The House Flipping Business Plan

The house flipping process can be divided into three phases: home buying, home renovating and home selling. Each phase is important and unique and each phase will build off of the successes and failures of the previous phases.

Phase One: Home Buying

This phase is the most important phase because it will set the tone for the rest of your house flipping project. If you select the wrong house to flip, you will be forced to pay higher than expected construction costs and forced to deal with a longer than anticipated selling period. On the flip side, if you choose the right house, the construction and selling process will virtually take care of themselves.

Most real estate experts agree that you do not make money with the sale of your flipped house, but with the purchase of the house. You always want to have the end in mind. The end in house flipping would be to make money. Therefore, selecting the right house to fit your budget and your schedule means you will have a very easy time renovating and selling the house.

Phase Two: Home Renovation

The best strategy to follow to ensure a successful house flip is to set your budget and your schedule before you begin construction. With a budget and schedule set, you will know how much money you can spend for your flip as well as how long the flip will take. That way you can better track your progress.

In construction, the 3 most important factors to produce a final product are time, money and quality. All 3 of these factors are interrelated. For example, if you want to speed up the construction process, it is going to cost you more money and the quality of the work will be affected, most likely negatively. If you are looking to install the finest quality features in your house, it will probably cost you more time and more money. Finally, if want to spend the least amount of money as possible, expect the quality to suffer and the duration of the project to last longer.

Phase Three: Home Selling

Depending on how well you researched your target market and what type of improvements you added to your flip in the previous phases, the home selling phase should only last a few weeks. Anything longer than a month and you will be forced to pay an additional mortgage payment which will reduce your overall profits.

To make sure that you sell the flipped house quickly you should follow these 2 guides: set your selling price below the market value and market your home.

The name of the game in house flipping is speed and when you set the selling price of your house below the market average, potential home buyers will see the added benefits of your renovation versus your lower asking price and immediately see a tremendous value.

Also, the more potential home buyers you can have looking at your house, the more likely someone will like and ultimately buy your flipped house. To increase foot traffic in your house, allowing a real estate agent to list your home on the Multiple Listing Service (MLS) will give even more real estate agents the opportunity to showcase your flipped house.

There is no one right way to flip a house. However, some ways are significantly better than others. What works for some projects may not work for others. Determine your budget and schedule and always have an end goal in mind from the beginning. If you can successfully do that, you are well on your way to a successful house flipping project.

Visit My House Flipping Guide to learn more about buying, renovating and selling houses.

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Register For Your Dream Home

Many engaged couples today don't need the household basics like dishes and towels. However, what they need is the home to put them in. Being a home owner isn't as easy as it once was, so for many, there really is no better gift. A home fund wedding registry can help you receive the gift of a lifetime, be it to purchase your 1st home or remodel the one you have.

What is a Home Fund Registry?

A home fund registry is a gift list that allows you to register for your dream home, so instead of registering for smaller household items like you would at a department store, you might register for:

Contributions to your down paymentFurniture for your bedroom or living roomMajor appliances like a washer/dryer or refrigeratorNew electronicsA backyard makeover

How Does a Home Fund Registry Work?

Your guests will want to contribute to a specific part of your home, such as the kitchen, living room or bathroom. To make it fun for them, explain how you will redecorate your home, the beauty and functionality that the renovations will bring, or your vision for the home you will purchase with their gift towards the down payment.

Your home fund registry allows you to share your story and all of the details of your plans by creating a gift list that itemizes how the home fund gift money will be used. Instead of listing out a bunch of smaller items that you don't need like you would on a traditional registry, with an alternative registry you register for anything from new flooring to a couch, a fresh coat of paint to the latest appliances. Although these gifts would be too big if requested in one lump sum, with a customizable home fund registry you can break them into smaller price points so that anyone can contribute at the level they are comfortable giving.

Benefits of a Home Fund Registry

Save For a Down Payment: Buy your first home with the contributions friends and family make towards the ultimate dream of home ownership.
Renovate Your Fixer Upper: You've got the home and now it's time to fix it up. Create an alternative registry to share your vision with guests and divide your renovations into parts so they can contribute and be part of the excitement of your remodel.
Group Gifts for Big Ticket Items: If you already own a home, but you still live like you did in college, it's time to spruce up the place with new furniture, a grill, even a flat screen! You could never register for these in a department store, but divvied-up into parts at smaller price points, everyone can contribute.
An Excuse to Celebrate: Your friends and family will feel best giving you a gift that they know you'll use and cherish, like a home of your own. Don't forget to invite them over for a housewarming party!

Home Fund Registry

Dana Ostomel is the founder and Chief Gifting Officer of the cash wedding registry site: Deposit a Gift. < http://www.depositagift.com/ > She works closely with her users to ensure they are able to craft the perfect gift list for them. Years before Dana got married, she wondered how anyone could store so many presents-and even if they could, how they had the time to unwrap, return (often), track and use them all. Her marketing background led her to believe she could simplify the registry process-and not just for weddings, but for any big gifting event. And so Deposit a Gift, the next generation gift registry, was born.

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Handling Real Estate Rejections

Rejection is a sales person's greatest fear. We hate any sort of rejection, and it's hard not to take it personally. So here are some ways of dealing with rejection and conquering your prospecting fears:

1. Learn From Each No Make each failure a learning experience rather than just a regret.

Take a close and honest look at why you failed to get a "yes". What (if anything) could you have done differently? Was your opening statement interesting and compelling? Did you leave anything out or forget something that might have helped? How well did you handle their objections? If there's anything you can change, be ready for it at your next meeting. Understanding what went wrong and learning from failure dampens the sting of rejection.

2. Place The Next Call

When you've understood what went wrong on a call, move on to the next call immediately. Don't dwell on the result. It's especially bad to go for lunch or leave the office for the day on a negative result because it will stay with you and you'll be less inclined to make calls when you're at the office next. I've seen real estate professionals who couldn't remember their best friend's phone number, but could describe in detail every failure they'd had that day. Learn from your mistakes and move on.

3. Smile And Laugh

Some real estate professionals take rejection too seriously. Get over it! If you learn to laugh at your failures and take them lightly, rejection won't feel nearly as bad. One good way of doing this is getting together with other sales reps from your office for lunch. Get everyone to talk about their most memorable failures and see who has the worst. You'll get a good laugh and feel better by realizing the same thing is happening to every other rep out there regularly. This helps put the "no's" in perspective.

4. Recall Your Success

The thrill of victory lasts way longer than the sting of defeat. So remember the positive feelings you had when you succeeded. It'll provide you with motivation to get back on the horse and keep riding.

5. Leave Your Phone Area

Occasionally When setbacks or defeats occur, get out of the office for a while. Get some air and clear your mind. A walk is a great way of thinking things over and getting new ideas.

6. End All Calls Positively

Even if you're rudely rejected by a prospect, don't treat them rudely too. Be courteous and professional at all times. It'll help maintain your positive attitude. Learn more about the "soft" skills real estate professionals need to succeed in my course Building Your Ecommerce Business. This course has been approved by the Registrar, REBBA 2002 to qualify for 9 credits.

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Cash For Structured Settlement

Most companies offer Cash for Structured settlement as a result of workers compensation, or personal injury. Formally recognized in 1983, the structural settlement was specified as a voluntary agreement between an injury victim and the defendant.

Before you enter into any agreements, you should consider your options to ensure that the financial position of the company is good to avoid the risk of default of your cash after you sign over your annuities.

Professionalism, style and experience are the key factors to be considered in choosing a structured settlement company.

One should work with companies which conduct business professionally and in an ethical manner, be experienced and demonstrate results in what they do and provide comfort and peace of mind.

Structured settlement is beneficial to users as it is a loophole for tax avoidance while, settlements funds are also saved for future use.

Before you sell your settlements, you should consider the following factors. First, ensure that there are no legal restrictions as well as contractual limits which make selling of your settlements impossible.

Secondly, look at the tax considerations since most of the settlements offer tax savings as compared to cash settlement.

It is advisable to seek professional help from either your accountant or your lawyer who will advice you on the consequences of your decision.

Cash for structured settlement enables individuals to sell part or all of their annuities for a sum of cash. This enables people to meet financial emergencies. Individual also use the cash to pay off their debts or buy a home.

Since it takes time for one to sell annuities, you should plan ahead to avoid disappointments and unnecessary delays.

The lump sum value of your payments usually depends on the amount and when it is due. The schedule of payments is usually outlined in the structured settlement agreement.

Settlement transaction factoring is the best interest used for the Cash for Structured settlement. However, courts can determine the interest rates on a case by case basis since there is no ?best interest?.

Discount rate was relatively high due to expenses caused by litigation but this reduced considerably after the enactment of state and federal legislation. The discount rate has been associated with home loans though a little higher rate than the home loan interest rates.

Discount present value determines the present value of payments to be made in future using most recent rates provided by the federal rate.

Cash for Structured settlement offers you a chance to receive lump-sum and acts as an alternative funding made to meet your needs.

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