| Flipping real estate is a great way to get rich. For | | | | friends and relatives; or hire local teenagers for |
| example, you can simply buy a cheap house and | | | | jobs you need help with. |
| make improvements, then sell it fast for more | | | | Learn about the resources |
| than you paid for it. When you ask most people | | | | First, stroll through large flea markets to find |
| the secret of success, they would answer you | | | | permanent booths. Some used building suppliers |
| that the secret to flipping a house is not only your | | | | have been at the same flea markets for more |
| labor, but also finding the right house. | | | | than 20 years. Second, browse the local classified |
| Hunt for the good real estate | | | | ads for people that are advertising used materials |
| First, check the local courthouse for new filings of | | | | and supplies. The local classifieds are a great |
| bankruptcy, foreclosure to find a good house to | | | | source for used appliances in good condition. Third, |
| flip. Also check the local paper for "handyman | | | | check hotels and apartments that are remodeling |
| specials," call local realtors and place an ad in the | | | | and talk to the owner or builder. You may be able |
| local paper. Second, knock on doors to find and | | | | to get used supplies or materials just for moving |
| ask if the owner is interested in selling. Surprisingly | | | | them out of the way. This is a great source for |
| many are interested in selling but have not | | | | carpets, lights and cabinets. |
| contacted a realtor yet. If they aren't interested | | | | Sell the house |
| in selling, ask them if they know of anyone who | | | | First, determine if you should sell on your own, |
| is. Third, find the ugliest house in the nicest | | | | based on real estate commissions and your |
| neighborhood and one that does not need | | | | bottom line. A realtor can save a great deal of |
| structural or system repairs. This is the ideal type | | | | time because they already have qualified buyers |
| of house to flip. | | | | on hand. Second, advertise in the local papers and |
| Take from the cost of decoration | | | | online. You can place classified ads online or set up |
| Price the necessary building materials at a big box | | | | a webpage just for the house. Make sure you list |
| store first. Visit the contractors' supply section, | | | | the sales price and have photos for prospective |
| and then you should be able to get a good | | | | buyers to see. Third, host an open house that has |
| discount for the whole remodeling job. Visit a used | | | | been well advertised. Have coffee and snacks on |
| building materials supply store, they can save you | | | | hand which will make people feel more at ease. |
| a great deal of money if the supplies are in good | | | | Keep a sign in sheet with names and phone |
| condition. Paint whatever you can, including | | | | numbers of the people attend. Have music playing |
| appliances that are in good working order, but | | | | softly in the background that lends an "at home" |
| look old and used. Paint is the cheapest and best | | | | feel to the open house. Hand out a flyer that has |
| way to quickly improve a house. Determine which | | | | a photo of the house and pricing information; |
| jobs you will need help with and call a local licensed | | | | attach a business card to it. Return all phone calls |
| handyman for an hourly rate. Enlist the help of | | | | and answer all questions as soon as possible. |