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What It Takes To Flip Real Estate in Southern California

Posted on Feb 2, 2016

For the past few years, the real estate flipping business has been performing better than most other industries, especially in San Diego California. However, although house flipping is no rocket science, one should understand that it extends beyond buying houses, renovating, and re-selling at a profit. Several professionals have successfully hacked into what it takes to succeed in the house flipping business to become one of the most popular house flippers in San Diego, California. These include:

Chris Bedgood
Chief Denney
CEO Than Merrill

To make it as a professional real estate flipper in San Diego or any other County and be classified among professional flippers like Bedgood and Chief, you must possess the following traits;
Excellent negotiation skills

The amount you make in the flipping business is determined by how great you are in negotiations and deal making. You have to negotiate with the owner for the lowest prices if you are to make maximum profit on resale. You also must use same skill to convince buyers why they have to buy at your renovated home at what may seem like an inflated price. Most importantly, you have to negotiate with the contractors to accept the lowest price for quality work as it is the contractor that determines how much profit you make on resale.

Good analytical skills and market consciousness

Another great trait every real estate flipping agent should have is the knack for proper timing. As an agent, you must possess exceptional research skills. This comes in handy when evaluating market trends like finding out the types of houses on demand and comparing market prices for different properties; these are crucial in deciding what kind of houses to invest in as well as what prices to buy and sell at.

David Turner, a senior editor with Biggerpockets, a real estate investor’s website, believes that math never lies when it comes to property sales. A professional who does an excellent analysis of the prevailing market conditions, combines with good math, and tops it up with good negotiation skills will not subside to losses that are the greatest demoralizers in this industry. They will always report a profit for every deal and thus revenues required to grow in the industry.