Real Estate Flipping is Not a Bird Dog Strategy – Lesson 12

Flipping real estate is not a strategy you will typically use as a “Real Estate Bird Dog” because it involves buying a property.

All that flipping Real Estate means is buying a property and then reselling it quickly, as compared to buying a property and holding on to it long term as a rental. Flipping comes in several varieties, but the most common is to buy it, fix it, and flip it.

With the good, old “fix ‘n flip” approach you buy a property that needs work, fix it up, then sell it on the “retail” market, that is, to someone who will live in the house.

This is a proven approach that is tried and true and works very well. You can easily make $15,000 to $50,000 on a single deal.  It all depends on your real estate market and how good you are at bird dogging for good real estate bargains.

The risks with fix and flips is paying too much, underestimating repairs or holding on to the property too long. Be extremely conservative in your calculating your fix-up costs and the length of time it may take to resell. And, make sure you consider the cost of paying a real estate agent to sell the property (if you are using one).

On most of the houses I have flipped I started advertising them for sale the minute I started working on rehabbing them.

Compare flipping to wholesaling, where you do not buy the property and is a lower risk real estate investing approach.

Filed under: Real Estate Bird Dog Training • Real Estate Bird Dogs

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