Flipping Houses For Dummies®

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1. Table of Contents
   1. Cover
   2. Introduction
      1. About This Book
      2. Foolish Assumptions
      3. Icons Used in This Book
      4. Beyond the Book
      5. Where to Go from Here
   3. Part 1: Getting Started with House Flipping
      1. Chapter 1: Brushing Up on the Basics
         1. Grasping the Concept of Flipping
         2. Flipping Legally and Ethically
         3. Determining Whether You Have What It Takes to Flip
         4. Devising a Reliable Flipping Strategy
         5. Building an All-Star Team
         6. Finding and Buying a Flippable House
         7. Rehabbing Your Fixer-Upper
         8. Profiting from Your Venture
      2. Chapter 2: Do You Have What It Takes to Flip?
         1. Tabulating Your Time Budget
         2. Shaking Your Piggy Bank
         3. Taking Your Personality Pulse
         4. Gathering the Essential Tools of the Trade
      3. Chapter 3: Devising an Effective Flipping Strategy
         1. Surveying Different Strategies
         2. Drawing Up a Detailed Plan in Advance
         3. Plan B: Surviving a Flip That Flops
      4. Chapter 4: Building Your Dream Team
         1. Teaming Up with a House Hunter — a Quality Real Estate Agent
         2. Recruiting Moneymen (and Women)
         3. Consulting a Title Company and an Insurance Agent to Cover Your Back
         4. Locating a Valuable Appraiser
         5. Adding a Real Estate Lawyer to the Roster
         6. Lining Up a Home Inspector
         7. Hiring Contractors and Subcontractors
      5. Chapter 5: Securing the Funds to Fuel Your Flips
         1. Recognizing the Importance of Being a Cash Buyer
         2. Tapping Your Own Resources for Cash
         3. Leveraging the Power of Other People’s Money
         4. Using Conventional Financing (for Longer-Term Real Estate Deals)
   4. Part 2: House Hunting with an Eye for Flipping
      1. Chapter 6: Scoping Out a Fertile Neighborhood
         1. Pinpointing House Flipping Hot Spots
         2. Sizing Up the Local Real Estate Market
         3. Comparing Neighborhoods
         4. Considering Other Neighborhood Factors
      2. Chapter 7: Hunting for Houses in Your Target Area
         1. Focusing Your Search on Affordability
         2. Digging Through Property Listings, Ads, and Publications
         3. Mining Special Markets for Dontwanners
      3. Chapter 8: Closing In on Foreclosure Properties
         1. Getting Up to Speed on the Foreclosure Process
         2. Brushing Up on Local Rules and Regulations
         3. Picking Your Point of Entry into the Foreclosure Process
         4. Purchasing Foreclosure Properties Step by Step
         5. Advertising to Generate More Leads
      4. Chapter 9: Scoping Out Properties in Special Markets
         1. Acquiring Properties in Probate
         2. Scooping Up Bargains in Bankruptcy
         3. Finding Government-Owned Properties
         4. Buying Properties at Tax Sales
   5. Part 3: Evaluating Properties and Crunching Numbers
      1. Chapter 10: Researching Distressed Properties
         1. Creating a Property Dossier
         2. Checking Out the Property
         3. Following the Paper Trail
      2. Chapter 11: Inspecting the Property and Estimating Rehab Costs
         1. Packing for Your Inspection Mission
         2. Finding the Perfect Candidate for a Quick Makeover
         3. Assessing Potential Curbside Appeal
         4. Taking a Big Whiff, Inside and Out
         5. Inspecting the House for Big-Ticket Items
         6. Discovering Some Promising Features
         7. Arriving at a Ballpark Figure for Repair and Renovation Costs
      3. Chapter 12: Calculating Your Profit and Maximum Purchase Price
         1. Doing the Math to Ensure a Profitable Flip
         2. Estimating a Realistic Resale Value
         3. Accounting for Expenses
      4. Chapter 13: The Art of Haggling: Negotiating a Price and Terms
         1. Planting the Seeds for Successful Negotiation
         2. Making an Offer They Can Refuse (But Will Consider)
         3. Tending to the Details: Inspections, Appraisals, and Walk-Throughs
         4. Closing the Deal
   6. Part 4: Fixing Up Your Fixer-Upper
      1. Chapter 14: Prioritizing and Planning Your Renovations
         1. Developing an Eye for Home Improvements
         2. Prioritizing Your Projects
         3. Delegating Duties
         4. Drawing Up a Tentative Budget
         5. Coming Up with a Game Plan
      2. Chapter 15: Giving Your Property a Quick Makeover
         1. Sprucing Up the Yard
         2. Freshening the Façade
         3. Touching Up the Interior
      3. Chapter 16: Perking Up the Curb Appeal
         1. Revitalizing the Landscape
         2. Tidying Up the Driveway and Walkways
         3. Making Entryways More Inviting
         4. Refreshing the Outside Shell of the House
         5. Glamming Up the Garage
      4. Chapter 17: Dazzling the Crowds with Updated Kitchens and Baths
         1. Giving Kitchen Cabinets, Countertops, and Sinks a Facelift
         2. Modernizing Kitchen Appliances
         3. Updating the Bathrooms
      5. Chapter 18: Tackling Moderate Makeovers
         1. Installing Replacement Windows
         2. Replacing Drab, Weathered Doors
         3. Putting on Your Own Floor Show
      6. Chapter 19: Reconfiguring Spaces and Other Structural Overhauls
         1. Attending to Essential Structure and Infrastructure Repairs
         2. Fiddling with the Floor Plan … or Not
         3. Identifying Load-Bearing Walls
         4. Maximizing the Use of Existing Space
         5. Building New Rooms from Scratch
         6. Adding a Deck or Patio
   7. Part 5: Cashing In: Realizing Your Profit
      1. Chapter 20: Considering Your Options: Cash or Cash Flow?
         1. Setting a Goal: Cash or Cash Flow
         2. Cashing Out: Selling the Property
         3. Exploring Cash-Flow Possibilities
      2. Chapter 21: Marketing Your Home
         1. Harnessing the Power of a Real Estate Agent to Market and Sell Your House
         2. Setting an Attractive Asking Price
         3. Staging a Successful Showing
         4. Offering to Help Secure Attractive Financing
         5. Becoming a Real Estate Marketing Maven
      3. Chapter 22: Negotiating the Sale to Maximize Your Profit
         1. Comparing Seemingly Similar Offers
         2. Mastering the Art of Counteroffers
         3. Shuffling Papers and Other Legal Stuff at Closing
      4. Chapter 23: Trudging through Some Taxing Issues
         1. Estimating the Tax Man’s Take from Your Flipping Profits
         2. Maximizing Tax Savings from the Sale of Your Principal Residence
         3. Slashing Your Capital Gains through Careful Deductions
         4. Deferring Taxes: Rolling Your Gains into Your Next Purchase
         5. Selling Your Home at a Loss (Ouch!)
         6. Paying Income Tax: When Flipping Houses Becomes Your Occupation
   8. Part 6: The Part of Tens
      1. Chapter 24: Ten Ways to Find Dontwanners
         1. Cruising the Neighborhood
         2. Teaming Up with a Great Real Estate Agent
         3. Checking Classified Ads and Online Listings
         4. Skimming Foreclosure Notices
         5. Monitoring Tax Sales
         6. Scoping Out Bank-Owned Properties
         7. Probing Probate Properties
         8. Digging Up Houses in Bankruptcy
         9. Sifting through the Government’s Stash
         10. Networking and Advertising for Leads
      2. Chapter 25: Ten Signs of a Great House Flipping Opportunity
         1. The Location Is an Obvious Hot Spot
         2. Nobody’s Home
         3. The “For Sale By Owner” Ad Is Shrinking
         4. The Seller Is Highly Motivated to Be Freed from the Burden of Ownership
         5. The House Is Ugly Outside
         6. The House Is Ugly Inside
         7. The Decor Is Outdated
         8. The House Has Character
         9. The House Has Undeveloped Living Space
         10. The Property Backs Up to Nothing
      3. Chapter 26: Ten House Flipping Blunders
         1. Falling for a Scam
         2. Speculating on the Housing Market
         3. Waffling on an Obviously Good Deal
         4. Backing Yourself into a Contractual Corner
         5. Failing to Inspect the Property before Closing on It
         6. Assuming the Title Is Clear
         7. Underestimating the Cost of Repairs and Renovations
         8. Doing Shoddy Work to Save Money
         9. Over-Improving a Property
         10. Forgetting to Pay the Taxes
   9. About the Authors
   10. Advertisement Page
   11. Connect with Dummies
   12. End User License Agreement

Guide

1. Cover
2. Table of Contents
3. Begin Reading