Flipping Houses For Dummies

Evaluate properties with an eye for flipping Calculate a purchase price that maximizes your ROI Focus on repairs and renovations that will give you the most bang for your buck The definitive guide to making money by flipping houses Thinking about flipping? If you???re interested in the idea but are skeptical about others??? claims that making money flipping houses is easy and risk–free, this book is for you. This updated edition of Flipping Houses For Dummies takes a fun yet no–nonsense approach to giving you savvy strategies for negotiating deals, modernizing properties for maximum profit, marketing your home, and much more ??? without losing your shirt. Laying the foundation ??? find out if you have what it takes to flip houses, devise an effective strategy, build your dream team, and secure necessary funds House hunting ??? find great neighborhoods to work in, get trusted advice on how to pick the perfect house, and get the scoop on foreclosures Crunching numbers ??? make every dollar count with time– and money–saving tips, get the lowdown on mortgages, and make spot–on profit projections Fixing up your fixer upper ??? discover quick makeovers that give you the biggest bang for your buck, from improving curb appeal to renovating kitchens and bathrooms Cashing in ??? get proven negotiating tips to close deals faster and maximize your profits Open the book and find: How to put together a solid flipping strategy The best methods for securing funding The skinny on house hunting and neighborhood scoping How to close in on great deals with foreclosures Details on crunching numbers and evaluating properties How to make smart decisions about repairs and renovations Techniques for negotiating the sale of a home How to keep track of taxes and technicalities

Introduction  1 Part I: Laying the Foundation for Successful Flipping  5 Chapter 1: Wrapping Your Brain Around the Idea of House Flipping 7 Chapter 2: Do You Have the Right Stuff for Flipping? 19 Chapter 3: Devising an Effective Flipping Strategy 31 Chapter 4: Building Your Dream Team 41 Chapter 5: Securing the Funds to Fuel Your Flips 57 Part II: House Hunting with an Eye for Flipping  79 Chapter 6: Scoping Out a Fertile Neighborhood 81 Chapter 7: Hunting for Houses in Your Target Area 95 Chapter 8: Closing In on Foreclosure Properties 107 Chapter 9: Scoping Out Properties in Special Markets 127 Part III: Evaluating Properties and Crunching Numbers  141 Chapter 10: Researching Distressed Properties 143 Chapter 11: Inspecting the Property and Estimating Rehab Costs 161 Chapter 12: Calculating Your Profit and Maximum Purchase Price 177 Chapter 13: The Art of Haggling: Negotiating a Price and Terms 187 Part IV: Fixing Up Your Fixer–Upper  205 Chapter 14: Prioritizing and Planning Your Renovations 207 Chapter 15: Giving Your Property a Quick Makeover 221 Chapter 16: Perking Up the Curb Appeal 235 Chapter 17: Dazzling the Crowds with Updated Kitchens and Baths 251 Chapter 18: Tackling Moderate Makeovers 265 Chapter 19: Reconfiguring Spaces and Other Structural Overhauls 277 Part V: Cashing In: Realizing Your Profit  289 Chapter 20: Considering Your Options: Cash or Cash Flow ? 291 Chapter 21: Marketing Your Home 303 Chapter 22: Negotiating the Sale to Maximize Your Profit 317 Chapter 23: Trudging Through Some Taxing Issues 329 Part VI: The Part of Tens  339 Chapter 24: Ten Ways to Find Dontwanners 341 Chapter 25: Ten Signs of a Great House–Flipping Opportunity 347 Chapter 26: Ten Common House–Flipping Blunders 351 Index  355

Ralph R. Roberts is a master at flipping houses, earning a profit even in the depressed real estate market in Detroit, Michigan. Roberts is recognized nationally for his success in real estate, particularly in the field of foreclosures. Joe Kraynak is a freelance author and writing consultant who has written and coauthored numerous books on a wide range of topics. He is a valued partner and advisor to many For Dummies authors.