How To Flip Houses For HUGE Profit | Step By Step
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3 سال پیش
-
Real Estate Rockstar Academy (Learn
Real Estate Rockstar Academy (Learn How To Build A 6 Figure Real Estate Business)
https://jeremymateo.teachable.com/
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Looking to buy Real Estate In Hawaii? Email Me
[email protected]
Want to become a licensed realtor? Click here
https://trk.realestateexpress.com/?a=...
Instagram/Twitter/Tik Tok: @thejeremymateo
_______
0:00 Intro
0:57 1. Understand Your Strengths and weaknesses
When it comes to flipping a home, there is generally 2 sides to it… there’s the real estate and then there the construction side..and in between all of that is a whole bunch of different things that require different type of skillsets… so understand
Are you good with real estate? Are you a realtor?
Do you understand how construction works? Are you a GC or have any trade work experience?
2:18 2. Understand your market
This means understand the real estate market that you are in. Typically when you start out flipping homes, you want to stat where you live or near where you live.
When it comes to understanding your market you basically want to know how much are homes selling for and in what kind of condition, how fast they’re selling, is it a good location, is it highly desirable, are there schools, etc
4:03 3. Assemble Your Team
Your team will generally consists of
Realtor
Lender
GC
Escrow Officer
6:03 4. Understand How To Analyze Deals
This is where you figure out what exactly your profit is or at least a rough estimate.
Typically There’s the purchase cost, the renovation cost, the money cost which is the interest if you’re getting a loan, holding costs such as utilities if any, monthly association fees if any, closing costs, and of course realtor costs you need to pay your realtor when you sell
7:10 5. Find The Deal
This believe it or not, is the HARDEST part of all of this….not understanding your market, not finding money, its finding the deal…So how do you find the deal? There are many different ways.
- MLS
-Wholesalers
-OFF MARKET
(writing letters and sending Mailers, cold calling, door knocking, and if you guys know me, my favorite is word of mouth through…. SOCIAL MEDIA.)
9:15 6. Negotiate Contract/Escrow
This is a quick one, but basically if you didn’t get it form a wholesaler then you would be in contact with the seller, you negotiate deal, create a contract, this is where your realtor comes in.
You sign, seller signs, and then you enter escrow.
In this period that is where you do you due diligence. First thing is get a home inspection.
You want to know exactly what is wrong with the home inside and out. Maybe there’s a leak or infestation that you didn’t see right away. maybe some appliances don’t work. Figure out exactly what is wrong, so you know exactly what to tell your GC to fix and will know how much the renovation will cost.
9:46 7. Funding the deal
So Once you get the deal under contract, by now you SHOULD know how you will be buying this.
You will either be using
Your own money
traditional lending which I mentioned before (conventional, FHA, VA Loans)
or it’s most likely going to be through Hard Money & Private money
10:40 8. Get Renovation Estimates
You want to get at least 3 to compare. Compare their pricing with each other using your best judgement and remember the cheapest isn’t always the best. If a GC gives you a really good deal, just make sure you trust them.
11:39 9. Sell the home
This is where your realtor comes in. They put it on the MLS, market It, and if you ran your numbers right and priced correctly, you should be selling fairly quickly for a great profit close to what you calculated in the very beginning.
_____
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ryan pineda
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real estate investing for beginners podcast
bigger pockets podcast
bigger pockets
house flipping with no money
how to flip homes step by step
home flipping
_____
My YouTube equipment:
https://amzn.to/2VgoYPu (Canon EOS M6 Mark II)
https://amzn.to/2Aiz0rk (EF-M 11-22mm f/4-5.6 STM Lens)
https://amzn.to/3fD5NHe ( Professional Wireless Lavalier Microphone)
https://amzn.to/34JQCri (2 Piece LED Light & Stand Kit)
https://amzn.to/3evvTMe (Joby GorillaPod TriPod)
--------------
DISCLAIMER: These videos are for entertainment purposes only. This is not meant to be financial advice. Please always do your due diligence.
AFFILIATE DISCLOSURE: Some of the links in this video description are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or opt-in.
https://jeremymateo.teachable.com/
Get 2 FREE stocks on WeBull if you create an account
https://www.webull.com/activity?invit...
Looking to buy Real Estate In Hawaii? Email Me
[email protected]
Want to become a licensed realtor? Click here
https://trk.realestateexpress.com/?a=...
Instagram/Twitter/Tik Tok: @thejeremymateo
_______
0:00 Intro
0:57 1. Understand Your Strengths and weaknesses
When it comes to flipping a home, there is generally 2 sides to it… there’s the real estate and then there the construction side..and in between all of that is a whole bunch of different things that require different type of skillsets… so understand
Are you good with real estate? Are you a realtor?
Do you understand how construction works? Are you a GC or have any trade work experience?
2:18 2. Understand your market
This means understand the real estate market that you are in. Typically when you start out flipping homes, you want to stat where you live or near where you live.
When it comes to understanding your market you basically want to know how much are homes selling for and in what kind of condition, how fast they’re selling, is it a good location, is it highly desirable, are there schools, etc
4:03 3. Assemble Your Team
Your team will generally consists of
Realtor
Lender
GC
Escrow Officer
6:03 4. Understand How To Analyze Deals
This is where you figure out what exactly your profit is or at least a rough estimate.
Typically There’s the purchase cost, the renovation cost, the money cost which is the interest if you’re getting a loan, holding costs such as utilities if any, monthly association fees if any, closing costs, and of course realtor costs you need to pay your realtor when you sell
7:10 5. Find The Deal
This believe it or not, is the HARDEST part of all of this….not understanding your market, not finding money, its finding the deal…So how do you find the deal? There are many different ways.
- MLS
-Wholesalers
-OFF MARKET
(writing letters and sending Mailers, cold calling, door knocking, and if you guys know me, my favorite is word of mouth through…. SOCIAL MEDIA.)
9:15 6. Negotiate Contract/Escrow
This is a quick one, but basically if you didn’t get it form a wholesaler then you would be in contact with the seller, you negotiate deal, create a contract, this is where your realtor comes in.
You sign, seller signs, and then you enter escrow.
In this period that is where you do you due diligence. First thing is get a home inspection.
You want to know exactly what is wrong with the home inside and out. Maybe there’s a leak or infestation that you didn’t see right away. maybe some appliances don’t work. Figure out exactly what is wrong, so you know exactly what to tell your GC to fix and will know how much the renovation will cost.
9:46 7. Funding the deal
So Once you get the deal under contract, by now you SHOULD know how you will be buying this.
You will either be using
Your own money
traditional lending which I mentioned before (conventional, FHA, VA Loans)
or it’s most likely going to be through Hard Money & Private money
10:40 8. Get Renovation Estimates
You want to get at least 3 to compare. Compare their pricing with each other using your best judgement and remember the cheapest isn’t always the best. If a GC gives you a really good deal, just make sure you trust them.
11:39 9. Sell the home
This is where your realtor comes in. They put it on the MLS, market It, and if you ran your numbers right and priced correctly, you should be selling fairly quickly for a great profit close to what you calculated in the very beginning.
_____
how to flip houses for huge profit
wholesaling real estate 2021
real estate investor lifestyle
ryan pineda
home flipping 101
how to flip homes 2021
how to flip homes for profit 2021
wholesaling real estate explained
real estate market
hawaii real estate 2021
hawaii real estate
oahu real estate 2021
real estate investing for beginners podcast
bigger pockets podcast
bigger pockets
house flipping with no money
how to flip homes step by step
home flipping
_____
My YouTube equipment:
https://amzn.to/2VgoYPu (Canon EOS M6 Mark II)
https://amzn.to/2Aiz0rk (EF-M 11-22mm f/4-5.6 STM Lens)
https://amzn.to/3fD5NHe ( Professional Wireless Lavalier Microphone)
https://amzn.to/34JQCri (2 Piece LED Light & Stand Kit)
https://amzn.to/3evvTMe (Joby GorillaPod TriPod)
--------------
DISCLAIMER: These videos are for entertainment purposes only. This is not meant to be financial advice. Please always do your due diligence.
AFFILIATE DISCLOSURE: Some of the links in this video description are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or opt-in.
3 سال پیش
در تاریخ 1400/07/14 منتشر شده
است.
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