Flip and Grow Rich

Written on 12:25 PM by Admin

There has been Buzz about "flip and grow rich", What this phrase is about?

So what does Flip and Grow Rich means:

But on the whole this art is called flipping the property. Its a different case altogether if you buy the neighborhood and then redevelop to make it high priced and then sell accordingly. Now you have value added to what you brought and you are selling on the high.
According to its practitioners, this is one of the really get rich quick schemes but they do not add any value. They just buy it and flip it to a higher seller. There are certain steps to this art and I am going to outline these below:

First step in Flip and Grow Rich

Chances are property is priced much lower than its current market value. This means that the property can be purchased at a relatively low sum and then sold, in very short time, for a usually much higher market price.

Second step in Flip and Grow Rich

Second step in Flip and Grow Rich is knowing and evaluating where to get such properties. From houses that have been foreclosed on by banks or other financial institutions to properties that have been defaulted on to estates that are available in auctions.

Third step in Flip and Grow Rich

Vouching capital to buy a property is the third step in this process. Some folks may think that it initially may need too much down payment. However, the owners of the above described cases are either property owners desperate to let go of the property or financial institutions like banks looking to get back at their potential financial loss.

Fourth step in Flip and Grow Rich

Finally, its important that whatever you have brought, you can sell it quickly as well to maintain your cash flow.

Personally, I would ask you to steer yourself well clear of these things. It takes a seasoned person to get into it and get out of it safely, profitably etc