The Complete Guide to Flipping Properties [Paperback]

Steve Berges (Author)

Book Description

Publication Date: January 2, 2008

Now in a newly updated and revised second edition, The Complete Guide to Flipping Properties covers all the ins and outs of buying, renovating, and reselling distressed properties at big profits. Steve Berges shows you how to excel at every aspect of flipping, from finding great deals, to analyzing property values, to negotiating sales, to closing deals. With new information on flipping in a soft market, this is the only guide you need to start turning a profit now.

Editorial Reviews

From the Back Cover

How to Earn Big Profits Flipping Houses—in Real Estate Market!

More and more people are flipping properties every year, but in today's tougher, tighter real estate market, it's not as easy to turn a profit. The Complete Guide to Flipping Properties, Second Edition presents proven, straightforward guidance for making money on every single deal. Author Steve Berges provides in-depth explanations of every aspect of the art of flipping—from finding properties and closing the deal to making the right renovations and locking in big profits. This new Second Edition includes everything you need to know about flipping—in any market, in any economy:

• New financing options

• Top ten improvements that guarantee increased value

• Property valuation methods—and which one is right for you

• Financial analysis and modeling techniques

• Proven strategies for maximizing value and profit

• Seven steps of successful negotiation

• Foolproof exit strategies for getting rid of properties safely

• How to assemble a winning team of professionals

With tips on writing business plans, investing on credit or with other people's money, creative financing methods, and smart strategies for flipping in a down market, The Complete Guide to Flipping Properties, Second Edition gives you all the tools you need to build wealth safely and reliably.

About the Author

Steve Berges is a successful real estate investor who specializes in creating real estate value through single-family homes, apartment complexes, and the development of single-family housing communities. He is also the author of The Complete Guide to Buying and Selling Apartment Buildings, from Wiley.

Product Details

• Paperback: 288 pages
• Publisher: Wiley; 2 edition (January 2, 2008)
• Language: English
• ISBN-10: 047014677X
• ISBN-13: 978-0470146774
• Product Dimensions: 7.5 x 0.6 x 9.2 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.7 out of 5 stars  See all reviews (19 customer reviews)
• Amazon Best Sellers Rank: #880,780 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

89 of 89 people found the following review helpful:

5.0 out of 5 stars Excellent Financial Analysis!, March 14, 2004

By 

Mitch L (Gainesville, FL) - See all my reviews

This review is from: The Complete Guide to Flipping Properties (Paperback)

I've read a half dozen or more books on flipping/rehabbing and none of the others come close to this one when it comes to financial analysis. Most authors focus on the "how to's" of flipping, which Berges does also, but he outshines all of them when it comes to analyzing real estate.

Berges walks the reader through using several examples in a financial model to help properly analyze an investment property . At the end of the analysis, if the returns are acceptable, you buy the property and if they are not, you pass on it and go on to the next one. No emotional attachments here. Buying and selling is done strictly on an analytical basis.

A lot of authors tend to focus on getting in to a deal for "nothing down" but say very little, if anything, about value. Just because you can buy a house for nothing down doesn't mean it's a good deal or that you should buy it. Out of all the real estate books I've read over the years, Berges is the only one to really emphasize value.

My guess is that Berges will lead the way among future writers by emphasizing value and financial analysis just like Robert Allen led the way with the nothing down techniques in the 80s and 90s.

Two thumbs up!

30 of 30 people found the following review helpful:

5.0 out of 5 stars Another Great Book by Berges!, January 25, 2004

By 

Ken Johnson (Dallas, Texas) - See all my reviews

This review is from: The Complete Guide to Flipping Properties (Paperback)

I read Berges' book The Complete Guide to Buying and Selling Apartments about a year ago or so and liked it so well I couldn't wait for him to come out with another book. His book on Flipping is every bit as good as the book on apartments. Berges provides a comprehensive and complete approach to anyone interested in buying and selling houses. He wrote about a similar topic, which he referred to as "the value play" in his apartment book. In the flipping properties book, Berges applies the value play strategy, which is to buy, add value, and sell, all in a very short period of time. The idea is to get in, get out, and make money!

Although Berges covers one of the same topics Bronchick does, he does it in a different way which gives the reader another perspective. Authors write about similar topics all the time. There's nothing wrong with this. Berges also covered several topics that Bronchick did not. No harm there either. It's pretty clear to me that judging by their writing styles and backgrounds, Berges likes the finance end of real estate while Bronchick prefers the legal end. Maybe the two should consider teaming up!

33 of 34 people found the following review helpful:

5.0 out of 5 stars Excellent! Realistic approach to flipping., November 9, 2003

By 

Frank (New Jersey - Real Estate Investor) - See all my reviews

This review is from: The Complete Guide to Flipping Properties (Paperback)

I just finished reading this book and I must say the author Steve Berges has done it again! I read his book about buying and selling apartment buildings which was very well written, so I decided to give this one a try. I wasn't disappointed as Berges really delivers on the topic of flipping. Not only does he describe in detail the underlying theory about the different types of flipping, but he supports it with actual examples.

My three favorite chapters were Chs 3, 6, and 11. In Ch 3, Berges describes what he refers to as "the value play strategy" which basically has to do with creating value in investment properties and turning them for a profit. Ch 6 was an excellent chapter focusing on several examples which used detailed financial analysis to help really understand how to value properties. Most of all, he explains how to know when to buy a property or when to pass on it. The last chapter of the book, Ch 11, was not so much about real estate as it was about how to succeed in life, regardless of your chosen career path. Well done and inspiring.

I really like this book because it leaves you feeling good about yourself and about your ability to accomplish your goals. In my opinion, the book is a must read for anyone interested in learning about flipping properties.