How to Successfully Flip Homes in San Diego
How to Successfully Flip Homes in San Diego!
You heard about investors who flip homes, and you would like to that as well, but don't really know how?
Here are 8 Steps to Flipping Homes in San Diego:
1) Open an LLC > Consider your personal risks involved, you don't want your personal assets to be liable.
2) Have Cash > There is a lot of competition out there, you have to come in with a smart, strong offer on the right deals. Cash is king.
3) Find the right Realtor > Work with a Realtor you can trust and who brings you the deals that work, you will not make money with somebody who doesn't know what they are doing.
4) Find The Right Contractor > Having a good quality house is key, but the good quality shouldn't come with a high price tag. You have to find a Contractor who can bring you great workmanship who sticks to the budget.
5) Do The Numbers > The goal is 12.5% return, sometimes it will be 15% and other times 9%. Consider all costs involved, for example, purchasing the property, remodel /construction costs and selling costs. Your aim is to end up with 12.5%, so that would be $62,500 profit if the sales price of the fixed product was $500,000. There is a lot of money to be made in this industry if you team up with the right people and make smart decisions.
6) Don't Get Greedy > Don't bite the hand who feeds you. Negotiation once Escrow opens isn't a good idea, banks and sellers won't appreciate it and you don't want to get a bad reputation. . Don't try to squeeze your Realtor, they make you money, don't save you money. .
7) Do The Research > Make sure you have comparables for your finished product / as completed value of the home you will be selling. Don't assume, have data!
8) Have Financing Options > Some lenders have big issues financing flips. Have a contact ready who can jump in and close your deal, in case there are issues with financing, the last thing you want is to tie up your cash flow. You'll need to quickly close and use your principle and profit towards your next investment.
Do you want to make money in this market? Look no further, I worked with investors for the last 2 years and learned from their mistakes, so we don't make the same ones. I can show you a portfolio of properties, and how it is done. I have a consistent track record with making a profit (over 1 million dollars) of 15% or more with a quick turn around.
Feel free to give me a call (760) 805 9336 or send me an email firstname.lastname@example.org , if you'd like to meet to discuss options. I have all the numbers and contacts to get you started today.
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