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Investing In Real Estate

Doug Clark’s Creative Real Estate Investing

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Doug Clark is known as the new face of real estate. He is a real estate investor and became famous because of his television show, Flip Men. Doug Clark and his co-star Mike Baird watch out for Doug Clark and Mike Bairdforeclosed houses at an auction, renovate or flip the houses, and sell them for profits. Aside from being a TV star, he is also an airline pilot, a documentary filmmaker, a real estate educator, a radio talk show host, and a celebrity event host.

Why is he tagged as the new face of real estate? He is the top real estate educator not just in America but all over the world. Well, throughout the years, Doug Clark continues to do his best to make huge money as possible with the help of creative real estate investing. It does not matter whether the real estate industry is up or down, you can still generate a substantial amount of profit as long as you are creative enough.

Clark firmly believes that you can change your life the way you want to as long as you have the drive, motivation, and tools. Real estate offers a lot of success opportunities. As a matter of fact, if you continue to spin your wheel, you will be able to achieve financial security. In the business of real estate, before you start investing in properties, you should first invest in yourself in the forms of training, and real estate seminars.

Real Estate Investing Strategies Used by Doug Clark

Flipping

In his TV show, Flip Men, Doug uses flipping strategy to add value to the property. He became a successful real estate investor because of this method and so he conducts training and seminars that aim to help other investors learn the ins and outs of flipping. What made flipping a reliable strategy is its effectiveness regardless of the market conditions. The idea in flipping is to purchase a rundown property, renovate it, and sell it for profit. It can be a great source of money, especially for investors who want to generate money to invest in other properties that will offer a continuous flow of income.

Real Estate Wholesaling

In this approach, the real estate investor orchestrates wholesale property flips. The beauty of this strategy is you can invest even without capital. If you have a little cash, you can purchase several properties at a discounted price and then sell them at a much higher price.

Property rental

Of all methods of real estate investing, this is the proven effective way of generating money. As an investor, you buy a property, find a tenant, and enjoy a monthly income. The income you make every month is not at huge as the money you make in flipping houses, but you will surely have a steady income stream. With flipping and wholesaling, you are as good as your last deal. You have to wait for the next real estate deal for you to have income.

Doug Clark on Flip Men

Doug Clark created a documentary film, Foreclosed Boys in 2009. It is all about the foreclosure investing world, and it has garnered awards and recognitions. Armed with his drive and motivation to help others, Doug took his real estate ideas to Hollywood and started hosting the TV show, Flip Men. It is a primetime reality TV show that features Doug and Mike Baird. The two work hand in hand to increase the market value of foreclosed properties. The show was a big hit! Ben Silverman, the former co-chairman of NBC Entertainment became interested in the show and took it to the international arena. Flip Men was aired in other countries like Australia, Canada, Mexico, Peru, Columbia, Dominican Republic, and Argentina.

Doug owes his success in life to real estate. He purchased his first house in an auction, in a matter of three days, he was able to resell it. That experience ignites his interest in real estate investment. He was blessed to have an extraordinary life, and so he wants to help others transform their lives through real estate investing. He takes great pride in helping ordinary people achieve financial freedom with the aid of creative real estate investing.

More information on Doug Clark

Doug Clark graduated Magna Cum Laude with a bachelor’s degree in Economics from the University of Utah in 1997. He worked as a pilot and first officer for Colgan Air. He became a captain for SkyWest Airlines in 2004.

Check out some of the latest reviews of Doug Clark on his Facebook page here.  Watch the video below when Doug Clark was on Dean Graziosi’s Weekly Wisdom.

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Requirements for a Successful House Flip

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A lot of people think that house flipping is all about buying a house, beautifying it, and resell afterwards. House flipping is easier said than done. If it is, then I bet everybody is doing it. For your house flipping project to be successful, there are certain skills you should possess. In this article, we will discuss the must haves for people who want to make it big in the house flipping business.

What You Need For a Profitable Flip

Have a group of expert

Some house flippers go through it all alone in an attempt to save money. However, you have to keep in mind that even the DIY buff is having some difficulties handling flipping construction sitethings all alone. You definitely need help from people who know how to handle the legal, accounting, and construction matters. Look for someone that has had a career in the flipping industry.  As a flipper, you work against the clock. Every second counts because time is money. Have a group of experts to make things a bit easier for you.

You should be a handyman

Your chance of being successful in the house flipping business increases if you are a handy person. You have to ability to find solutions to issues that may arise, especially when money constraints kick in. you don’t really need to have extensive skills. Simple installation of counter-top and changing a sink are some of the things you can do on your own. You no longer have to hire someone to come in and do the job for you.

Excellent lay of the land

Another must have when it comes to doing flipping project is having a good lay of the land. In other words, you need to familiarize yourself about the area the property is situated. You need to know the usual type of home situated in the area, the number of rooms, acreage, and so on. You have to check whether there are potential development in the community such as shopping enters, condos, hospitals, schools, and so on.

Patience

Remember the famous sayings, “patience is a virtue?” well, you definitely need a lot of those when doing house flipping projects. Will you be making mistakes? Well, even the most experienced house flippers make mistakes sometimes. More so, if you are pretty new in the business. There also comes a time when you get emotionally attached to the property which can make it hard for you to resell the property. As a real estate investor, specifically a house flipper you need to have a lot of patience.

Real Estate Deal Analyzer – House Flipping Worksheet

You’ll need a good tool that helps you get the most profitability from your flips. You can find information on a good spreadsheet here that helps to calculate all of your costs with a simple and easy to use interface.

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How to Make Money Flipping Houses

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A real estate investor’s goal is to make profit in just a short period of time. House flipping is one of the best real estate investing strategies. A lot of investors are using it because of its ability to generate high returns despite financial crisis. For you to make money as quickly as possible, you have to find a property that is below its market value, rehabilitate the property, and sell pretty fast.

When looking for properties to flip, you have to consider your budget, the time needed to renovate the house, the type of renovation it requires, and whether or not your target market will like the property. Other relevant costs should be considered too such as the tax, interest expense, and utility fee. Making money from flipping houses is best done when considering these things:

Making Money with House Flips

Partnering with investors

You can save a lot of money if you partner with other investors. Those investors who do not have enough money to fund their investment partner with others so that big income propertythey will not shoulder all the expenses.  Goliath Company is an investor that is interested in income properties in the Las Vegas area.

Build a team of contractors

Some investors prefer to handle everything on their own. However, even the most successful flippers do need help sometimes. Hence, it is best if you have a list of trusted and reliable contractors so that you can contact them right away in case you need help.

Choose the right property

Get in contact with real estate agents as they can help you find a potential property to flip. Choose properties that are below the market value and are located in prime locations. Check the structure of the property as most of the time they define the budget needed for the project. They also define how much profit you can make. Check the structural details of the house. A severely damaged property requires in-depth repair and could severely affect your profit. Focus on houses that need cosmetic repair and update.

Oversee the rehabilitation process

Ideally, overseeing the rehabilitation process can result to more profit only if you know what you are doing. If you are a DIY buff, then you can surely manage the rehabilitation process on your own. However, if you do not have the skills and experience doing property rehab, you might end up causing further damage to the property, which of course increases the overall expenses. Know beforehand what things you can do on your own and what things need help from experts.

Sell the property

To maximize your profit, you have to know how to market the property properly. Make sure that the house is appealing to your target market or else it will be sitting there for a long period of time. Pay attention to details that attract your market the most such as the kitchen, bathroom, and overall aesthetic appeal of the house.
In the house flipping business, you have to identify the needs of your target market. Know your numbers and stick to it. Be patient and consider all important details as they will make your house flipping project successful.

Additional Resources: House Flipping Articles by Dean Graziosi

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Avoiding Pitfalls when Flipping Houses

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House flipping is highly profitable provided you do it correctly. It is not for the weak of heart. You need to make sure that your action is calculated so as to avoid costly mistakes. Feeling nervous flipping for the first time is just normal but you should not allow it to get the best of you. You have to study your target market, conduct a thorough research, and have the positive mindset. Flipping is easier said than done, but if you have the skills, knowledge, and positive attitude, then you will most likely succeed.

Important Elements of Flipping Houses

Avoiding pitfalls is one of the things you have to be certain of. For you to avoid mistakes, you have to take into consideration the following:

Get a Good Inspection

Just because you think that the property is ideal for a flipping project does not necessarily mean that it really is. There is more than meets the eyes. To avoid mistakes,house flipped by money you should hire a licensed contractor to do a thorough inspection to know what you are getting into. Of course, there is money involved as you will hire the service of professionals. The result of the inspection is priceless though as it will help you save tons of money. The inspection report contains extensive details of the house including the budget draining repairs.

Hire the Right Contractors

When it comes to doing house flipping deals, it is of great importance to find a contractor you can trust. Even if you are a Do-It-Yourself buff, you will still need help from experts. They help get the job done in a correct and timely manner. Some of the people you need in your house flipping team are carpenters, electricians, plumbers, flooring experts, landscapers, and the likes. Get estimates and develop a positive working relationship.

Price Your House Flip Correctly

It is important to come up with the right price. If the price of the property is too low, then it will be difficult for you to make profit. If the price is too high, then the property could be sitting in the market for a long period of time. Hence, it is a must to price the property right. Keep your renovation cost to a minimum by focusing only on what needs to be done. Use real estate investing tools right from the beginning.  A good house flipping software can help you get the best return on investment.  Identify areas that need repair and restoration. Check the electrical and plumbing system. For cosmetic upgrade, focus on the kitchen and bathroom fixtures. Anything unnecessary should be avoided as it will only add up to your expenses. You are not going to live there. So, as much as possible you have to avoid being too attach to the property.

Additional Resources for Flipping Houses:

https://sites.google.com/site/scottyanceyevents/home

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Nicole Curtis Incredible Restoration of a 1904 Mansion

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If you are fond of television shows that feature house renovations, then you surely know who Nicole Curtis is. She is the star of the real estate reality TV show, Rehab Addict. If you look at the Nicole Curtis from Rehab Addictname of the show, you can say that it is a misleading title. For people who don’t know what the show is all about the first thing that comes to mind are people recovering from addiction. On the contrary, Rehab Addict represents Nicole’s love and passion for restoring old houses. She does not just do renovation, but she stores old houses to their former glory.

For every episode, she takes an old house, especially the old one and completely restores it. Unlike any other rehabbers who want to change almost everything in the house, especially the old fixtures, Nicole does the other way around. As much as possible, she wants to keep old fixtures and other things that will retain the house to its era and feel. Not only that it will help bring the house to its former glory, but it also saves her money. She is using the cheapest rehabbing methods possible.

Her show and even Nicole herself have been a source of inspiration to other people. Her show, Rehab Addict, is one of the most watched shows in the US. Designers and simple people follow her because they can get a lot of inputs from Nicole, especially when it comes to restoring the house without breaking the budget. If you have watched most of the episodes of her show, you will notice that Nicole Curtis is interesting in saving homes that are about to be demolished. She loves old houses. She feels that these properties are not just things of the past but hold a lot of memories. Her idea is to restore old houses, keep the replacement to a minimum, and bring in a few touches of modern architecture. To Nicole, old houses are the legacy of the United States.

One of Nicole’s biggest restorative projects is a 1904 mansion. Her challenge is how to bring back the mansion to its 1904 feel. When she inspected the mansion, she noticed that some parts of the estate were modified to the 1970s era. The exterior feature of the property is fantastic. It has a full-sized swimming pool and a garage that can hold up to nine cars. The authentic charm of the mansion is in the interior. It has a total of 15 rooms. It has a lot of wood works made from apricot wood, mahogany, and other rare woods. It is the type of the woods used that gives so much value to the house.

The floors and windows are breathtakingly beautiful, but she noticed that some rooms are ripped apart. The bathroom needs the most attention as the tiles were ripped off. They are original Italian tiles, and it is hard to find such type of tiles in this modern era. She searched the neighboring stores but found nothing. Luckily, she has some old tiles in her house, which looks the same as the Italian tiles. It is not the same tiles, but it is the closest thing to it. With her creative mind and magical hands, she was able to get the job done. She didn’t use the same material, but she was able to achieve the 1904 feel. If there is one thing Nicole learned from being a seasoned rehabber, it is to be resourceful. Restoring old houses is challenging because you will have a hard time finding the right materials and if ever you found one, they will surely cost a lot. As a flipper or rehabber, you should know how to play your cards well. Be resourceful and creative and most importantly stick to your budget.

Nicole CurtisNicole Curtis was born on August 20, 1976. She was born in Detroit, also known as the city of workers. Her fascination with classic American houses started at a young age. She is interested in homes that were beautiful once but unfortunately left by their former owners. She became a licensed interior designer in the late 1990s, and her first project was her house. Most of the properties that are featured in her show, Rehab Addict are situated in Detroit and Minneapolis. However, Nicole doesn’t mind traveling around the country as long as she finds an attractive property to renovate. Nicole’s primary goal is to promote the protection and reinstatement of the existing architecture over destruction. Aside from a reality TV host, an interior designer, a realtor, and a self-confessed rehab addict, Nicole is also an entrepreneur. She owns a company that designs home essentials such as pillows, curtains, and other home accessories. Her company develops and sells 100% American products.

With the success of her show and a lot of things she does for a living, many real estate aficionados have become interested in Nicole Curtis’s net worth. How much money does she make? Nobody knows what her exact net worth is, but it is estimated to be around $5 million. It is not as profane as what other people make in the industry but is certainly more than enough. She is an independent woman and has become an inspiration to a lot of individuals, especially single parent. When it comes to her personal life, Curtis has managed to keep her personal life private.

Additional Links for Nicole Curtis

Nicole Curtis Official Facebook Page

Follow Nicole Curtis on Twitter

Nicole’s Website

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Scott Yancey’s Flipping Vegas Taught Me This

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Some people prefer watching sitcoms, courtroom dramas and other types of fiction on television, but reality TV is more my speed. While I like many different types, those that focus on homes are Scott Yancey on the set of Flipping Vegasmy absolute favorite. My first foray into the world of reality homes shows was House Hunters. Now you can catch me glued to the screen whenever Selling New York and Property Virgins is on.

One show that has to be my all-time favorite is Flipping Vegas. While this show has been on for several years, I just discovered it a few weeks ago. The show is about a guy name Scott Yancey who goes all over Las Vegas buying homes that are relatively cheap. He and his wife Amie, who is a designer, make these places look fantastic, then they sell them for profits.

When I first started watching the show, I figured it was perfect for entertainment value, but there are far more things that I get from each episode at this point. I’ve learned so much from the few episodes that I have watched, and I’m am dying to invest some money, buy some property and see if I can make a decent profit.

Things I have learned watching Scott Yancey

When you are fixing up a home, it is not necessary to buy a refrigerator for the property. On all of the episodes I have seen, the Scott and Aime Yancey bought stoves and dishwashers, but not refrigerators. This may not seem like a big deal to some, but it shows me one way I could save a little money if I start flipping houses.

  1. While you want to fix up a home significantly when you are trying to flip it, you should not spend so much on it that you end up chewing away all of your profits. As long as large things like plumbing and wiring work just fine, there is no need to invest money to have the entire system overhauled.
  2. I watched an episode called Reptile House, and I was surprised by how much Scott was complaining about the place. It almost seemed like there was so much wrong with the property that it would be best to turn and walk away from it. Apparently, any house can be saved. I figured something so terrible was a lost cause. I will have to keep this in mind as I move forward.
  3. This has absolutely nothing to do with flipping homes, but apparently a husband and wife team can work together to make money without killing one another. When watching a couple of the episodes, the Yancey’s had a rift, but they decided to squash it quickly for the sake of getting the home fixed and ready for sale. If I choose to do this, I want my husband to be a part of it. I am hoping that we can work together as well as they do.
  4. Scott Yancey runs seminars that teach regular people how to flip homes. This is great since I would love to learn firsthand how to do this. My husband and I head to Vegas at least once every couple of years, so this is something that we are interested in. This proves that reality TV is not all smoke and mirrors. Some people are actually who they appear to be on television.

The last time I watched the show it had me so intrigued that I went online and read a few reviews about the seminars. Apparently, most of the people who attended were very pleased with the information they learned. There were some who balked at the idea of paying extra to get all of the best information, but that is ridiculous. Why would anyone with information on how to make millions with real estate give it away for free?  Then everyone would have the information and there would be so much competition that it would be hard to take advantage of it.  It’s best to keep a treasure trove of information to a select few.

I always thought that people who flipped houses were real estate moguls and the like, but the Yancey’s have shown me something entirely different. While I don’t think that they are an average couple who has to struggle to make ends meet, I do not believe that they are working with an endless money supply either. It seems like they have taken a rather modest income and used it repeatedly to make a profit. All in all, they are doing something that seems entirely doable for me and most of the people that I know.

If you have never watched the show, you should give it a shot. As I said, it is becoming one of my favorites. Here are a few things that I like about the show:

– The prices they can pay for some of these properties are amazing. I honestly thought that you had to be filthy rich to do this, but it is clear that you do not. Honestly, you can take some of the money you have in savings and turn it into more money.

– Each of the homes that are shown seems to have some theme. There was one that was filled with cats, another that was occupied by a hoarder and this alien house that was totally awesome and was equipped with a huge, glass counter-top.

– I like the idea of being able to buy a home based on pictures. This may seem risky, but that is far better than wasting money traveling all over the place when you can make purchases from your backyard.

Scenes from Flipping Vegas Season 3

I Love House Flipping Shows

This is not the first show that I have watched that is devoted to the subject of flipping houses, but it is certainly the best. While all of the others seem so serious and boring and totally focused on the final side of things, this show can help you see things from a different perspective. For example, they show how Scott reacts when the places he buys are not as nice as he thought they were, and the problems are larger than expected.

I appreciate this because it shows that flipping homes is not all about glitz and glamour. There will be times when you place money into a deal and it may seem like things are not going to go your way, but there is a light at the end of the tunnel. I am sure that all deals don’t turn out positive, but I can say that seeing this kind of thing gives me hope.

When I went to check out the details about the seminars Scott is responsible for I found several reviews that were positive.   The methods that will be taught are those that he created, so it will be just as good as it would have been if he was present. I wish there were some way to determine whether or not he would be there at any given time, but I guess that is not a possibility. You cannot blame a girl for hoping.

I have tried many different investment opportunities over the years, but this one seems like something I can stick with. Seeing the Yancey’s on the show made me realize that this is possible for everyone, and I want to give it a try. While there are no 100% guarantees when it comes to any part if the real estate game, this show makes me feel like there is a good chance that I can make some money. I will not walk into any deals blind to the fact that I may see losses instead of gains. Instead, I will focus on a large number of houses out there that are being purchased for bargain basement prices and sold for a mint.

Flipping houses is a gamble, but it seems to be one where the odds are certainly in your favor. I guess all of this would depend on the place that you buy, the amount of work you do to fix it up and how appealing it is to the average buyer. If the home you buy is far too run down, you will not make a large profit at all. I am hoping that the places I buy do not have any of the major issues that I have seen Scott and Amie deal with on the show.

The idea of flipping houses is about more than making money once and walking away. The idea is to continue cycling these funds into new purchases and making more money. Again, this probably is risky, but it is something I am excited about giving a try. My husband is all about anything that will put extra money into our pockets, so I am positive that I will be able to help him get on board. We have an account that has inheritance money in it, and I think we should use it for this purpose. We do pretty okay, so I am sure that we will be able to stay afloat even if something goes wrong.

I am not sure when the next seminar is or where it will be held, but I am certainly ready to get started. I have some vacation time available at work, so I can certainly take some time off and learn more information about flipping houses. If my husband is not able to go, I will bring a friend or two along. I am sure that some of the people I know would love to get in on this as well.

When I started watching this show, who knew that I would learn so much that I would be interested in giving this a try. I have never been involved in any serious investments, and the thought of this is very exciting to me. I know that it may take some time for us to master this and be as lucrative as others who have been at it for a while, but I am sure that we will learn enough from the information at the seminars that we will do just fine.

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