3 Flipping Strategies That Can Make You a Nifty Profit

The act of flipping in real estate involves buying a property and selling it for a profit instead of renting it out.

There are a number of types of flipping some of which are legal while others are not. That said, here are 3 legal flipping strategies that will help you make a nifty profit:

#1: Buy, Fix and Flip

This approach is the most common one and which involves buying a property, fixing it and then selling it for a nifty profit. Quite easily, you can make about $15 to $50 K on a single deal. B careful not to spend too much on repairs. Also, remember to factor in the costs of paying your real estate agent.

#2: Scouting

Most people in the real estate business start off as a scout, looking for distressed properties, and selling that information to real estate investors. This fee depends on the price of the property as well as the profit potential involved. Each time a scout provides information, he or she can expect $500 to $1000 for each property.

#3: Pre-Construction

With a few real estate markets showing an appreciation which amounts to 2% per month, putting a contract on a pre-construction home or condominium and flipping when it is complete can net you a decent profit. For example, if the condo price is about $500,000, you can easily make about $100,000 in a single year. Conversely, you can lose a lot of money if the value drops and so it is important to use this approach very carefully.