Category Archive : Real Estate

Here’s the article that shows you how to go from totally broke and homeless to becoming a billionaire in 90 days or less.

Step 1) You are homeless, so find a place to live. Under a bridge or in a homeless shelter or you meet a friend and ask if you can sleep on his couch. (time: 2 days)

Step 2) Try to get whatever little advantage you can. That means anything from a) borrowing from family friends. b) get welfare c) find where you can get a free meal d) work some temporary jobs e) maybe buy and sell something for quick money i.e .: sell tickets at a game or something f) finish your resume and get placed online and in print. (time: 2 days)

Step 3) At this point, let’s say you’re at least barely stable. However, you are still unemployed. Then you start applying for a job. It makes it a challenge to see how many places you can apply or interview per day. As the winner of the Guinness Book of World Records for running at 500 locations per day and interviewing at 10 of those locations daily. Like you turn it into a marathon. You literally apply for “any job” within your city. Anything from the CEO to McDonalds. And you set a goal to have a job in 1 week or less. 2 max. (time: 2 weeks)

Step 4) At this point it hasn’t been a month and you have a place to stay and you have a job. You get your first paycheck. At that point, his time on his friends’ couch or at the homeless shelter is over. So you say goodbye and find someone who rents a room there at home for a very low price. You rent it and move in. (time: 2 weeks)

Step 5) With your next paycheck, buy a used computer and start using it after work. You work 8 hours, you sleep 8 hours, that gives you 8 hours to surf the web. So, use that time to start learning how to invest in real estate. Just study everything and anything you can find about real estate investing on the web. Your goal is to become “an expert” in real estate investing. You join all the real estate clubs in the area. Find a real estate mentor. You buy a good real estate housing study course. Use your travel time to listen to audio about real estate investments, etc. (time: 2 weeks)

Step 6) Start networking with other real estate investors. And go the extra mile to meet the biggest players in the real estate investment club. You make up some business cards. Exchange with them and get to know them. You try to have one of the most important players be your mentor. This is done simply by befriending them. Then you start making connections.

And start looking for potential investment properties on online MLS listing sites. (time: 1 week)

Step 7) You keep saving money from your day job, you keep networking, you keep learning how to invest in real estate, and you keep working on your story. You have now saved enough to start your real estate business. Print some business cards. Buy $ 500 cheap because that will be important. Follow a cheap. A cheap briefcase. And you place an ad in your local newspaper and online classifieds that says something like: “Get 10-15% Annual Return on Investment. Your Name on the Property Title Provides a 100% Guarantee of a Safe Return. Call 555-555-5555 “. (time: 2 weeks)

Step 8) You will start receiving calls from interested investors. You want to find someone who has money and good credit. of which you don’t have any yet. When they call, they ask “what is this about?” You say, “I’m a real estate investor. I buy houses that would be great to sell or rent. I have several great investments right now. Can you sit down with me for coffee and I’ll show you some? Of them, how does Tuesday sound? at 3 pm? “. You meet with them. You park your old, rusty $ 500 cheap car on the block so the customer won’t see it. (ha ha) You meet the angel investor (client) and show him some of the listings you printed from the MLS that you already considered good investments. You ask the client to put in the money and credit to get the mortgage. That is part of the investment. Your part will be to orchestrate the house move. So you say to the client: “Look, I’m an expert in these things. You put in the money and secure the mortgage on the property, then I’ll take care of the rest in terms of cosmetics and change of house. Then once we sell the property , we will split the profits 50/50. You will show them how your ROI will be much higher than the 15% you originally promised. How they will be in the title as an owner so that they are 100% insured. “You also connect with people from the real estate club that offer this deal. You may have to talk to 100 people to find 1 that bites. (time: 2 weeks)

Step 9) You have found your angel investor. Get them to agree to work with you in writing. You get verification of your ability to finance the deal and you have the credit to get the mortgage. Next, find a home that would make a great home move. You get them to provide you with the funds for the initial payment. You tie up the property. You get the investor to see their mortgage broker to obtain a mortgage on the property. Ask your attorney to draft the paperwork that also secures your part of the project in writing so that when the property is sold, you get half of the funds. So that both you and the investor know in writing what your commitments are. (time: 2 weeks)

Step 10) Buy the house. One that doesn’t need tons of reindeer. So you mow the lawn, paint the front, and clean it thoroughly. Put it on stage. Put it back up for sale. And flip it for a very healthy profit. After all expenses, his flip went reasonably well and he made a net profit of $ 40,000. You are an angel investor and you get $ 20k and you get $ 20k. Now that your angel investor is happy and has some confidence in you, start working with them regularly. Just rinse and repeat. You get them to do another and another with you. Let’s say on average you can pocket $ 20k per project. You do 5 cartwheels and now you have $ 100k saved. At this point, you can probably start doing cartwheels on your own.

Step 11) You use that $ 100k to make your first pitch. You find an amazing deal, buy it, or work with your mortgage broker to buy it for an established income mortgage. You flip it over and this time you pocket the full $ 40k. Keep doing it now. You change another 10 properties. $ 40kx 10 = $ 400k. At this point, you convert your operation to a larger scale. Hire some newbie real estate investors to work with you. Train each of them to go out and find deals. It finances them. They do the job of flipping them. And you pay them a salary plus a small commission for the successful launch. Now, with a team, you can do at least one jump every week. So in no time you’ll see monthly earnings of over 100,000.

Okay, this is where it gets interesting … But you have to visit my website to find out how the story ends. See you there.

One of the most frequently asked questions regarding repair and exchange real estate investment financing is how to refinance recently listed investment properties with no season. This is especially true for those investors who have houses on the market that are not moving and that were bought with hard money.

Real estate investors in those situations want to refinance their homes into regular conventional financing to lower their cost of holding, as interest rates through conventional means are about half of what they spend on hard money.

I’ll be honest with you, these are some of the most difficult loans to close. What you are looking to do is refinance for cash a vacant rental property that has been listed in the MLS for the past year. Most lenders just refuse to touch this kind of deal …

Why? Because they don’t want to deal with these loans as they think the only reason you are trying to refinance is … you want to strip your equity … and the moment you get a buyer, you will pay off the new loan. . Lenders hate early repayments.

I read somewhere that a lender does not pay the costs of setting up and financing their loan at the three-month mark. So if you pay a lender in the first 90 days of the loan, the lender loses money. And lenders absolutely hate losing money.

The number of lenders who will refinance at inexperienced installments and rates is considerable, perhaps 100-150 lenders. Few lenders will make installment and rate refinances for no reason on a recently listed property. I think you will find that only about 5 will do this kind of deal. Not only will you repay this type of loan at rate, but about 100% of the time, these offers will have prepayment penalties.

If you decide to keep the property as a rental, you may be fine with prepayment penalties, but you may also need to explain yourself to others! You will need a letter of explanation to the insurer stating why you removed it from the MLS … and to assure them that you will not be selling it soon.

It’s good to have your CPA write you a letter saying they advised you to take the property off the market because it will be better for your tax purposes to keep it as a long-term rental rather than flip it over. and take the hit from capital gains.

Another thing to remember is that these loans are difficult to do if the property was recently listed and almost impossible to do if the property is vacant. Therefore, make sure you have a tenant in the property. Another tip is to make sure that when the appraiser comes in to take a photo of your property and does the appraisal, make sure there is no “For Sale” sign in the front yard.

If you have such a sign, the insurer will see it in the picture and it will definitely be a “red flag” for them. It won’t hurt to have the sign removed for a few days, but it will be a big problem to have it there.

Deals like this can be difficult, but not impossible. Learn more about financing your real estate investments in Financing your real estate investments []

In recent years, smart speakers have become increasingly popular in the US These wireless speakers are one of the most recent advancements in AI (artificial intelligence) technology. They respond to voice commands and are capable of a wide variety of functions, from searching the Internet to playing a song or playlist, checking the weather report, creating a to-do list, controlling a variety of home devices, and much more. plus. depending on the smart speaker model you own and how “smart” your home is set to be. Recent research has shown that more than 39 million people within the US now own one of these devices.

Considering the current popularity of these devices, it’s hard to believe it was as recent as 2016 when the first product of its kind was introduced: Amazon’s Echo speaker with Alexa voice control. Since then, Google has released its own version of the smart speaker, along with Apple, Microsoft, and many others. Although the sales of these units will undoubtedly fluctuate over time, as of this writing, some of the most popular devices are Amazon’s Alexa, Google’s Google Assistant, Apple’s Siri, and Microsoft’s Cortana.

While there is no question that the capabilities of the smart speakers are impressive, none are multilingual, at least not yet. The fact is, right now, no matter which smart speaker you buy, you will only be able to speak one language at a time. Users can determine which language their device will use by choosing the language setting on the unit. Amazon’s Alexa, at the time of writing, is capable of understanding only three languages: English, German, and Japanese. Microsoft’s Cortana understands six different languages: English (American and British), German, Italian, Spanish, French, and Mandarin Chinese. Apple’s Siri offers more extensive language capabilities including the following: Arabic, Chinese, Danish, Dutch, English, Finnish, French, German, Hebrew, Italian, Japanese, Korean, Malay, Norwegian, Portuguese, Russian, Spanish, Swedish, Thai and Turkish. It also supports a variety of dialects for Chinese, Dutch, English, French, German, Italian, and Spanish.

But thanks to Google, the language capabilities of smart speakers are about to change. Currently, the Google Assistant understands eight languages: English, German, French, Italian, Japanese, Korean, Spanish, and Brazilian Portuguese. However, by the end of 2018, Google Assistant will support more than 30 languages ​​and will become multilingual. This means that instead of the user needing to change the language settings of their smart speakers and only being able to speak one language at a time, the Google Assistant will be able to switch from one language to another seamlessly, just as its users would. multilingual. . That means that if a user speaks more than one language at home, or speaks one language at home and another at work, for example, the intelligent speaker will be able to understand and communicate in both. Google plans to provide this multilingual capability initially (late 2018) for English, French, and German, adding more languages ​​over time after that. By the end of the year, this smart speaker will be able to communicate in more than 30 different languages.

It’s easy to see why smart speakers have become so popular in recent years. In our technological age, the ability to access necessary information simply by asking a device is convenient and engaging, not to mention all the other capabilities that smart speakers provide. Therefore, it is not surprising that the next logical step is to produce multilingual versions of these popular devices. After all, we live in an increasingly multiethnic and multilingual world, and our artificial intelligence should reflect those qualities as well.

Point of Use (POU) meters are designed to provide a sub-metering solution for those properties that cannot be sub-measured by conventional sub-meters due to plumbing designs that bring multiple pipes into the apartment or office (stacked risers). The meters were specifically designed for stacked vertical pipe configurations typically found in properties that use a central boiler to provide hot water.

In a typical installation, very small flow meters are inconspicuously installed at each hot and cold water outlet to the shower / tub, toilet, sink, dishwasher, and clothes washer. Depending on the manufacturer, flow meters have a built-in transmitter or are connected to a transmitter / interface board. The transmitters send usage information to a central processing computer which, in turn, sends the usage information to a billing center where invoices can be printed and sent to the end user.

Equipment and installation costs are typically higher than traditional systems, but payback is typically less than a year. When deciding on a POU meter, a primary consideration should be that the meters can be read by any automated reading system (AMR). This allows the property owner to choose from many billing companies and does not tie the owner to equipment that can only be read by a few companies.

Numerous studies have shown that submetering reduces usage by up to 39%. Although POU meters have been available for over ten years, they were not widely used until recently. With today’s interest in green solutions and increasing water and sewer costs, properties that in the past could not be traditionally measured are now installing POU meters and benefitting from the same kinds of usage reductions as properties with conventional plumbing. have succeeded for years. Since approximately 50% of apartments and 90% of office buildings use stacked risers, the benefits of submetering with POU meters have hardly been touched.

One long-term investment we have made and have enjoyed for the past twelve years is the rural land of central Texas. Historically, land has increased in value over time, making it a viable long-term investment. To quote beloved humorist Will Rogers: “Buy land. They’re not making it anymore.” Land, like any other investment, fluctuates in value, but has generally been a solid long-term investment. The ever-growing world population continues to increase. It makes sense that more food has to be produced to feed the growing population. Land prices should pick up again soon, and it seems like an opportune time to invest in rural acreage before prices start to skyrocket here in central Texas. Ultimately, as the world’s population increases, so will the demand for agricultural and livestock land. This was actually one of our deciding factors when we decided to invest in ranch land in Central Texas. According to an article in the September 2011 issue of Realtor® Magazine, things are looking up for farmland and farmland values ​​in the US The future is bright for those with acres to sell and for who are ready to buy.

You don’t have to be a real farmer or rancher. per se own and make good use of its surface. If like us you are not, you can quickly learn enough to manage your own cow / calf operation or you can always lease your property for grazing or growing livestock. You can immediately get the benefits of an agricultural property tax exemption, better known as an “ag” exemption (which significantly reduces property taxes, provided the exemption is already in effect when you acquire the property) without having to be on site continuously to run your livestock or farm. If a property does not have an agricultural exemption, one can be requested. The “ag” exemption along with the various income tax benefits of owning a ranch has provided us with substantial tax relief over the years. On the other hand, simply having a place in the country to escape when city life drives you crazy is reason enough to invest in ranch land or recreational areas in central Texas. When we decided to purchase land in the “Top of the Hill Country” of Central Texas in Hamilton County as our City Refuge (DFW), our main plan was to find a recreational place where we could hunt, fish, and search for artifacts. and Indian fossils. We knew that to maintain our farm exemption status, we would have to do a little more than play games. So, we buy some cows to graze the grazing land and we rent our cultivated fields to a local farmer for grain production.

We have made considerable effort to sensibly diversify our investments. Like many of you, for most of our working lives, our investment portfolio has consisted primarily of taxable market securities and 401Ks. But, over the past 20 years, we have added to our portfolio: several rental properties, a combination ranch / recreational ranch in Central Texas (where we now live), a commercial construction company in Waco, TX, and finally, a farm and ranch real estate company located in Cranfills Gap, TX. As seasoned professionals, we understand the importance of financial diversification. However, in hindsight, our best investment overall has been the central Texas ranch. Our initial decision to invest in rural properties in Central Texas was made with the ultimate goal of “paying off” in the future, but enjoying it. now. We realized that life is too short and unpredictable and we made our decision. Of course, investments in the stock market are essential to securing our retirement future, but they are long-term investments that cannot be consistently enjoyed. There is no guarantee that we will continue to be present to see the bottom line of all our investments, but we trust our decisions; twelve years later, we have no regrets at all. Not only are we having a great time living in the country now, but we also have the peace of mind of knowing that we have secured our future with smart investments.

For help locating the rural property of your dreams, visit

Traveling away from home can make some people feel anxious because at home, their bed feels a certain way, you know all the TV channels, and everything feels comfortable. Vacation rentals aim to make travelers feel no different about their accommodation. You should be able to see it as a “home away from home”. Better yet, because you are renting and the properties are doing their best to attract your business, you and your family may find that your potential rental can offer great benefits.

When planning your next trip, you should keep a few ideas in mind as to what you want your accommodation to provide. Here are three things that should be near the top of your list:

1. Provide the Basics – Your rental should provide basic services for you and your family. Every family has their own way of defining the basics, so it’s important for families to get together and find out what they absolutely feel they need and see which places offer those things. Do you need a complete kitchen? Are mountain views necessary? How many bathrooms are essential? It’s a simple idea, but because it’s so basic, this little detail can go unnoticed. As part of your research, shop around for rental properties and, most importantly, make a few calls.

2. Proximity to the actual vacation: As much as your vacation is the reason for traveling, getting to the fun stuff can sometimes be less fun because you’ve rented accommodation too far from the hub. It may be too far to walk, which means that you will have to consider renting a means of transport. Your time is precious and you have worked hard to earn this time off for your loved ones; don’t waste it fighting the whole trip and wearing yourself out.

3. Safety – No one likes to think about what could go wrong on their vacation, but it is important to think about how your vacation rental property provides a safe environment. If a property deals with out-of-town visitors on a regular basis, no one will know that visitors can often travel with cash. Does your rental have a safe place for valuables? When it comes to amenities like a pool, is there a lifeguard on duty? Is there a first aid kit available in your rental for general bumps and bruises that can occur? Make sure to research the online ratings and reviews of previous visitors and see what they have to say. Also, create a checklist of important safety items and speak directly with property employees.

It is always important to remember to do your homework when choosing your vacation rental. Choosing the right place to stay and call your “home away from home” is absolutely key to everyone’s happiness. Vacations are times to create memories for a lifetime, and you don’t want a bad lodging experience to be the only thing that ruined it.

The city of Sarasota is located in Sarasota County on the west central coast of Florida, and is famous for being the cultural center of Florida and home to its own opera, symphony, ballet, and several Equity theaters. For a comparatively small city, Sarasota has a great climate, excellent cultural facilities, low crime rates, low unemployment and class.

The name of the city probably derives from the Spanish sarao sota, which means “a place of dance”. While Sarasota may not be as famous as other Florida cities like Miami, St. Petersburg, Tampa, or Orlando, it is the ideal place for all the conveniences of a big city in a small package, and is considered a thriving community with lots of Art.

Sarasota has a wide range of events and attractions that attract art-minded tourists who are interested in more than just the usual theme parks or shopping malls. Sarasota also has 35 miles of sand and several beautiful keys on the Gulf of Mexico that are well known to sun and fun lovers.

Much of Sarasota County’s recreation and leisure venues are in, on, or around the Gulf of Mexico or Sarasota Bay. Sarasota County has 35 miles of shoreline, which includes 13 public beaches. A wide variety of activities and facilities are offered, including ample parking, restrooms, showers, shops, lifeguards, shelling, fishing, surfing, parasailing, volleyball, and other beach sports. Siesta Key Public Beach is one of the largest and most popular beaches in Sarasota County.

For those looking to buy homes in Sarasota, the median sales price for an existing single-family home is about $ 129,400, but the median price for all residential properties is $ 161,000. In the $ 115,000 to $ 165,000 range, prospective homebuyers will find attractive three-bedroom / two-bathroom properties with two-car garages.

Sarasota is part of the Sarasota-Bradenton metropolitan area, where the median price for existing single-family homes was $ 129,400 in 1999, up 9 percent from 1998. Homes in gated exclusive villages cost from $ 200,000 and up. Condos account for about 30 percent of residential sales in Sarasota, and many are of the two-bedroom / two-bath type.

Whether single-family or condo, prospective homeowners value owning a property on the water at the highest level. “The boardwalk is where the top prices are,” says the Sarasota Association of Realtors. For people moving to the area, access to water often takes on added importance and, on average, most people want waterfront homes in Florida.

With low unemployment and an attractive incentive program to attract and keep businesses, Sarasota County’s economic outlook is vibrant. Although the majority of city workers are employed, many work in service industries. On the other hand, the city’s annual business revenue is approaching $ 450 million and 8,000 jobs in Sarasota County are related to the arts.

Sarasota is considered to be a relatively peaceful city, and Florida’s crime rate places the Greater Sarasota area at the bottom of the list of violent crime-infested cities in Florida. The number of violent crimes recorded by the FBI in 2003 was 566. The number of murders and homicides was 5. The violent crime rate was 10.4 per 1,000 people, which is one of the lowest in the state of Florida.

Sarasota Real Estate –

When trying to figure out the correct solar panel configured for your commercial business, there are numerous factors that need to be considered during the process. You should first be familiar with solar panels and how they work, although you don’t need to know their details.

Solar panels use sunlight to produce electricity by converting it into usable electricity using photovoltaic cells. You will need to place them on the roof of your building or around the property; They should be in an area that receives a lot of sunlight. If you run a business and are considering purchasing commercial solar panels for buildings on the Mornington Peninsula, there are a few things to consider first.

Evaluate the installation

To find the right solar panel to meet your business needs when it comes to solar power for commercial requirements, the property will need to be evaluated. You can work with a solar professional who can determine if your building is suitable for solar energy. They can also make recommendations depending on how much space you have and how your building is positioned in relation to the sun.

Understand the size

You also need to understand size and why it matters when it comes to your solar power setup. In some cases, you may notice that the size of the inverter increases, which can exaggerate the amount of power your system has. The investor is not everything, so there are other facets to consider when it comes to energy production and capacity, as well as performance. In this case, your best option is to speak to a solar energy expert.

Panel quality

When you compare solar panels, you need to look at their efficiency as well as the efficiency of the inverters. Although you may want to focus on the efficiency of the solar panel, this will not tell you how much power your system will actually produce. The higher the efficiency of the inverter, the more electricity your business solar will generate and the lower your electricity costs.

Shade tolerance

In all cases, you should not have commercial solar panels in shady Mornington Peninsula businesses. If your roof is located in a shady area, you will not get as much energy production and your panels will not be efficient. You may see panels that are branded to be shade tolerant, but your panels should only be exposed to minimal shade at any time, no matter what. This is one of the reasons why it is extremely important to work with professionals, as you will find your system very inefficient if it is not configured correctly.

When installing commercial solar panels in your building, keep these considerations in mind if you want to make sure your system is as efficient and productive as possible.

What are LED lights?

There are several types of lights on the market such as incandescent, fluorescent, etc. But outside of them, LED lights are one of the newer but most preferred lighting options among people. The LED or light-emitting diode is a kind of lighting device, in which the light source is illuminated by electricity passing through a microchip. In addition, to make it more efficient, the heat produced is recovered in a heat sink. This ensures that the bulb does not overheat and does not burn out. This type of heat management makes it one of the most widely used Energy Star lighting fixtures. They are almost 90% more efficient than other types of lights. They also have a longer life than incandescent and compact fluorescent lamps.

How is it different from other light sources?

The main thing that makes LEDs more preferred than the other forms is that they are more versatile in use, more efficient, and have a longer life span.

  • The direction of the light:

The LED lights are unidirectional; It means that they will get their light only in one specific direction, which is perfect for various applications like traffic lights etc. This also means that you will be using energy efficiently. CFLs and incandescents, on the other hand, shed light in all directions, increasing energy consumption and heat production.

  • Producing white light:

The LED light in the original state is red, blue, green and amber, but a phosphor layer is used to turn it into white light. While in CFLs the light is produced by ultraviolet light and heat which, when it hits the phosphor, turns into white, incandescent light, the white light is produced when the metal filament shines until it turns white. In both compact fluorescent and incandescent lamps, the heat production is too high compared to LEDs.

What are the benefits of using LED lights?

There are several advantages to using LED fixtures for the home and office. Some of them are:

  • Save energy: they use less electricity and therefore will reduce electricity costs and consumption substantially. They are ideal for rooms and spaces where lights would be needed throughout the day.
  • Longer life: LEDs do not fail or burn out like others and can also have an approximate lifespan of 50,000 hours. This means that one will not have to buy them over and over again and can also save the cost of changing lights, especially in a commercial space.
  • Durability: they do not break easily and are also resistant to any other type of environmental conditions. They are also unaffected by constant switching on and off, as their performance does not degrade after numerous cycles.
  • Cold resistant: LEDs work more efficiently in cooler temperatures, unlike other lights. This is why they are widely used in freezers, cold rooms, parking lots, and boundary lighting.
  • No harmful emissionsUnlike incandescents that produce UV and IR rays, however, in LEDs, there are almost no UV or IR emissions, which avoids any kind of risk of burns and heating.

Many people are drawn to television images of people ripping materials out of a dilapidated house, restoring it, and selling it for a substantial profit. The benefit obtained from each change can be modest or substantial, or the investor could lose everything depending on the decisions that are made before or during the process.

My house move budget checklist

Before you go shopping for the perfect rehab property to remodel, you need to create a budget for the entire project, not just the purchase and rehab expenses.

The first item on your checklist has no direct monetary value and cannot be added to the expense column. However, it is an important “ingredient” for your budget: an excellent credit rating. Unless you are financing an investment entirely with cash or privately, an excellent credit score works in your favor with banks, especially when the loan is for a high-risk project like a currency exchange.

Now, let’s see the details of your budget:

• Post-Repair Value (ARV) – Determining the ARV of your potential investment is the starting point on which you can base your expected return on investment (ROI) when the home is marketed. A trusted real estate agent can help you estimate the ARV of the property.

• Rehabilitation costs – These will vary widely depending on the amount of rehabilitation work that needs to be done. An estimate repair form can be helpful in keeping track of all necessary repairs.

• Financing / maintenance costs: these include not only the loan but also the costs of maintaining the house until it is sold:

o Financing loan (s)

o Property taxes

o Public services (gas, water, electricity)

o Property insurance

o HOA / Condo Fees

An important point to note here is that the longer the rehab work takes and / or the longer the home stays on the market after rehab, the higher your maintenance costs and the lower your profits.

• Realtor Fees: You can sell your home invested yourself (FSOB – For Sale by Owner), but if you are looking for the fastest turnaround on your investment – and earnings – relying on a good realtor is worth paying the commission. (and it actually helps you save money on your flip project in the long run).

• Forgotten Costs – These are additional home remodeling expenses that are often overlooked, including:

o Inspection fees

o Loan interest

o Contingencies

o Closing costs

The average budget for an experienced flipper was divided into these cost percentages:

• 53.25% = purchase price

• 20% = Labor

• 6.5% = Materials

• 8% = Transportation expenses, public services, commissions, etc.

• 12.25% = profit

Realistic budget = reduced risk

There is nothing that can completely eliminate the risks inherent in relocating, but creating a realistic budget is one of the key ways to mitigate some of that risk. Another way to “manage” some of the risks is to gain a thorough understanding of home remodeling before making your first investment. And one last way to manage risk is to follow the old adage and never invest more than you can afford to lose.

Best wishes for the success of your home!