TABLE OF CONTENTS Foreword Introduction Why Did I Write This Book? 20 Steps to Your First Rehab Chapter 1: First Concepts What is House Flipping? Does Flipping Still Work in Today's Market? How Much Can I Earn Flipping Houses? What About Taxes? Are You a Contractor or an Investor? Controlling Your Deals Part-Time House Flipping Chapter 2: Get Your Financing In Order First, The Bad News Types of Real Estate Financing Summary of Financing Options Your Financial Resume No Cash? No Credit? Know This! Some Other Tips to Successful Borrowing What About Creative Financing? Chapter 3: Find Your Real Estate Agent What Kind of Agent Do You Need? Becoming Your Own Agent Your License As a Secondary Income Stream Chapter 4: Where Should You Buy? Determining Your Farm Area Analysing Potential Markets My Farm Area Chapter 5: What Should You Buy? Distressed Properties Retail Properties The Foreclosure Process Property Criteria Level of Renovation Chapter 6: Who Should You Buy From? Purchasing From Owners With Equity Purchasing From Absentee Owners w/Equity Purchasing From Owners Without Equity Purchasing Banks Owned Foreclosures (REO) Purchasing Foreclosures at Auction (Trustee Sales) Which Type of Seller is Right for You? Chapter 7: How Will You Find Deals? The Acquisition / Marketing Grid The MLS Online / Auctions Direct Marketing Advertising Internet Marketing Bandit Signs Wholesalers On-Site (Trustee Sales) Other Marketing Techniques Chapter 8: The Flip Formula The Flip Formula Determining Sales Price Calculating Fixed Costs Your Profit Estimating Rehab Costs Chapter 9: Looking at Properties The 100 House Rule Start Looking For Deals Deciding Whether to Make An Offer? Using Price Per Square Foot to Pre-Evaluate Chapter 10: Making Offers State Contract vs. Custom Contract The 5 Big Contract Components Negotiating Tips Chapter 11: Your Due Diligence A Cautionary Tale Due Diligence Tasks Run the Numbers Again What if The Numbers Don't Work? Purchase Checklists Chapter 12: Create Your SOW What is a Statement of Work (SOW)? How Much (Or Little) Renovation Should I Do? Over-Rehabbing Under-Rehabbing The 25 Renovation Components Scope of Work: The Demo House Chapter 13: Create Your Budget Building Our Budget Budget: The Demo House Chapter 14: Create Your Schedule Scheduling Components Scheduling Rules of Thumb Schedule: The Demo House Chapter 15: Hiring Contractors The Spectrum of Contractors The Value of a Great Handyman Creating Your Rehab Team Finding Your Contractors Your Contractor Paperwork Employee or Independent Contractor? Chapter 16: Managing Your Rehab Chapter 17: Agent or FSBO? The Value of a Good Agent When To Consider "For Sale By Owner" What About Flat Fee Listings? Chapter 18: Staging Deciding Whether to Buy or Rent Furniture Top 16 Staging Tips Chapter 19: Buyer Due Diligence Preparing for the Buyer Inspection Dealing With Inspection Issues Handling Appraisals Beware of Buyer Financing Traps Chapter 20: The Closing The Closing Process 10 Tips To Improve Your Closing Success.