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Not just another house flipping book
You can find plenty of books about flipping houses that claim "anyone can do it." Flipping Houses For Dummies takes a different approach—honesty. We don't claim that flipping houses is "easy" or "simple" or "risk-free," because, quite frankly, it isn't.
Flipping Houses For Dummies reveals the risks and rewards of flipping properties; helps you determine whether you have the time, energy, cash, and other resources to be successful; and then conveys the expert knowledge that those who wish to pursue house flipping need in order to minimize risk and maximize potential profits in a very competitive market.
- Negotiating strategies to close deals faster
- Mortgage myths in the new economy
- Time- and money-saving tips for making every day and every dollar count
- New strategies for scoring bank-owned and foreclosed properties
- Quick makeover solutions on everything from curb appeal to kitchens and bathrooms
Flipping Houses For Dummies provides plenty of examples of successful and not-so-successful property flips, presenting the total investment (in time and money), the work involved, and the net profit. If you're ready for hard work and big profits, start flipping!
- Sales Rank: #21492 in Books
- Published on: 2014-01-28
- Original language: English
- Number of items: 1
- Dimensions: 9.30" h x .72" w x 7.40" l, 1.18 pounds
- Binding: Paperback
- 384 pages
From the Back Cover
- Evaluate properties with an eye for flipping
- Calculate a purchase price that maximizes your ROI
- Focus on repairs and renovations that will give you the most bang for your buck
The definitive guide to making money by flipping houses
Thinking about flipping? If you’re interested in the idea but are skeptical about others’ claims that making money flipping houses is easy and risk-free, this book is for you. This updated edition of Flipping Houses For Dummies takes a fun yet no-nonsense approach to giving you savvy strategies for negotiating deals, modernizing properties for maximum profit, marketing your home, and much more — without losing your shirt.
- Laying the foundation — find out if you have what it takes to flip houses, devise an effective strategy, build your dream team, and secure necessary funds
- House hunting — find great neighborhoods to work in, get trusted advice on how to pick the perfect house, and get the scoop on foreclosures
- Crunching numbers — make every dollar count with time- and money-saving tips, get the lowdown on mortgages, and make spot-on profit projections
- Fixing up your fixer upper — discover quick makeovers that give you the biggest bang for your buck, from improving curb appeal to renovating kitchens and bathrooms
- Cashing in — get proven negotiating tips to close deals faster and maximize your profits
Open the book and find:
- How to put together a solid flipping strategy
- The best methods for securing funding
- The skinny on house hunting and neighborhood scoping
- How to close in on great deals with foreclosures
- Details on crunching numbers and evaluating properties
- How to make smart decisions about repairs and renovations
- Techniques for negotiating the sale of a home
- How to keep track of taxes and technicalities
About the Author
Ralph R. Roberts is a master at flipping houses, earning a profit even in the depressed real estate market in Detroit, Michigan. Roberts is recognized nationally for his success in real estate, particularly in the field of foreclosures. Joe Kraynak is a freelance author and writing consultant who has written and coauthored numerous books on a wide range of topics. He is a valued partner and advisor to many For Dummies authors.
Most helpful customer reviews
207 of 218 people found the following review helpful.
Another book by a Bankrupt Real Estate Guru.
By Kindle Customer
The primary author of the book, Ralph Roberts, filed for bankruptcy in June, 2012 in Detroit, MI. Not disclosing that fact is inexcusable. He has a website that still has a front page, but all the associated sites have been closed down. I sent an email to the contact from his website to query his bankruptcy, but the email was returned "undeliverable". I sent an email query to his co-author with no reply. To Mr. Robert's credit, he does mention to having lost property to foreclosure himself, but he buries the admission in the introduction with no further explanation or detail.
In addition to the omission of the author's bankruptcy, the book has one other glaring omission; the maxim that in real estate, never trust anyone. More politely put, trust but verify, then verify again. (Don't just trust my allegations above; jump on Google.)
I am a 20-year real estate investor specializing in foreclosures, both flipping and renting, and I've never been foreclosed, never filed bankruptcy, never even been late on a mortgage payment. If Roberts is advocating the conservative approach that has worked for me, then he's the wrong person to be penning the book because that's not what he does. If he's advocating the high-flying approach that brought him great success and fame, then he should also write an epilogue about bankruptcy and personal foreclosure.
The target reader for this book is a beginning or intermediate investor, and that person needs to have a boots-on-the-ground approach. You can't learn that from a guru that does 100 deals per year. My maximum production as an individual investor was about nine properties per year (flipping about six each year and keeping three) and I can't see any one person doing much more than that. A beginner should be shooting for two per year. After a number of years that may be ramped-up with additional financing and a support team, but the investor wouldn't be reading this book at that point.
Although there is a lot of good information in this book, but there is a lot of outdated and impractical information as well. In acquiring foreclosed property, the process that I follow generally follows his outline, but the details are substantially different and in some instances contrary to his recommendations.
I'd give three stars for content as an entry level primer if it were not for the bankruptcy omission. That reduces my rating to a zero, but that's not an option, ergo the 1-star.
36 of 38 people found the following review helpful.
Great Advice from a RE investor
By Dr. Oceanfront
This book is really filled with great information, especially for someone new to flipping. I have been in RE and buying homes for awhile and I still found some advice that might have saved me a few more dollars.
His book is realistic about what is going on out in the market. He explains how to buy right, how to rehab the property and the how to sell it for a profit. Then also explains what pitfalls not to fall into. There is very important information in here, especially for the newbie.
Obviously discussed is how to make the most profit (goal has to be over 20%, or you could be setting yourself up for heartache).
Mr. Roberts also explains how to pick your house, how to clean it and what to detail, and of course to paint it...then sell it. This may sound simple, but there are many pitfalls you can fall into during this process, such as paying too much for the items you use to fix up.
Be smart, and do not be the person who makes all the beginner mistakes and overpays for a house. Read this book.
If this review helped you, please click the "helpful" button below. Thanks! :))
9 of 10 people found the following review helpful.
Telling it like it is, without the hype.
By Backbutton
Author obviously is very experienced and he tells it like it is, without the hype of the seminar givers on flipping houses. It is hard work to do it correctly, and author gives the pointers. Glad I bought this book over others to begin with. Very comprehensive.
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