Center Street Lending shares a presentation discussing tips on how to stay ahead of changes in the real estate industry.

2. The real estate business is always
changing. Center Street Lending can
help you stay ahead.

3. According to RealtyTrac, the average
gross profit on a flipped home in the
second quarter reached $62,000, a
10-year high after the flipping
business has been retooling for the
past two years.

4. The house flipping industry has
undergone dramatic changes, but it
has grown even more profitable
during that time.

5. Learn to become a successful flipper
by analyzing recent changes that
have occurred over the past ten years
and what lessons you can apply to
your skills. Read this original article
at CenterStreetLending.com and
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6. The House
Search

7. Finding houses has grown
increasingly difficult. Becoming
licensed helps with researching
available homes because you will be
aboe to access to the multi-listing
service (MLS) in your community. A
real estate agent also will be able to
tell you if these properties are
owner-occupied sales or estate sales

8. While you still can find foreclosures
and bank-owned properties, these
are getting harder to come by and
banks are seeking closer to market
prices.Sometimes families are
willing to accept less for a property if
they get a quick cash payment, rather
than waiting for a long escrow
period.

9. You can sometimes find properties
for sale by owner when can often be
acquired more cheaply if the owner
wants a quick sale.

10. Cash in hand also will be important
to finding houses. The percentage of
buyers paying with their own cash as
flippers has climbed to nearly 70
percent this year, nearly double what
it was 10 years ago.

11. But they also reported a growing
interest in private lenders who
quickly approve loans, which allows
new flippers to enter the market at a
competitive level.

12. Whichever route you take, you can
expect to pay more than you did for
houses during the housing crisis, but
the good news is you can expect to
sell the house for more, too.

13. Renovation Time

14. What also has changed since the
housing crisis is the type of house you
can buy for a good price. When the
foreclosure market was at its peak,
you could get houses that were
generally in good shape, that needed
only cosmetic changes before they
could be flipped.

15. Now, the houses you likely able to
acquire at discounted prices are
those that are out of date and need
some modernization to appeal to
current buyers.

16. You’ll need to look at opening up the
floor plan, adding more expensive
amenities, particularly wood or
laminate floors and kitchen upgrades
such as marble or granite
countertops and stainless steel
appliances, and a master suite with
bathroom.

17. All of this will require more money
and more time, but the payoff in the
end is greater as the housing market
continues to heat up.

18. Sell

19. The most critical aspect of a
successful flip is selling at your target
price. A tightened housing market
helps when you sell your newly
renovated home. While interest rates
remain low, more home buyers are
getting into the market, leading to
those greater profits.

20. Do your research, and find a home in
a desirable neighborhood, and make
sure you have the cash for the
renovations necessary to make it sell.

21. Do your research, and find a home in
a desirable neighborhood, and make
sure you have the cash for the
renovations necessary to make it sell.