Property flipping happens when you purchase a property and sell it for a profit. Many have “flipped” a bit of real estate in their lives, but not as a regular source of earnings. Almost anyone can earn money in real estate flipping. There is a bit more to Flip For Profits than just purchasing a property and re-listing it, however.

The basics of flipping include purchasing, fixing ( sometimes ), and naturally, selling. As discussed before though, each of those steps involves quite a few more sub-steps to complete.

You are also searching for a property that will need some work, but not always a large amount, that is cheaply priced. When purchasing the property consider the values in the surrounding areas. You also have to get an understanding of the market because timing is a large part in this process. You often need to flip homes quickly, so purchasing property in an area where properties sit for long periods of time before selling isn’t advisable either.

What to do when the property wishes work? It is generally best to keep upgrades or improvements low.

Flip the property to a contractor for a smaller profit, then move on to your next flip. Having a strong selling and selling effort is the only way to promise a quick sale.

Use whatever resources you can ; newspapers, personal recommendation, local TV and one of the strongest selling mechanisms ever invented – the internet, are some of the best ways to market your property. In the final analysis, your job as a flipper is to get in and get out as quickly as possible. Following the tips revealed above will help you do just that.

Contact:  Carmen Laborin, Marketing Director

OF. MX. +52 (999) 920.2600

OF. US.  (310) 691.2398

carmen@flamingolakes.com

NEW LUXURY RESORT ATTRACTS CANADIANS TO YUCATAN PENINSULA

Homebuyers Invited to Meet Flamingo Lakes Representatives at The Ultimate Travel Show and Connections in Real Estate Consumer Show in Southern Ontario

MERIDA, MEXICO – As more Canadian homebuyers look abroad for their next real estate purchase, many are discovering lucrative opportunities in Mexico.  Named one of Fortune Magazine’s “Top 5” picks for real estate investment, Mexico’s Yucatan Peninsula is a current hot spot for resort development and home to Flamingo Lakes, a new luxury resort community near the Yucatan capital, Merida.  To introduce Southern Ontario homebuyers to the region, Flamingo Lakes will participate in the upcoming Connections, International Developers Expo presented in conjunction with the Toronto´s Ultimate Trade Show.  Held from Friday March 27 to Sunday the 29th, 2009, International Developers Expo will be presented at the Metro Toronto Convention Centre, booth 826.

World-class developers representing North American, Central American, South American and Caribbean resort destinations will be in attendance at this consumer show and seminar, as well as real estate experts who will host educational seminars for prospective homebuyers.  Subject matter, including financing options, property management, cross border tax, insurance, title and ownership, and other issues related to foreign real estate will be discussed.

“Merida’s beauty and low cost of living have attracted many people from around the world to this charming city, and Flamingo Lakes will certainly add value to this wonderful community,” said Laborin. “Now is the best time to discover Yucatan’s hidden gem and be a part of this growing community.”

Flamingo Lakes is a gated collection of detached luxury homes and condominiums within an exclusive resort setting.  With homes starting at $272,800 USD, on a 6,450 sqf lot, Flamingo Lakes’ one- and two-story villas will include up to five bedrooms, covered terraces and a swimming pool  for each home, while golf-view condominiums will feature up to three bedrooms and start at only $113,000 USD.  Featuring an 840-acre  Conservation Area, two golf courses, a tennis academy, an equestrian center, beach club, marina and spa, Flamingo Lakes will provide a variety of services to residents, including key holding, property maintenance, pool management, gardening, property rental and a comprehensive security service.

Flamingo Lakes is supported by the Mexican government, while title will be guaranteed by First American, a leading US title company.   Brokers who refer buyers to Flamingo Lakes will receive 4-6 percent commission to referrals resulting in a purchase.  In addition, Flamingo Lakes is hosting a “Fly and Buy” discovery package, in which investors and customers are invited to spend two nights & three days in Merida where we would take care of accommodations, transfers, some meals, and arrange a guided tour to Chichen Itza,  one of the newly designated 7 wonders of the modern world.  If a customer decides to buy or invest within five days of leaving Flamingo Lakes, then up to $1,500 USD in flight expenses will be reimbursed from the purchase price. 

“The best way to learn about the Yucatan is to experience it firsthand and our ‘Fly and Buy’ trips are a wonderful opportunity to learn about Merida and Flamingo Lakes,” said Carmen Laborin, Marketing Director of Flamingo Lakes. “Our onsite amenities perfectly complement Merida’s enchanting culture and add luxury to the Flamingo Lakes experience.”

With old world landmarks including Mayan ruins, haciendas and cathedrals, as well as modern conveniences like theaters, universities and shopping malls, Merida is a unique blend of colonial city and cosmopolitan destination.  Residents can stock up on supplies at the local Costco and Wal-Mart, enjoy a relaxing dinner at one of many charming restaurants or take in the sights at nearby museums and beaches. 

As one of Mexico’s most tranquil states, Yucatan features a year-round tropical climate and a low cost of living. Yucatecans, who have strong roots and traditions, take pride in Merida, known as “The White City”, not only for the predominance of white limestone as a building material, but because its streets, plazas and parks are cleaned daily.

“Unlike other parts of the world where the economy has taken a big hit, Mexico’s economy continues to grow,” said Steve O’Malley, principal of MexCan Direct, a Toronto-based real estate agency specializing in Yucatan developments.  “So many people are losing their savings and watching their hard earned money disappear.  Investing in a stable country like Mexico where healthcare and the cost of living are inexpensive ensures their savings will last longer and will ultimately create a better quality of life for the homebuyer”.

Take part of the seminar & consumer show and enjoy a wealth of experience in overseas purchasing with Lereco´s network of developers/realtors who will co sponsor the seminar featuring renowned speakers, who are the leaders in their field, and who will discuss various topics in order to educate prospective buyers on a number of issues that should be considered before buying foreign real estate.

Homebuyers and prospective sales partners interested on attending Connections, International Developers Expo or finding out more on Flamingo Lakes, are encouraged to visit www.flamingolakes.com  or call the onsite sales office toll free at (866) 309-4379 for more information.  The sales office is open daily from 9 a.m. to 5 p.m. Central Daylight Time.

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Don’t be afraid of the banker!!

If you where told by a lender you where going to have to pay a high interest rate for your loan, say 12% don’t let that deter you from using there money and buying your home. I’m going to show you some figures and a scenario that will change your mind about how you think about interest on a loan. Let me show you the bottom line or the total dollar amount you will pay when paying a mortgage and paying rent and what the benefits of a mortgage are:Let’s say John bought a home and has a $75,000 mortgage @ 10% interest for 30 years on his home with a payment of $750.00 per month. John’s friend Bill is renting a house, but he is paying $750.00 per month in rent with no interest (I am using these numbers for illustration purposes). Now, it’s a funny thing, but both men live in their homes for the full 30 years and guess how much money both paid out in that 30 years? Do you think John would have paid more money in the 30 years then Bill did because John was paying a mortgage? The answer is no! Thirty years equal 360 months of payments and if you multiply 360 X $750.00 you get $270,000.00. That means both men paid the same amount of money over the 30 years with one BIG difference! John now OWNS his home but Bill is still paying rent and does not own the home. In fact Bill’s rent more then likely paid the mortgage off for the owner of the house he is renting from.As you can see, even though John was paying a mortgage payment of $750.00 per month, the total amount of dollars paid in the same time period of 30 years is the same. Now Bill has nothing to show for all the rent payments he made except for 360 rent receipts. So you can see how the interest rate does not change the total amount paid over the time period because $750.00 per month is $750.00 per month. No matter what you call it a mortgage payment or rent payment, the bottom line is the same.So whatever type of mortgage you can qualify for has to suit the payment you can afford and are comfortable with. Of course; the amount of money borrowed, the interest rate, and the term or years the money is borrowed is what will determine your payment.So the bottom line is: if you get a mortgage that is comfortable for you payment wise… let’s say equal to what you were paying for rent, the major thing you changed is the fact that you own the home now and you are not just paying rent or paying off someone else’s mortgage.

You know the bottom line is we all have to live somewhere and we have to pay for that living space, so why not own what we have to pay for anyway. And don’t get hung up on the interest rate to where it stops you from buying your home… just make the payment amount work for you.

Now let me show you what you can do with a mortgage payment that you can’t do with a rent payment.

Stay with me now because it is going to get really good! As you have seen from our example above, the total amount of money paid over the 30 years or 360 payments for the mortgage and rent came out to be the same dollar amount in the end. However, did you know you could change the bottom line or the dollar amount paid when you are making a mortgage payment as well as the amount of time it will take to pay the money back?

A mortgage is calculated by the amount of money borrowed, the interest rate, and the amount of time it will take to pay it back. This calculation is called an amortization schedule. I am going to show you an amortization schedule for a mortgage now and show you how to change the total amount of money you will pay and the amount of time it will take to pay it back! Lets say you get a mortgage for $75,000@12% for 30yrs This is what the amortization schedule will look like:

Payment —- Interest —- Principle —- Balance

$771.46 —-$750.00 —–$21.46 ——$74,978.54

$771.46 —-$749.79—– $21.67 ——$74,956.87

$771.46 —-$749.57 —–$21.89 ——$74,934.98

$771.46 —-$749.35—– $22.11 ——$74,912.87

$771.46 —-$749.13 —–$22.33 ——$74,890.54

$771.46 —-$748.91 —–$22.55 ——$74,867.99

$748.68 —-$748.68 —–$22.78 ——$74,845.21

$771.46 —-$748.45 —–$23.01 ——$74,822.20

$771.46 —-$748.22 —–$23.24 ——$74,798.96

$771.46 —-$747.99 —–$23.47 ——$74,775.49

$771.46 —-$747.75 —–$23.71 ——$74,751.78

Totals —-$8,237.84 —-$248.22

As you can see, when you make a payment on a mortgage a large part of the money goes to interest with a small part of the money going to principle. You will notice the principle balance increases with each payment and the interest balance decreases with each payment, but this happens very slow.

Now, let me show you what control you have over a mortgage:

As you can see; in the 11 months of payments we made on this mortgage, we paid $8,237.84 in interest and $248.22 in principle! This is what YOU can do. When you looked at this schedule after your closing, you noticed the figures. If you were to add the total of the principle for the 11 months of payments ($248.22) to your first mortgage payment and told the lender you wanted the extra money to go towards the principle this is what would happen for you: you would reduce your mortgage by 11 months and save $8,237.84 in interest payments! This happens whenever you make extra payments on a mortgage, no matter how much or little you pay. You always have to specify that this extra payment is designated to go towards the principle and this works best if you start right away in the very beginning of the mortgage!

This means that in your first month you have already changed the total amount of money and time it will take to pay back your loan. The more you can do this, the less money you pay in interest and less time it takes to pay the money back.

The mortgage has to have no pre-payment penalties. That happens to be the majority of mortgages that we see today. However, ask and make sure so that you have no surprises later. This is just one simple thing you can do with a mortgage which gives you control of the bottom line as far as money paid back and the time it takes to pay it back.

I have put a web site together with lots of information on money matters. Information is very important and gives use ideas that can make us a lot of money! Take some time and check out the site.
All The Information Is FREE!

http://www.easymoney-123.com