Today we have our 4th episode of “Makeover Monday;Baby Steps to Success”. The topic is rehabbing or “fix and flip”.
Rehabbing or “fix and flip” is one of my favorite real estate investing strategies. This involves buying an ugly property that typically will need a lot of repairs, rehabbing it and then selling it to an end buyer. This buyer will almost always be a homeowner or a “retail buyer” as real estate investors like to say. For those investors that like to take something ugly, give it new life and make it pretty again this is the strategy of choice.
There are 6 main components to setting up a successful rehabbing business.
- Marketing to find a property
- Fielding the calls from sellers
- Making the offer; the 70% rule
- Getting the money to close the deal
- Rehabbing the property
- Selling the finished fix and flip
Here's today's video:
I will see you next time for another “Makeover Monday; Baby Steps to Success for Creating the Business and the Lifestyle you Love”.
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