Ever think that you might like to try “flipping” for some extra cash?  Maybe even “fix and rent” or whatever term you might call it–does it make any money?  During the next few blogs I will give you some of the ideas that I feel are important.

  Always remember the simple statement: “Spend time, don’t waste time!”  Important tip!!  You will be more profitable working only with Buy Fix Sell properties, where the rehab costs are under $15,000 to $20,000.  Should you locate a property with rehab costs over that figure, simply wholesale the property and save yourself the headaches.  The Buy Fix Sell technique can be used in any neighborhood and with any type of property.  The technique is simply this: acquire a property at a price that you can resell it at a profit.  Simple?  OK.  Try it!  It’s not as easy as it sounds.

  First you must locate the property, then determine if you can rehab it by yourself, or if you have to hire out a lot of the work.  If you must hire the work done, you will have to find a less expensive house than if you can do all of the work yourself. 

  Try not to listen to the stories of how they just painted the front door and made a profit of $5,000, or here’s a really good one–one person claims to have just mowed the front lawn and made a profit of more than that.  Remember I said stories!  I don’t know of anyone who has had that kind of luck. 

  In my next few blogs, I will try to spell out some of the steps you should do if you want to make a profit or just fix up the place.  Till then, have a good one!