By: Jamel Gibbs
You hear about it everywhere! Every news program is talking about it. What is it? It’s the so called “burst” of the real estate bubble. True, if you are an investor that doesn’t know what he or she is doing, then you can lose your shirt. So what must you do to make money when flipping houses in this market even as a newbie?
There are two ways that you can take advantage of flipping houses in this real estate market and make a very handsome monthly income as well as build massive wealth. What are these two ways? Buying and holding real estate, and the infamous wholesale method.
In this real estate market homes are sitting up for sale longer than usual. Homeowners are being more realistic with their prices now. With interest rates on the rise, now is the time to cash in and buy discounted properties. Discounted property investing will literally make you rich if you get the right deal at the right price. I mean its common sense. You can make money in any real estate market if you focus on buying discount properties and then flipping the house for a profit.
Buying and Holding: What do you do when you get those properties at such great prices. In the real estate market 2 years ago (maybe even last year), you would have fixed and sold that property for huge profits. That method still works today. The trick is to get FHA buyers. But that’s another topic that I’ll discuss in another article. What I’m saying is to refinance those properties and hold on to them until the market turn back around. If you buy enough properties and then sell them when the market is back up you will not have to save for retirement or your kid’s college education. But what if you’re new and your credit sucks? Or you’re not in the mood to have tenants?
Wholesaling Properties: Flipping houses and or wholesaling is by far the easiest and fastest way to make money in the real estate business. The formula is simple! Find a deep discounted property, advertise the property at a marked up price and sell for a profit. The trick is to offer the buyer/investor a great deal for the property too. An average wholesaler will make between $5000 and $10,000 per deal. Sometimes you can make more, but those types of deals come by once in a while. If you focus on volume instead of profit per deal, then you will make lots of money.
Copyright © 2008 Jamel Gibbs
All Rights Reserved
WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it Jamel Gibbs own one of the fastest growing real estate investment businesses in Pennsylvania. He’s originally from Brooklyn New York. He became a real estate agent at the tender age of 21 years old and a broker shortly after. Jamel started buying real estate when he moved to Pa and he now has a successful investment business. He also coaches others who are interest in making massive profits in real estate.
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