Pros and Cons of Flipping Houses

 

If you have watched countless shows on television about flipping houses and making tons of money in a very short amount of time you've probably thought to yourself that you could do that and possibly wondered why you haven't. If you are considering entering into the world of real estate investing through the role of one who flips houses there are a few pros and cons that you might want to carefully consider before taking the plunge.

Pros

Potential profits that are large and relatively quick. Those who flip properties as a sole source of income can make in a few months what the average worker in this country makes in an entire year. The potential profits are great in this line of work for the successful house flipping team.

Being your own boss. This is within certain limits of course are some areas have strict zoning ordinances and code requirements that must be respected and adhered to when working on a house. Even so you maintain a large degree of control over all the decisions having to do with the flip.

Getting to work with power tools. There is that little kid in most of us that really loves the idea of playing with power tools. In fact, that is the deciding factor for many who have gone into this particular field of real estate investing in the past.

It's hands on. There are all kinds of different investments that you can put your money into but very few allow you to pour your heart, soul, blood, sweat, and tears into them the way that flipping a house does.

Cons

Risk. Real estate is a risky business in its own right. When you add the skills that are needed in order to flip a house, the wide variety of things that may go wrong during a flip, and the volatility of the market in general there is so much that can go wrong when it comes to flipping a house. You must be prepared to walk away with less than nothing in order to make the high dollar profits that a successful flip can bring to the table.

No easy out. If you invest in stocks that go bad it is possible to pull your money out of that stock and go somewhere else. It is a little more difficult to do this when it comes to a house flip. You need to be prepared to see it through to the finish if you begin flipping a house.

Expenses. It's expensive to flip a house. You will need to come up with no small investment of your own in order to do this. It will take careful planning and diligent adherence to those plans in order to successfully flip a house but the rewards for your significant financial investment are most often well worth the effort.

Physical labor. For many first time house flippers who are accustomed to office jobs the aches and pains and inexperience of muscles and hands to certain jobs prove painful both physically and financially. Not everyone is as skilled as the next guy when it comes to physical labor, carpentry, painting, installing floors, hanging cabinetry, and countless other skills you will be called upon to perform while in the process of flipping a house. You will occasionally need the help of skilled professionals and on occasion need large doses of your favorite muscle ache ointment.

Despite all the pros and cons many people around the world embark on their first house flipping adventure each and every day. The allure of quick rewards often outweigh the need for cautious prudence. But for many of these people their efforts will pay off. Are you ready to take the plunge or have you decided that a safer difference between you and the power tools just might be the best bet? If you decide to go the distance and flip your first house I wish you the best of luck.

This article brought to you by the eBiz Solutions Team at BLM Traders.

For additional information regarding Real Estate investing in the 21st Century.

The most powerful link on the internet!

A New Day For Website Promotion

There is always the question...What is the hottest link on the Internet?  There was, for a time, reason to believe that this BLM Traders site was one of, if not the, hottest around.  The hottest link on the Internet isn't hard to identify, usually they are at the top of the heap on the search engines...  The real question should be, what WILL BECOME the hottest link on the Internet?  Of course, there will be arguement, but here's my guess... It Works.

 

Of course only time will tell... but if you are looking for a way to put your website in the main stream of Internet searches, then I suggest that you will want to check it out.  The shear numbers of links that the It Works System can point to your site is incredible, and the speed with which it can be made to happen is simply unbelieveable. 

 

Take a flier and get your site in position to rein on the internet with It Works.

 

A timely message ... brought to you by

 

The EBiz Solutions Team

BLM Traders

BLM Traders

Every morning in Africa a Gazelle wakes up. It knows that it must run faster than the fastest lion or it will be killed.

Every morning a lion wakes up and it knows that it must run faster than the slowest Gazelle or it will starve to death.

It doesn't matter whether you are a Gazelle or a Lion, when the sun comes up where you live in the morning you better be running. That, in my opinion, pretty much describes the current business environment.


Bill Reid Specializes in Virtual Business Development and Training

The Simplest Form Of Commerce

When is the last time you just picked up the phone and called someone you know and told them about a product or service you are aware of, and offered to send them some information via an email?

Isn't that something that a lot of us do on a regular basis without even thinking about it? When we are lucky enough to find something that works well for us, we generally want to pass on that information to others we think might need the benefits we received.

This process is what we commonly refer to as "networking". Now if you can find a way to get paid for "networking", other than the fact that you will feel good for having helped a friend with something that they might find valuable in their life too, what's wrong with that? How about NOTHING!

Commerce is what makes the economic world go around. How you fare in life can be directly related to the effort you put into being a part of commerce.

You are invited to come take a look at a very simple way to help others and earn money at the same time. You will be surprised at the companies that are taking advantage of this technique, and the vast numbers of ordinary everyday people who participate. The only difference between you and them, once you understand the principle and how to employ it, is that you will be earning money and they won't.

Bill Reid Specializes in Virtual Business Development and Training

Are You Thinking About A Home Business?

Are You Wondering?
Why Start a Home Business

As I go about discussing the virtues of having one’s own business as opposed to working for someone else, I am often confronted by the unspoken question that lurks in almost everyone’s mind, and that is, “Why should I start a home business?” I should be quick to add that, at least in my opinion, a home business is not for everyone. Some just are not suited to the task. There are certain personality traits and human characteristics that do not lend themselves to support the discipline that is required of a home business operator. But, with that said, I find that, in general, there are a number of ways that a home business can be “customized” to the operator in such a way as to optimize their chance of success. Identifying limitations and strong points are the key, but that’s a topic best reserved for a later article.

Rent or Buy

I believe the best way to answer the question of why anyone who is qualified should start a home business, is a simple analogy to either buying or renting a home in which to live. If you think of a “job” as “renting an income”, the same way you rent an apartment or house on a temporary basis, compared to “buying” a house or condominium, where you actually assume “ownership”, and begin to accumulate an equity in the property, then a “job” seems to be a more tenuous occupation opposed to developing your “own” income source that you control.

It’s about Control

A job is only as secure as the company that provides the work that constitutes the position that you occupy with them. If something happens to that company, whether it’s an internal matter or external forces that affect it, you will be affected as well. As we look around today we see company after company in a broad range of industries that are suffering due to the forces of the economy. High fuel prices are just one of the factors that cause major changes in some companies, like those in the transportation industry. The airlines, for instance, are struggling. They have to raise fares in order to offset the increased cost of fuel, and that affects the numbers of people who fly. The eventual outcome of the situation is that the employees are affected through no fault of their own, and some will loose their jobs as a result. Either way, internal or external, the result is the same. No job, and no income.

Taking Charge

For those who are suited for, and have the ability, operating their own small home business offers another possible outcome when an economic disaster is looming on the horizon. They simply make the necessary adjustments, if needed, and continue to develop their businesses and along with them, the income that is needed to maintain their standards. By becoming your own employer you shortcut the process, and at the same time, take the limits off your creativity because everything that you do to “enhance” your own business will be a new investment that will add value for you.

So How Do You Find a Good Home Business

I think it comes back to the last part of the first paragraph of this article. Start by identifying strengths and weaknesses, and then, the most important part, find a way to apply the strengths, and mediate the effects of the weaknesses. In my opinion, the best course of action is to sit down with someone who can present first hand knowledge of the information you need to make a solid decision, take what is offered, use what you deem to be appropriate to your personal circumstance, then get into action with the plan you choose to use immediately. Once a suitable match becomes obvious you will know it, and action will happen. Inspiration will be automatic if you truly believe that you are involved with the right product or service.

The Time For Home Based Businesses Is Now

There is A New Paradigm for America and the World

Two generations ago Americans' financial security was rooted largely in an agricultural economy. Then there was The Great Depression, another World War and a more modern America emerged as a world leader in the age of "mechanization", followed closely by yet more regional conflicts, and the emergence of the "technology" era of space travel, the Internet, the personalization of computers, cellular communications and more of everything than the rest of the world could possibly imagine. The Americanization of the world had begun.

Our Influence is Everywhere

American influence pervades just about every corner of the globe. As a people we had grown so fast and gone so far that no other country on the face of the earth could compete, but in the process we became the world's most ravenous consumer of everything as well. Living standards were elevated at a break neck pace as the "Baby Boom" generation of the World War II generation came of age, and finally, this same generation, that has been the benefactor of the American economy for so long, has become the weight that it toils to carry. And now many of the rest of the world's economies, racing to compete, are beginning to become massive consumers of the staples that Americans need to maintain their standards. We are beginning to be forced to compete in the world market place, not just for the luxurious "extras" that money will buy, but for the fundamental "fuels" that keep our mechanized and digitized society running, and all the other necessities of life as well.

We are a world of consumers

As America, and Americans have spread the dream of a better system and a better life throughout the far reaches of the world, several of the highly populated nations, China and India, just to name two, are racing to "catch up" with the apparent abundance that Americans enjoy. Demand for food, water, materials for shelter, oil and other forms of energy, and, generally speaking, most all commodities is on the rise, driving prices for these essentials higher, precisely at the time when aging Americans are least able to pay for them. Just about everywhere one looks...prices, taxes, fees...more is being demanded and financial security is becoming more tenuous, and those who have not come to this point in life, heretofore called retirement, totally prepared are feeling the pinch and the "social safety nets" don't appear to be strong enough to catch the overflow. The American Social Security and Medicare crisis being one of the most discussed of these.

The strain of the numbers

With social systems, pensions, healthcare systems, and just about every other institution in America, and for that matter, the World at large, feeling the strains of higher standards, and with the "globalization" phenomenon creating the worldwide export of American manufacturing jobs as well as other deteriorations of earning abilities, more Americans in all age groups are looking for ways to fill the "gap" between their existing financial means and that which is required to maintain, or rise to, an acceptable standard of living. Americans don't seem to be willing to accept less in their "golden years" than they have been able to enjoy during the higher productivity years of their youth. Apparently they want to continue with the same high standards even though they are no longer able to produce the levels of income necessary to maintain those standards, and unfortunately, the maturation of many of the major pension systems, and some world financial reverses, have caused reductions in accrual, and even pension payouts, that were unexpected.

A New Paradigm and A Final Career
The time has arrived when the "old tried and true" conventions of the past can no longer be applied. A change is in progress. A massive change. A new paradigm for the middle class of the world, not just America. A new way of thinking. Instead of retirement, many are moving from what was to be their "final career" to their "next career". Instead of earning a living with "brawn power", it will have to be done with "brain power", and instead of "burning gas" we will be "burning bits". In other words, taking advantage of technology to compete with the big boys. For those who are already immersed in retirement, or those who are very near that stage of their life, time is the most important factor. The potential for accrual and compounding, as it is normally defined, is diminished greatly, even though Americans are living longer than ever before. The big question then becomes, how do we accelerate the process in order to benefit from our efforts for the balance of our lives? The answer lies in one's ability to understand and employ a process of replication and duplication of their production, and in the United States it can be done with many different "micro-scale" variations of the methods that the great industrialists have known of, and used, for most of the history of the world.

A Home Operated Internet Business

Why a "home operated business"? Very simple. Because the tax laws of the United States were written to help those who are willing to accept the risk of running their own business, to succeed. That is exactly why I urge you to take a brief moment to visit the Small Office Home Office Website where you can find information that could help you to broaden your understanding of the overall problem and perhaps help you to find ways to hedge your financial position at the same time. The only way I can see to put a "stop loss" in place for your retirement years is to be in some kind of home based business for yourself. With proper mentoring, it's not really that difficult, and there are lots of options. You can start a simple home business that could help you live the rest of your life to it's fullest. You have a computer. You are here. Never before has it been so simple!

A Vast Store House of Free Information is Available to You

How fast would our civilization progress if every doctor, mechanic, accountant, or any other trained individual was forced to start learning their skills or the arts of their practice without the benefits of studying the trials and errors of those who had gone before them? My guess is that you could probably measure progress with a 12" ruler, and there would be no such thing as schools, libraries or any other institution that is used to store and pass on knowledge. But that doesn't have to happen to you. Now it's relatively easy to start a reputable home-based business and then, through the Internet, put an automated system to work, doing the heavy lifting for you! Take advantage of what is already known and is there for the taking. Amazingly, there are vast resources available to help you, and many of them are free, and include free training as well. It's possible to succeed by spending just 7 to 10 hours a week and earn a lifetime walk-away residual income. And what if you already have a business up and running? Well, if you need customers for your business you can still use these free resources which include an automatic lead generation system. I will say it again! You shouldn't waste another minute. The link above will provide a vast amount of information. Then all you need to do is take that first very important step, complete the form and submit for more specific information. Why wait until you are forced to seek out extra income to offset the rising cost of living against your fixed income? Do it now and get ahead of the curve. You will be glad you did.

What Makes Network Marketing Work?

Many times I am asked, and in some cases confronted, about network marketing with many different negative connotations. There are some who think that anything to do with marketing in general must be some sort of hocus pocus that "scams" people into doing something that they don't really want to do.

And then there is the attachment to "selling" that comes with the word "marketing". It reminds me of the story that Zig Zigler tells about Willy Lohman, and I hope I have it spelled correctly, the salesman in the play "Death of a Salesman". Of course Willy is depicted as a failure in the play, and even his name, Willy Lohman, seems to denigrate his character even further. Pronounced Low-man, it would indicate that his station in life was less than desirable, and it's all due to his occupation. A sad story to be sure.

But that was then, and this is now. I believe that the "sales profession", and it is a profession in every sense of the word because it is really the art of developing a favorable relationship with the customer or prospective buyer to enhance the possibility of gaining their business, and this is a learned skill that does not always come naturally. To some it might, but those are a very fortunate few. For most a considerable amount of time and effort must go into learning what, how, when, where and why to employ their profession. Most of the time the necessary skills are learned "on the job",so to speak, and because this is generally the case, the only way to overcome any deficiencies that might exist in the salesperson's techniques, is to increase the numbers of approches, or attempts, that he or she makes. The theory is that the more times you try, and fail, the more you learn from your mistakes, and with adjustments, the sooner you weed out the techniques that don't work, and begin applying only the techniques that do work. Great theory, but fatally flawed from the very beginning because the human psyche will not withstand the battering that the perceived rejection delivers, and so, the newcomer will fall by the wayside long before any real chance for success has had time to play out unless they are just really lucky.

So how do we avoid this high attrition rate among those we are recruiting for our network marketing organization? There are three things that are paramount in my opinion.

First, you have to be honest with the person you are inviting to your business and understand that not everyone is a fit for what you do. Be fair and don't be painting pictures of instant success and wildly exaggerated expectations of earnings.

Second, you need to help the new recruit develop an attitude toward themselves that will enhance their chances of success. Help them to develop the attitude that they are "problem solvers" who may happen to have a solution for some problems, but that there aren't too many products or services that will be needed by everyone. You might think that they need it, but do they? Even if they do, if they don't percieve the need, then it might just as well not even exist.

Finally, you need to help them develop faith and hope. Part of any success is in the "believing" that it can really become a reality. How will they survive approaching the large numbers of people who will have to be invited to their business if they are to succeed? I think it's by understanding that most of the people who join them will NOT be as excited about the business as they are. In fact, the tendency of most new recruits is to sort of sit back and watch their sponsor to see how the "plan" is working for them. If they get a sense that their sponsor is growing their business and earning money, then they will likely get more involved, but if you, as the sponsor, are spending all your time trying to get them to "do something" that you have told them they need to do before success will come, then they dont' have a model to guide them. People will follow a leader, and a leader is someone who is out front, doing the things that they are teaching. Ask yourself, are you a leader? What do you want your organization to look like? Have you ever heard the expression "birds of a feather flock together"? Then when you attract someone to you who wants to be a part of what you are doing, allow them to "become" an associate, an equal, and give them all the help you can without expecting them to do anything in return. For me that means not only making sure that the businesses I associate with are reputable, but that when someone chooses to join my organization they are shown where to get and how to use the tools to promote their new homebased business. There is a wealth of information out there, and much of it is free to use. You just need to know where to get it. One of my favorite places to get the basics and some good "first step" training by the experts is at SOHOMATIC (The Small Office Home Office Website). One could spend the better part of a half day purusing the materials and presentations there, and it's all straight forward, down to earth information.

I have a mentor who is fond of saying "people won't care how much you know until they know how much you care". Isn't that the truth? I believe it is. So just walk the walk and let them have a chance to see you moving forward. If they like what they see you will not only get an associate, you will get a little bonus along with it... A leader in your organization who will most likely emulate what they have seen you do.