Flipping - Posted by David

Real Estate Investing
#1

Posted by David on June 17, 2001 at 14:29:53:

Donna,

Thanks for the tid bit of info… I suck up Stuff like that like a sponge. =D

I believe my est time was based on a 2-3 thousand dollar profit. which I hope to make more then that, but just an est… :smiley:

I’m not sure if steve got my question. So I’ll re-ask with you.

Would I start an ad generic? can you give me a example… doesn’t have to be what you use… just an example of what would be good wording for what I want to do. Wording is everything in an Ad, correct?

just looking for more info to absorb. =)

David

#2

Flipping - Posted by David

Posted by David on June 16, 2001 at 12:29:53:

Hello all,

I have looked through alot of Websites and spent almost 2 years researching flipping, etc etc. I am Still Overwelmed by everything! Seems so Simple.
1)find seller
2)Sign “purchase agreement”(don’t know if that’s the right term, but it works"

3)Find Buyer
4) have buyer sign your agreement and pay your "finders fee"
5) get money in Average 10-14 days.
6) celebrate!

Now I see hundreds of posts about financing and finding a banks and finding “hard money” and all sorts of odds and ends. After 2 years of research, Still have no idea where to start? What course should I get to start?

Suggestions?

David “confused and motivated to learn!”

#3

Re: Flipping - Posted by Donna, ATL

Posted by Donna, ATL on June 16, 2001 at 18:01:28:

David,

The safest way to approach flipping is to start by finding your potential buyer(s). it is much easier to flip property when you know who you can sell it to. That being said, the hard part is finding deals that are good enough to build a flip deal on. It can take awhile. Also, I have participated in numerous flip deals, and the two things to watch out for is 1. make sure you can flip the deal, or be able to close yourself, and 2. the payoff is more like 30 to 45 days minimum, as your buyer usually has to get a loan of some type, so unless you have an all cash buyer, it takes longer than 2 weeks. Also, be sure your buyer can really buy. I have had them not show up for closing. Not a very pleasant experience!

#4

stop studying start flipping - Posted by SteveS(CPA)

Posted by SteveS(CPA) on June 16, 2001 at 16:04:42:

David,

My friend. You have a case of paralysis of analysis if I ever seen one. You most likely know more than I do. Get out there and do it.

You don’t need anymore information.

Good luck