4 Ways to Cash In on Flipping Real Estate
There’s more than one way to cash in on the current market by flipping real estate. Regardless of your area, whether or not you have any cash or credit and how much time you have to devote to flipping real estate there is a strategy that will work perfectly for your situation. Let’s take a look at 4 of your options…
1. Contract Flipping
Contract flipping is perhaps the easiest form of flipping real estate. You’ll never have to take out a bank loan, use your own credit or worry about fixing up the place. This involves simply putting attractive deals with big discounts under contract and assigning those contracts to someone else who will do all the hard work.
2. Wholesaling Real Estate
The next level up is to find great deals lock them down and then move them quickly at big discounts to other investors who will rehab or rent them out. This is the buy low, sell low strategy for flipping real estate. It may give you a little more control and bigger profits than simply assigning contracts but it still offers a way to cash in without needing lots of cash or credit.
Rehabbing has long been a favorite American past time and perhaps made most famous by the crew of Flip This House and reality TV. Buy them, clean and fix them up and resell to individuals looking for a new home, vacation home or other investors looking for rentals. If you don’t have stacks of cash for renovations yourself you will need a rehab loan or access to credit for the materials you need and must be careful to know exactly what you are getting into before you close.
4. Repackaging for Investors
There are many investors who want things the easy way and are willing to pay a premium for less work. This can mean buying and flipping real estate as turnkey rentals, fractional ownership opportunities or perhaps even condotels.