Fix And Flip For Financial Independence

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Should I Start Flipping Houses Or Multifamily?

fixer upperWholesaling real estate is pretty mainstream today. Bear in mind, in the early 90’s it was a revolutionary concept.

“Can you really do that?”

The odd instructor (“guru” wasn’t a term used back then) would try to distinguish themselves by claiming “flipping” was illegal. Then Ron Legrand came along and clued us all in. Not only was it not illegal, it was actually the smarter way to be in real estate.
Image Credit: The Real EstatePreacher.net

Do less, make more, never touch the property.

Fast forward twenty odd years and there is still a little skepticism around flipping houses. Can you really do it? Where do you find the deals?

Then as now, wholesaling real estate is misunderstood. It is as viable as ever, and the opportunity is sitting there, waiting for whoever wants to come and do it. Continue reading

Real Estate Cashflow From Value-Add Multifamily

If you are looking for solid, stable, consistent cashflow from real estate, multifamily value-add opportunities provide the biggest bang for the buck you are likely to find anywhere on the real estate investing landscape.

tunrkey single familyWhen thinking of cashflow from real estate though, “turn-key” single-family properties may come to mind. These are expertly promoted packages for the ‘retail’ investor, and do indeed provide good returns. The single-family home is very simple to understand, and the investment returns not hard to know.

As Chris Clothier of MemphisInvest notes in his article, 6 Pieces of Expert Advice on Single-Family Rental Properties:

In real estate investment, there are a lot of variables. Sometimes it’s hard to know if you’re making the right decisions for your financial future. It can all seem uncertain when you don’t know if you’re picking the right properties or the right markets. When it comes to investing in single-family properties, you can rest easy in this: you can always trust the numbers.

Unlike gut feelings and even logical rationale, the numbers always speak for themselves. At the end of the day, you always ask yourself whether or not a deal makes financial sense. Will this property yield the positive cash flow to make it worth it? How much wiggle room is there?   Read full article here

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Real Estate Cashflow Without The Real Estate

If you like the idea of owning real estate and generating cashflow from tenants occupying that real estate, then advancing technology has just made things a whole lot more interesting for you.

airbnb logoThanks to the quantum leap in information sharing made possible by the internet, the sharing economy has sprung up. First with Priceline.com for airline seats, but now with AirBnB for individual rooms, apartments, and houses.

You may have though this was a “neat” way for property owners to make a bit more money on vacant units and spare rooms, but it is much more than that.
Image Credit: Airbnb.com

If you have been in the house flipping business, buying houses “subject-to” and selling on lease-option, AirBnB has made it possible for you to remove 99% of the hassle and magnify the cashflow. Continue reading

How to Fix and Flip Houses Case Study Sold With a $50,000 Profit

by Mark Ferguson

In October of 2013, I did a case study about a fix and flip I had just purchased. The article, How to fix and flip a houses; case study #1, discussed the costs, repairs and potential profit on the fix and flip. I sold the property on May 23, 2014 for a nice profit, but things did not go exactly as I planned. The repairs were much more than I planned for, but I also sold the property for more than I thought. I had some major problems with my contractor on this property and it took way too long to repair and sell. I also learned a lot about how to improve my fix and flipping business with this property.

My estimates on repairs and profits for this fix and flip

I bought this home for $76,299 and I estimated it would need about $23,500 in repairs. I usually under-estimate repairs so I always add another $5,000 as a buffer on my expected costs for unknown items. I thought the home would sell for $160,000 leaving me a profit of just over $42,000 after all expenses and not factoring in money I make on commissions. Here are the estimated repairs I talked about in the first case study article. Continue reading

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