There are many ways and motivations for making quick flips in real estate. I don't know about you, but I'm not interested in holding onto a property for very long, managing renters, or doing any fix up on tax deed properties. I'm just not into that. Maybe I'm lazy... and I'm okay with that. I'd rather buy a property and have the option of selling it quickly. If it needs fix up I'll let the next person worry about that. In order to successfully flip homes in this manner you have to price the home right, which means you have to price the real estate low. In order to price the home low you have to buy the home low. I'm talking about 5 - 10 cents on the dollar.
"What?! 5 - 10 cents on the dollar?! That's crazy!"
Although it's crazy people are doing it every day. If you're a member of this website then you see government foreclosure properties for sale through us for 5 - 10 cents on the dollar everyday. If you're not a member of this site then you're driving the streets and calling agents and banks and it may be a bit harder to find those deals. In this struggling market you have to get the tax sale properties very cheap to be able to price them low enough to move them quickly. Don't tell me there aren't buyers out there. You're a buyer, right? There are millions of buyers; they're just waiting for the right deal and you will be able to present them with that right deal.
Here's an example of a property we are trying to sell right now. Tell me if you think this is a good deal. The BPO on the property is $55,000. It's in Akron, OH. 3 bedrooms, 1 bathroom. Here's an actual picture.
We're selling it for $4,987. That's 9 cents on the dollar. Do you have to fix up this property? Nope. Being able to buy a property for 9 cents on the dollar gives you many options. You can fix it up or rent it if you want or you can turn around and sell it for 18 cents on the dollar and double your money and probably sell it pretty quickly. Not bad, eh? There are good deals out there. Many good deals... You just have to know how to find them or know someone that knows how to find them. I guess you can say it's more about who you know that what you know. Am I right? Now you know us and we know everything... just kidding; we don't know everything but we know enough to have hundreds of these properties and deals moving through our offices every week.
No Risk Investor is the ultimate resource and tool for tax lien, deed, and real estate investors all over the world. No Risk Investor takes incredible pride in its ability to help students take action, get into properties, and begin the journey to financial freedom. No Risk Investor provides county lists, property lists, online auction lists, comprehensive training and education, an auction calendar, and online auction center, an investor community and much more for its members.
