If you need extra cash ASP, one of the best ways to do it is via flipping houses.  There are seven simple steps that you need to follow through before you begin, and here, we’ll talk about it.

First and foremost, know what you’re about to get into. it’s fun but risky. Watch videos, but also look at books on flipping and articles, and talk to other investors about this. 

Next, figure out the funding. You might need a partner or some hard money lenders, or maybe you need a combo of different strategies to finance. Look into how you finance before you strike any deals to save your bacon.

Next, find the leads.  You want to figure out the best ones that are a bit rare.  You can also get creative to find these or even just find run-down houses.

Next, look at the deal. Will this make you money? You need to analyze the prospect that you’re looking at to determine the ROI that you’re getting out of it. Look at the profit that you want to make, to figure out the maximum allowable offer, or the amount that you’re affording to pay for the deal and get the profit that you desire from this.

Next, make the offer, but keep the max amount that you want in mind.  You may get shot down, but once you work through the numbers, you’ll then have yourself a flip. This does take a while and involves a numbers game, so keep that in mind.

Next, close on the property. This can involve multiple steps, where you may need an attorney, where you may want to look at some markets and come into the closing prepared.

Next, manage the flip. don’t underestimate the hold that you need for contractors to get this done as efficiently and as quickly as possible. Remember as well that you don’t want to overspend on items that won’t help with the value.  You may think the quartz countertop is a good idea, but will it work with the market that you’re selling on, and will the selling price account for the investment? You need to ask yourself that before you begin.

Finally, sell the flip. But the thing is, it’s more than just throwing it on the market and then bam, selling this. There are actually ways to sell for more money, and you can offload this as quickly as possible with the right techniques. This can take a while, or it could leave the market immediately. If you’re ready to really make a dent in your ability to market an item, sell this, and see what will happen to the property next. It will definitely help, and the difference that this makes will be night and day.

Learning how to better sell and flip properties is important for investors, and while it is a quick way to make cash, do know what you’re doing before you start.