There are three ways to price a property to flip. Any real estate property as a matter of fact. If you want to move the real estate quickly, have a fire sale. Price it so low that even a relatively disinterested buyer will take notice. You can also price it at the top of your list price range and hold out until someone finally makes an offer.

Or, yospeed is your friend flipping real estateu can sell the property somewhere in between, getting a fair market price and selling in an appropriate amount of time. But when you’re flipping a home or intend to sell a property sooner rather than later, remember that speed is your friend.

Before you make an offer on a potential project, carefully evaluate how long it will take to sell at your ideal price after speaking with your real estate agent. In a balanced market, where buyers and sellers are considered on equal footing, what does your agent say you’re likely to gain from the sale? If that’s acceptable to you, then that’s your target. However, if you finance the acquisition, the longer it takes to sell the home, the less you’ll bring home at the closing table.

When buying a distressed property and rehabilitating it, it’s likely you financed the transaction with private funds. Private lending is essential to any successful real estate investor yet remember that the interest costs for a private loan is much higher compared to conventional loans. The interest paid to the investors may be as high as 15 percent or more.

Monitor the project and have a firm idea on how long it will take to make the repairs. Your contractor will guide you through this phase but don’t leave the job entirely up to the contractor. Make regular visits to the job site and make sure the workers you’re paying are showing up like they’re supposed to. Days off or looking for more labor will eat at your bottom line. The quicker you turn your project, the faster you get your money in the bank and ready for the next deal.