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the book on flipping houses: how to buy, rehab, and resale residential properties book review

by Mac Schuppe Published 2 years ago Updated 1 year ago

What is house flipping?

Jan 17, 2019 · In The Book on Flipping Houses, expert real estate fix-and-flipper J Scott details a step-by-step plan to succeed in your first—or next—house flip. This revised edition of the bestselling book includes new explanations on the ins-and-outs of flipping real estate in any part of the economic cycle, more options on how to finance your flips ...

How to flip houses with no money?

The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties - Kindle edition by Scott, Mr. J . Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties.

Is an option to buy agreement a viable option for flipping houses?

Mar 22, 2013 · This book is very detail in how to buy, rehab, and sell residential properties. This is a topic that I have been considering for some years, but have not really known how. This is a good look at being thorough and successful in flipping houses.

How to refinance a fix and flip investment property?

Read Free The Book On Flipping Houses How To Buy Rehab And Resell Residential Properties Biggerpockets Presents deal -Find unlimited sources of other people's money (OPM) to fund your deals -Put the system and team in place to leverage your time (remove yourself from the model) Finally a practical, easy to follow approach to flipping houses.

Overview

Entirely revised and updated, with more than 60,000 first edition copies sold! Learn how to find a great investment property, fix it up, and walk away with a profit.

About the Author

J Scott spent much of his early career in Silicon Valley, where he held management positions at several Fortune 500 companies, including Microsoft and eBay. In 2008, J and his wife Carol decided to quit their corporate jobs, move back East, start a family, and focus on real estate investing.

Table of Contents

Foreword Introduction Why Did I Write This Book? 20 Steps to Your First Rehab Chapter 1: First Concepts What is House Flipping? Does Flipping Still Work in Today’s Market? How Much Can I Earn Flipping Houses? What About Taxes? Are You a Contractor or an Investor? Controlling Your Deals Part-Time House Flipping Chapter 2: Get Your Financing In Order First, The Bad News Types of Real Estate Financing Summary of Financing Options Your Financial Resume No Cash? No Credit? Know This! Some Other Tips to Successful Borrowing What About Creative Financing? Chapter 3: Find Your Real Estate Agent What Kind of Agent Do You Need? Becoming Your Own Agent Your License As a Secondary Income Stream Chapter 4: Where Should You Buy? Determining Your Farm Area Analysing Potential Markets My Farm Area Chapter 5: What Should You Buy? Distressed Properties Retail Properties The Foreclosure Process Property Criteria Level of Renovation Chapter 6: Who Should You Buy From? Purchasing From Owners With Equity Purchasing From Absentee Owners w/Equity Purchasing From Owners Without Equity Purchasing Banks Owned Foreclosures (REO) Purchasing Foreclosures at Auction (Trustee Sales) Which Type of Seller is Right for You? Chapter 7: How Will You Find Deals? The Acquisition / Marketing Grid The MLS Online / Auctions Direct Marketing Advertising Internet Marketing Bandit Signs Wholesalers On-Site (Trustee Sales) Other Marketing Techniques Chapter 8: The Flip Formula The Flip Formula Determining Sales Price Calculating Fixed Costs Your Profit Estimating Rehab Costs Chapter 9: Looking at Properties The 100 House Rule Start Looking For Deals Deciding Whether to Make An Offer? Using Price Per Square Foot to Pre-Evaluate Chapter 10: Making Offers State Contract vs.

Reader Q&A

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Community Reviews

For a long time, I would search something like "top real estate investing books" and munch through everything on the list. Though this one was always on a top 10, I hadn't never considered reading it.

Who is the author of Flipping Homes?

Authors William Bronchich and Rober Dahlstrom have more than 40 years of combined experience flipping homes. The Business of Flipping Homes is one of the best books on flipping houses because it teaches tried-and-true strategies for both those looking at flipping as a side hustle and those who want to start flipping as a full-time venture.

What is flip book?

FLIP is a New York Times bestselling book on flipping houses that’s a great read for beginners. It covers all of the essential topics, including finding the right property, completing the rehab, and selling the property.

What is the dream home?

While Dream Home focuses on fixing up a house to live in for yourself, there are a lot of lessons for anyone flipping houses, like determining must-haves, negotiating with contractors, setting a rehab calendar, and much more. Get your copy of Dream Home.

What does Flip Your Future teach you?

If you can get past the title – I typically avoid anything that makes big promises – Flip Your Future teaches you about the potential in rehabbing houses and selling them for a profit.

What is Symon He's real estate investing?

Symon He’s Real Estate Investing QuickStart Guide is one of a series of introductory guides to financial topics like investing, day trading, options trading, post-pandemic real estate investing, and more. This one of the best books on flipping houses for beginners because it teaches how you can build wealth through real estate investing.

How many houses does David Green buy per month?

David Green’s rehabbing and rental strategy in Buy, Rehab, Rent, Refinance, Repeat is going to seem complex at first, but it’s what he’s been following to scale his business from buying two houses per year to two per month.

When was the book "The Old House" written?

By George Nash. Even though it’s a few years old – originally written in 1995 and updated in 2003 – it’s a solid choice. Flipping older homes can be a tricky business because there’s a fine line between preserving the historicity of a home while making it appeal to new buyers.

What are the costs of flipping a house?

The main costs of flipping a house will include renovation expenses, insurance, utilities, and marketing. The condition of the house upon purchase will determine the scope of work necessary to rehab the house and whether or not you will need to hire a contractor to complete bigger projects.

What is wholesaling for flipping houses?

Wholesaling. Wholesaling can enable investors to make a lot of money in a short amount of time, making it a great vehicle for flipping houses. The process involves finding properties for sale, getting them under contract, and then assigning the contract to a new buyer.

How to flip a house with no money?

Rather than going through a traditional lender, seller financing allows investors to work directly with the former property owners. This is an attractive choice to flip houses with no money, because investors have more flexibility when negotiating the terms of the loan. This can lead to a potentially small down payment, favorable payment schedule and even simpler approval terms.

Why do people flip houses with no money?

This is an attractive choice to flip houses with no money because investors have more flexibility when negotiating the loan terms. This can lead to a potentially small down payment, favorable payment schedule, and even simpler approval terms. To secure a property using seller financing, investors need to know what to expect.

How does wholesaler make money?

Wholesalers make money based on a percentage of the final sale, which is usually between five and ten percent. The wholesale process does not actually involve purchasing properties, making it a great opportunity to get started in real estate without access to financing.

How to use equity built up in one home to purchase another?

The first way to do this is through a cash out refinance. This involves redoing your existing mortgage and pocketing the difference between the two loans. There are no restrictions on what homeowners can do with this capital—meaning it could be used for the down payment on a fix and flip investment property.

How does option to buy work?

It works like this: renters occupy a space, and then agree to purchase the home at the end of the lease agreement. The purchase price will be determined at the time the original contract is signed, and in most cases rent payments will act as credits towards the final price. This is a great avenue for those wondering how to flip a house with no money down, as lease option homes do not typically require any up front payments.

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