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Buy it, Fix it, Sell it, Profit Kevin C. Myers

Buy it, Fix it, Sell it, Profit Kevin C. Myers. By: Brandon Allan Dr. Eff 04/03/06. Rehabbing/ Flipping. 1) Buy the property (find a good deal) 2) Fix the property (make minor improvements) 3) Sell the property (find an interested buyer). 1) Buying the property. Look for good deals

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Buy it, Fix it, Sell it, Profit Kevin C. Myers

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  1. Buy it, Fix it, Sell it, ProfitKevin C. Myers By: Brandon Allan Dr. Eff 04/03/06

  2. Rehabbing/ Flipping • 1) Buy the property (find a good deal) • 2) Fix the property (make minor improvements) • 3) Sell the property (find an interested buyer)

  3. 1) Buying the property • Look for good deals • Old rundown houses that need minor work • People in stressful situations • Use experts (appraisers, agents, investors, etc.) • Stay clear of homes that need extensive work- not worth the time.

  4. 2) Fixing the Property • Choose renovations that make the most sense for your property • Bathrooms • Kitchens • Flooring • These are the cheapest and most attractive rooms for home buyers.

  5. 3) Selling the Property • Hire a well-known real estate agent • Offer incentives to buyer and agent • Buyer- helpful financing • Agent- money, gift certificate • Selling a property quickly is the most important factor in flipping properties…besides the profit of course!

  6. “Red Flags” • Termite/ Rodent Problems • Water stains on ceiling or walls • Cracks in: • Ceilings • Walls • Porches

  7. Single Family Homes • Easier type to rehab • Research an area, fix it quickly, and turn around and sell it • Apartments have drawbacks • Stuck with renting them instead of flipping • Tenants • Landlord duties

  8. I-85 (from Atlanta to Raleigh) Banking in Charlotte Atlanta’s obvious growth Technology in Raleigh/ Durham area Cascadia (area in Northwest) Asian population will triple Elderly will double Nike’s headquarters Intel factory (12,000 employees) Spatial Side (Hot Spots)

  9. Conclusion • Rehabbing properties is a great way to supplement you income. • Hard to do as a full-time job. • After a couple, it becomes easier to receive loans and you have good contacts.

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