| List of Ways to Profit in Real Estate |
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MidshoreMoney.com
Member
Cash: $ 4.15
Posts: 20
Joined: 10 Feb 2007
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| List of Ways to Profit in Real Estate |
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Reading through the Real Estate stream I've noticed that alot of people have tips on how to profit from Real Estate. So, in the spirit of organisation, I would like to invite you to add a short description of ways to make money in Real Estate.
Example:
Flipping: buy fixer-upper property at bargain price, fix problems, and sell at market price for profit.
Pros: profit margins are usually high if expenses and profits have been properly calculated
Cons: carrying costs, lots of work (usually construction) involved so requires knowledge, difficulties selling, and fall of market threaten this "get rich quick" scheme
So lets build a list! Make it short but make it complete.
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Tue Feb 13, 2007 4:54 pm |
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Bid-Palace
Full Member
Cash: $ 4.21
Posts: 74
Joined: 17 Mar 2004
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Assigning Contracts.
Acquiring a contract through assignment and selling that contract to another investor that is able to close. This can be looked down upon, especially if have a contract with the seller, don't close yourself, assign the contract for a fee but the investor you assigned to doesn't close.
You can lose contacts and source of wholesales if you do this.
However if you have reliable, credible and honest investors on the other end whom you have a good relationship to assign to, then I think this is gold.
You do put in earnest money so it's a gamble investment on your end but can have huge benefits if you have an investor ready to buy before you put any money down. This is also called bird-dogging but this is the legal way.. the law differs depending on the State but in Texas, there are more restrictions.
I hope that helps..
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Wed Feb 14, 2007 12:26 am |
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