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Buy it, Fix it, Sell it, Profit Kevin C. Myers. By: Brandon Allan Dr. Eff 04/03/06. Rehabbing/ Flipping. 1) Buy the property (find a good deal) 2) Fix the property (make minor improvements) 3) Sell the property (find an interested buyer). 1) Buying the property. Look for good deals

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buy it fix it sell it profit kevin c myers

Buy it, Fix it, Sell it, ProfitKevin C. Myers

By: Brandon Allan

Dr. Eff

04/03/06

rehabbing flipping
Rehabbing/ Flipping
  • 1) Buy the property (find a good deal)
  • 2) Fix the property (make minor improvements)
  • 3) Sell the property (find an interested buyer)
1 buying the property
1) Buying the property
  • Look for good deals
  • Old rundown houses that need minor work
  • People in stressful situations
  • Use experts (appraisers, agents, investors, etc.)
  • Stay clear of homes that need extensive work- not worth the time.
2 fixing the property
2) Fixing the Property
  • Choose renovations that make the most sense for your property
    • Bathrooms
    • Kitchens
    • Flooring
    • These are the cheapest and most attractive rooms for home buyers.
3 selling the property
3) Selling the Property
  • Hire a well-known real estate agent
  • Offer incentives to buyer and agent
  • Buyer- helpful financing
  • Agent- money, gift certificate
  • Selling a property quickly is the most important factor in flipping properties…besides the profit of course!
red flags
“Red Flags”
  • Termite/ Rodent Problems
  • Water stains on ceiling or walls
  • Cracks in:
    • Ceilings
    • Walls
    • Porches
single family homes
Single Family Homes
  • Easier type to rehab
  • Research an area, fix it quickly, and turn around and sell it
  • Apartments have drawbacks
    • Stuck with renting them instead of flipping
    • Tenants
    • Landlord duties
spatial side hot spots
I-85 (from Atlanta to Raleigh)

Banking in Charlotte

Atlanta’s obvious growth

Technology in Raleigh/ Durham area

Cascadia (area in Northwest)

Asian population will triple

Elderly will double

Nike’s headquarters

Intel factory (12,000 employees)

Spatial Side (Hot Spots)
conclusion
Conclusion
  • Rehabbing properties is a great way to supplement you income.
  • Hard to do as a full-time job.
  • After a couple, it becomes easier to receive loans and you have good contacts.