Business Of Flipping Homes : Short- Term Real Estate Investing For Long- Term Wealth by William Bronchick and Robert Dahlstrom

Are you interested in flipping homes and making money quickly and legally? Whether you want to pursue it as a full-time career or a side venture, it’s essential to understand the right way to flip properties, regardless of the local market and economic conditions. Flipping involves more than just redesigning a kitchen or staging a property. Each deal is unique, and as an investor, you need to have a well-defined business strategy.

Seasoned investors William Bronchick and Robert Dahlstrom have mastered the art of success in all kinds of markets, and now they are ready to share their secrets with you. In their comprehensive guide, “The Business of Flipping Homes”, they provide an A-to-Z roadmap for both new and experienced investors. This book not only explains the ins and outs of flipping but also delves into the complexities beyond single-family homes, demonstrating proven methods for finding, renovating, and selling properties.

With a combined experience of over 40 years in buying and selling investment properties, Bronchick and Dahlstrom offer invaluable advice on avoiding common pitfalls that can drain your finances and cause future complications. They outline systematic approaches for long-term planning, such as finding and collaborating with partners, structuring your business, and utilizing your unique skills, resources, and aspirations in realistic ways.

Moreover, “The Business of Flipping Homes” equips you with essential knowledge on creating timelines, working with real estate agents, understanding paperwork, analyzing financial figures, leveraging technology, and, most importantly, securing funding for your projects.

Building a Winning Real Estate Investment Team

Hello again! This is Fred Burke with Total Financial Liberty. Today, we’re going to talk about building your dream team for real estate investment. It’s crucial to have a team of professionals by your side to succeed in this business. Let’s dive in and discuss the key members you need in your real estate investment team.

Real Estate Attorney

First and foremost, you’ll need a competent real estate attorney who understands the ins and outs of the industry. Look for an attorney who is also an active investor and familiar with the laws related to real estate. They should be well-versed in using the same contracts you use and knowledgeable about land trusts. Consider joining a local real estate investment club to find a reputable attorney who can act as a trustee for you and protect your interests.

Title Company

Next, you’ll need an investor-friendly title company that can handle the intricacies of your deals. Look for a title company that knows how to work with assignments and double closings. They should understand the unique requirements of your business, such as short sales and REOs. Network with fellow investors or check out your local real estate investment club to find a recommended title company that fits your needs.

Real Estate Agent

While you may prefer to avoid buying properties through a real estate agent, it’s still important to build good relationships with them. You never know when you might come across a super deal or have clients who need the assistance of an agent. Take a real estate agent out to lunch, explain what you’re trying to achieve, and find common ground to work together when needed. They can provide valuable information, such as comparing properties for comps or providing lists of foreclosures and expired listings.

CPA, Accountant, and Tax Advisor

As your real estate business grows, you’ll need professionals to handle your finances and tax matters. Seek out experienced CPAs, accountants, and tax advisors who understand the specific tax implications of real estate investment. While you may not require their services right away, it’s essential to have them in your network when the time comes.

Mentor

Having a mentor can make a world of difference as you navigate the real estate investment world. Seek out mentors who have the knowledge and experience you aspire to have. While some mentors may charge high fees, there are valuable resources available online at a fraction of the cost. Consider joining Total Financial Liberty to access comprehensive real estate training, mentorship, and a supportive community.

Mortgage Broker

If you’re interested in pre-foreclosures or distressed properties, establishing relationships with mortgage brokers can be immensely helpful. When homeowners face foreclosure, they often seek assistance from their mortgage brokers. Reach out to mortgage brokers, informing them about your expertise in helping clients who cannot refinance. This can be a great source of leads for your business.

Bird Dogs

If you find yourself short on time or resources, consider enlisting the help of bird dogs or property locators. These individuals can go out and find potential deals on your behalf. Networking with real estate investment clubs is a great way to connect with bird dogs. Provide them with criteria for finding properties, such as abandoned or vacant properties, and offer them incentives for successful leads. This can save you valuable time and increase your deal pipeline.

building your dream team for real estate investment is crucial for long-term success. By surrounding yourself with knowledgeable professionals, you’ll have the support and expertise needed to navigate the complexities of this industry. Remember to network, join real estate investment clubs, and leverage online resources to find the right team members for your business. Good luck on your real estate journey!