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Flipping Properties: Generate Instant Cash Profits in Real Estate

Flipping Properties: Generate Instant Cash Profits in Real Estate

List Price: $18.95
Your Price: $12.60
Product Info Reviews

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Rating: 5 stars
Summary: Study Bronchick¿s materials and you¿ll be financially FREE!
Review: This book is a "step-by-step" guide through one of the very profitable and lucrative Real Estate investing principles. You'll get all the fundamentals needed to successfully complete your first flipping deal. You'll be on your way!

I've bought a lot of Bronchick's manuals through years and made hundreds of thousands of dollars with them. One of the first deals was an out-of-state seller whom I found using one of the advertising techniques suggested in the book. Since it was one of my first deals, I wasn't brave enough to undertake all the expensive repairs (it was a $500k house), so I decided to advertise to "investors-rehabbers". I used a classified add (like the one in the book) and within a week I sold it for $95,000 more than my purchase contract. That's about 3 weeks total that made me more money than I had been making as an electrical engineer with a Master of Science degree. You guessed right, soon after that I was able to leave my corporate job!

Please realize, the above transaction is not typical, most of my profits are in the range of $3,000 to $20,000, but again it doesn't take much to do a few of those a month either. You also need to know that this is not a "get rich quick" business, it takes time to learn it, but it is one of the most hassle free and most profitable businesses out there. And it's one of not many businesses you can start with very little or no money.

If you ask me why to buy this book, I'd tell you this. First, if you're just starting, this book will teach you about flipping properties, which is one of the easiest and risk-free (if you learn how) ways to make money in Real Estate, great place to start! Second, it teaches you in a methodical easy-to-learn way the mechanics of Real Estate transaction. Plus, it gives you all the legal paperwork and agreements you need (which are time tested and proven). And you can't beat the price -- it is soooo cheap!

Happy investing, and say to your boss bye-bye!!!

P.S. Almost forgot... Your relatives, neighbors and friends may tell you that "flipping" is illegal. What they are referring to is a scam where some investors together with appraisers defrauded lenders, and that has nothing to do with the concept described in this book. ...

Rating: 3 stars
Summary: Mixed reviews on this one...
Review: I just received Flipping properties two days ago. The good news is that it is a very easy book to read and comprehend. I have already read it cover to cover twice. The book provides some excellent forms and is very good in defining basic Real Estate 101. It gives some good ideas and theories, Gee, it seems a lot of the reviews in RE are very generous.

I see some holes in the theory of "Flipping Properties". The major theme of Bronchick & Dahlstrom is to go out and find (or hire someone, " a scout") a distressed house with a motivated seller, make an offer, approximately 80% of the value of the home, Make a small deposit, ( $500-$1000) ,while promising the current owner they can close within a short period of time. Then, or concurrently, find an investor, ( retailer) to purchase the property and while giving yourself a profit.

This sounds good an very easy to do, but how many people or contacts would you or could you find to finance 80-100K? I am talking about the average person. The only suggestion is joining an investment club? And networking? Great, I am going to front money to trust people on the Internet? Also, even if you can flip the property, why would an investor continue to use your services on a double close? Lastly, the Flipper is required to have an exit strategy . The answer is if the investor backs out, then just purchase the property yourself. Great, I am sure I will get bank funding when I am already holding a note on my house for 300K! The book does not give enough info on how to finance, HUD, foreclosures, Etc, Also, the tiny little adds in newspapers doesn't sit well with me, as you will see.

Overall , the book is interesting, and I believe you can get an idea of the theories behind flipping properties but this book is not the total answer, I am going to take some of the info and combine it with info from other books and financial institutions.

Rating: 4 stars
Summary: Don't flip out
Review: Easy to read. Just the sample forms and ads alone are worth the $15 price. You may need to understand the mechanics of real estate investing to follow well. Covers some techniques that only a seasoned investor/dealer would consider but I found the step-by-step to rehab a property and a link to how not to do business under your personal name very helpful. I created a checklist for my project folder so we don't miss anything. The basics work! This book is a good stepping stone to your garden of financial freedom.
I don't see however doing a double closing or convincing a non-delinquent owner to sign over his deed to me. My experience this last year is that I have had to Overbid on properties and have absolutely no contingencies (weasel clauses) just to get a counteroffer. Make a note of the basics and investigate from there. There's no magic, only work. PUSH247

Rating: 5 stars
Summary: One of the best real estate books on the market
Review: I have purchased a number of paperbacks on real estate, this being the best value. The hot real estate market has results in a dozens of new books on the shelves, but few with as much practical, useful information as this one. Whether you are interested in flipping properties (legally and ethically) or any other avenue, this book is worth the read. It contains several chapters of good, legal "nuts & bolts" information on real estate transactions - deeds, mortgages, contracts, etc. This type of legal detail is lacking on every other book I read.

Although focused on flipping properties, it also has several other useful chapters related to rehabbing, finding motivated sellers and running your real estate investment as a business.

Rating: 5 stars
Summary: A real straight-shooter
Review: This book is a straight-shooter, giving real down to earth information about making money in real estate investing. An alternative to long-term investing, the book suggests buying properties at a discount and selling for a quick profit. This strategy is very smart considering that the future of the economy is uncertain. I have seen many investors lose money trying to "ride the market." This book shows you how to find properties at a cheap price, which is a smarter way to invest.

Bronchick's attorney background is evident, since this book is chock full of legal details involved in real estate paperwork. The chapter on taxes was excellent and understandable. The legal forms are a real bonus, too. You can't go wrong with this book!

Rating: 5 stars
Summary: Highly recommended for beginning investors!
Review: I am an experienced real estate broker, and I was looking for a good text to recommend to my beginning investor clients - this is it! The book reads very well, considering the vast amount of technical information about deeds, contracts, escrow, title, etc. No hype in this book, just practical, ethical information about the "quick turn" real estate business. Some very good sample forms are included in the appendix as well. If you are getting started as an investor, this one should be on your list of MUST-READ books!

Rating: 2 stars
Summary: Disappointing Guide to Flipping Properties
Review: I bought this book expecting a guide to flipping properties, but it ended up being a terrible disappointment.

First of all the length of the book is deceptive as they use large font, wide margins, and frequent subheadings. In standard format it would fill around 75 pages at best.

More importantly the content is unoriginal and of no help. There is no definition of what the author considers "flipping" a property. There are no concrete guidelines to use--only vague generalities found in any real estate book.

I think the best comparison of this book would be to a stock picking book with the premise of "buy low, sell high" but with no real information on how to value stocks, how long to hold, how to buy on margin, etc.

Honestly, this is the first negative book review that I've written. Save your money and read the book in the bookstore to see for yourself...then put it back and move on.

Rating: 5 stars
Summary: Best Bang for the Buck!
Review: This book reads very well and contains a lot of practical ideas. I have been investing in real estate for about 10 years and have read a lot of books, most of them hype and fluff. You won't find anything but solid, good advice here, despite the "instant riches" hype in the title.

The book starts out by covering the difference between legal and illegal flipping, an issue commonly misunderstood by real estate brokers and lenders. It then goes on to cover real estate law, finding motivated sellers, drafting contracts, negotiating, estimating rehabs, and funding deals. It wraps up with a nice chapter on the real estate business, going full-time vs. part-time, etc. Lot of bang for the buck.

I've done quite a bit of flipping of properties, and this book really hits the highlights of the process right on the mark. Keep in mind that some lenders (particularly FHA) are not as cooperative in lending on properties that have been flipped recently. This is backlash on the dark side of the business, the fraudulent activities of a few bad seeds. This book, however, will keep on you on the straight and narrow - definitely a must read.

Rating: 1 stars
Summary: Weak
Review: Just a gloss over. Offers some weak advice. Look for the worst house in the best neighborhood - ????? Everybody and their dog does that, and how many ratty houses are there in good neighborhoods? For a book like this to be worth anything it needs to offer advice you cant get elsewhere. Try "Fast Cash" by LeGrand for better.

Rating: 3 stars
Summary: They Call Him Flipper
Review: Informative book, though slick as a dolphin's back. The biggest drawback, in my view, is that the strategy is based solely on distressed properties--the so-called motivated seller. The authors make this clear from the get-go, defining "distressed property" on page 3, and cautioning the reader throughout the book to deal only with motivated sellers.

This approach makes good sense, but it cuts out a world full of wonder: the physically sub-par house in the upscale neighborhood. Sellers in such places are seldom highly motivated, but who can deny that there are profits to be made there? Too, distressed properties are the domain of the giant wholesalers such as Homvesters,Inc., so you have very well financed competition.

I read all the way through just to see what the process was like in these sorts of transactions. Title problems in particular interested me since motivated sellers are apt to be up to their eyeballs in liens and judgements. On page 79 I found this information: "Even if the title report shows problems with the title, the contract is still in force if the seller can cure the problems before closing."

And if the seller can't, which is highly probable, since they acquired the problems and signed a contract to sell the house to get out of the problems? Well then the authors have 3 solutions for you, the buyer, and they all start with "Sue".

1. Sue for specific performance
2. Sue for damages
3. Sue for return of the earnest money

So unless you're a lawyer, which Bronchick is, you can kiss your prospective profits goodbye just prior to signing and sending a check to the lawyer of your choice. No one you see is smarter than he.

Not surprisingly, the authors recommend doing business as a corporation, since we "live in a litigious society...Eighty million lawsuits are filed every year." Scandalous. In addition, Bronchick and Dahlstrom provide timely and comic advice for keeping your marriage together as you make the transition to flipper: "If you are married, make sure your spouse reads this material with you and participates in the fun process of making money."


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