Essentials on Flipping houses

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There are several things that we look for in a flip.
There are really TWO kinds of flipping:

A wholesale flip and a retail flip

Wholesale FLIPS are when you just get an option to purchase then wholesale the an investor who will fix them up.Possibly thefastest and easiest way to make money.

With a wholesale FLIP, build a buyer's list before you ever start looking ( a good place to do that is at the foreclosure auctions because they are all buyers). The buyers will tell you where they want to buy - then you just go find the deals.

Some wholesale buyers are rehabbers.Wholesale them properties that require more work than I want to deal with. ( ie. fire damage ore excessive repairs)

Retail Flips are when you buy the house and rehab it to sell to a retail buyer. Pay attention to location, location, location. Especially now that sub-prime loans are gone, You need a buyer who can qualify for an FHa or conventional loan. You can only attract those kinds of buyers in nice neighborhoods.

1) Location, Location, Location or really cheap, really cheap or really cheap.
2) Cosmetic fixes not structural. This includes cabinets, counter tops, vanity in bathroom ect. and NEW APPLIANCES FOR THE KITCHEN. Not moving walls or fixing foundations.
3) Kitchen returns 150% for every dollar spent WISELY!
4) Bathrooms returns 125% for every dollar spent WISELY!
5) Carpet
6) Paint
7) Landscaping- this is a must and it's not expensive your potential buyer will either pass by the house or love it before they even walk in.
Things I think make the biggest change in value:

#1). Landscaping -- Many flippers overlook this, but in my opinion -- Nothing can improve the look and value of a house like quality landscaping.

#2). Getting rid of popcorn ceilings and replacing with knockdown texture

#3). Putting on a new roof, if needed. It's not that expensive if you have the right contractor and priced it into your purchase price.

#4). Installing Ceramic tile in the kitchen and all the bathrooms. Don't be cheap with flooring!

#5). Using an upgraded carpet. Again, don't be cheap with the flooring and buy the crap landlord grade carpets. Pay a little extra for a cut berber or thicker carpet! Also, always pay for the extra thick pad to put under it.

Free Bank REO resources

Alot of millionaires have been made from the real estate business. Me being a novice in this, i am learning more everyday. I recently came across a list that i would love to share. Its a list of REO properties directly from different bank databases. Hopefuly this helps me and anyone else out there. Featured above is the Lamborghini gallardo superleggera. Just drove one last week. Its stupendous!


IndyMac Bank REO:
http://apps.indymacbank.com/individu...ate/search.asp

Countrywide
http://www.countrywide.com/purchase/f_reo.asp

HSBC
http://www.banking.us.hsbc.com/HICSe...ySearchDefault

Bank of America
http://bankofamerica.reo.com/search/

JP Morgan Chase Bank REO:
http://mortgage.chase.com/alt/altdel/REOSearch.jsp

M&T Bank REO:
http://services.mandtbank.com/person...owned_prop.cfm

Wells Fargo REO:
https://www.pasreo.com/reo/

Compass Bank REO:
https://www.compassbank.com/appforms...ties/index.jsp

http://www.thedirectoriescompany.com/reos.htm

http://www.biggerpockets.com/bank-reo.html



Kind regards
www.flosslounge.com

Free Press Release Resources

Its always a good idea to hold a press release for your new website or company. Press releases make it possible for you to be noticed and that can be very beneficial. If you are on a bootstrap budget and prefer resources that offer free press releases, here is a list of some:

1.Pressreleasepoint.com
2.Pressabout.com
3.Pr9.net
4.Gossipcraze.com
5.Pressreleaseforum.com
6.Postafreepressrelease.com
7.Pressexposure.com
8.Seenation.com
9.My freepr.com
10.Exactrelease.com



Hopefuly these resources can bring you closer to that million or more!
www.flosslounge.com

Online Resources for business

I was recently browsing one of the social media site named Mashable, and thought it would be great to share some useful online resources for business, they had listed there.
The resources are broken down into categories and here is a partial list:
1. Accounting , billing, invoicing, estimating & contracts.
2. Calendars & Scheduling
3. Charts diagrams and whiteboards
4. Collaborations and work groups
5. Conferences, presentations & Meetings
6. Crowd sourcing, networking & community
7. Customer relationship Management, Customer service and contact Management
8. Database, file storage & information Management
9. Employee Management, payroll & Human resources
10.Money making and eCommerce solutions

This is just a partial list. Infact they have listed over 270 tools. These tools could give you that edge to make your millions come true. Remember to always share your story of success with us or tell us your progress.