Do you watch Tv shows like Flip or Flop, Property Brothers and Love it or List it? Obviously then you have a fair idea about what you will be reading in this article. Well for those who understand and also for the non viewers who are not aware, this article is about flipping homes and guidelines for flippers by Dc Fawcett, the owner of Paramount Digital Publishing, who instructs entrepreneurs in his educational institution and also on his blog in the internet on how to grow their business and also to generate different income streams. Dc Fawcett has years and years of experience in business and sales. After graduating from college he went to work for a company which sold websites. This job was not long lasting. He then went on to work for a concern which did dry cleaning business. But after working there for a year he wanted to be his own boss. So he started his own business . It was basically about investing in real estate. Then after doing this for many years he went on to find his own educational institution imparting knowledge on investing in real estate.
Dc Fawcett is a specialist in the craft of wholesaling, rehabbing and cash flow investing in virtual real estate areas that he does not inhabit. He analyses time and again about the various flipping techniques and offers guidelines to flippers. Amy Fontinelle had written an article about his analysis on flipping for the blog Investopedia in June 2010.
Dc Fawcett’s review on Flipping
What is flipping?
Flipping is a process of reselling homes with a profit target in mind. Flippers often buy Foreclosure homes for low rates in an auction and then end up reselling them at higher prices.
While just about any X or Y can buy and sell a property, there are risks associated with it as Dc Fawcett says. Flippers fix defects and some may even make changes in the basic organization of the home to better their chances of reselling it. But sometimes these defects involve huge amounts of money and take a very long time to mend complaints. Some defects may not be repairable. In this case the flipper faces a loss. So Dc Fawcett analyses that profit making in flipping is not ensured.
Ripe flipping areas in 2010 according to Dc Fawcett
Although the value of real estate has decreased rapidly in many metropolitan areas in the first quarter of 2010, there are 3 cities which are still very lucrative for flippers. The 3 cities are San Diego, San Fransisco and Los Angeles. San Diego offers a savings of upto 46% on foreclosure. Flippers should be wary of San Diego’s high unemployment rates and new single family homes which can lower prices sharply. In San Fransisco, foreclosure savings are around 29%. Like San Diego, San Fransisco also witnesses many new single family homes and unemployment rates which the flippers have to be careful about. Los Angeles is exhibiting a foreclosure rate of about 0.38%. High unemployment rates and new single family homes are factors to look out for in Los Angeles as well.
Dc Fawcett Cautions
Dc Fawcett analyses that flippers must face heavy competition from investors who are looking for rental properties and also from owners who are ready to buy inexpensive foreclosure homes just to win auctions or to save money.
Dc Fawcett is one of those experts who runs a website which generates profits and earns luxuries in the long run. This website can be called as a virtual real estate – Dc Fawcett virtual real estate investing club. Although there are some complaints (probably by those who have a personal grievance against him or something) on Dc Fawcett, he continues to be an expert virtual real estate investor.