"In order to be a successful house flipper, you have to be able to find good deals that can make you money on the flip. This means you have to weigh your purchase price and renovation costs against the future selling price. You also have to consider your financing costs, because the longer a house flip takes, the more interest you’ll have to pay, often on a hard money loan, which has higher costs than a conventional loan (for good reason).
Often, a “good deal” doesn’t come in the form of a lower purchase price, as your renovation costs (labor, supplies, and interest) can negate any sort of bargain you may think you got. Learning how to find deals is a learned skill.
Listen to house flipping expert Beau Eckstein as he talks about the critical component of being a good deal finder if you want to maximize your house flipping profits."
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