Those Flipping Zags
from EvoReal Talks Hosted by Jessica Side
Ethan moves to UW and joins a frat. Matt and Jessica discuss flipping houses in detail, misconceptions abound, is it just putting lipstick on a pig? Thinking of flipping a house? Here are three pillars for short term gains, 1. Make the money on the buy, do your research and make sure you have the proper margin, a good buy may not be a foreclosure or distressed property however, the ideal flip is not generally financeable or in good repair. 2. Know your numbers, repair costs (estimate high), and timeline (holding cost), surrounding comps, utility expenses, selling costs, ask yourself worst-case scenario, can you do some of the work yourself? 3. Have a backup plan, if the market shifts be prepared to rent the home or consider owner financing. History lessons are back, Jessica reveals fun facts about Gonzaga University, one of the most famous colleges in Spokane and home of the Bulldogs. Go Zags! Follow us on the socials by searching the tag @EvoReal or visit us online at www.EvoReal.com Check out Rowley Legal for investment including legal tips and investor resources: http://rowleylegal.com/legal-info/real-estate-investor-resources
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