(Source: Investopedia)

Many people assume that they can simply 1) buy a house, 2) apply a fresh coat of paint, 3) trim some bushes, and then 4) resell the home at a profit. Unfortunately, this process, called “flipping” is not that easy. After all, if it were, everyone would be doing it.

There are several skills and people that every potential investor/flipper should have in place before even considering entering into a real estate transaction of this nature. In this article we’ll look at the top five “must-haves” you’ll need to succeed in this endeavor.

1. A Group of Experts
2. A Handyman or Knack for Home Improvement
3. A Good Lay of the Land
4. A Good Estimator
5. A Dose of Patience

Read Glenn Curtis’s full article “Top 5 Must-Haves For Flipping Houses” in Investopedia (July 31, 2009).

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