Tag Archive | "Make Money"

How To Flip a House and Make Money

How To Flip a House and Make Money | Know What You Are Doing

House Flipping

Learning how to flip a house and make money can open up new money making opportunities to anyone who likes to speculate in real estate.   There is a fine line between making money flipping a house and having it turn into a money losing fiasco. It all comes down to finding the right house to flip and being realistic about the cost and timeline for the renovation project.   Taking the time to think a flip through and do some planning can save a lot of money and heartache in the long run.

Let’s face it, flipping a house sounds very alluring to anyone who likes to make money. Television shows, such as HGTV’s Flip or Flop, have popularized the idea of house flipping to make money and brought wide awareness to the fact that people are making money every day flipping houses.

But, of course, like most things, it is not as easy as it appears on television to flip a house. A person who buys a house that is in poor condition with the intention of fixing it up and selling it has to be realistic about the fact that unexpected costs and delays often occur when trying to fix up a house that has fallen into disrepair. There is the potential for the costs to be so great that a house flip turns into a money-losing venture.

How To Flip a House and Make Money – Do Research and Plan Ahead

House FlipThe difference between making or losing money on a house flip is often determined before a flipper even buys a property. This is because proper planning and realistic expectations are crucial to making money as a house flipper. While you may not be able to know the exact condition of a home you are considering buying as a flip, you can do research regarding expected issues that may come u, given the home’s age and condition. You can use this information to formulate a price to buy that makes economic sense, based on how much money you need to invest in the house to bring it to modern standards.

Since, homes that are in poor condition often have unexpected problems that cannot be foreseen, it is a good practice to increase your renovation estimate by ten to twenty-five percent to account for unexpected surprises once you get to work. Having a ten to twenty-five percent contingency built into your cost estimate will help you avoid house flips that have the potential to turn into money losers.   At the end of the process, if the contingency money is not needed, then it will add to your bottom line profit when you sell the house.

You should also research what similarly sized houses in the area are selling for that are in updated condition and if the real estate market in the local area is trending up or down. Keep in mind that there are many factors that ultimately determine a house’s value. These include, but are not limited to: schools, access to transportation, the view’s the house provides, and nearby recreational facilities. These are important considerations to think about, so you can develop a realistic expectation regarding what the house you are considering flipping will sell for once it has been renovated and is on the market and up for sale.

The most crucial moment in the house flipping process is when you add up your estimated purchase price, renovation costs, and contingency and compare the total costs to what a modern renovated house of similar size in the area you are flipping is selling for at the moment. If the profit potential is high enough to justify flipping the house, you can make a sound decision regarding whether to proceed.

How To Flip a House and Make Money – The Nuts and Bolts

Finished HomeTo flip a house and make money, it is important to focus on certain parts of the house flipping process. Once you have selected and purchased a home that is economically suitable for flipping, stay focused on what you need to do to renovate the house as quickly as possible, implementing the most important upgrades, so you can present your renovated home to homebuyers.

Set up a realistic project schedule, keeping in mind which tasks should be done before other tasks. Chances are your schedule will be blown at some point during the renovation project, but it is a good idea to have a schedule, so you know how things are progressing.

Find good contractors to work with. Your reputation as a home renovator is at stake and you want to save money. The best way to keep your reputation in good standing and save money on your house flip is to find good contractors in your area that charge reasonable rates. If you get your house flipping business going, you should be able to secure some discounts from contractors that you use often. Contractors like to secure relatively steady work, and will likely cut you a break in exchange for consistent work opportunities.

Be prepared to get your hands dirty and get to work. Many house flippers actively work on tearing apart and renovating the homes they are flipping. This hands-on approach has a number of benefits. First off, you can save a decent amount of money that will increase your profits once you sell the house. Secondly, it ensures that you are engaged and involved in the house flip and you are there to make quick decisions when expected circumstances arise.   This too will ultimately save you money, since you can quickly decide how to proceed and get your contractors back to work. You cannot afford to have contractors work only a part of workday when you are flipping a house.

Do not forget about the exterior of the house when you are getting ready to list it for sale. It does not matter how nice a house is inside, some buyers will not even come in and take a look if the outside is unappealing.   Make sure the house has enough curb appeal to entice buyers to come in and take a look.

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Ways To Make Money On Amazon and eBay

There are many ways to make money on Amazon and eBay.   Some are active and involve a lot of effort, while others are passive and involve minimal effort. The important thing is to understand the different ways to make money on Amazon and eBay, so you can join the millions of people that are supplementing their income by making money on these popular online shopping venues.

Despite an economic recovery that began years ago, times are still tough for many people. The financial demands of modern life are often just too much to be covered by a regular job. This has lead millions of people to turn to the Internet to find ways to make money. The good news is that there are many ways to make money on the Internet. Amazon and eBay are two of the most high-profile web portals that anyone can quickly start making money by either using them or referring business to them.

How To Make Money On Amazon

Amazon Store

The active way to make money on Amazon is to open up an Amazon Store and sell items directly to the public. This may seem daunting; however, it really is not all that difficult. Amazon makes it very easy to open an online store through their site. The difficult part is figuring out which items the public is looking for that will generate sales through your Amazon Store. You need to find items that the public wants and cannot be purchased easily at a local store. You will have to buy items in bulk at wholesale cost from a manufacturer or supplier. Once you have them on hand, you can start selling them through your Amazon Store.

The passive way to make money on Amazon is to write articles about products sold on Amazon and include advertisements within the articles back to the products on Amazon. Or you could place advertistments for Amazon products on websites that you control.   You do not have to have to sell the products directly or even know the people that are selling the products.   You just need to set up an affliate account with Amazon and include your affiliate code in the links, so you get credit if someone is referred from one of your advertisements.

If products are purchased by a person who was led to the product on Amazon through one of your referral advertisements, you get paid a comission that ranges from 3% to 10%. Amazon sweetens this arragement by paying you a commision based on a referred customer’s entire purchase. This can lead to significant earnings. For example, if you write an article about gardening tips, and someone follows a referral advertisement link alongside your article to order a gardening book on Amazon, and then goes ahead and buys the $30 book and $200 worth of gardening supplies, you will earn a commission on the entire order $230. Not a bad way to earn som extra money.

How To Make Money Using eBay

EbayThe active way to make money on eBay is by becoming an eBay seller by opening an eBay Store. Find items that the public wants and sell them directly to them through eBay.

Do your homework and be determined. Doing some research regarding which products sell well on eBay and how to properly sell them will go a long way in ensuring that you are a successful eBay seller. Use the tools that eBay provides that allow you to see what products are trending towards becoming more popular and which products are currently selling the greatest amount. Try to think ahead of the curve.   Read articles and talk to people to identify products that are currently hot and ones that are just starting to get popular. Then, figure out a way to buy them wholesale at a low enough price points that you can profit by selling them on eBay.

Although it is not entirely necessary, start out by selling products that you feel strongly about and know a lot about. You will naturally do a better job selling something you believe in and understand thoroughly.

Market the items you have for sale on eBay by building a Facebook page that features your store. Another good way to market products you have for sale on eBay is by creating a website or blog that discusses your products to drive traffic to your product offerings in your eBay Store.

It is very important to add well written product descriptions and photographs for the products you sell on eBay. Professional looking product descriptions and photographs will serve to increase your chances of getting users to view and purchase your products. Make sure you include relevant keywords in product descriptions, so users find them when searching.

The passive way to make money on eBay is to place ads for eBay products on the Internet or write articles about products sold on eBay and include advertisements within the articles that focus on relevant products sold on eBay. Make sure you have a referral account set upwith eBay and link back properly to products on eBay to get credits, if anyone purchases a product from one of your ads or articles.

Tips Regarding Making Money On Amazon and eBay

TerapeakThe more you put into selling products on Amazon and eBay, the more money you will make. Use the site’s tools to figure out what products are hot. Go beyond the sites and use third-party tools, such as Terapeak.com, which analyzes all sales on Amazon and eBay. Terapeak.com is an excellent tool to determine which are the best products to sell.

You must build a good reputation as an Amazon or eBay seller.   This will take time. It will require you to be prompt with your order deliveries and do well with responding to customer complaints or problems.   Good response times and good customer service will lead to better sales in the long run, since buyers tend to buy from sellers with good ratings.

If you are looking for products to sell, check Liquidation.com and Viatrading.com to see if they have deals on products you can sell.   Also, check local businesses, garage sales, and thrift shops for products that you may be able to sell online.

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Posted in Business AdviceComments Off on Ways To Make Money On Amazon and eBay

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