Be a Real Estate Millionaire Home Study Course Review - Dean Graziosi
August 30, 2008 by admin · 3 Comments
You invest a small amount of money into a house, hold onto it for a little while, and then flip it for fast (and high) profits. Does that sound like something you’d be interested in? Of course! Who wouldn’t want the chance to make some income from something so fun? Dean Graziosi’s Be a Real Estate Millionaire course might be what you’ve been looking for.
The problem is that it can be hard to even thing about getting started flipping houses. Sure, you hear about people making money, but you might think the chances of you doing so are slim to none. Well – they’re not! According to real estate millionaire Dean Graziosi, your chances are actually very good that if you follow the home study course he has created you too can earn a lot of money from real estate.
Skeptical? There are actually many other home study courses out there, so what makes this one different? Well, the main difference that I can see is that this course actually gets great reviews. Instead of the usual “this is a scam” commentary you might find from other “make millions” real estate courses, you see praise and evidence that people are actually doing really well with Dean Graziosi’s methods. He has all of the usual high profile praise such as from Jack Canfield who says: Read more
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Is It Legal to Flip Houses? Staying Out of Trouble
August 29, 2008 by admin · Leave a Comment
Are you going to have to don a wig and dark glasses if you decide to pursue house flipping? Thankfully, the answer to that question is, no way! Why then, do so many people wonder if it’s legal to flip houses?
Part of the problem is that the practice has gotten a bad rap over the years. Okay, it’s not all bad as it is featured on popular TV shows. Even so, the idea that the general public has of house flipping is not always good.
It all started because of the mortgage crisis. There are so many people in turmoil because they can no longer (or never could) afford their houses. Since there ARE "bad" house flippers out there who took advantage of people it looks like flipping played a big role in the current mortgage crisis.
This even lead the HUD to look into things and lay the "smackdown" on scammy flippers. YES, it is illegal to screw people over when you flip a house. It is il legal for you to present things so that they look like they are worth more than they really are.
It IS legal for you to pay close attention to detail, do a great job on reconstructing a home, and selling it for a profit. Being honest is the way to stay ahead in this game for sure.
So don’t worry that you’re going to have the men in blue come knocking on your door anytime soon. They’ll stay away so long as you play by the rules. When you do that, you’ll never have to ask if house flipping is legal again 
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Lindsey Hunter Mortgage Fraud Scandal
Ralph R. Roberts is not new to chasing down those who try to fraud decent people out of money via mortgage scams. (He’s even written “Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership” available here.) He’s now investigated mortgage fraud allegations that involved Lindsey Hunter, a basketball player for the Detroit Pistons.
It seems that Mr. Roberts was alerted to a man named Bruce McClellan’s case about being defrauded by Lindsey Hunter’s company. Lindsey Hunter and company allegedly made false claims and may have committed mortgage fraud.
Mr. Hunter denies involvement. More can be found here
This story is making big news for a few reasons. Read more
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How to Flip Houses - Easy Get Started Guide
August 29, 2008 by admin · Leave a Comment
Learning how to flip houses is a goal that many people have these days. While people have been fixing up houses to sell them at a higher price for quite a while, it’s only been recently that it’s come into the limelight. For a new person it can seem daunting to get started.
First of all, it’s helpful to separate reality from TV. There are a few different television shows featuring house flippers. While there are real people flipping houses you can’t expect their success (or lack of it) to be what you experience.
Getting a realistic grasp on flipping houses is the first part of the process. You need to read all the information you can as well as talk with people who have successfully made money. If there is someone out there you can call your mentor you’ll already be far ahead of those who set out on their own.
Don’t worry, however, if you don’t personally know any house flippers. There are many resources and guides out there than can give you a great education in the process. Many of these, like Real Estate Millions, have been written by successful people who have been through all the ups and downs. They share their experience with you so you don’t have to worry about making mistakes.
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How to Flip a House - Tips You Need to Know
August 28, 2008 by admin · Leave a Comment
Welcome to the new Home Idea Guide house flipping website. Our mission is to create a one stop place where you can come to get information about getting started in the profitable world of house flipping. Learning how to flip a house get easier the more information you read.
Here is one article to get you started:
5 Things You Should Know Before You Flip A Property
1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intentions of making a huge profit only to find out that they could not make any money after all the renovations because the purchased price of the house was to high. When you purchase your property you need to be sure that you buy the house with enough money to make renovations, have carrying cost, and add about 5 $6,000. Now, cost is at $147,000, and that is if everything goes as planned. Profit is under 10,000 dollars. The mistake was made at the purchase at the home, not the sell.
2. Get an inspection on the home - Get a complete inspection done on your property. By, spending a few hundred dollars on this expense you can save thousands in problems that you cannot see. Foundation, Pest, Wood Rot, Etc… By, getting a full inspection you can rest assured that you know every thing that is wrong with the property before its to late. In the contact for the house you need to make sure that you have 7 days to have a inspection preformed, and if the inspection finds problems that are going to cost more money that you are willing to spend you can get out of the contract with no penalties.
3. Don’t do the work yourself: - Get a contractor or several sub-contractors and have the work done quickly. You need to have you house flipped ASAP, so that you can get it on the market and get it sold. When I started flipping my brother and me did a house together, and we did all the construction. I had a construction background and figured it would save thousands, but it took us over 4 months to get the work done that a contractor could have had the work done in a month. But, we trying to save money on our flip did all the work on our time off and after work, and it just took to long. On our 2′nd flip we used contractors for almost everything and had the house completely flipped with a new roof, new air conditioning, new hardwood, and much more in only 3 weeks. We did not have to spend all our time working on the property and were able to spend that time looking for the next deal. This is how you get rich in real estate.
4. Place the property 1 to 2 percent below market value: If you are wanting to flip real estate and make money the object is to buy and sell the property as quickly as possible, so that you can move on to the next house. If you purchase a house and try to sell it at top dollar to make and extra couple of thousand dollars on your flip, and end up holding it for 6 months you are loosing money. Get the house on the market at a price that is going to blow the competition away, and you will sell it no matter what the market conditions. On our second house the market for selling house went down do to the housing market as a whole, and the tightening of the loans across America. We were told that you could not sell a property in this market, but we went ahead anyway and flipped our house. After 3 weeks on the market we had 3 people wanting to buy the house. Why, because we offered it at such a great deal that people wanted to jump on it. That is what you have to do especially if the market is slow.
5. Use a real estate agent - Do not try to sell you house on your own. Harness the power of a real estate agent and the power of the MLS system. When you do a FSBO you are depending on people driving by your house and seeing you sign, with a real estate agent you have some one actively marketing you house to get it sold. Once again this will free up more time for you to look for more great deals. If you want to help the process I have found that craigslist and listing you house in google adwords help to, but I use these tools with the help of a agent to make sure I have all my bases covered.
I hope this article has been helpful with the basics needs of flipping a house. If you will study and learn you will make money. But, do your homework before you purchase a house, and make sure that you can pull a profit on your deal. Then, make it happen!
By: Chad Wiley
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Look forward to more tips on how to flip a house.
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