Cover image for The everything guide to flipping houses : an all-inclusive guide to buying, renovating, selling
Title:
The everything guide to flipping houses : an all-inclusive guide to buying, renovating, selling
Author:
Williamson, Melanie, 1981- , author.
Publication Information:
Avon, Massachusetts : Adams Media, [2015]
Physical Description:
303 pages : illustrations ; 24 cm.
Summary:
Williamson provides a step-by-step guide to help you find, fix, and flip residential property. She walks you through the opportunities, the risks, the work involved, and the potential for real profits, from purchase to making the sale.
General Note:
"Includes step-by-step legal and tax guidance"--Cover.

Includes index.
Language:
English
Contents:
Top ten advantages of house flipping -- Introduction -- What is house flipping? -- Getting started -- Securing project funding -- Developing relationships in the business -- Finding a property -- Conducting an exterior inspection -- Conducting an interior inspection -- Buying a property -- Types of renovations to consider -- The renovation process -- Green options in renovations -- Working with a realtor -- Selling without a realtor -- Preparing to stage the house -- Staging room by room -- Marketing your house to sell -- Managing multiple flips -- House flipping tax requirements -- Legal regulations -- Facing risks head-on.
ISBN:
9781440583780
UPC:
045079583788
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Item Holds
Searching...
HD255 .W546 2015 Adult Non-Fiction Open Shelf
Searching...
Searching...
HD255 .W546 2015 Adult Non-Fiction Non-Fiction Area
Searching...
Searching...
HD255 .W546 2015 Adult Non-Fiction Open Shelf
Searching...
Searching...
HD255 .W546 2015 Adult Non-Fiction Open Shelf
Searching...
Searching...
HD255 .W546 2015 Adult Non-Fiction Open Shelf
Searching...
Searching...
HD255 .W546 2015 Adult Non-Fiction Open Shelf
Searching...
Searching...
HD255 .W546 2015 Adult Non-Fiction Open Shelf
Searching...

On Order

Summary

Summary

Expert advice to find, fix, and flip any residential property!

Are you ready to capitalize on the rising real estate market and get in on the red-hot house flipping scene? You need a step-by-step guide to evaluate property, avoid rookie mistakes, and build a profitable, successful business. In The Everything Guide to Flipping Houses , successful house flipper Melanie Williamson walks you through the opportunities, the risks, the work involved, and the potential for real profits in flipping real estate. She teaches you to: Assess properties, work with contractors, and manage renovations Handle legal and tax regulations Flip multiple houses at one time Use green renovation options to keep costs low Select the right banks, investors, and real estate agents Choose marketing strategies that guarantee sales Inside you'll find detailed information for every milestone, from purchase to planning renovations to making the sale and managing profits. It's a competitive market out there, but with this guide in hand, you'll have everything you need to successfully flip any residential property--and reap the lucrative rewards.


Author Notes

Melanie Williamson is a successful house flipper, real estate professional, and writer. A member of the Lake Erie Landlord Association, Melanie has worked on twelve successful flips. The year after graduating from college, she successfully flipped her first house on her own, using the profits to pay off her student loan debt. Melanie's articles have appeared on several websites, including Angie's List, Realty Trust Services, and Education.com. She lives in Vermilion, OH.


Table of Contents

Top Ten Advantages of House Flippingp. 10
Introductionp. 11
01 What Is House Flipping?p. 13
The Basic Essentials You Need to Knowp. 14
Identifying the Current Housing Marketp. 16
Short- and Long-Term Benefitsp. 19
Common Risks You Must Considerp. 21
Four Most Common Mistakes People Makep. 23
Recognizing Your Potential in Flippingp. 24
02 Getting Startedp. 27
Understanding the Flipping Processp. 28
Establishing Realistic Expectationsp. 30
Crafting Achievable Goalsp. 32
Making a Business Planp. 34
Setting Project Parametersp. 37
Creating a Timelinep. 38
03 Securing Project Fundingp. 41
Estimating Costsp. 42
Creating a Budgetp. 43
Bank Financingp. 45
Working with an Investorp. 46
Funding the Flip Without an Investorp. 49
Calculating Potential Profitp. 50
Assessing Financial Risksp. 50
04 Developing Relationships in the Businessp. 53
Doing Your Researchp. 54
How to Choose People to Work Withp. 55
Making Connections for Long-Term Benefitsp. 57
Real Estate Agentsp. 58
Banks and Investorsp. 59
Contractorsp. 61
Supply Companiesp. 62
Inspectors and Appraisersp. 63
City Officialsp. 65
05 Finding a Propertyp. 67
Choosing the Best Market for Youp. 68
What to Look for in Your Searchp. 70
Assessing a Propertyp. 72
Home Inspectionsp. 74
Working with an Agentp. 75
Buying "As-Is"p. 77
06 Conducting an Exterior Inspectionp. 79
Preparing for an Exterior Inspectionp. 80
Roofp. 82
Garagep. 87
Exterior Paved Areasp. 89
Outdoor Structuresp. 90
Landscapep. 93
Exterior Doors and Windowsp. 94
Wallsp. 95
Energy Considerationsp. 97
07 Conducting an Interior Inspectionp. 99
Preparing for an Interior Inspectionp. 100
Windows and Doorsp. 101
Walls, Ceilings, and Floorsp. 103
Specific Rooms Throughout the Housep. 105
House Utilitiesp. 109
Environmental Concernsp. 113
Energy Considerationsp. 115
Insects and Rotp. 116
08 Buying a Propertyp. 119
Negotiating a Pricep. 120
Common Negotiating Mistakesp. 123
Discussing Termsp. 124
Types of Salesp. 125
09 Types of Renovations to Considerp. 129
Deciding What Needs to Be Renovatedp. 130
Utilitiesp. 132
Cosmetic Repairsp. 134
Landscapingp. 135
Outbuildingsp. 136
Appliancesp. 137
10 The Renovation Processp. 139
Major Renovations versus Cosmetic Renovationsp. 140
Renovating with a Buyer in Mindp. 141
Where to Startp. 142
Working with Contractorsp. 143
What to Do Yourselfp. 145
The Importance of Documentationp. 146
Ways to Save Money Without Cutting Cornersp. 148
11 Green Options in Renovationsp. 153
What Does It Mean to Be Green?p. 154
Recycling and Repurposingp. 155
Eco-Friendly Exteriorsp. 157
Roofing and Solar Panelsp. 158
HVACp. 159
Water Heating Systemsp. 162
Green Flooring Optionsp. 163
Other Green Renovation Optionsp. 165
Sorting Through Your Optionsp. 166
12 Working with a Realtorp. 169
Understanding the Selling Processp. 170
Targeting Your Marketp. 172
The Cost of a Realtorp. 173
Closing Costs to Considerp. 174
Evaluating Offersp. 176
Having a Plan Bp. 178
13 Selling Without a Realtorp. 181
Know the Risks Before You Sellp. 182
Learning How to Set a Pricep. 183
The Importance of Marketingp. 184
Working with Landlords and Other Property Investorsp. 185
How to Sell a House Step-by-Stepp. 187
FSBO Servicesp. 189
14 Preparing to Stage the Housep. 191
What Is Staging?p. 192
Doing Your Researchp. 194
Know What Home Buyers Really Look Forp. 195
Preparing to Stage a Homep. 196
Decorating the Housep. 198
Curb Appeal?p. 199
What Not to Do When Stagingp. 200
15 Staging Room by Roomp. 203
Exteriorp. 204
Entrywayp. 205
Public Spacesp. 206
Private Spacesp. 209
Utility Spacesp. 212
Unfinished Spacesp. 213
Outdoor Entertainment Spacesp. 214
16 Marketing Your House to Sellp. 217
Strategies That Workp. 218
Strategies to Avoidp. 219
Creating Your Own Websitep. 220
Internet Marketingp. 222
Creating Marketing Materialp. 224
Open Houses and Showingsp. 226
Developing a Practical Strategyp. 227
17 Managing Multiple Flipsp. 229
Considering Locationsp. 230
Negotiating Several Contractsp. 231
Organizing Multiple Timelinesp. 232
Supervising Multiple Budgetsp. 233
Recording and Paying Taxesp. 234
Knowing When You Need Extra Helpp. 235
Creating a Brandp. 237
Managing an Officep. 238
18 Mouse Flipping Tax Requirementsp. 241
Paying Property Taxes on Flipped Real Estatep. 242
Working with an Accountantp. 242
How House Flipping Affects Income Taxesp. 244
The Real Costs of Doing Businessp. 246
19 Legal Regulationsp. 249
Legalities of Buying and Sellingp. 250
FHA Anti-Flipping Regulationsp. 251
Local Regulations to Considerp. 254
Building Permitsp. 255
Partnership and Investor Contractsp. 256
Disclosure Statementsp. 258
Beware of Housing Scams and Mortgage Fraudp. 261
20 Facing Risks Head-Onp. 263
Planning for Major Expenses or Renovationsp. 264
Unexpected Repairsp. 265
Unforeseen Expensesp. 266
Contractor Fails and Mistakesp. 267
Vandalism and Theftp. 269
Other Potential Risksp. 270
When Your House Does Not Sell Quicklyp. 273
Appendix A Staging Checklistp. 275
Appendix B Inspection Checklistp. 279
Indexp. 291