Monday, October 12, 2009
By: Jessie Bruyn
Flipping houses is one of the most popular ways of making money in the real estate market. It, however, is also very risky. If you do it right you can make a lot of money, but a simple mistake can make you lose everything. It is important to do a lot of research in the market to make sure the property is valuable to consumers. It is also important to make good connections in flipping the house for the lowest cost.
Buying foreclosed houses require knowledge of the market and of the actual house itself. Before getting into the business of buying foreclosed houses it is important to do a lot of research so you don't end up in a hole.
Jim Johnson gives 4 tips for flipping houses that are important to keep in mind
1. Thoroughly know the house you are buying
2. Stay focused on cosmetic problems in order to make the most money
3. Avoid major structural and remodeling problems
4. Keep your personal credit score high to get the best financing options