| You see a lot of articles and books about how to | | | | double-escrow the property to a home buyer who |
| make money "real estate flipping." Perhaps you're | | | | wants to live in the home. |
| heard radio or television news reports about the | | | | 2. Find a seller under stress with a bargain property, |
| illegalities of flipping real estate. Maybe you've seen the | | | | secure a sales contract, and sell your contract for |
| late-night infomercials promising you easy overnight | | | | roughly $500 to $5,000 to a seasoned real estate |
| fortunes. | | | | investor without financing or taking title. |
| What's the truth about making money flipping real | | | | 3. Buy a fixer for a bargain price, fix up the property, |
| estate? | | | | and sell for full market price. |
| First, real estate flipping isn't illegal. Because some | | | | You can make money flipping real estate without being |
| dishonest real estate investors conspired with deceitful | | | | dishonest or unethical. But first, you need to: |
| mortgage brokers and property appraisers, their | | | | 1. Get your credit in order to finance quickly. |
| stories made "good news" for newscasters who love | | | | 2. Study your location so you know what properties |
| to grab attention with "Investors Scam Banks and Bilk | | | | sell for. |
| Buyers out of Millions!" sound bites. True, some | | | | 3. Learn how to negotiate with sellers under stress. |
| investors defraud mortgage lenders and/or desperate | | | | 4. Find a good closing agent. |
| home buyers. Cheating investors hyped up property | | | | 5. Learn how to fix houses or find good professional |
| values, helped home buyers tell untruths on mortgage | | | | help. |
| applications, and conned banks and buyers. | | | | 6. Learn how to sell your property or find a great |
| On the other hand, ethical real estate investors make a | | | | selling agent. |
| lot of money real estate flipping. There are many | | | | Before you jump into flipping real estate, do your |
| ways to make money flipping real estate: | | | | homework. Copy other successful real estate |
| 1. You can help home sellers in foreclosure save their | | | | investors who make money flipping the honest way. |
| credit by arranging a sale of the property and never | | | | Copyright © Jeanette J. |
| even take title. In other words, buy the property and | | | | |