Three Types of House Flippers by real estate expert Steve Schneeberger

A lot of property investors in the Twin Cities go into that part of real estate to become what is known as a house flipper. In this position, they purchase real estate in the Twin Cities with the goal in mind to immediately sell the property in the Twin Cities so that they can turn a profit. In our conversation we will look at three different types of house flippers.  

Position #1 – The person that gathers the information

This position is also known as the scout and the main idea is to get as much information about a possible transaction in the Twin Cities and then sell that information to other investors. This is a great position to get into if you are just starting out because you don’t need any money or really any prior education to get started. The job entails finding property in the Twin Cities that motivates a seller to get rid of it a price that is below the market value. This is usually someone that is in either an emotion-packed or financial situation.

Position #2 – The Dealer

Much like the information gatherer, this type of house flipper will also look for prospective transactions in the Twin Cities for other investors. Through what is known as a purchase contract, he will actually control the property where the information gatherer or the scout did not. The dealer may put down some money on the property in the Twin Cities. This type of position will assume more risk, but can also make more money.

Position #3 – The Retailer

The dealer usually sells the transaction or property deal in the Twin Cities to the retailer. The retailer is the one that will have the funds to fix up the property in the Twin Cities and then turn around and sell it at full price to a buyer. The retails is the one person that will absorb the most risk, put up the most money and in the end will make the biggest profit.  This position is also the one that will take the longest time to make the profit. The dealer will often get assistance from a real estate agent like Steve Schneeberger.

There is a lot of free information available to you about buying, selling or investing in the Twin Cities real estate. For complete information about the Twin Cities real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Twin Cities real estate at . Please feel free to contact me with any of your real estate or mortgage related questions and I would be more than glad to answer your questions. Call me on my cell at 612-581-7313 or email me at steveschneeberger@edinarealty.com.

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 Tags: Richfield Minnesota Real Estate, Twin Cities foreclosures, Twin Cities short sales, Minneapolis foreclosures and short sales, Steve Schneeberger

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Steve Schneeberger

Richfield, MN

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