Five Keys to Real Estate Flipping Success

Make your fortune in real estate. It is not that hard once you get the hang of it. Real estate flipping can be an extremely high paying career, but I see way too many people give up on it. The turnover in this industry is exceptionally high. I noticed the high turnover early on and have watched to learn why some people kill it while others disappear. This has been important to monitor to help myself and my clients last in this amazing business.

I have been in the real estate field for the last 16 years and my hard money lending company finances around 150 deals a year. Here is what that experience has taught me about being a successful fix and flipper.

Mindset: This is where it all starts. For the last 3 years, I have felt myself fall into a little lull and have realized that this occurred because of my mindset. Your mindset could be a lot of things, but the basic concept is that what you believe will happen… does. Sometimes just convincing your mind that you will hit a goal takes work. Not to mention the work that it takes to actually hit that goal.

Focusing your mind on positivity is a great start, but you really need to believe you deserve the success you desire. Meditation and affirmations are fantastic ways to accomplish this.

Hustle: Nothing is going to be given to you. When I was going through my struggles to hit some financial goals, I had to keep reminding myself of this. Times can get hard and things can feel unfair, but the reality is, no matter how much you don’t want to believe it, you are the only one responsible for your success. I would tell myself this over and over. “If I want it, I need to earn it” I had to get up in the morning. I had to deal with the problem on my plate. I had to stay up late or work on the weekend. I had to put in the work to get the results. Because I decided to be successful, I decided to work hard.

Network: As we have learned. It is not what you know, it is who you know. I constantly try to team up with people smarter than me, that can both help me learn and help me get results. This has resulted in millions in profits. I also feel very lucky to have a network that can solve just about any problem I run into. If I am rehabbing a house and run into a problem, I have a list of people I can call for help. If they don’t know how to help they will know someone who does. I lean on my attorneys, my CPA, partners, wholesalers, and other professionals on a regular basis.

Education: To make my top five list you know I believe this is important in your success. Constant improvement is essential and the exciting thing about this, especially early in your career, is that growth is exponential. As you learn and implement ideas into your business, your business grows at a faster and faster pace. Obviously, for this to work you will need to learn AND implement. Many people learn all about investing and never invest. That comes down to the investor mindset. That’s why, I believe, you need all five of these essential keys to be a great fix and flipper. The good thing is this is possible for everyone, including you.

Access to Money: So, this one might be self-servicing because I am a lender, and this could fall within the Network category but let’s face it, if you don’t have money you don’t do deals. Money can come from many sources including cash you have in the bank, money you borrower from institutions, partners, private and hard money loans. Many times, you will need a combination of these sources to get a deal done or to maximize profits. This can all be learned as part of your education or you can choose to work with a professional that can advise you on the best way to navigate this complicated subject.

Choosing the Best Green Home Builder

Today many people are “going green”, which means that they are becoming environmentally friendly in how they live their lives and minimizing the harm done to the earth. When some people decide to build their home from the bottom up, they decide to have a green home builder build their home. This contractor would build their home with low environmental and energy efficiency in mind. To find a green home builder you should talk to the contractors in your area. Some that will travel to your area to build your home but their services will add more expense to the cost of your home.

To ensure that you will have the best green home builder ask them what type of building material they will use. You should also inquire about their disposal methods to make sure they are in compliant with sustainability practices. The materials that they should use are non-toxic when possible, and environmentally friendly. They should also be materials that come from renewable sources, or sustainable material. This can include materials from homes that have been knocked down. This material can include old doors, cabinets, some of the wood to accent the home such as using the material for ceiling beams, and more. They should try to avoid using plastics and choose their wood carefully. You should ask to see examples of the green projects they have completed. Their construction philosophy should focus on green building. It should not just focus on using green techniques as a secondary technique. Make sure that the contract you sign states that it will be constructed from sustainable and green material.

A home builder may tell you that they are using green building techniques but it could be easy for them to start using less environmentally friendly techniques and designs to save money on materials so they can put more money in their pockets. This is why you need to be sure that they are a reputable home builder and have good references as a green construction company. They need to be knowledgeable about green techniques and processes and committed to green construction and design. If you want your new green custom built home to be built using unconventional techniques make sure the home builder can demonstrate they understand the techniques you want and can do them correctly.

Before you choose a green home builder, you should educate yourself on what constitutes a green home and the process to build one. This will help you to determine a good green home builder and to know if they are cutting corners using non-environmentally friendly material. Having a green home can save you money on heating and cooling costs, and if sustainable material is used it can save these materials from being disposed of improperly.

The Benefits of Having an Energy Star Certified House

For two decades, the Environmental Protection Agency (EPA) is pushing energy-efficiency in homes. From this, the Energy Star in new homes was conceptualized. It aims to prevent pollution of the air while at the same time giving homes the much-needed adjustments towards energy efficiency.

For home buyers who are on the hunt for their dream homes, it is very important to look for Energy Star compliant homes. While the prices may be higher than homes established right before its implementation, buyers are guaranteed to save along the way from the prices slashed on energy costs.

And because going green is an in thing, those who invest in Energy Star homes are also assured of profits when they choose to sell them.

New construction homes are also required to follow new building codes. These requirements are also in line with the energy-efficiency methods prescribed by EPA.

How about appliances that you’ll be putting in your new homes?

You don’t have to worry too. Appliances manufacturers are also following Energy Star prescriptions. Thus, when shopping for TV, refrigerator, aircon, or any other home appliance you want to add in your new home, just look for the Energy Star sign. With this, you are assured that they are more energy-efficient than same appliances without such compliance tags.

Any other benefits, aside from less operating costs on monthly basis?

New construction homes that comply with Energy Star have added benefits. Given that the design is geared to cut energy costs, you can be assured that during warm months, the windows can give entry to natural and cool air. During cold months, the added insulation can provide heat and in fact trap the warm air circulating inside the house.

Another benefit that comes with Energy Star homes is the improved air quality inside the house. The ducts are made sure to be tightly sealed. They prevent air pollutants and even pests from finding their ways into the house. An improved indoor air quality is beneficial to the health – especially to those who have respiratory conditions.

If you are indeed a first time home buyer and you need the help of mortgage lenders, choosing Energy Star homes is quite a good choice. Many lenders are favoring these homes and within your locality, you might just be able to score one with lower origination fees.