A clear head and realistic view of what you’re doing are keys to success in the high-risk, high-reward field of flipping.

Here a few tips to keep in mind as you begin:

  • Learn all you can about every aspect of flipping.  Attend seminars on real estate investing.  Read books by respected experts. Beware of accepting information from direct mail or Internet solicitations without verifying their accuracy.
  • Create a solid business plan and stick to it.
  • Keep a cushion of cash so you can move quickly on bargains or to take you through the lean times.
  • Be prepared for the unexpected.  Develop worst case scenarios and a backup plan for every property you buy.
  • Build a team of experts to guide you through every aspect of real estate investment.  This includes a REALTOR®, mortgage banker, contractors, tax accountant, and lawyer.  All have their role to play.
  • Unless you are an expert in construction, always get a home inspection done to find hidden defects that could sabotage your investment.

 

Contact Infinity Realty Guam today for the real estate company that will provide quality service you deserve.  (Click here).

DISCLAIMER: This information is provided for general awareness only and is not intended for the purpose of providing legal, accounting, tax advice or consulting of any kind.  Please consult with a professional in their respective expertise for complete details.