Buy & Resale Strategy

It is important to first define, what is Flipping? There are so many theories and false statements concerning flipping, that it terrifies some people into making money in the Real Estate business. Is it legal or not? Let’s first examine what illegal flipping involves.

The top 5 Illegal Flipping activities:

1. Paying appraisers to raise the property value to get larger loans for themselves or their buyers. This doesn’t happen much anymore since appraisers are being held personally liable since the fall of the Real Estate Industry.
2. Falsifying down payments to put unqualified buyers into houses that they normally wouldn’t be approved for.
3. Falsifying financial documents required to get a buyer approved such as pay stubs, verification of equipment, tax returns, verification of deposit, etc.
4. Selling houses to uninformed buyers and covering up major problems while rehabbing the home just to get the loan closed. This is one of the most abused types of fraud because it’s very hard to uncover prior o purchasing.
5. Back dating lease agreements to deceive the lender in believing that a tenant has occupied the unit for more than a year and has paid on time, when in reality the tenant just moved in. The lenders now want to see tax returns showing the income.

Now back to flipping and actually capitalizing on this excellent way of investing. The philosophy is very simple. As Licensed Realtors, WE find the property for you. YOU purchase property cash or financed, As Licensed Contractors, We rehab the property for you. As Licensed Realtors, WE market and sale the home for you. YOU MAKE MONEY & PROFIT FROM THE INVESTMENT!!!

Typically, in today’s market, depending on the season, flipping a property could take 3-6 months from acquisition to re-sale. The market today is certainly different due to the collapse of the mortgage industry as well as the state of our economy. However, the federal government has excellent programs (FHA Loans) for new home buyers that only require 3.5% down payment along with other minimum income requirements. As a result, the flipping business will always survive. First time buyers are usually not interested in rehabbing homes. They would prefer homes that are completely rehabbed and in great neighborhoods, which are recipes for what we offer.

So how exactly do your Flipping Program work?

We Find the property:

As an Illinois Licensed Real Estate Broker (Realtor) we are able to search every property available in Illinois that’s for sale and on the market. Unlike most Realtors we don’t bombard you with 100’s of emails consisting of every property for sale on market. What’s different about our approach is that we will go out ourselves to view the property and only if the property meets your investment criteria we will present the property to you. Besides, if you are inexperienced and looking at property listings sent by emails provided by your Realtor, you could find yourself making an emotional decision which could lead to your demise as a real estate investor.

We also want you to keep in mind that we are not only a Real Estate Broker, but we are Real Estate Investors and Licensed General Contractors which virtually eliminates typical errors that most Realtors make when presenting Investment properties to potential investors.

We Analyze the property:

As 25yr. Real Estate Investors, we know exactly how to evaluate Investment property. We look at the area, we calculate the rehab cost, we provide the ARV (after repair value) amongst other financial ratios and calculations necessary when making an educated decision on if you should buy it.

We Submit the offers

We present legitimate offers giving you the best chance to obtain an accepted offer. We are experience negotiators ensuring that you will get the best deal while maintaining your investment objective

You Buy the property

As Realtors, we represent you as the buyer’s agent for no cost to you. It is our responsibility to facilitate the deal and act as a liaison between you, your lawyer, your insurance agent and/or in some cases your lender. We make sure that the transition is smooth and will walk with you in every phase.

We Rehab the property

As award winning General Contractors we specialize in rehabbing rental properties and re-sale properties. We are licensed, bonded and insured contractors. We have a local office giving us the public credibility you want in Contractor. We make sure all the proper permits are pulled regardless of the municipality to avoid any job stop orders.

We provide a detailed scope of work of our projects detailing exactly what we will do and when the job will be completed.
Once we know your investment philosophy we rehab the properties accordingly. Regardless of your philosophy our craftsmanship and quality remains the same. We know the importance of meeting deadlines and making sure we cut down your holding time (elapsed time without making money).

The beauty of having us as your General Contractor is that it’s all in house. All three major phases of your investment are working together for the same cause.

We Sale the property

Believe it or not there is an art to selling rehabbed properties. We are fully aware of properly evaluating properties current value, exactly the same way an appraiser would do.

Consumers don’t buy properties just because they were rehabbed. Final presentation matters. We make sure the properties are in pristine condition as we hire professional photographers and videographers. Our contracting firm always get amazing reviews on the super detail work and craftsmanship which directly reflects your resale power. We use a wide variety of techniques to sale your property in the fastest time possible.

We are master negotiators. We make sure your best interest is protected in maximizing the offers received. There is constant communication between are firm and you. We advise as necessary to make sure we never lose the deal.

Finally, every buyer hires a property inspector to make sure we completed the property to code and to make sure their client is not buying a lemon. We have this covered as well. We hire our own home inspectors in the beginning and at the end of the rehab to make sure we eliminate deal breakers.

As stated before, it’s a win-win for everyone involved. Join our program and pick the phone up right now and schedule a consultation directly with Eric Fullilove at (866) 896 3752.