How To Make Money Renting And Flipping Homes

912 words - 4 pages

No matter what consumers have been told in the past two years about the health of the economy and interest rates, we cannot elude the general feeling of the American people. In an unfavorable economic climate similar to the one caused after the housing market crashed in 2008 people tend to retract into their "shell" to avoid further loss. For example, before 2008 people purchased houses without a doubt that they could do little work and still see a return on that investment in two years. However, home values did the opposite and people found themselves in short sales and many in foreclosure. The housing crisis was the harbinger of one of the worst economic downturns since the stock market crash in 1929 and the only way we can get through such distress is to be patient and choose our investments wisely. Furthermore, as callous as it may sound, people can significantly benefit from short sales and foreclosures because a housing market where prices have fallen becomes a "buyer's market" and therefore an "investor's market".
Although it is simple to say, "it's an investor's market, so I am going to invest!", you must practice patience. "From patience comes knowledge and from knowledge comes wisdom", is a philosophy that I live by and should be built into an investor's brain before becoming involved with large purchases. To avoid becoming overwhelmed in a world of unknowns, one must compartmentalize and establish priorities starting with establishing a budget.
The budget for demonstration purposes is $150,000. To many people, this is a large sum of money that seems to have no limit on what one could do with it. However, in a healthy economy this amount of money would get someone no more than a two bedroom and one bathroom house in a less than desirable neighborhood. Fortunately, I have the advantage of a growing selection of decent homes in foreclosure. Before moving on however, I must establish the reason of purchasing a house that has been foreclosed on. The primary reason is that foreclosures in a bad economic climate can very well be well kept homes in great neighborhoods that were seized by the bank because the previous owners could not keep up with the mortgage payments. A well kept foreclosure is the ideal situation for me, as an investor, because it means I will have to do little work structurally and I can focus on updating. Making a home aesthetically pleasing is both easier and less expensive which will provide me the highest return on my investment.
After choosing the type of investment, an investor must decide what the investment will become. In this case, my $150,000 investment is best spent on a foreclosed home that will...

Find Another Essay On How to Make Money Renting and Flipping Homes

How to Make Lemonade Essay

814 words - 3 pages How to Make Lemonade Water is the most refreshing drink in the world, and probably the cheapest. People drink water because it's easy to achieve and cost barely anything. Lemon is one of the worse kinds of grapefruit people eat or doesn't eat at all. It taste extremely sour and even bitter if you eat the skin. But if you add these two ingredients together, you get one of the most prolific drinks ever. There are hundreds of ways of

How to make gumbo Essay

634 words - 3 pages Can you name just one famous southern Cajun recipe? Well I can and it’s my favorite Cajun meal. Its basic name is gumbo, but there are many gumbo recipes so I’ll be specific. My favorite is “New Chicken and Shrimp Gumbo” and it’s delicious. I got the recipe from a great cookbook. It’s called “Chef Paul Prudhomme’s Fork In The Road”. Would you like to learn how to make it? If so keep reading and follow along?      Now

How to make money in the stock market. It discusses various techniques that will yield a profit

889 words - 4 pages How to Make Money in the Stock MarketWhen I was 17 years old, I was always looking for a quick way to make a fast dollar. I invested my hard earned cash into a risky penny stock. I got this so-called hot tip off the Internet. I then called up my broker and executed the trade. I was now the proud owner of 1,000 shares of a technology stock named Computer Concepts. The stock was 70 cents per share and they had negative earnings, but I didn't care

Control and Manipulation: How to Make Someone Evil

2345 words - 9 pages . Typically, it is seen that a person may begin to recognize the tell-tale signs of manipulation and choose to ignore or deny them, they recognize the signs and immediately reject them, or they remain ignorant to the fact that they are manipulated. This ultimately leads to how people can become evil, or remain good. Susan Forward shows in Emotional Blackmail that people who are emotional blackmailers can easily make it hard for their victims to come to

Control and Manipulation: How to Make Someone Evil

2352 words - 9 pages cause and effect positions in order to illustrate how not only manipulative circumstances and people are the origins of the transformation to evil, but how the victim receives this manipulation is also another strong factor. How people define what is good and what is evil can be completely different as well as their opinions on whether or not people are naturally good or bad. Within Stephen King’s The Stand, certain characteristics are easily

how to make a wac

11403 words - 46 pages . And made me what I am today. TWO When we were children, Hassan and I used to climb the poplar trees in the driveway of my father's house and annoy our neighbors by reflecting sunlight into their homes with a shard of mirror. We would sit across from each other on a pair of high branches, our naked feet dangling, our trouser pockets filled with dried mulberries and walnuts. We took turns with the mirror as we ate mulberries, pelted each other with

How to Make a Movie

648 words - 3 pages case any shooting areas aren’t available. Any models needed for special effects are sculpted. For example, if a plane crashes in a movie, some movies use models of planes to make it look like a real plane crash. Finally, all props are gathered and a plan for selling and advertizing the movie is made. Money doesn’t grow on trees, though. Budgeting is a huge part of pre-production. The best money strategy is found and money is cut to what can be

How to Make New Friends

1765 words - 8 pages , baseball, basketball or volleyball league. Join a fitness gym and participate in classes and activities offered. This is just a small sampling of things you can do to meet new people and potential new friends. LESSONS LEARNED IN THIS SECTION Find new friends in places where people meet. Join a club, sports team, take classes, attend church or volunteer. HOW TO MAKE A NEW FRIEND Now that we’ve discussed dealing with issues in your past

How to make a knife

853 words - 4 pages How to Make an American Knife Have you ever wanted to make a handcrafted knife? The first step in knife making is finding metal. Yes, any metal can work but you don’t want something too hard or too soft. If it is too hard then when you have to cut it take really long and break you cutting supplies. If it is too soft then you will have to get it really hot and cool it with a hose very quickly. Once you have found the metal then you can start

How to aply make-up

773 words - 3 pages My mother allowed me to start wearing make-up at a very early age. She explained to me that her parents did the same thing for her. It gave the opportunity to practice at a young age so that once she reached high school and college she would know how to wear it. Unlike all the other girls who were restricted before, who now looked like clowns. This went pretty much the same way with me, all my friends were unable to wear make-up until about

How to Make a Quilt

1398 words - 6 pages Quilting is a hobby of mine that has been around since the ancient Egyptians. Quilting is the process of stitching three pieces of fabric together, usually two pieces of fabric sand witching some sort of padding. I have been sewing since I was about seven years old and got my first sewing machine when I was about ten. My grandma taught me how to sew first by hand and then I got to move up to her machine until I got my own. The first step you

Similar Essays

How To Make Money Online? Essay

697 words - 3 pages All of us wish to have money that is earned by our own efforts and continuous hard work. But, many times it’s very difficult for us to buy things not included in our daily need goods because of limited money in hands. Several times we have to suppress our desires and needs because of lack of money and at that point most of the people think how to make money that can fulfill their wishes. If you want to earn more money and are finding different

How To Lower Homes Going Into Foreclosure

1039 words - 4 pages their power to pay their money on time and the full amount. This will not, by any means, lower the loan amount the customer borrowed but it will add more months, maybe years, to what the borrower actually borrowed. By lowering the mortgage payments, the mortgage company will still receive their money and the homeowner still has a home. Instead of just snatching these people’s homes away from them and their families there should be a fund that is

How To Save Money Essay

1152 words - 5 pages Money is essential for our everyday lives and people have to face choosing whether to save up or spend their money. Of course earning our money can difficult considering that it is a necessary asset that affects every aspect of our life. Every day we see people working hard to earn as much money as the can. However how they use using the all the money earned is a frequently debated topic have seen many people who earn money and can no restrict

Hollywood: Promoting Stereotypes To Make Easy Money

1687 words - 7 pages ” (“progressive,” Oxford Dictionary of English). Hollywood, through its movies, wants to help socially reform and progress beyond racial and social divides; until it becomes profitable not to. As with all industries, Hollywood’s business revolves around making money. In the quest for monetary excellence morals can become sidelined and painful stereotypes can become revisited. On the other side, a filmmaker may use their influential position in