Flipping a Foreclosure or Distressed Property!
There are still opportunities to flip properties to make money. The first rule of thumb is to make sure you have your finances in line to purchase quickly as well as a reserve to remodel and possibly hold the property for a while.
If for some reason the market does not get you the end results of the initial cash you had planned to make, be willing to possibly put it in on the rental market to keep the current mortgage covered.
Many lending institutions have now started working with local Real Estate agents to sell these properties.
If you are self motivated and can do some of the leg work and labor yourself there is plenty of money to be had.
Most people cannot see past the improvements needed to sell a property. If you are willing to give it a facelift and look past the current condition this may be a way to increase your income as well as build up a great rental portfolio.
