The Millionaire Real Estate Flippers (New Edition): Flipping Fixer-Uppers: How Anybody Can Buy, Fix and Flip Real Estate and Earn a Six Figure Income
Direct from the publisher
This Paperback Edition is specifically designed for easy study.
Book Details
Format: Paperback
Size: 8.5" x 11"
Pages: 306
Authors: M. Mitch Freeland and John Freeland
Publisher: Las Vegas Book Company
Edition: First Paperback Edition, September 2018
DISCOVER: How you can flip real estate and gain the edge toward financial freedom. It doesn’t have to be difficult.
The Millionaire Real Estate Flippers is an indispensable
resource book that shows you “How to” Force Appreciation and Flip Fixer-uppers to capture phenomenal profits.
M. Mitch Freeland and John Freeland know how to flip properties. With The Millionaire Real Estate Flippers they show you how to do the same with any property, in any market, in any economy—good or bad.
Explained by professional flippers and long-time investors, this book takes you into the field and up the ladder of real estate investing—flipping style. It exposes the good, the bad, and the rightfully ugly, from mild fixer-uppers to the massive “el dumpos,” and shows you what to look for and how to profit like the pros.
Let Mitch and John explain the nuts-and-bolts, strategies and methods used to secure a real estate profit plan. This book is the real “stuff” and it is destined to be among an investor’s closest companion….Guaranteed!
In The Millionaire Real Estate Flippers, you’ll learn how to:
§ Choose the best type of property starting out
§ Fix and renovate on the inexpensive side for maximum profit for small and large fixer-uppers
§ What materials to use and how to use them
§ Finance your properties quickly
§ Hire and manage contractors and sub-contractors efficiently, saving you thousands of dollars
§ Inspect property like a pro
§ Flip properties profitably every time
§ Make 50% + profit on every property you buy
§ Locate great deals and turn opportunities into cash cows
§ Substantially Increase value to property (what’s needed and what isn’t)
§ Price, list and sell your properties for tremendous profit
Short-term or long-term, seasoned pro or just starting out, The Millionaire Real Estate Flippers are to the serious real estate investor as ammunition to a soldier or water to a farmer. This book is a required read for everybody seeking financial freedom and belongs in the library of every real estate investor. And it’s on target to be a real estate classic!
Here’s a sampling from the Contents
INTRODUCTION
A New Beginning
Who Is This Book For?
Why Are We Uniquely Qualified to Write this Book?
How Do You Start on this Path of Flipping Real Estate
Another Why?
Understanding the Opportunity
CHAPTER 1: The Best Type of Property for You….
Advantages of Investing in Single Family Homes vs.
Other Types of Real Estate
Forced Appreciation Highlights for Choosing the Best
Type of Property for You
CHAPTER 2: Objective: Short-term or Long-Term….
How Many Properties to Reach Your Goal?
How Much Real Estate Do You Want to Own?
How Much Monthly Income Do You Want?
How do you Make Money in Real Estate?
How Do You Make Money With a Short-Term Objective?
Flipping
Short Sale
Quick Fix and Flip
Quick Fix and Rent Then Sell
Lease Option
How Do You Make Money With a Long-Term Objective?
Quick Fix and Rent
Hold Property
Inflation
Using Leverage for the Short and Long-Term
Short-Term Leverage
Long-Term Leverage
Forced Appreciation Highlights for Objective: Short-Term
or Long-Term
CHAPTER 3: Fix Up: Small Job or Large….
What are the Advantages of Small Fixers?
What are the Disadvantages of Small Fixers?
What are the Advantages of Large Fixers?
What are the Disadvantages of Large Fixers?
Forced Appreciation Highlights for Fix Up: Small Job
or Large
CHAPTER 4: How to Fix Economically….
Material Costs
Labor Costs
Doing It Yourself
Biggest Bang for the Buck
Where should you shop for inexpensive items?
Lowe’s and Home Depot
Wal-Mart
Sam’s Club and Costco
99 Cent Only, Family Dollar and Dollar General
Harbor Freight Tools
Lumber Liquidators
Sears
Distributors and Wholesalers
Barnett Pro Contractor Supplies
Castle Wholesalers
HD Supply Facility Maintenance
Grainger
Local and Regional Hardware and Specialty Stores
Nursery and Landscaping Supply Stores
Appliances: What appliances should you include with
the property?
Appliance Parts and Repairs
The Price for Convenience
Where to Start on the Fix Up
House Interior
Removing Garbage
Demolition
Functional Obsolescence
Kitchen
Remove All Old and Outdated Appliances
Counter Top
Cabinets and Base
Cabinet Knobs and Handles
Plumbing Hardware and Sinks
Lighting Fixtures
Paint
Flooring
Electrical
Appliances
How to Create a Great $2,000 Kitchen Rehab
How to Create a Great $4,000 Full Kitchen Rehab
Bathrooms
Tub and Shower
Sink and Vanity
Plumbing Hardware
Toilet/Tank
Towel Bars, Shower Rod and Paper Dispenser
Mirror and Medicine Cabinet
Lighting Fixtures and Fan/Lights
Paint—Bathroom
Flooring—Bathroom
Living Rooms, Dining Rooms and Family Rooms
Lighting
Paint
Electrical
Flooring
Master Bedroom and Bath
Lighting Fixtures
Paint
Electrical
Flooring
Closet
Crown Molding
Master Bathroom
Hallways
Lighting Fixtures
Paint
Electrical
Linen Closet
Utility Room
Paint, Electrical, Plumbing
Cabinets
Flooring
Clothes Washer and Dryer
Hardware
Door Hardware
Window Hardware
Doorstops
Window Treatment
Blinds
Drapes and Curtains
Air Conditioning and Heating Water Heater and
Smoke Detectors
Air Conditioning and Heating
Natural Gas Heating
Water Heater
Smoke Detectors
House Exterior
Roof
Paint
Windows
Painting Windows
Replacing Windows
Replacing Glass
Porch and Front Entryway
Porch Paint
Porch Light
Mailbox
House Numbers
Doorbell and Knocker
Welcome Mat
Driveway
Concrete
Asphalt
Brick Pavers
Stone Pavers
Gravel
Fencing
Wood Privacy Fencing
Picket Fences
Block Fences
Chain-Link Fences
Wrought Iron Fence
Aluminum Fence
Landscaping
Sprinkler System
Planters
Sod
Flowers, Decorative Plants and Shrubs
Trees
Landscapers and Landscape Architects
Forcing the Appreciation
Items That May Be Installed to Increase Appeal and Value
Missing or Damaged Items You May Not Need to Replace
It’s Your Money
Forced Appreciation Highlights for How to Fix Economically
CHAPTER 5: Flipping
What is Flipping?
What Kinds of Flips are There?
New Home Sales
Plain Flip
Quick-Fix and Flip
Wholesale Flip
What Problems can Arise?
Carrying Costs
It Needs some Seasoning
Unexpected Repairs
Forced Appreciation Highlights for Flipping
CHAPTER 6: Pricing for a Quick Sale….
Price it Right
It Must Be in Great Condition
Be Flexible with Terms
Work with Lenders and Mortgage Brokers
Hustle with Advertising
The Multiple Listing Service
Sell It Yourself with Open Houses
How to Determine Your True Net Profit
Forced Appreciation Highlights for Pricing for a Quick Sale
CHAPTER 7: Quick Fix….
What would an investment property typically look like as a
quick fix?
Landscaping
Paint
Flooring
Minor Repairs
Cleanliness
Inside and Out
Suit the Buyer
Forces Appreciation Highlights for Quick Fix
CHAPTER 8: Escrow & The Settlement Statement
The Escrow Process
Who can Hold Escrow?
All the Players
Negotiating after Inspection
What Is Your Responsibility?
Keeping Earnest Money
Accepting Offers with Contingencies
Buyer’s Financing Fails
Extending the Contingency Period
Copy of Rental Agreements and Permits to Buyer
The Settlement Statement
Reducing Settlement Costs
The Importance of Title Insurance
Forced Appreciation Highlights for Escrow & The
Settlement Statement
CHAPTER 9: Inspecting the Property….
What Should You Have With You When You Are
Conducting An Inspection
Exterior
What Do You Look for in A Quick Exterior Inspection?
A Detailed Inspection
Roof
Paint
Windows
Foundation
Structural Damage
Porch and Steps
Wood Rot
Termites
Chimney
Air Conditioning and Heating Units
Electric and Gas Meter
Landscaping
Planters
Irrigation System
Septic Tank
Interior
What Do You Look for In a Quick Interior Inspection?
Detailed Interior Inspection
Doors
Door Hardware
Paint
Windows
Water Damage
Electrical Box
Plumbing
Appliances
Counter Tops
Kitchen Cabinets
Floors: Kitchen, Bathrooms, Living Areas, Bedrooms
and Halls
Bathroom
Get an Extra Opinion
Inspection Checklist
Forced Appreciation Highlights for Inspecting the Property
CHAPTER 10: Five Rehabs from Start to Finish
Small Rehabs
Rehab One: 3/1
Discussion on Rehab Number One
Rehab Two: 2/1 Becomes 3/1
Discussion on Rehab Number Two
Rehab Three: 2/1 Becomes 3/1
Discussion on Rehab Number Three
Large Rehabs
Rehab Four: 2/1 ½ Becomes 3/2 with Efficiency
Discussion on Rehab Number Four
Discussion on Rehab Number Four: Garage conversion
Rehab Five: 3/1 Becomes 4/2
Discussion on Rehab Number Five
Forced Appreciation Highlights for Five Rehabs from Start
to Finish
CHAPTER 11: Parting Thoughts
Would You Like to Know More?
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INTRODUCTION
"Discipline yourself to do the things you need to do when you need to do them, and the day will come when you will be able to do the things you want to do when you want to do them!"
—ZIg ZIglar
Is it possible to make a six figure annual income flipping houses? How about $500,000 or maybe $1,000,000? Flipping houses does not have to be difficult. We have successfully flipped houses and multifamily properties in California and Florida, and in this book we will show you how you can too.
The real estate strategy of Buy, Fix and Sell, aka flipping fixer-uppers, is where an investor is implementing Forced Appreciation. Forced Appreciation is the core result of flipping fixer-uppers. In simple terms, by fixing or rehabbing an investment property, you are increasing the value of the property, in other words, forcing the appreciation.
With flipping properties using Forced Appreciation, beginning investors could profit from real estate 100% of the time. Your risk is limited and the profit potential high, when real estate is purchase at the right price.
Forcing Appreciation has been around a long time. First introduced by William Nickerson, in his book from 1959, “How I Turned $1,000 Into a Million in Real Estate in My Spare Time” he discusses his technique for fixing-up rundown property. This was the first major book of its kind that spelled it all out for the new type of real estate investor. This technique of creating value is nothing more than what we like to call Forced Appreciation—a term forgotten by the new breed, where you are forcing the appreciation of property by making “valued” repairs—repairs and updating which people, your buyers, want, like and appreciate. Repairs and renovations that present “value” to the end buyer are the necessary things that get your property sold for a nice price. The majority of the repairs, when done correctly, are not complex or overly expensive. They are, nonetheless, a solid investment that will increase value to your property and get you a healthy sales price.
Why We are Uniquely Qualified to Write this Book
We have been investing in real estate for a combined 38 years. We have purchased, fixed, flipped, rented and sold hundreds of single family homes, multifamily properties and apartment buildings. We have improved entire blocks and even neighborhoods using Forced Appreciation. Most properties were vacant, some abandoned and all in distress. Most of the projects undertaken were complete disasters and were considered major fixer-uppers. This is where the investor makes the most money with forced appreciation.
Our growth strategy was two-fold: (1) flipping fixers for quick cash flow; and (2) holding a portfolio of rental properties including duplexes, triplex, quads and smaller apartment buildings for long term growth and positive cash flow.
We have also invested in raw land (wholesaling), condos, and retail commercial property. We have wholesaled bundled flips to investors and have sold many post fixer-uppers to investors and happy owners and first time buyers.
As our flipping business grew