1.  Even out the rough spots The real estate broker profession is a profession in which its participants will go six months without making a dime and then the stars align and $40,000 falls into the brokers lap.   The exhilaration of a large bank balance is soon forgotten as office overhead and overdue personal bills are paid and the roller coaster repeats itself.  In the feast-or-famine world of real estate sales, the management fees collected from real estate investment properties provide a stabilizer effect to help even out the peaks and valleys of 100% commission income.  Through the use of a property management business, the 10% management fees from collected rents can easily provide a broker with an ongoing income stream with which to pay office overhead. This stream of income can turn into a full-fledged river after several large properties have been placed under management; enough money to pay a salary in order to even out the ebbs and flows of real estate markets. 

2.  Crack the often elusive trusted advisor circle Property management not only provides extra income through management fees, but also provides brokers opportunity through getting on the inside of a tough, but lucrative market – a real estate investors inner circle of trusted advisors. Many agents do not realize that the best deals never make it to the MLS. When it comes time for an investor to sell a real estate investment, they will work with an agent they feel is the most competent agent for marketing the investment and representing the investor. This may be a broker who manages the property or it may be a broker they have had success with in the past, but the property manager certainly has had plenty of opportunity to demonstrate levels of knowledge, skills, and competence.   

3.  Provide an endless supply of would-be homeowners Eventually most renters will leave the rental market and enter into the world of owner-occupancy. Who do you think a renter turned would-be owner will look to when they are ready to purchase? An agent whose face and phone number have faded off the bench at the corner bus stop or their broker/property manager who was willing to work with them on their late rent while their baby was in the hospital?   Starting a property management business is not only a great way to increase income to offset sagging sales, but also help build a loyal clientele of investors and homeowners for the future.  

Ryan Windley coauthored The Property Management Start-Up Guide “How to Start a Property Management Business and Still Keep Your Life” in order to introduce entrepreneurs to property management as a viable business.

If you would like to know more about starting your own property management company you can purchase the book @ http://www.propertyprof.info

What To Do Before You Flip A House

Before you make your opening flip, you need to step back and make a decision not to become one of those house flipper failures that you hear about in chat rooms on the Internet. You need to think positive that you’ll be a success story that is seen on the television.

Take Time To Create A Plan

If you desire to be a success story, you’ll need to do some planning. Don’t make it a “on the whim” plan. It must be thought out. Study and research the properties you are interested in, check out their prices and values and compare them with the rest of the homes in the neighborhood. Remember that this is an investment and it takes months of planning to pick the perfect first flip that will boost the chances of success.

Be Realistic

When you’re planning the first flip, remember to be pragmatic and don’t expect too much out of it. The first flip is likely to be the least successful of all your flips; this is because you’re learning the ropes. You may make some money but it may not be very much. If you’re going into the buy thinking you’ll make money like you did as a full-time employee, you’re going to need to get out now. First flips hardly ever go as anticipated.

Set Aside A Large Budget

For your initial flip, put aside a little more money (typically two to three times more money than you would normally). This will help you cover the tangible costs that are needed including supplies, permits, labor and more. Most people don’t consider these costs initially. If you don’t have much or cannot afford to spend a lot, then it’s time to walk away since the property won’t be a good first time flip.

Plan Your Day’s Events

After you’ve purchased the property, it’s time to get to work. Make sure each day is full, cleaning and fixing up the home. You’ll want to have all the tools and materials at hand and even your lunch/dinner nearby. If you have to do a quick run for certain things, you lower the productivity level and progress made for the day. With proper planning, you’ll avoid these pricey delays and have a real estate house flipping story worth sharing to the world.

The Definition of “Flipping”

When you are flipping houses, you are purchasing a distressed property at a low price and reselling quickly to someone else at a substantial mark-up. While this is often done with run-down properties in need of renovation or “rehabbing,” properties like this are not the only game in town when it comes to fix and flip real estate transactions. Homes that are “for sale by owner” are great candidates, as the seller is usually very motivated. Foreclosed properties can also be purchased at a great discount; you can find these through banks and realty offices that specialize in such things.

House Flipping Tips Number 2: Tracking And Bagging Your Quarry

Basically, the best candidates for a profitable fix and flip real estate transaction are those on which you can make the biggest profits with the least amount of time and effort. As mentioned earlier, banks and mortgage companies are prime hunting grounds, but you may also find deals at real estate auctions. The only caveat here is that you are up against a lot of competition at an auction; bids get raised quickly, and you may not get the best deal.

House Flipping Tips Number 3: Financing

After you’ve done it a few times, you’ll probably wind up with enough cash on hand to buy properties outright. However, when starting out rehabbing properties or doing your first flip, you’ll probably need to get a short-term mortgage. The best terms can be had if you can make a down payment of at least 5%, and preferably ten.

Of course, it goes without saying that you absolutely must have a ready buyer – or you’ll be stuck with a second house that you cannot easily sell and cannot afford to keep. This alone may be the second most important of all house flipping tips. You can use Internet resources here, but it also doesn’t hurt to have a lot of good networking in the real world, either.

The Most Important of House Flipping Tips

Know the law. Because of past abuses by some unscrupulous individuals, some communities have passed ordinances to discourage the practice of flipping by requiring home buyers to remain in the home for a minimum length of time (usually between six months and a year).

How would I go about doing this type of real estate investing
for example. What do I tell the person I’m buying the house Dom and what do I tell the people I’m selling to about the 2% fee?

            One of the fastest-growing careers of the next decade, employment of property, real estate, and community association managers is projected to increase by 15 percent by 2016, according to the U.S. Department of Labor. As the mortgage market compels many Americans to rent instead of purchase homes, and baby boomers move into housing and healthcare units, property management professionals will be in high demand. There will also be opportunities with real estate development companies, commercial property corporations, and government agencies that manage public buildings. If you see a well-run, profitable establishment with satisfied tenants, chances are there is a talented property manager handling the day-to-day logistics of that community.

            One successful California property management developer, Andrew Gross, vice president at Thomas Safran and Associates, an affordable housing development firm, says his profession has taught him not to be afraid “to dream big.” “Business development is a challenging process, and a developer must possess the creative know-how to put out fires and overcome hurdles.” Gross is a member of the Advisory Board at Fremont College,  a premiere degree and career college in Southern California.  He says that developing affordable housing has been personally fulfilling, allowing him to change entire areas and “see people truly enjoy their new situations.”

Property management holds the most potential for people like Gross who enjoy blending knowledge of real estate with customer service and sales skills. Being a property manager is like being the mayor of a small city-you manage revenues, make important decisions about management, oversee contractors, oversee residents, and more. “Attention to detail is crucial,” says Gross, who constantly finds himself drawing parallels between work and life in his daily challenges.

            Property managers need to have a broad knowledge of business, finance, accounting, and real estate, as well as practical skills such as math, writing, computer, and oral communication. A business administration degree with a concentration in property management will equip you with knowledge of financial and expense control, customer service and marketing, leasing basics, and more. Various professional and trade associations also allow you to expand your knowledge of specialized subjects, such as insurance and risk management, personnel management, and reserve funding. Many fields overlap, says Gross, such as the constant intertwining of property management and real estate.

            Your career opportunities may abound as a property manager-you can work for real estate agents and brokers, lessors of real estate, or any other real estate company. Just as an example, top U.S. and trade associations, such as the Building Owners and Managers Association and the National Association of Industrial and Office Properties all offer job postings and networking opportunities. Booming overseas expansions are also opening up international property management positions. At Thomas Safran and Associates, which owns and manages over 3,200 units of affordable rental housing in the Greater Los Angeles area, Gross says that the company is looking to hire skilled professionals who are able to communicate with clients.

            So move aside, Donald Trump. The commercial and residential real estate industry is attracting talented young professionals with a strong educational background that equips them with a diverse skill set, talent, and experience. As a property manager, you can make a positive, sustainable impact on the environment and the economy, build lifelong relationships, and make a difference in the lives of hundreds of people. The welcome mat is out for a satisfying and rewarding career in property management. You just need to open the door. “It’s important to find life’s work that is fulfilling,” says Gross, who says it was serendipitous that he ended up in such a rewarding field.

For more information about a degree in business administration or career opportunities in property management, visit www.fremont.edu, or call 877-344-2345. Fremont College is a Southern California-based college dedicated to offering hands-on, career-focused accelerated degree programs that close the gap between the classroom and the workplace.

You, too, can be a House Flipper and have a flourishing House Flipping career!  Because of today’s slow, yet appealing housing market, there’s never been a better time to begin buying, renovating and selling homes.  The possibilities are endless.  If you’re interested, and have the necessary tools and skills, you can do ‘almost’ everything!  As an owner of a property you can accomplish almost all of what are ‘certifiable tasks’, i.e. minor plumbing and minor electrical.  You may still have to subcontract HVAC, major plumbing and major electrical, but can save hundreds, if not thousands, of dollars by accomplishing the simple tasks on your own.  If you tackle them, and succeed, you’ll have a sense of accomplishment and will reap great monetary rewards for your efforts! Flipping Houses could become the most exhilarating experience you’ve ever had!  Even if you’re a skydiver!

‘YOU’ CAN BE FLIPPING HOUSES, TOO!

From Florida to Washington, and from Maine to California, people just like you, are taking the plunge into House Flipping waters to realize their dreams of self-employment, self-fulfillment and self-determination.  The economy has made it harder to achieve, but it’s still within reach.  The overriding fact is that every single American NEEDS a place to live!  It is with this in mind, that you should consider the obstacles and rewards of Flipping Houses.

There are several TV shows on now that highlight many issues you may face.  From leaky toilets to ‘wood rot’, to foundational problems and all issues between, you’ll need to learn what issues are ‘show-stoppers’ and which can be easily overcome.  Experience will teach you.  But, you must gain that experience in a variety of ways, study hands on and House Flipper trial and error.

WHAT TO CONSIDER WHEN FLIPPING HOUSES

In general, minor plumbing and electrical issues can be corrected by taking a quick trip to Lowe’s, Home Depot, or any of your local hardware stores.  And, of course a trip to your computer or the library, to get up to speed concerning the tasks at hand.  If you’re a lifelong piddler, like me, you’ll know how to do most things.  And, can easily learn what you don’t know.  It’s a blast to learn new things.  And, to save, or make money, along the way!

IT’S FUN AND PROFITABLE TO FLIPPING HOUSES!

Even if you have to hire out most of the work, Flipping Houses can be fun and profitable!  Because of the economy, properties are available in most markets at unheard of prices!  GO find them!  Put on your thinking cap and do your due diligence in finding inexpensive properties!  If you do, and you’re determined, smart, resourceful, likeable and can communicate well, there’s no limit to how much fun you can have, how much MONEY you can make, or how many people you can bless with a HOME!

Buying properties at a LOW price, then producing desirable homes to sell at a REASONABLE price is the KEY to success!  We all NEED a place to LIVE!  I wish you luck in all your endeavors! For more about Flipping Houses visit www.HouseFlipper1972.com

With the latest decline in economies worldwide, there has been a shift in the house flipping idea. Now house flipping includes making a profit on the spread in a pure wholesale transaction. This involves finding consumers trying to find homes to modernize or own and receiving an inventory of homes from distressed sellers at the lowest price. When you find yourself considering the flipping houses opportunity, its vital to keep in mind three tips that would aid your efforts.

1. Face to face Meetings

Business advancements such as the internet have taken a great deal of the human interaction from business. When the economies declined, more clients discovered themselves looking for the business interactions of the past, and one-on-one interaction became a necessity once more. When you’re entering the flipping houses market, on line communication and five minute telephone calls are not sufficient to attain the objectives you have set for your business. People long for attention and crave interaction. When you’re the individual feeding that need, you turn into a primary focus of these people when it relates to flipping houses. This places you in a prime location to maximize your efforts and make a considerable amount of cash.

2. Make Mistakes

People always say that mistakes linked to flipping houses can be catastrophic to a business effort. However, if you are afraid of making mistakes, you’ll be unable to discover new and more powerful means to excel in your business. The great thing about mistakes is that they teach you lessons in life and in business so that the next time you have a house flipping opportunity, you will be capable of managing the condition from experience. Experience is usually overlooked by many, but in the wholesale property market, your experiences and attitude will be your main weapon to help you succeed in your business efforts.

3. Find the Right Tools

When an individual sits down to do a job, it is usually essential that they have the right equipment to aid them in their efforts. When you access the best flipping houses books, you get precious tools and insights into the secrets of successful house flipping, plus checklists, resources, and sample documents to do it properly. With flipping houses books you will learn from the mistakes of others, and find out how you could increase your rates of success.

Of course, it is vital that you get the best flipping houses books on the market. You need no-nonsense, clear instruction from a real estate pro who is really making money flipping houses. Do not make the mistake of reaching for a generic, canned product.