There are many ways to make money in real estate. And while all of the methods have the potential for huge profits, there is one method that allows for quick cash like no other. This well-known, and often scrutinized method is known as flipping, and if you want to profit in real estate right now, flipping may be your key to success.
What is flipping? In short terms’, flipping is nothing more than acquiring a property for a short time and then selling it for a quick profit. Some professionals say that flipping properties does not work in a down market, but to the contrary, if you know how to incorporate some creativity, it can work in any market.
The most common type of flipping is the traditional fix and flip. This method is tried and true and is very effective if you know what you are doing. The key to a successful fix and flip is to be conservative in both your time and repair costs. Investors get into trouble with fix and flips when they underestimate repair costs and the time it will take to resell the property. If you would rather leave the repairs to the new owner, you can buy and flip the property “as is”. Just make sure that you purchase the property cheap enough where you can sell it below market value and still walk away with a profit.
Another way to make quick cash in real estate is called wholesaling. Wholesaling is particularly appealing because there are so many investors looking for fix and flip properties. All you have to do is find a great deal and then sell it to another investor for a few thousand more than you got it for. Now that’s quick cash.