How to flip houses for massive profits? Did you know that the average flip in 2019
profited more than $65,000? Oh, yeah. You heard that right. And that's just
not a Noelle fact. You can look this up on realtytrack.com I'm gonna tell you how
you can start flipping houses and make massive profits just like Noelle. Let's
go.
I'm going to share with you a step-by-step guide on how to flip houses and make money in
the process. I'm going to share with you the top 3 things that newbies do wrong when they're trying
to flip houses so you don't make those mistakes. And last but not least, I'm going to share with
you the biggest secret to making double the profit that most people do when they flip a house. So,
there are so many benefits to real estate investing. And flipping is an absolutely amazing
way to start making money in real estate. If you don't know flipping a house is buying a house at a
discounted price renovating that house, in other words, rehabbing it, painting it, fixing it up,
and then selling that house for a profit. Now, many people think that they know how to do this
because there are so many tv shows about flipping houses. I know you've seen them. In fact, this is
how I got in trouble. When I started investing in real estate, I loved watching those shows.
Those flipped this and flipped those shows. And I thought that I could do it too. So, in 2002-2003,
I started flipping houses in Atlanta with a full-time job. Mind you, I was in my early 20s,
I had a pretty good job working at a mortgage company. And there were people at the job
that were flipping houses. So, I thought, "I definitely can do this too." But I did not know
what I was doing. I was not the person that I am today. I never had any education in real estate,
I had never been to real estate school. I never flipped a house. I just started doing it and
doing what my co-workers did. Ugh! I made so many mistakes. But it was 2002, 2003, 2004 in Atlanta
and the market just kept going up and up. So, I always made money on my flips even though I made
every mistake in the book. However, in 2008-2009 when the market crashed and we lost our jobs,
I lost everything. I literally ended up back in my parents' basement broke, humiliated,
bad credit, multiple foreclosures, just a complete disaster. It was awful. However, you're looking at
me today so this story ends well. I did figure out how to start flipping houses the right way.
And today, I'm a millionaire. Let me show you how you can do it too. Let's get into that part. So,
the biggest mistake that I made and the mistake that you will not make is
you have to start with how much you pay for the house. That is so important. If you spend too
much money or you buy the house at the wrong price no matter how cheap you can fix the house or if
you fix the house yourself, you're not going to make the profits that you are intending to make.
You need to be very clear that when you are buying a house, you must buy it at a discount. In fact,
you really want to get the house at least a 30% discount. Meaning, if the house retail values for
$100,000, you cannot pay more than $70,000 for that house. You must get at least 30% discount
in order to make the profits that you want. I'm telling you, just as a rule of thumb. You really
want to get at least a 30% discount when you buy the house. But a successful flip starts way before
we're ever talking about granite countertops and stainless steel appliances. We really need to
get focused on how much we spend on the house and getting houses at a discount. This is the
important thing when it comes to flipping. So, let me tell you how to do that. So, really quickly,
you can get a house at a discount by finding someone with a property problem. In other words,
someone that's behind on their mortgage payment or maybe they inherited a house they don't want.
Or maybe they got relocated and they need to move. Maybe they got sick. Maybe the person is
elderly and needs to move into a convalescent type of home. There's all different type of
situations that you can get a house at a discount and help the person in the process. That's step 1.
You can advertise yourself or as a second option, you can find a wholesaler. Wholesalers are people
that already market to people that are having property problems. They get those properties
under contract and they market those properties to investors for the sole purpose of making money.
Wholesalers work with investors. They literally find properties at a discount for investors to buy
at a discounted price without having to find or talk to these people with property problems.
You can simply reach out to a wholesaler, get on their list, and start buying properties from
them because that way they will be at a discount. Step 2, now that you have the house at a discount,
you need to fund your rehab. And this is so important. You need to have the money to pay
for the renovation. In most of the cases we talk about finding a house that has a discount
and rehabbing the house in order to increase the value, this is a concept in real estate that we
call "forced appreciation". Meaning, we are going to force their appreciation, we are going to do
something to actively increase the value of that home. So, you need to find funding for this rehab
because you need to renovate the home in order to increase its value. Even if the house is kind of
nice inside, it could always be updated. It could have new paint, new carpet, new appliances. It
may not need a major renovation but you're going to have to rehab it and force that appreciation
in some way by increasing the value. There's tons of lenders out there that will lend for a rehab.
You can renovate it yourself using a hard money lender and they will provide the funding. Or you
can get a loan, maybe a business line of credit or a business credit card to fund your renovation.
This is what Noelle does and this is how I make a ton of money on my rehabs without spending my own
money. So, a quick point that we need to get into. I do not want you to do the renovation yourself.
Like I said if we're talking about making massive profits on a flip, you're going to have
a different role in the flip and it is not going to be doing the work. Doing the work yourself is
going to take too much of your time and it's not what you should be working on. In fact,
if you want to make massive profits in a flip, you should be doing multiple flips and finding
multiple properties at a discount, not doing the renovation yourself. So, just a piece of advice,
if you want to make massive profits on your flips probably shouldn't be doing the work yourself
unless you're a professional. The next step, you must stay on budget and on your timeline.
If you want to make massive profits in your flips, one of the things that I learned is that staying
on budget and working my timeline were key. For example, when you're putting together your flip,
you're going to say, "Okay, these are the renovations that I'm going to do. This is
how much each thing should cost. And this is how long it should take." You must stick to that. If
you need help, reach out to someone that already has done flips so they can help you with this.
This is where so many newbies really mess up. They blow their budget and they blow their timeline. Do
not do that. If you said you were only going to spend $600 on a refrigerator, make sure you only
spend $600 on a refrigerator. Don't go into the store and start buying nice or extra things. Stay
on your budget. Additionally, if you are supposed to finish that flip in 6 weeks, you manage it so
that you finish in 6 weeks. It's so important for your profits to stay on your timeline because like
I said, in the previous step, most likely you are financing your flip. And every day, you are paying
interest on the money that you have borrowed. So, it's pertinent that you stay on your budget
and on your timeline so that you have time to sell the house and still make the profits that
you outline. Number 4, watch your project. Oh, my gosh is this important. Like I said, because
you are not doing the work yourself and you have hired professional contractors to do your work
like I said, you need to make sure you manage that project. That is your role in the flip when it
comes to making massive profits. And someone that makes massive profits with their flips, I became a
manager of my project I went to my project, I started seeing what they were doing. I'm
making sure that they're working on what they're supposed to be working on. And they are staying
on their budget and on their timeline. When I was a failure and I ended up in my parents' basement,
I would only go see my projects on the weekends because I worked during the week. And sometime
my projects took way longer than they were supposed to because I was not managing it.
This is your role. When I started making massive profits in my flips, I was a hawk on my projects.
The next step. And this is so important is sell the house before it's finished. This is where
I started making a ton of money. I started being able to sell my flips before they were even done
and start creating interest in my flips before they were even done. And this is so easy to do
once you start taking it seriously as a business. You can start showing people (potential buyers)
the property before it's done. tTey may even have an opportunity to pick out the cabinets or
the countertops for example. So, now they have the experience like they're buying a new construction
home. Not only is this awesome and buyers flock to this. This is a way to attract even more buyers so
that you can create competition for your house. It is an amazing secret that I learned along the way.
Start selling the home before it's done. Again, you can put it in MLS with a realtor and list
it before it's done. Not necessarily what I recommend. But I do recommend you start selling it
on your own while the project is still going on. For example, you can market the property yourself
on Craigslist, Zillow on your own website. You can put it on Facebook, on all of your social media.
And you can start getting attention and attraction for your property before it's done. This is how
I sell my properties before the project is done and for more money. If you are loving this video,
please make sure you smash that like button and click that little subscribe button.
I need as many subscribers as I can possibly get because I want as many people to see this
message as possible. Make sure you are sharing these videos. This is great content and it's
absolutely free. I appreciate you. And the last step to making massive profits on your flips is
start finding a new house to flip while you have your other project going on. This is an amazing
thing that I missed out on. Flipping houses is an actual business if you make it a business. And one
of the things that you should be focusing on most of the time is finding houses at a discount. This
is what I told you. This is where the profits are. Because even if you don't flip the house, if you
found a house at a great price, you may be able to wholesale it to somebody else and make money.
Or that's your next flip. And now when you have that household, you have another one ready to go,
this helps you in 2 ways. One, you have a business so you always have projects and you can start to
have income that's always coming in from your flip. So, as you flip houses and start to do it
on a consistent basis, your lenders will lend you more money and they will lend to you a lot easier.
You will start to have financing partners and investors that want to give you money for your
flips. Like I said, success begets success. So, as you start to do something, you'll attract more
people to you that want to fund your flip. So now, that is more reason for you to make even
more money in your business. So, I have written an entire book that I have poured my heart into
and I'm giving it to you absolutely free. I'm going to teach you how you can flip houses in a
whole new book called Real Estate Millionaire Secrets and I'm giving this book to you absolutely
free. You just cover the shipping. Go to noellesfreebook.com. That's Noelle (n-o-e-l-l-e-s
like sam) noellesfreebook.com and check out my new book. I give you all of the information, all of
the guides, and all of the knowledge that you need to be successful. This is Noelle. To your success.