Many people are making money in Real Estate nowadays by investing in properties and then reselling them.
However before you can be a success at selling Real Estate there are some key things that you need to accomplish.
Make Sure You Have Perfect Credit Perfect credit gives you "credibility.
" No bank will trust a seller or broker with bad credit.
Your clients will be turned off by you if you have a bad credit report as well.
Furthermore your applications for mortgages will be routinely denied.
Collect Interest and Offer Cash You should never be the borrower when it comes to a Real Estate transaction.
You must be the individual that has cash on hand to give to people who need to sell houses.
Never Use Your Own Money The most successful people in the business never use their own money to close a Real Estate deal.
They make the most money by selling houses they have bought for pennies on the dollars.
You should especially never take equity out of your own assets to get into the Real Estate business.
You could turn into a desperate seller who is holding equity in a property that nobody wants to purchase! Know the Laws The worst mistake that many new property flippers make is neglecting to research the laws.
Make sure you know the legalities behind what it takes for you to become a broker or middleman for foreclosed houses.
Don't take shortcuts and don't give your sellers or buyers legal advice or you could end up in court.
As you can see it is a good idea to educate yourself as you are only as good as what you know when you get into the property flipping business.
Be sure to subscribe to blogs, ebooks and ecourses to stay abreast of changing laws and trends.