5 Things You Should Know Before You Flip A Property
1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intensions of making a huge profit only to find out that they could not make any money after all the renovations because the purchased price of the house was to high. When you purchase your property you need to be sure that you buy the house with enough money to make renovations, have carrying cost, and add about 5 $6,000. Now, cost is at $147,000, and that is if everything goes as planned. Profit is under 10,000 dollars. The mistake was made at the purchase at the home, not the sell.
2. Get an inspection on the home - Get a complete inspection done on your property. By, spending a few hundred dollars on this expense you can save thousands in problems that you cannot see. Foundation, Pest, Wood Rot, Etc... By, getting a full inspection you can rest assured that you know every thing that is wrong with the property before its to late. In the contact for the house you need to make sure that you have 7 days to have a inspection preformed, and if the inspection finds problems that are going to cost more money that you are willing to spend you can get out of the contract with no penalties.
3. Don't do the work yourself: - Get a contractor or several sub-contractors and have the work done quickly. You need to have you house flipped ASAP, so that you can get it on the market and get it sold. When I started flipping my brother and me did a house together, and we did all the construction. I had a construction background and figured it would save thousands, but it took us over 4 months to get the work done that a contractor could have had the work done in a month. But, we trying to save money on our flip did all the work on our time off and after work, and it just took to long. On our 2'nd flip we used contractors for almost everything and had the house completely flipped with a new roof, new air conditioning, new hardwood, and much more in only 3 weeks. We did not have to spend all our time working on the property and were able to spend that time looking for the next deal. This is how you get rich in real estate.
4. Place the property for Sale 1 to 2 percent below market value: If you are wanting to flip real estate and make money the object is to buy and sell the property as quickly as possible, so that you can move on to the next house. If you purchase a house and try to sell it at top dollar to make and extra couple of thousand dollars on your flip, and end up holding it for 6 months you are loosing money. Get the house on the market at a price that is going to blow the competition away, and you will sell it no matter what the market conditions. On our second house the market for selling house went down do to the housing market as a whole, and the tightening of the loans across America. We were told that you could not sell a property in this market, but we went ahead anyway and flipped our house. After 3 weeks on the market we had 3 people wanting to buy the house. Why, because we offered it at such a great deal that people wanted to jump on it. That is what you have to do especially if the market is slow.
5. Use a real estate agent - Do not try to sell you house on your own. Harness the power of a real estate agent and the power of the MLS system. When you do a FSBO you are depending on people driving by your house and seeing you sign, with a real estate agent you have some one actively marketing you house to get it sold. Once again this will free up more time for you to look for more great deals. If you want to help the process I have found that craigslist and listing you house in google adwords help to, but I use these tools with the help of a agent to make sure I have all my bases covered.
I hope this article has been helpful with the basics needs of flipping a house. If you will study and learn you will make money. But, do your homework before you purchase a house, and make sure that you can pull a profit on your deal. Then, make it happen!
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Alternative Options for Treating Allergic Rhinitis
by: Stacey M Kerr MD
Here in northern California, allergies are a significant health problem leading to fatigue, sick days from work and school, and secondary infections. Allergic rhinitis is a reaction to seasonal airborne allergens. It affects about 7 percent of the population of North America and is a risk factor for 88 percent of asthma patients. We have some excellent prescription medications for treating this, and there are many over-the-counter medications available also. However, BEWARE of the sedating effects of those nonprescription medications!!! Recent studies have shown that an individual on a therapeutic dose of diphenhydramine (Benedryl) is a more dangerous driver than one who is legally drunk on alcohol.
Fortunately, there are also some effective alternative therapies for allergic rhinitis.
Remember: no matter what method you use to treat your allergies, nasal rinsing to clear the mucus membranes of trapped allergens is essential. It only takes about 30 seconds, doesn't hurt a bit when done correctly, and makes all the difference. I recommend Nasopure®, a product developed by Dr. Hana Solomon, a pediatrician who has put together in one simple kit all you need for successful nasal rinsing. There is an excellent article about this on the Nasopure website (www.nasopure.com). If you are regularly using your Nasopure®, and still having difficulties, you can try some of the following remedies without significant side effects.
Vitamin and mineral supplements:
* Vitamin A - 10,000 IU/day
* Vitamin B6 - 50-100 mg/day
* Vitamin B5 - 50-75 mg/day
* Vitamin C - 1,000 mg/day in 3 divided doses
* Vitamin E - 400 IU/day
* Zinc - 20-30 mg/day
In addition some herbs and nutrients can help:
Quercetin has anti-allergy and anti-inflammatory effects if you take it 250mg two or three times a day.
Freeze-dried stinging nettles (Urtica dioica) can relieve symptoms of allergic rhinitis at a dosage of 300mg twice a day.
Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), also called fish oil, can help asthma patients with allergies by stabilizing the airways. They come in capsules and the total dose of the combination should be 2-4 g/day.
Acupuncture has given many patients significant relief. The Chinese medicine paradigm is very different than Western medicine, so I can not explain the mechanism of action. But I know that it is effective!
See your doctor about allergy symptoms if you are unable to manage them on your own - the nonsedating antihistamines and anti-inflammatory nasal sprays available today are excellent in treating this significant health problem!
Stacey Marie Kerr, M.D. graduated from the University of California Davis Medical School in 1989 and is currently a board certified family physician. Dr. Kerr is a member of the California and American Academy of Family Physicians. She holds a B.S. in Education/Special Education from the University of Missouri, Columbia Missouri. She hosts a website the-doctors-inn.comthat provides personalized answers to medical questions.
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