The competition in the real estate market is stiff, especially if you are in the business of flipping houses. Active flippers are one step ahead of the game. The challenge faced by house flippers is finding a flipping worthy property. As time passes by, flipping houses has become even more challenging than before. This is because the number of distressed properties gets fewer. On the positive note, you can make an enormous amount of money by flipping houses. The number of potential buyers continues to rise as time passes by.
Real Estate Investing Tools
As a savvy real estate investor, you need to be creative when it comes to finding a house flipping worthy property. With the advancement in technology, anybody can now check online directories for a list of properties for sale. Aside from taking advantage of the internet, you might also want to consider sending a direct mail to homeowners. Create your database and contact via snail mail homeowners who will potentially sell their property. There are also helpful tools like a house flipping spreadsheet, which can really help you with your profitability. This is probably the best spreadsheet for flipping houses to calculate and manage all costs.
How to build a reliable mail list?
You will come along homeowners who are more than willing to sell their property. To increase your chance of finding a homeowner who wish to offload their property, choose the ones who have owned the property for more than seven years. Why? Well, the property is quite old and need much improvement. You can purchase the property at a low price and after a thorough renovation, you can significantly increase its value. This will result to more profit on your end.
How effective is direct mailing?
You might be surprised to find out that there are a lot of homeowners considering of selling their house. However, the processing and selling cost somehow puts them off. Through direct mailing, sellers will be enticed to sell their property because they no longer have to deal with the selling process on their own. Aside from direct mailing and checking the web directory, there are other creative ways to watch out for house flipping worthy properties. In fact, you can come up with your own strategy. It might take a while before you will know which strategy to use, but as you go on in this business, you surely will be able to master the ins and outs of the house flipping business.
Creative investing with Scott Yancey
Learn how to invest in the real estate business the creative way by following Scott Yancey. He conducts real estate training to people who want to make it big in the business. Attend in the Scott Yancey event and watch his TV show, Flipping Vegas.