26 Apr
Using the Time Tested Methods for Flipping Houses and Assigning Options
Posted in Random Thoughts by MichaelThere are other descriptions that people talk about for flipping. Some mention it as actually purchasing a property, then quickly renovating it to resell it. This is an option you can implement but there are also a lot of other financial risks that can be a concern, particularly in down or declining real estate markets.
While we talk about flipping, we are talking about controlling houses inexpensively and then assigning (or flipping) them to another buyer for a speedy profit. So when, So while we refer to real estate wholesaling, we are basically referring to finding properties cost effectively and assigning them cost effectively to another person or rehabber; thus the term wholesale. For additional explanation on jargon, when you assign a property to another person, this just means you are providing the right to them to close on the house directly from the seller.
After you get a property under contract, you will have control. Then you can flip it to another investor at a higher price or for a flat fee so they can close on it. They take your place in the option, then close on the property, handle fixing it up and either keep it or sell it to an end buyer for a larger price. A method like the one developed by Matthew Sorensen for real estate investing is a great no risk strategy to create fast money using little or no credit or other financing techniques.
Since you have neither of these limitations you can also do as a many as you want making real estate wholesaling a great cash flow system especially once you have a constant system working for your business!



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