Flip This House: Flip Tips

I love to watch Flip This House on A&E on Sundays. It's my weekend ritual. They offer good advice on maintaining and fixing a home.

On the site, they have a lot of helpful flip tips. Here are a few tips from people who are professional flippers:

-PETER PASTERNACK-

1. Have your funding in place before you look for a deal.
2. Don't be afraid to make low offers. No today doesn't mean no tomorrow.

-RUDY MARTINEZ-

1. Have a time-line. It's an important way to monitor your progress and keep your work on schedule.
2. Know your numbers. Accurately estimate your renovation costs and the market value of the property. Don't over value the property with too many or unnecessary renovations and do not over price the selling price. Price it right!

-THAN MERRILL-

1. Knowledge + Business Systems + Action = Success!
2. Real Estate investing is a TEAM sport and the stronger your team the more successful you will be.

-ARMANDO MONTELONGO-

1. It doesn’t take money or credit to flip - It takes knowledge.
2. Don’t be afraid to flip in a cold or flat market. Markets don’t dictate profits, deals dictate profits. If you know how to get good deals, you can flip in any market!
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