How to Flip A House with no money or credit? In this video, I’m going to breakdown the business model behind flipping a house and I’ll show you how to start this flipping houses with no money or credit. This video is PACKED with information if you want to know how to flip a house as a beginner If you are a beginner to house flipping, this video is a MUST WATCH! Be sure to watch the entire video because there are golden nuggets of information until the very end. How to Flip A House with No Money… Enjoy!
Thanks for Subscribing & Liking our Video!
OUR FREE ALL-IN-ONE SOFTWARE: https://www.cashflowcolony.com
⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software:
http://reisoftware.thekwakbrothers.com
Before we get to the “No Money” part of the video, we first need to fully break down the business model behind flipping a house. Because if you don’t understand the business, it’s very hard to even act on the strategy I’m going to share that’ll help you never run out of money for flips.
First, you have to understand your neighborhood/market. You need to understand which neighborhoods are the best for flipping houses and which neighborhood to stay away from. This is foundational to actually make money by flipping houses as a business model.
Next, you’ll need to understand the typical ARV (After Repair Value) of the houses that you’re looking to flip. Bear in mind, the ARV is determined by doing comparable research of a given house. You’ll want to compare apples to apples by comparing a 3 bedroom house to other 3 bedroom houses that have been sold nearby – preferably in the last 30-180 days.
Once you understand the typical ARV for given homes in your market, you can start doing the math on the rehab cost. Obviously, you’re working with homes that need repairs and updates to be marketable. Marketable simply means the right condition of a house that is selling. If the given market sells best with granite kitchen countertops with all stainless steel appliances, you’ll likely want to match that to sell quickly. This is something you’ll need to factor into your rehab cost. You don’t want to OVER-REHAB nor do you want to UNDER-REHAB…
You’ll also need to understand the other minor costs such as selling & buying cost which includes title fees, attorney fees, document preparation fees, real estate broker commissions, etc.
Next, you need to determine your profit. Some like to go with 10%-20% of the ARV… Some may go with a designated profit per month. For example, the house flipper wants to get paid $15k every month that they’re holding the property. If the project takes 3 months to complete and exit, then the profit has to be $45k.
Okay… Onto the no money part.
You’ll understand why becoming an expert in this business actually comes FIRST before the “needing money” to start because here’s why.
In our video explanation, you’re going to be raising money from other individuals who are looking for experts to partner up with. In other words, people with money may not have the time or the energy to learn this business. Let alone, they might not even have the right contractors, industry-specific knowledge on construction, and market knowledge. So with your specialized expertise in flipping houses, you’re going to be attracting these high net worth individuals to come partner with you.
The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom)
JOIN OUR FREE FACEBOOK MASTERMIND GROUP:
https://www.facebook.com/groups/bestreigroup
GET SOCIAL WITH US:
Facebook: https://www.facebook.com/thekwakbrothers/
Instagram: https://www.instagram.com/thekwakbrothers/
Hire the Kwak Brothers to Speak: info@thekwakbrothers.com
#houseflip #fixandflip #houseflipper
========================
—DISCLAIMER— The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.
Source