Find It, Fix It, Flip It! by Michael Corbett
Author:Michael Corbett
Language: eng
Format: epub
Publisher: Penguin Publishing Group
Published: 2006-03-18T05:00:00+00:00
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Each one of the fixes you perform on each one of these levels needs to meet these three requirements:
Increase value of the home from a buyer’s standpoint
Increase marketability of the home from your standpoint
Increase profitability of the home from your bottom line’s standpoint
Why Three Levels Just Aren’t Enough
Understanding all Six Levels of Improvements and incorporating them into your flip is the key to flipping success. The first three levels are the Fix-It Levels, the essential improvements that every flip house must incorporate. Most flippers start and stop right here. Statistics show that dollar for dollar, a break-even return is what you can expect on improvements. And that’s what most flippers get, or if they are lucky, a little more. Where the beginning flippers and the get-rich-quick gurus stop, the pros and insiders continue. They incorporate the additional three Profit Level Improvements and transform an ordinary flip house into an extraordinarily profitable home with the promise of a lifestyle.
In an upward-moving market, these three levels will guarantee you the big profits. In a downward-moving market, as novices fall by the wayside, they can keep you in a winning position and maximize your cash-out. And, if you are selling the house you live in, you especially need to use these techniques to recapture the equity that a softening market has eroded!
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