Читать книгу Flipping Houses For Dummies - Ralph R. Roberts - Страница 14

Flipping houses is a risky venture, but you can minimize risk and maximize profit by doing your homework:

 Research the property. If you’re buying a property in foreclosure, probate, bankruptcy, or a similar situation, research the property carefully to make sure you know what you’re buying. Research includes a visit to the property and to the register of deeds office to research the title and other key documents. See Chapter 9 for details.

 Estimate costs of repairs and renovations. Knowing how much you likely need to spend to make the property market-ready is the key to knowing how much you can afford to pay for the property and still earn a profit. In Chapter 10, I explain how to inspect a property with an eye for repairs and renovations and estimate the rehab costs.

 Calculate the maximum purchase price. Before you make an offer on a property, you need to calculate the most you can pay for it to earn the desired profit after costs, including closing costs, renovation expenses, holding costs (interest, insurance, property taxes, utilities, and maintenance), and agent commissions. In Chapter 11, I walk you through the calculations.

 Negotiate the price and terms in your favor. The maximum amount you can afford to pay for a property probably isn’t the amount you want to pay — you want to pay as little as possible. In Chapter 12, I help you discover various strategies and techniques to negotiate a better price and terms.