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Three Proven Secrets For Fixing and Flipping Houses

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Do you want to get rich quickly without putting a lot of money into buying a house? Here are three real estate investment expert's secrets to becoming a wealthy investor.

Secret #1. Let people know that you houses for cash! Most beginning real estate investors don't realize that it is not enough to just decide that you will be buying houses for cash. It is also not enough to go looking for houses for sale by private owners on the Internet or in newspapers. Everyone is doing that as well as subscribing to all kinds of special lists that cost a pretty penny to find out who is in foreclosure in your area. You need to take that extra step and advertise who you are and what you do (especially locally.) This means putting up flyers in supermarkets and on the street, advertising in the local pennysaver or paper and branding yourself with a nice web site and business cards that plainly states, "I buy houses for cash." You can also send direct mailing offers or make a phone call to individuals in your area who you know, from looking at public records have recently filed for divorce, bankruptcy or who have had a death in the family.

Secret #2. Be A Reseller Not a Rehabber. The quickest and easiest way to make money is to not fix and flip the house yourself but to put a deposit down on the house and then become the "middle man" who sells it to someone else. This way you do not have to invest a lot of money and you are in effect using other people's money to complete the sale. You often don't have to put down much of a deposit to secure these houses. Once the contract is signed all you need to do is find someone who wants to buy the house wholesale.

Secret#3. Let people know you have foreclosured homes! All you need to have is one home that is in foreclosure that you have bought for pennies on the dollar from a desperate seller. Your next step is to let the world know that you have foreclosed homes for sale cheap. You might be selling this home for 50 cents on the dollar to the new buyer, but that is still more than what you paid the previous owner. Every time an interested person contacts you about a foreclosure enter their contact information into a database. You can also advertise this information on a website and collect data about interested buyers easily using an opt-in mailing list. Then every time you acquire a property under contract you can offer it to the investors on your list, which will be mostly people that want to fix up houses and sell them for a profit or simply people who are looking for a very cheap house. Every time you sell a house you will also receive an assignment fee for finding it and selling.

As you can see the overall secret to wealth building is not putting a lot of money into a broken down or cheap house but rather becoming the middle man and then selling the house at a price that is the "right price" but is also higher than you paid for it.
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