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Flipping Houses For Canadians For Dummies



Flipping Houses For Canadians For Dummies

Ralph R. Roberts, Joseph Kraynak (With), Camilla Cornell (With)

ISBN: 978-0-470-15920-0 December 2008 384 Pages

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Lay the foundation for successful flipping and bring home the bucks

Want to flip houses? This no-nonsense guide gives you the inside scoop on buying, renovating, and selling property, with plenty of time- and money-saving tips to keep you on budget and on schedule. You get savvy strategies for negotiating deals, modernizing for maximum profit, marketing your home, avoiding common blunders, and staying afloat in a slow market.

  • Make money in any market — discover simple guidelines that will help you to profit no matter what the economic climate

  • Secure funding for your flip — explore all your options for the capital you need

  • Build a budget — understand all the costs you may face and avoid any costly surprises

  • Maximize your tax savings — get valuable tips on what expenses you can deduct

  • Find buried real estate treasures — learn how to spot homes with untapped potential and how to buy homes from foreclosures and tax sales

  • Buy property at the best price — find out negotiation secrets that will add thousands of dollars to your bottom line

  • Renovate your property for maximum profit — make renovations that add real value to your home

  • Market your home — dazzle prospective buyers with through marketing materials and home staging

Open the book and find:

  • Who you need on your team

  • How to determine a realistic resale price

  • Creative financing options

  • What questions to ask before you buy

  • How to buy foreclosure properties in the U.S.

  • Which quick fixes enhance a home's value

  • When to take on major structural enhancements

  • How to negotiate the sale to maximize your profit

Introduction 1

Part I: Laying the Foundation for Successful Flipping 7

Chapter 1: Wrapping Your Brain Around the Idea of House Flipping 9

Chapter 2: Do You Have the Right Stuff for Flipping? 23

Chapter 3: Devising an Effective Flipping Strategy 39

Chapter 4: Building Your Dream Team 51

Part II: Fiddling with the Financials of Property Flipping 67

Chapter 5: Guesstimating Your Potential Profit 69

Chapter 6: Securing the Funds to Fuel Your Flip 81

Chapter 7: Trudging Through Some Taxing Issues 103

Part III: House Hunting with an Eye for Flipping 111

Chapter 8: Scoping Out a Fertile Neighbourhood 113

Chapter 9: Hunting for Houses in Your Target Area 127

Chapter 10: Inspecting the Property with an Eye for Rehab 143

Chapter 11: The Art of Haggling: Negotiating a Price and Terms 161

Chapter 12: Closing In on Foreclosure and Tax Sale Properties 179

Part IV: Fixing Up Your Fixer-Upper 195

Chapter 13: Prioritizing and Planning Your Renovations 197

Chapter 14: Giving Your Property a Quick Makeover 213

Chapter 15: Perking Up the Curb Appeal 229

Chapter 16: Dazzling the Crowds with Updated Kitchens and Baths 245

Chapter 17: Sweating Through Some Moderate Makeovers 261

Chapter 18: Reconfi guring Spaces and Other Structural Overhauls 273

Part V: Sold! Selling Your Rehabbed Home 287

Chapter 19: Marketing Your Home 289

Chapter 20: Staging a Successful Showing 301

Chapter 21: Negotiating the Sale to Maximize Your Profit 313

Part VI: The Part of Tens 325

Chapter 22: Ten Signs of a Great House-Flipping Opportunity 327

Chapter 23: Ten Renovation Cost-Cutting Strategies 333

Chapter 24: Ten Common House-Flipping Blunders 339

Chapter 25: Ten Strategies for Surviving a Slow Market 343

Index 347