The Business of Flipping Homes: Short-Term Real Estate Investing for Long-Term Wealth

by William Bronchick, Robert Dahlstrom

Overview

Whether you're looking to make a career out of flipping homes or see it as a part-time venture, you can make fast money legitimately.

Before you get started, you need to know the right way to flip, regardless of local market conditions and current economic trends.

There's more to flipping than redoing a kitchen or staging a property. Every deal is different, and each investor must have a clear business strategy. Expert investors William Bronchick and Robert Dahlstrom have learned how to be successful in all types of markets—and now they share their secrets with you.

From the bestselling authors of Flipping Properties, which brought the term "flipping" to American households, The Business of Flipping Homes is an A-to-Z guide for both new and seasoned investors. The book explains what flipping is and isn't, goes beyond the investment of a basic single-family home, and demonstrates how to find, renovate, and sell properties using proven methods.

With more than 40 years combined experience in buying and selling investment properties, Bronchick and Dahlstrom explain how to avoid many of the pitfalls and issues that could drain your funds and come back to haunt you. They give systematic approaches on long-term planning, including how to find and work with partners, structure a business, and utilize your specific talents, resources, and aspirations in realistic ways. You'll learn how to figure out timelines, work with real-estate agents, understand the paperwork, analyze the numbers, utilize technology, and, most important, find the money.

Product Details

ISBN-13:	9781942952787
Publisher:	BenBella Books, Inc.
Publication date:	02/07/2017
Sold by:	Penguin Random House Publisher Services
Format:	eBook
Pages:	304
File size:	1 MB

About the Author

William Bronchick is a nationally known attorney, author and public speaker. He has trained people all over the country to become financially successful. He has shared the stage with names such as Rudy Giuliani, Steve Forbes, and Colin Powell. He has appeared on CNN, CSPAN and CNBC, and has been quoted by publications such as Time, Forbes, USA Today, and The Wall Street Journal. He is the co-founder of the Colorado Association of Real Estate Investors and the Executive Director of the College of American Real Estate Investors. Bronchick is a member of the Colorado and American Bar Associations.

Robert Dahlstrom is a well-known investor, entrepreneur and real estate broker. He holds an MBA and a BS in accounting. He has helped many small businesses as a marketing consultant and spent five years as the CFO of one of the nation's largest lead generation companies. He has been interviewed by national radio and print media and is a popular speaker/educator. He was a founding board member of the Colorado Association of Real Estate Investors and leader of its Northwest group. He has been personally involved in hundreds of transactions and worked with a group that has purchased over 4,000 foreclosures. Having built houses and duplexes from the ground up, Dahlstrom is an expert in finding and assessing potential purchases, estimating expenses and managing the rehab process through the sale.

Table of Contents

Introduction ix

Part I Getting It Going

Chapter 1 Flipping Explained 3

Chapter 2 The Basics of Real-Estate Transactions 11

Chapter 3 Finding Deals 19

Chapter 4 Using Social Media 41

Chapter 5 Analyzing Deals 49

Chapter 6 Funding Deals 63

Part II Knowing the Details

Chapter 7 Contracts and Agreements 73

Chapter 8 Foreclosures 87

Chapter 9 Wholesaling 87

Chapter 10 Contract through Closing 105

Part III Getting to Work

Chapter 11 The Rehab: Planning It 117

Chapter 12 The Rehab: Doing It 135

Chapter 13 The Rehab: Managing It 151

Chapter 14 The Rehab: Staging It 171

Chapter 15 The Rehab: Selling It 183

Part IV Minding Your Business

Chapter 16 Success in a Changing Market 197

Chapter 17 Liability Issues 209

Chapter 18 Tax Issues Involved in Flipping Properties 215

Chapter 19 The Business Side of Flipping 223

Appendix 233

Index 283

Acknowledgments 291

About the Authors 293

Editorial Reviews

"A must-read for anyone who wants to learn how to generate serious wealth in the new economy."
—Dr. Albert Lowry, PhD, New York Times bestselling author

"In The Business of Flipping Homes, William Bronchick and Robert Dahlstrom provide you with all you need to know to move properties quickly, legally, and ethically. If you're looking for a way to diversify through real estate, I'm a fan of their work, and this book."
—Wes Moss, host of Money Matters and author of You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees

From the Publisher