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The educational infographic comes as a result of years of house flipping experience and in response to multiple media requests, house flip coaching student requests and general education for the public on the fast growing field of flipping houses for profit.
“House flipping has become a subject of enormous interest in the United States”, said LaCava, “and with mortgage rates still extremely low, a plentiful supply of potential house flips on the market, now is certainly a great time to be in the house flipping business. I’ve seen this frenzy firsthand in meetings I attend and the daily feedback I get from visitors on my website.”
“With multiple reality television shows like Flip This House”, the Massachusetts house flipping coach and real estate investor went on to say, “not to mention all the regional ones – it seems everyone has flipped for house flipping. Unfortunately, it seems like there are so many people hyping the house flipping thing as an easy path to make money. But in my opinion, it's gotten a bit out of control.”
House Flipping Expert Warns of Too Much Hype on Flipping Houses
LaCava cautions, “The problem is that with so much media coverage and hype, people may think that house flipping is easy. The reality is that house flipping has never been and will never be as easy as some of the “gurus” would have you think. The truth remains that house flipping takes hard work, education and experience to do successfully.”
Although LaCava did not say the exact figure of how many people are now flipping houses for profit, there is tremendous interest in the practice; be it part time or full time. But as someone who has been flipping houses full time for nearly five years, he is concerned that too many people are getting into the flipping houses business with unrealistic expectations.
“To help combat the misconceptions about house flipping, as well as to educate people new to the industry on the basic steps in how to flip a houses, I started House Flipping School to educate consumers on what it takes to flip a house successfully. Our goal is to give visitors a realistic view on how to flip houses successfully.”
LaCava continued, “In the vein, we designed the infographic to help people learn the basics of house flipping in an easy to understand visual format. My aim in creating this infographic is to get people started flipping houses firmly grounded with a set of specific rules to follow, as well as realistic expectations for success.”
Although there are many complex aspects to flipping houses, there are certain key steps to success over time. LaCava explained, “Although there’s no real way to explain ALL the little details of how to flip a house in a single infographic, my hope is that this will help both the new and veteran house flipper to be successful flipping houses. I also want to help new house flippers to continue to play their part helping families and individuals find good, clean and affordable housing, while continuing to advance the real estate recovery we are already starting to see signs of appearing.”
House Flipping Can Be Lucrative If You Know What You’re Doing
When most people think of house flipping, they think of two things: buying and then selling. As oversimplified as that might be, buying and selling are two of the many steps needed to be successful. LaCava advises, “If you can find a property at a low price, fix it up and then sell it for a higher price than what you have spent on it, then you have completed a successful house flip. Although those steps are the basic ones, in essence that’s what house flipping is all about.”
According to LaCava, “It doesn’t matter whether you’re a novice, or a real estate investor with 20 years of experience, house flipping is a process that’s extremely appealing to many people who are looking for a good return on their money. As a real estate investor who specializes in flipping houses, my main goal is to find a house at an extremely affordable price through foreclosure, short sale or bank owned that’s in need of significant repairs.” LaCava continued, “I then buy it using other people’s money, fix it up and sell it for a profit. Not every deal is a home run, but the way I do it, I stick to a disciplined set of rules that all but guarantees a healthy profit on each deal.”
To graphically illustrate the steps needed to flip houses, LaCava designed the house flipping infographic to simplify what is in practice a complicated process.
About House Flipping School and Mike LaCava
Mike LaCava is the President of Hold Em Realty and House Flipping School, both located in Southeastern Massachusetts. Mike is a full time real estate investor and a house flipping coach. Mike specializes in flipping and holding houses for long term wealth creation and created the website House Flipping School to teach new real estate investors how to do the same. He has also authored the book “How to Flip a House In 5 Simple Steps” available for Free at his website. To learn more about Mike LaCava, call 508-273-0277 or visit: