The Everything Guide to Flipping Houses · an All-Inclusive Guide to Buying, Renovating, Selling (Everything®) by Williamson, Melanie -- Read -- Imperial Library of Trantor

Index

Title Page Dedication Table of Contents Top Ten Advantages of House Flipping Introduction 01 What Is House Flipping?

The Basic Essentials You Need to Know Identifying the Current Housing Market Short- and Long-Term Benefits Common Risks You Must Consider Four Most Common Mistakes People Make Recognizing Your Potential in Flipping

02 Getting Started

Understanding the Flipping Process Establishing Realistic Expectations Crafting Achievable Goals Making a Business Plan Setting Project Parameters Creating a Timeline

03 Securing Project Funding

Estimating Costs Creating a Budget Bank Financing Working with an Investor Funding the Flip Without an Investor Calculating Potential Profit Assessing Financial Risks

04 Developing Relationships in the Business

Doing Your Research How to Choose People to Work With Making Connections for Long-Term Benefits Real Estate Agents Banks and Investors Contractors Supply Companies Inspectors and Appraisers City Officials

05 Finding a Property

Choosing the Best Market for You What to Look for in Your Search Assessing a Property Home Inspections Working with an Agent Buying “As-Is”

06 Conducting an Exterior Inspection

Preparing for an Exterior Inspection Roof Garage Exterior Paved Areas Outdoor Structures Landscape Exterior Doors and Windows Walls Energy Considerations

07 Conducting an Interior Inspection

Preparing for an Interior Inspection Windows and Doors Walls, Ceilings, and Floors Specific Rooms Throughout the House House Utilities Environmental Concerns Energy Considerations Insects and Rot

08 Buying a Property

Negotiating a Price Common Negotiating Mistakes Discussing Terms Types of Sales

09 Types of Renovations to Consider

Deciding What Needs to Be Renovated Utilities Cosmetic Repairs Landscaping Outbuildings Appliances

10 The Renovation Process

Major Renovations versus Cosmetic Renovations Renovating with a Buyer in Mind Where to Start Working with Contractors What to Do Yourself The Importance of Documentation Ways to Save Money Without Cutting Corners

11 Green Options in Renovations

What Does It Mean to Be Green? Recycling and Repurposing Eco-Friendly Exteriors Roofing and Solar Panels HVAC Water Heating Systems Green Flooring Options Other Green Renovation Options Sorting Through Your Options

12 Working with a Realtor

Understanding the Selling Process Targeting Your Market The Cost of a Realtor Closing Costs to Consider Evaluating Offers Having a Plan B

13 Selling Without a Realtor

Know the Risks Before You Sell Learning How to Set a Price The Importance of Marketing Working with Landlords and Other Property Investors How to Sell a House Step-by-Step FSBO Services

14 Preparing to Stage the House

What Is Staging? Doing Your Research Know What Home Buyers Really Look For Preparing to Stage a Home Decorating the House Curb Appeal? What Not to Do When Staging

15 Staging Room by Room

Exterior Entryway Public Spaces Private Spaces Utility Spaces Unfinished Spaces Outdoor Entertainment Spaces

16 Marketing Your House to Sell

Strategies That Work Strategies to Avoid Creating Your Own Website Internet Marketing Creating Marketing Material Open Houses and Showings Developing a Practical Strategy

17 Managing Multiple Flips

Considering Locations Negotiating Several Contracts Organizing Multiple Timelines Supervising Multiple Budgets Recording and Paying Taxes Knowing When You Need Extra Help Creating a Brand Managing an Office

18 House Flipping Tax Requirements

Paying Property Taxes on Flipped Real Estate Working with an Accountant How House Flipping Affects Income Taxes The Real Costs of Doing Business

19 Legal Regulations

Legalities of Buying and Selling FHA Anti-Flipping Regulations Local Regulations to Consider Building Permits Partnership and Investor Contracts Disclosure Statements Beware of Housing Scams and Mortgage Fraud

20 Facing Risks Head-On

Planning for Major Expenses or Renovations Unexpected Repairs Unforeseen Expenses Contractor Fails and Mistakes Vandalism and Theft Other Potential Risks When Your House Does Not Sell Quickly

Appendix A: Staging Checklist Appendix B: Inspection Checklist Acknowledgments Copyright