Unless you’ve been living under a real estate rock the past 12-18 months, learning how to flip houses is a big deal right now.
With multiple reality television shows like Flip This House and all the others – it seems everyone has flipped for house flipping.
Just last week, I even got a call from US News and World Report to help them with one of their articles as a “Flipping Expert”. Get this – the report on House Flipping was eventually picked up by Yahoo!
It just seems like there are so many people hyping the house flip thing, it seems a bit out of control.
House Flipping Hits Hollywood?
Even famous and even not-so-famous-anymore celebrities (what's up Vanilla Ice) are now getting into house flipping…proving that Hollywood too it seems has gone flip-crazy.
And although new foreclosures are declining, the fact remains that there are many great opportunities available to get into good house flips – even as we work through the foreclosure inventory and climb our way out of the great recession.
House flip deals are still available and this makes for an ideal environment for people want to fix and flip houses – which may have something to do with the current frenzy.
So What Are The Steps to a House Flip?
When Kim Kardashian starts talking about house flipping…that’s an early sign that you need to get real.
Although house flipping has been hyped a lot recently, the fundamentals remain the same: it’s a great time to get into not only house flipping but real estate investing in general.
So let’s toss Vanilla Ice and Kim Kardashian aside and get down to how it’s done and what you can do to start doing it.
Make no mistake, house flipping has never been and will never be as simple and easy as the “gurus” would have you think.
Nor is it as easy as the reality shows would have you believe. Even if you ask them, they’ll tell you that it's not as simple as it's made to be on television.
House flipping takes hard work, education and in some cases years of experience to do really successfully. But that does not mean that the new real estate investor cannot start doing it successfully….
But to do that, there are some key steps to success – and although there is no way to explain ALL the little details of how to flip a house – it can be broken down essentially into nine basic steps.
So to illustrate the steps needed to flip houses, I’ve put together the following infographic which simplifies what is in practice a complicated process with multiple moving parts.
But knowing the basic steps involved to start can certainly get you on your way to house flipping success.
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