I want to get into house flipping, but I need to know where to start. Which books do you recommend?
2006-09-10 21:16:49 · 7 answers · asked by munkees81 6 in Business & Finance ➔ Renting & Real Estate
Here's a very good book for someone just getting started:
Flipping Houses by William Bronchick and Robert Dahlstrom
This book makes the differentiation between the "dealer" and the "retailer". Many define flipping according to those flavor of the month tv shows, where people buy a property, make some renovations, and then try to resell it quickly before they lose their shirt. In today's market, that can be risky if you are inexperienced and do not negotiate a GREAT deal up front. So, that brand of "flipping" is what the "retailer" does.
A less risky proposition in today's market is starting by being a "scout" or a "dealer". A dealer is someone who locates potential rehab-to-resell properties and negotiates a good up front deal and contracts for the property. The dealer then shops this to retailers and makes his/her profit when the retailer takes over the deal. The dealer typically doesn't have to secure loans or even take title; he/she just collect his/her profit once the retailer settles with the seller.
Good luck!
2006-09-11 05:05:02 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Flipping Houses Books
2016-12-12 18:07:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Books On Flipping Houses
2016-10-28 14:34:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
This Site Might Help You.
RE:
What is the best book on house flipping?
I want to get into house flipping, but I need to know where to start. Which books do you recommend?
2015-08-16 20:58:01 · answer #4 · answered by ? 1 · 0⤊ 0⤋
Unlike stocks, one can not "sell short" on real estate properties to gain profit. House flipping only make money when housing market goes up. Since U.S. housing market continues to slump, may be house flipping isn't a good idea anymore.
http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
Try this book, it is a good investment book.
A Random Walk Down Wall Street.
Good luck!
2006-09-10 21:54:52 · answer #5 · answered by Price is what you pay for value. 3 · 0⤊ 1⤋
Right now, the market most places in the country will not support profitable flipping. Truthfully, I don't even want to talk to flippers right now. Families, fixers, and investors are going to do extremely well buying right now, but not flippers, because as soon as they've bought, they become one of the 38 sellers for every buyer. I get a lot of resistance to this message from those who've become addicted to making $50,000 in a few months due to bigger fools, but if you want to make a profit from this market, you're going to have to hold onto them for a while.
2006-09-11 03:29:13 · answer #6 · answered by Searchlight Crusade 5 · 1⤊ 1⤋
take a realty class. It's a tough business that really depends on who you know to get great deals when you update the house.
2006-09-10 21:19:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Whoa. If you want to do that, I imagine you'll need to start seriously working out---unless you have a lot of strong friends. (And be sure no one's actually in the house when you flip it.)
2006-09-10 21:22:54 · answer #8 · answered by Ander 3 · 0⤊ 3⤋