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Summary
Summary
A NON-TRADITIONAL APPROACH TO REAL ESTATE
GETTING STARTED IN PROPERTY FLIPPING
The concept of property flipping is not new; in fact, it has been around for a very long time. The basic premise of flipping involves moving into an ownership position of a piece of property and then selling that piece of property for a profit--all in the shortest amount of time possible. Flipping can be applied to raw land, commercial, or industrial property, but those are more advanced endeavors. Getting Started in Property Flipping eases you into this arena by focusing the discussion on single-family residential property.
Written by acclaimed real estate investor and bestselling author Michael C. Thomsett, Getting Started in Property Flipping is an accessible introduction to this creative approach to real estate investing. Filled with real-world examples and practical advice, this book clearly shows you the many sides of property flipping and takes you through the process of defining whether or not flipping is an appropriate strategy for you. Getting Started in Property Flipping also provides you with valuable information on flipping strategies, approaches to valuing property, and a variety of other issues you need to become familiar with in order to achieve success.
Written from an investor's point-of-view, Getting Started in Property Flipping is a straightforward guide to a highly profitable field.
Author Notes
Michael C. Thomsett has written more than sixty books on investing, real estate, business, and management topics. He is the author of several Wiley books, including Getting Started in Real Estate Investing , J.K. Lasser's Real Estate Investing , and Real Estate Market Valuation and Analysis . Throughout the 1990s, he bought and sold numerous properties in Washington State, investing in real estate as a landlord and as a buyer of both long-term and fixer-upper properties.
Table of Contents
| Introduction: The Not-So-Typical Approach to Real Estate | p. vii |
| Chapter 1 From Their Money to Yours: Leverage and Cash Flow | p. 1 |
| Chapter 2 Getting In, Getting Out: Defining Your Entrance and Exit Strategies | p. 23 |
| Chapter 3 The Cast of Players: Scouts, Dealers, Retailers, and More | p. 45 |
| Chapter 4 The Ultimate Leverage Magic: Using Lease Options to Flip Property | p. 65 |
| Chapter 5 Conversion Strategies: From Flip to Hold | p. 81 |
| Chapter 6 Locating Your Opportunities: Where to Find Values | p. 99 |
| Chapter 7 Cost and Profit: What It Costs, What You Earn | p. 115 |
| Chapter 8 A Closer Look: Inspections and Appraisals | p. 137 |
| Chapter 9 Find the Money: Financing Plans for Flips | p. 151 |
| Chapter 10 Uncle Sam Steps In: Tax Rules for Flipping | p. 171 |
| Glossary | p. 193 |
| Index | p. 203 |
