the book on flipping houses: how to buy, rehab, and resell residential properties by mr. j scott

by Jared Stehr Published 2 years ago Updated 1 year ago

What is the 70% rule in house flipping?

The 70% rule helps home flippers determine the maximum price they should pay for an investment property. Basically, they should spend no more than 70% of the home's after-repair value minus the costs of renovating the property.Feb 28, 2022

Is Flipping houses still profitable in 2021?

That was up 10.6 percent from $241,400 in the first quarter of 2021 and 18.7 percent from $225,000 a year earlier. The annual increase marked the biggest price spike for flipped properties since 2005, and the quarterly gain topped all improvements since at least 2000.Sep 16, 2021

How do I start flipping and fixing houses with a legit business?

Starting a house-flipping business in 8 stepsStep 1: Write a business plan. ... Step 2: Grow your network. ... Step 3: Choose a business entity. ... Step 4: Obtain an EIN, insurance, permits, and licenses. ... Step 5: Find suppliers and contractors. ... Step 6: Assemble a team. ... Step 7: Obtain financing. ... Step 8: Source your deal.

How do I start a house flipping business book?

The 9 best books on flipping housesThe Flipping Blueprint: The Complete Plan for Flipping Houses and Creating Your Real Estate Investing Business. ... Flip Your Future: How to Quit Your Job, Live Your Dreams, and Make Six Figures Your First Year Flipping Real Estate. ... Real Estate Flipping: Flipping Houses for Passive Income.More items...•Mar 28, 2019

What is the average profit on a flip?

Typically, the average investor makes $30,000 net profit on a house flip if all factors align.Mar 10, 2022

How many houses can you flip in a year?

Technically speaking, there aren't any regulations stating you may only flip 'X' number of houses per year. It depends on your finances, time management, and the availability of homes in your area. The average real estate investor flips 2 to 7 homes a year.May 19, 2021

How much cash do you need to start flipping houses?

For our smallest loan, we'd like to see between $12,000 and $15,000, or at least access to it. For larger loans, the amount we're expecting to see increases. For example, if you want to acquire a $250,000 loan, we would need to see at least $25,000 to $30,000 to approve the loan.

What is the first step to flipping houses?

Step 1: Research for your ideal real estate market. ... Step 2: Set a budget and house flipping business plan. ... Step 3: Confirm your house flipping financing. ... Step 4: Network with contractors. ... Step 5: Find a house to flip. ... Step 6: Buy the house. ... Step 7: Renovate. ... Step 8: Sell your fix-and-flip house.Jul 1, 2021

How can I flip a house with no experience?

5:0212:47How To Flip A House With No Experience - YouTubeYouTubeStart of suggested clipEnd of suggested clipSometimes i like to pretend i'm on a tv. Show flip in a house. So i get i try to get it done as fastMoreSometimes i like to pretend i'm on a tv. Show flip in a house. So i get i try to get it done as fast as possible. Getting your trades people in and getting them in in and out as fast as possible.

Can you sell flip books?

Flipping books for a profit can be a great way to make money. You can do this somewhat passively a make a few hundred bucks or you can put in more work and potentially make a full-time income! Remember to do proper research, find books at a low cost in order to mark-up properly, and monitor any shipping costs.Feb 18, 2021

How do you sell a house book?

Selling Your House: Nolo's Essential Guide by Ilona Bray, J.D.Zillow Talk: Rewriting the Rules of Real Estate by Spencer Rascoff and Stan Humphries.Your Amazing Itty Bitty Sell Your Home Book: 15 Simple Steps on How to Stage and Sell Your Home – Fast! By Eduardo Mendoza.Dec 1, 2016

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Editorial Reviews

J Scott is a full-time real estate investor and rehabber currently living in the suburbs of Washington, DC (formerly living and investing in Atlanta, GA). He is originally from the East Coast, and until Spring of 2008, he resided in Silicon Valley (California), where he spent many years in management at several Fortune 500 companies.

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love this book has lots of good points for flipping houses properly. i recommend it for any beginner person. bye.


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.

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