Sunday, December 5, 2010
D. Sidney Potter's The Flip
D. Sidney Potter's The Flip offers a step by step guide for flipping real estate, a veritable "how to" for the aspiring real estate mogul. Potter's extensive knowledge and background in the house-flipping market serves his readers well; however, he does not write with the assumption of experience, but, rather, starting at the beginning "What is House Flipping?", breaking the overwhelming process down into manageable steps. He breaks the process down into large categories: How to Begin, Choosing the Property, Optioning the House with Upgrades, Marketing the Property, What to Do at Closing, and Leveraging and Maximizing Your Return. Potter details the pitfalls of the investment and how to deal with the potential risks involved in what is frequently considered a wildly chancy investment: getting around "can't sell" clauses, straying from the Game Plan, seeking counsel from outside sources, and, most importantly: when to walk away from a flip. Potter presents different styles and options, with advice and comparison on all the possibilities from deciding on a city and state to whether to market the property yourself or use a real estate agent. The strength of Potter's writing lies in his ability to address significant but seemingly small considerations like "Tips to Show the Home Properly and Inexpensively," offering tips to minimize your cost and maximize your profit while still presenting yourself professionally and providing quality, the ability to break down a large and intimidating market into manageable pieces, and his prowess for interweaving personal experience with valid advice, providing credence to his advice and a story to keep the reading from becoming dry, but without turning it into a personal narrative.