How to Flip Houses or the procedure of flipping houses in Canada Step by Step:
So you are interested in learning the procedure of flipping houses in Canada to make money.
The business of flipping houses in Canada is very profitable and so is investments. Just like any other business, you must go and learn from Flipping4Profit.ca. You are also required to be a member of Professional real estate investors group (PREIG) Canada in order to enhance your learning and get the chance to meet professional real estate investors.
The following steps explain the procedure of flipping houses in Canada:
1. Get the training needed: For real estate investment, you would need to make a significantly large investment. Every business has its own secrets, strategies and tactics. Learn the ropes from fellow Canadian real estate investment experts.
2. Get to learn by attending the eye witness boots on the ground LIVE field training: Avoid those dishonest salesmen who ask you to purchase a $50,000 seminar but do not have anything to show you in the backyard. Go and visually observe the real deals, also known as training or boots on the ground.
3. Attend Canadian real estate investors strategic apprenticeship (CREISA): this apprenticeship is designed to provide you maximum benefits “How to do it” strategies. You would benefit a lot by learning how to buy real estate on big discounts and receiving other Canadian real estate grants that are forgivable. It is a special, distinct kind of apprenticeship aimed towards your success.
4. The top 50 steps of Due Diligence: You are required to carry out your own due diligence which is based on reality instead of belief.
5. Begin possessing Canadian real estate deals from 40 – 85% Discount: You would not be able to find such deals on multiple listing services (MLS). Please do not make efforts to rob a Canadian fellow homeowner who is having cancer or try to benefit from their situations.
6. Assign the offer (Quick flip): Make sure that you have assignment clause which allows you to assign the contract before closing. The most helpful aspect of this clause is that you won’t be liable in case the deal gets compromised.
7. Close the deal with the Joint Venture partners: It would be fine to begin investing in Canadian real estate with introductory steps and getting joint venture partners to offer you money and experience.
8. Renovate the house with proper building permit: Most of the Canadian real estate investors do not acquire building permit and insurance. Make sure that all your contracts are reviewed by your lawyer and there is a time line to finish in time.
9. Remember to always decorate the property: Would you ever want to go to your own wedding in top tank or jeans. The house needs to be decorated properly in order for it to get a high price. If something looks appealing, it would have a great worth and would bring a lot of profit.
10. Flip the house to end buyer: Be aware of capital gains as well as all expenses. Consult Canada Revenue Agency (CRA) and your accountant for advice.
Learn from Canadian real estate investment experts with an established record.