To flip or not to flip

It seems that everyone wants to be in the flip business and reap great rewards! However, it is not as easy as one might think. I have done 100’s of flips and know that while flipping can be fun and produce great profits, if not done right it can lead to financial ruin.
Below are a few things that should be considered before launching into the flipping business. 1) Money. For example: In the Phoenix market an investor will need around $50K liquid in order to play. With the program Rooftop Investment is now offering, our private lender will look for 20-30% down and sometimes fix-up costs. So with the average price of homes selling between $150K-$200K, $50K should get you in.
2). Know the market. What types of homes are selling and where? The goal of flipping is to be able to sell in the end. If homes are not selling in a particular area, do not buy there. What the values are in that subdivision? For example, be sure to only use only “like” homes for comparables. Are the sold homes auction, REO’s, short sales, or retail sales? This is important to know to determine true value.
3). Construction cost. This can make or break an investor. This cost should be known before the inspection period is over. In the case of an auction property, an inspection period is not available. So the investor must know the costs before purchase. As a rule of thumb, this cost should be based on the “spread”. For example: if the investor has a $50K equity position, the construction costs should be somewhere between 15k-20K.
4). Closing cost. Closing costs are often over looked. The investor can get this cost from any Realtor. Realtors have a program that calculates the closing cost. All commissions and interest payments (if needed) should be included. Also, remember, investors are entitled to a discount. This will can save the investor $100’s.
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Brett young
Valley Realty
Owner/ CEO Roof Top Investment
Real Estate Investment
http://www.rooftopprofitmax.com/

If you are looking to start a business in real estate, there is a lot you will need to know. It is not difficult, but it does take time.
Learning to use the web and computers is a must. A year ago, I did not know much about internet marketing. Then, I read “The 4 Hour Work Week” and was so inspired, I actually applied it right away. Since then, I have launched 2 websites and have learned all about organic advertising (Free). This has helped my business soar to new heights. Getting information out is extremely important. If no one knows what you have, no one will buy it. Many people have great products, but no way to show it. The internet is a fast, effective and inexpensive way to market your business.
Hiring a consultant can also help you boost your business. Specialized consultants have the resources and knowledge to help you strategize the most direct line between where your business is today and where your potential can take you.
Disorganization is one of the fastest ways to fail. Make sure that all your systems are in place. As they say, “the devil is in the details”. Some simple streamlining can save you a great deal of time and money.
Thorough product knowledge is another key to success. You MUST be the expert. You need to know every aspect of your business. In my case, I have to be on top of many things; Purchase price, rent, tenant landlord laws, population of renters, market trends, rehab costs, just to name a few.
You will also need to have the right people around you. For example, when I interview Realtors there are several key things I look for; Product knowledge, professionalism when working with clients, experience in working specifically with investors, efficiency, communication skills and most of all attitude. In my mind, attitude is everything. I have no patience for negativity. I want solutions, not problems.
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Brett young
Valley Realty
Owner/ CEO Roof Top Investment
Real Estate Investment
http://www.rooftopprofitmax.com/

Making more money with us

Advanced Cash Flow VIP Academy and Rooftop Investment were created to help our members make money through investment property. We have developed several different money streams that can be taken advantage of.
The most straight forward method, of course, is buying real estate through our turn key system. Our system allows members to buy in a variety of areas, giving them the best opportunity to find investments that fit their portfolio goals. For example; Michigan homes run $25K or Less, Ohio $35K-$45K, and Arizona is around $40-150K. (All include rehab).
Private money is also available for these homes through our group. This allows members to maximize their investments and equity positions.
Our 1 up referral system is another way for our members to create income. This system allows members to make $1500 per referral, (after their first one) and $1500 on each and every one of their 1st referrals. Ten referrals equals $13,500, plus another $13,500 on all of their 1st sales! That is a total of $27,000 dollars! Not chump change!
We will soon have an educational site and a realtor program that will allow members to make even more money!
ACFVIPA offers our members support through our websites, phone calls, emails, and monthly meetings, held live and online. Our meeting are designed with an educational side and a referral support side. This means that members are welcome to bring guest to our meetings to learn about investing and all the benefits of membership.
Our goal is to help create 10,0000 millionaires! We hope to speak with you soon.
Our meet up site address is http://www.rooftopprofitmax.com/
Brett Young-Valley Realty

Marketing your property

It is a smart strategy to begin marketing your property before the rehab is finished. This will put you one step closer to cash flow.
Investment homes need to be rented ASAP. The perfect time to start marketing your property is around two weeks before the property is ready to be occupied.
Creating a document that has all the stats and pictures of you home is helpful. You can then quickly email your potential tenant a profile of your property. This will give the tenant a great look at your home and increase the change that he will rent it.
Another great way to show your home is by setting up a free web album with Google. This creates a link to a slide show of your property. Not only will this help with tenants, it is a good tool to use for insurance and appraisals.
Make sure you put an email address and phone number on your ad. You would not believe how many people forget to do this. The phone number should be the property manager’s and the email should be yours. If you do not want to use your primary email, you can create a new one. It is easy and free with providers like Google and Yahoo.
You can also set up a free website for your property in Gmail. The site will create a link that you can send out with your ad. This gives your viewer a chance to click the link and see your property and all your advertising.
Learning few simple steps will help you in renting or optioning your property a lot faster.

Brett Young-Valley Realty http://www.rooftopprofitmax.com/