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The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties

The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties

Table of Contents: Foreword Introduction Why Did I Write This Book? 20 Steps to Your First Rehab Chapter 1: First Concepts What is House Flipping? Does Flipping Still Work in...

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Print Books

Binding

Spiral Bound

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Table of Contents:

Foreword

Introduction

Why Did I Write This Book?

20 Steps to Your First Rehab

Chapter 1: First Concepts

What is House Flipping?

Does Flipping Still Work in Today's Market?

How Much Can I Earn Flipping Houses?

What About Taxes?

Are You a Contractor or an Investor?

Controlling Your Deals

Part-Time House Flipping

Chapter 2: Get Your Financing In Order

First, The Bad News

Types of Real Estate Financing

Summary of Financing Options

Your Financial Resume

No Cash? No Credit? Know This!

Some Other Tips to Successful Borrowing

What About Creative Financing?

Chapter 3: Find Your Real Estate Agent

What Kind of Agent Do You Need?

Becoming Your Own Agent

Your License As a Secondary Income Stream

Chapter 4: Where Should You Buy?

Determining Your Farm Area

Analysing Potential Markets

My Farm Area

Chapter 5: What Should You Buy?

Distressed Properties

Retail Properties

The Foreclosure Process

Property Criteria

Level of Renovation

Chapter 6: Who Should You Buy From?

Purchasing From Owners With Equity

Purchasing From Absentee Owners w/Equity

Purchasing From Owners Without Equity

Purchasing Banks Owned Foreclosures (REO)

Purchasing Foreclosures at Auction (Trustee Sales)

Which Type of Seller is Right for You?

Chapter 7: How Will You Find Deals?

The Acquisition / Marketing Grid

The MLS

Online / Auctions

Direct Marketing

Advertising

Internet Marketing

Bandit Signs

Wholesalers

On-Site (Trustee Sales)

Other Marketing Techniques

Chapter 8: The Flip Formula

The Flip Formula

Determining Sales Price

Calculating Fixed Costs

Your Profit

Estimating Rehab Costs

Chapter 9: Looking at Properties

The 100 House Rule

Start Looking For Deals

Deciding Whether to Make An Offer?

Using Price Per Square Foot to Pre-Evaluate

Chapter 10: Making Offers

State Contract vs. Custom Contract

The 5 Big Contract Components

Negotiating Tips

Chapter 11: Your Due Diligence

A Cautionary Tale

Due Diligence Tasks

Run the Numbers Again

What if The Numbers Don't Work?

Purchase Checklists

Chapter 12: Create Your SOW

What is a Statement of Work (SOW)?

How Much (Or Little) Renovation Should I Do?

Over-Rehabbing

Under-Rehabbing

The 25 Renovation Components

Scope of Work: The Demo House

Chapter 13: Create Your Budget

Building Our Budget

Budget: The Demo House

Chapter 14: Create Your Schedule

Scheduling Components

Scheduling Rules of Thumb

Schedule: The Demo House

Chapter 15: Hiring Contractors

The Spectrum of Contractors

The Value of a Great Handyman

Creating Your Rehab Team

Finding Your Contractors

Your Contractor Paperwork

Employee or Independent Contractor?

Chapter 16: Managing Your Rehab

Chapter 17: Agent or FSBO?

The Value of a Good Agent

When To Consider "For Sale By Owner"

What About Flat Fee Listings?

Chapter 18: Staging

Deciding Whether to Buy or Rent Furniture

Top 16 Staging Tips

Chapter 19: Buyer Due Diligence

Preparing for the Buyer Inspection

Dealing With Inspection Issues

Handling Appraisals

Beware of Buyer Financing Traps

Chapter 20: The Closing

The Closing Process

10 Tips To Improve Your Closing Success



Jacket Description/Back:

ENTIRELY REVISED AND UPDATED!

Are you inspired to leave your 9-to-5 job and start flipping houses? Written by expert real estate fix-and-flipper J Scott, this revised edition of the best-selling book details a step-by-step plan to succeed in your first--or next--house flip. Find a great investment, learn how to fix it up, and walk away with a profit.

In this completely revised and updated edition, you'll find new explanations on the ins-and-outs of flipping real estate in any part of the economic cycle, more options on how to finance your flips, and a focus on larger renovation projects not previously discussed!

This no-fluff book contains a detailed flipping blueprint perfect for both the complete newbie or seasoned real estate pro looking to build a profitable house flipping business.

In this book, you'll discover how to:

    Implement the 7 most common and creative financing strategies Evaluate the profitability of deals quickly and accurately Determine the types of properties you should invest in Perform due diligence to ensure your deal is a winner Identify the best locations to build your flipping business Create a scope of work, budget, and schedule that generates profit Find and hire the best contractors to manage your rehab to completion Sell the renovated property quickly and at the highest possible price ...And so much more!

Learn everything you need to know to build a profitable, efficient house flipping business in a practical and easy-to-follow approach--all in one single book!



Commendation Quotes:

"When it comes to the house flipping business, there are only a few people I trust and J Scott is one of them. The Book on Flipping Houses is an excellent guide that can help you understand the inner workings of a very complex and lucrative business."


- Seth Williams, Founder of RETipster.com



Commendation Quotes:

"J Scott is one of the premier real estate investing writers in the industry. He has a knack for delivering top-notch content in a way that is easily understood by everyone. He backs up his writing with experiences in everything he writes about. This book is one of the best ever written on the subject of flipping houses. Highly recommended!"


- Mark Ferguson, Flipper, Landlord, and Creator of InvestFourMore.com



Commendation Quotes:

"I've been investing in real estate as a flipper and landlord for over 16 years, and this is the only book I'd recommend to teach flipping houses. J knows his stuff, and more importantly, he knows how to explain difficult concepts in a way that everyone can understand. If you are at all interested in flipping houses, buy this book. You won't regret it."


- Chad Carson, author of Retire Early With Real Estate & coachcarson.com



Commendation Quotes:

"This book is not about motivating you and then leaving you hanging. Instead, it is packed with real-world advice, written honestly with both the good and the bad. If you are looking for all of the things you need to know, whether you are starting your first flip or your hundredth, this book is THE Book on Flipping Houses!"


- Brian Burke, President/CEO of Praxis Capital Inc. and has flipped over 500 homes



Commendation Quotes:

"Learn the step-by-step process of house flipping from the best in the business. This book is the perfect blend of fix-and-flip concepts, tactics and real-world examples."

--Joe Fairless, author of Best Ever Apartment Syndication Book


"This book is not about motivating you and then leaving you hanging. Instead, it is packed with real-world advice, written honestly with both the good and the bad. If you are looking for all of the things you need to know, whether you are starting your first flip or your hundredth, this book is THE Book on Flipping Houses!"

--Brian Burke, President/CEO of Praxis Capital Inc. and has flipped over 500 homes


"I've been investing in real estate as a flipper and landlord for over 16 years, and this is the only book I'd recommend to teach flipping houses. J knows his stuff, and more importantly, he knows how to explain difficult concepts in a way that everyone can understand. If you are at all interested in flipping houses, buy this book. You won't regret it."

--Chad Carson, author of Retire Early With Real Estate & coachcarson.com


"When it comes to the house flipping business, there are only a few people I trust and J Scott is one of them. The Book on Flipping Houses is an excellent guide that can help you understand the inner workings of a very complex and lucrative business."

--Seth Williams, Founder of RETipster.com


"J Scott is one of the premier real estate investing writers in the industry. He has a knack for delivering top-notch content in a way that is easily understood by everyone. He backs up his writing with experiences in everything he writes about. This book is one of the best ever written on the subject of flipping houses. Highly recommended!"

--Mark Ferguson, Flipper, landlord, and creator of InvestFourMore.com



Description for Sales People:
The first edition of this book sold more than 50,000 units, plus 6,000 units on Kindle.

Brief Description:
This no-fluff book contains detailed, step-by-step training perfect for both the complete newbie or seasoned pro looking to build a killer house-flipping business. In this book you'll discover: --How to get financing for your deals, even with no cash and poor credit! --How to evaluate a potential market or "farm" area! --What types of properties you should buy, where and from whom! --How to find great deals from motivated sellers! --How to evaluate deals quickly and accurately! --How to make competitive offers and complete your due diligence efficiently and effectively! --How to create a Scope of Work, a Budget and a Schedule! --How to hire the best contractors and manage your rehab to completion! --How to get your properties under contract for top dollar! --How to get your property to the closing table as efficiently as possible so you can collect your check!

Publisher Marketing:
More than 175,000 copies sold

Turn distressed properties into consistent profits without getting burned by bad deals, unreliable contractors, or market downturns.

Successful house flipping is about having the right system--one that helps you identify profitable deals, manage renovation efficiently, and sell properties quickly regardless of market conditions. When you know what to look for and how to execute properly, this "risky" real estate strategy becomes a reliable wealth-building vehicle instead of a gamble.

This highly-rated guide comes from an expert who has hands-on knowledge of flipping houses at scale. J Scott has transacted over $60 million in property nationwide--buying, building, rehabbing, selling, and lending across multiple markets and economic cycles. As the author of four BiggerPockets books with over 375,000 copies sold, J Scott gives you everything you need to build a profitable and efficient house-flipping business.

With this book, you'll master every phase of the process:

  • Build your foundation: Set up financing, find the right agents, and establish your business structure
  • Hone in on your market: Identify profitable neighborhoods and property types using tried and true analysis techniques
  • Acquire profitable deals: Source on- and off-market properties through MLS, auctions, direct marketing, and wholesale networks
  • Master the flip formula: Calculate renovation costs and profit margins with precision for any market
  • Plan and execute the project: Create detailed scopes of work, budgets, and schedules that keep renovations on track
  • Manage contractors: Build reliable teams, negotiate fair contracts, and avoid costly delays
  • Sell for top dollar: Stage properties effectively and navigate buyer due diligence to maximize sale prices
With the right knowledge in your tool belt, you'll feel empowered to find a great investment property, fix it up, and walk away with profit! Find opportunities in the ever-changing nature of housing markets and start building wealth today.




Contributor Bio:Scott, J
J Scott spent much of his early career in Silicon Valley, where he held management positions at several Fortune 500 companies, including Microsoft and eBay. In 2008, J and his wife Carol decided to quit their corporate jobs, move back East, start a family, and focus on real estate investing. In the past ten years, they have bought, built, rehabbed, sold, lent-on and held over $60M in property all around the country. J is also the co-host of The BiggerPockets Business Podcast and the author of four books on real estate investing, which have sold over 200,000 copies and have helped investors from around the world get started with real estate. J and his family currently live in Sarasota, FL.


Author: Scott, J
Publisher: Biggerpockets Publishing, LLC
Binding: Paperback
Pub Date: 2019-01-17
BISAC: Business & Economics|Real Estate|Buying & Selling Homes|Business & Economics|Personal Finance|Investing|Business & Economics|Project Management
Subjects: Flipping (Real estate investment)|Real estate investment|House buying|House selling|Real estate business|BUSINESS & ECONOMICS / Real Estate / Buying &
Weight: 0.85 lbs
ISBN: 9781947200104
ASIN: -
SKU: SP-9781947200104

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