping Houses For Dummies gives would-be flippers everything they need to know to get it, get the job done, and get out – all while maximizing profit. Updated content includes:
- Negotiating strategies to close deals faster
- Mortgage myths in this new economy
- Time- and money-saving tips for making every day and every dollar count
- New strategies for scoring bank-owned and foreclosed properties
- Quick makeover solutions on everything from curb appeal to kitchens & bathrooms
Synopsis
Not just another house flipping bookYou can find plenty of books about flipping houses that claim "anyone can do it." Flipping Houses For Dummies takes a different approach—honesty. We don't claim that flipping houses is "easy" or "simple" or "risk-free," because, quite frankly, it isn't.
Flipping Houses For Dummies reveals the risks and rewards of flipping properties; helps you determine whether you have the time, energy, cash, and other resources to be successful; and then conveys the expert knowledge that those who wish to pursue house flipping need in order to minimize risk and maximize potential profits in a very competitive market.
- Negotiating strategies to close deals faster
- Mortgage myths in the new economy
- Time- and money-saving tips for making every day and every dollar count
- New strategies for scoring bank-owned and foreclosed properties
- Quick makeover solutions on everything from curb appeal to kitchens and bathrooms
Flipping Houses For Dummies provides plenty of examples of successful and not-so-successful property flips, presenting the total investment (in time and money), the work involved, and the net profit. If you're ready for hard work and big profits, start flipping!
About the Author
Ralph R. Roberts is a master at flipping houses, earning a profit even in the depressed real estate market in Detroit, Michigan. Roberts is recognized nationally for his success in real estate, particularly in the field of foreclosures. Joe Kraynak is a freelance author and writing consultant who has written and coauthored numerous books on a wide range of topics. He is a valued partner and advisor to many For Dummies authors.
Table of Contents
Introduction 1
Part I: Laying the Foundation for Successful Flipping 5
Chapter 1: Wrapping Your Brain Around the Idea of House Flipping 7
Chapter 2: Do You Have the Right Stuff for Flipping? 19
Chapter 3: Devising an Effective Flipping Strategy 31
Chapter 4: Building Your Dream Team 41
Chapter 5: Securing the Funds to Fuel Your Flips 57
Part II: House Hunting with an Eye for Flipping 79
Chapter 6: Scoping Out a Fertile Neighborhood 81
Chapter 7: Hunting for Houses in Your Target Area 95
Chapter 8: Closing In on Foreclosure Properties 107
Chapter 9: Scoping Out Properties in Special Markets 127
Part III: Evaluating Properties and Crunching Numbers 141
Chapter 10: Researching Distressed Properties 143
Chapter 11: Inspecting the Property and Estimating Rehab Costs 161
Chapter 12: Calculating Your Profit and Maximum Purchase Price 177
Chapter 13: The Art of Haggling: Negotiating a Price and Terms 187
Part IV: Fixing Up Your Fixer-Upper 205
Chapter 14: Prioritizing and Planning Your Renovations 207
Chapter 15: Giving Your Property a Quick Makeover 221
Chapter 16: Perking Up the Curb Appeal 235
Chapter 17: Dazzling the Crowds with Updated Kitchens and Baths 251
Chapter 18: Tackling Moderate Makeovers 265
Chapter 19: Reconfiguring Spaces and Other Structural Overhauls 277
Part V: Cashing In: Realizing Your Profit 289
Chapter 20: Considering Your Options: Cash or Cash Flow ? 291
Chapter 21: Marketing Your Home 303
Chapter 22: Negotiating the Sale to Maximize Your Profit 317
Chapter 23: Trudging Through Some Taxing Issues 329
Part VI: The Part of Tens 339
Chapter 24: Ten Ways to Find Dontwanners 341
Chapter 25: Ten Signs of a Great House-Flipping Opportunity 347
Chapter 26: Ten Common House-Flipping Blunders 351
Index 355