The 5 Fundamentals to Flipping Properties

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Alright…today, we’re going to talk about the 5 Steps to Success in Flipping Properties.

Five Steps…

Simple, right? Well, yes…yes it is!

So, if you haven’t had success, or your bank account is empty, then get back to the FUNDAMENTALS! That’s where the money is made…that’s what you need to keep your focus on. Master the fundamentals, and you’ll have rock solid success.

Just ask Tiger Woods…

Hmm…maybe not the best example….let’s go with Michael Jordan.

So, here are the 5 Fundamentals to Flipping Properties. Master these, and you can essentially write your own check. Of course, it may just be me, but sometimes it’s a lot harder to master our mindset than it is to master these fundamentals. But you’re probably different, right?

Here they are:
1. Find it (Find a property, owned by a motivated seller)…Most people who flip properties think this has to be a junker. Now, don’t get me wrong…if you’re brand spankin’ new at this, then yeah, you’ll probably want to start out with junkers. But…you can essentially flip anything that is a deal. Let me say that again for some of you that didn’t get it the first time: YOU CAN ESSENTIALLY FLIP ANYTHING THAT IS A DEAL. There, was that better? The key is having the knowledge to recognize what IS a deal and what IS NOT a deal.

2. Lock it Up – Well yeah…you can’t sell a property unless you’ve got an “Interest” in it. Now, there are a few ways that you can “lock up” a property. My favorite is to get it under contract, with a contract that protects me in case I’ve screwed something up.

3. Find a Buyer – OK…if you’ve found a deal…then guess what…finding a buyer will be a CAKE WALK. Even in this market.

4. Get Paid – This is the FUN part. It’s also the part that doesn’t seem right…especially when you’ve spent a very small amount of time, and get paid a big chunk o’ change. This will mess with your head…especially the first time you do it!

5. Do It Again – This is the hard part. You know it works…why aren’t you doing it.

So…Jason…what’s the deal with this 5 steps crap….this is too easy….this is waaaay beginner stuff!!

Exactly….then why aren’t you doing it?

Ouch….did that hurt? Did I hear someone being called to the carpet?

But seriously…it’s true…Flipping Properties is simple, easy….and the only thing stopping you is what’s between your ears.

Till next time,

Jason B. Simpson