Real Estate Flipping Tips - Close Quickly and Get Paid
By Alex Nghiem

This is the final step - getting paid and unfortunately, this is also where most investors completely botch the job and watch all of the profits evaporate (as the old saying goes, "'Almost' only counts in horseshoes and atomic bombs").

Here are some things you can do to ensure you get paid and get paid quickly:

• Pre-qualify your buyers early in the process: don't take their word that they can buy-have your mortgage broker actually pull their credit
• Use your own mortgage broker: this way, you can know what's really happening. There's nothing more frustrating than being told that a buyer is able to afford a house when that is not the case.
• Use your own closing attorney: again, if there are complications, you will be notified immediately
• Use your own paperwork: this way, you know exactly what terms are in the paperwork. We have seen many investors leave a lot money on the table because they didn't want to invest the legal fees and time required review the other party's paperwork
• As soon as you put the property under contract, order a title search to ensure you have clean title (i.e., free and clear of all liens and judgments)
• If your buyer is using an agent, insist that he/she use your agent and get another agent to represent you

It's your money on the line so make sure you do everything necessary to ensure that the deal closes smoothly. Afterwards, celebrate and program yourself to enjoy the feeling of victory! That will make it easier to repeat this process and you will remember the elation from closing a deal!

The bottom line is this is the one area you need to get right.