House Flipping - Forming A Team For Flipping Succe

First, you need to be sure to form a team for your company.

In order to make a huge real estate flipping company you need to formulate a team. When I was looking into flipping a property I wanted do everything myself, and I found out real fast that I did not have the money nor the experience to be successful in this industry. So, I having a background in construction partnered up with my brother who work's for a nationwide Real Estate company in the REO department and handles contracts all day, decided to work together on a flip. So, we develop our corporation with the help of a investor, and we were ready to go. Everything, works so much better with a team, a flip that would have took a single person months to do only takes us weeks.

Second, have contractors or handymen do the work. As a flipper you need to be out finding deals and working at getting the property sold. Hire out the labor portion of the job. This was the hardest lesson for me to learn. The first flip I work on took over 3 months because we did all the work our selves. After that, the lesson had been learned and we hired out all the labor on the second flip and everything was finished and we had a open house within 3 weeks.

Flipping is more profitable when you have a great team:

Third, have an awesome realtor. Realtors are a dime a dozen, but you need to look for the diamond in the rough. The hard worker that wants to get your property sold, not just stick it on the MLS and wait for a call. A good realtor is constantly staying on top over everything that relates to your house flip getting sold. Also, a good realtor will let you know if you are going to pay to much for a house, or if you are asking to much for the property you are trying to sell. I do not recommend trying to do a FSBO because you have no coverage. I do things to help with the sell of the house above the realtor, but I still depend on the realtor as the main source of getting my houses sold.

If you can put together a team that works for you I believe you will be more profitable and less stressed in the long run

Posted by Lonnie Maples on December 13, 2008 at 12:00 AM

About Lonnie Maples
Lonnie Maples is affliated with Realty Executives, which is located in Riverside, CA. For further assistance please use the contact information located on the right.

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Local Information for Riverside, CA

Latitude: 33.948065 -- Longitude: -117.396127

ZIP Codes for Riverside, California	92501 92502 92503 92504 92505 92506 92507 92508 92509 92513 92514 92515 92516 92517 92518 92519 92521 92522
Area Code for Riverside, California	951
Time zone for Riverside, California	PST

Other Area Cities: Bloomington, CA Colton, CA Grand Terrace, CA Home Gardens, CA Loma Linda, CA Rialto, CA Moreno Valley, CA Riverside, CA Fontana, CA San Bernardino, CA Glen Avon, CA

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Riverside is the county seat of Riverside County, California, United States, it is also a focus city of the Greater Los Angeles Area. As of the 2005 census, the city had a total population of 305,255 [1]. Making it the largest city in the Inland Empire Region, the 12th largest municipality in the state of California, and among the 50 largest cities in the United States. Riverside's downtown area is known as the "Mission Inn District", after the Mission Inn, a hotel that was modeled after the missions left along the California coast by Franciscan friars in the 18th century. However, no missionaries of the era actually came as far inland as Riverside. After secularization of the missions, the land was designated Rancho Jurupa and was granted to Juan Bandini, who later divided the rancho into two parts and sold them to two Yankee-turned ranchéros, Benjamin D. "Benito" Wilson and Abel Stearns. -- Source: Wikipedia.com

California 2000 Census Population Profile Map

	Riverside	California	United States
Population	255,166	33,871,648	281,421,906
Median age	29.8	33.3	35.3
Median age for Male	28.6	32.2	34
Median age for Female	30.9	34.4	36.5
Households	82,005	11,502,870	105,480,101
Household population	247,368	33,051,894	273,643,273
Average household size	3.02	2.87	2.59
Families	58,155	7,920,049	71,787,347
Average family size	3.54	3.43	3.14
Housing units	85,974	12,214,549	115,904,641
Occupied units	82,005	11,502,870	105,480,101
Vacant units	3,969	711,679	10,424,540

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House Flipping - Forming A Team For Flipping Succe

Local Information for Riverside, CA

Latitude: 33.948065 -- Longitude: -117.396127

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