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Advice for buying and reselling for a profit. - Oct. 14, 2004 Web CNN/Money Buying & Selling Investment Property Home Improvement Million $ Life Financing Best Places The art of the flip A new reality television show will follow real estate speculators as they buy, fix and "flip." October 14, 2004: 2:24 PM EDT By Sarah Max, CNN/Money senior writer SALEM, Ore. (CNN/Money) It's one thing to buy a house to call home. It's quite another to buy property with the sole purpose of turning around and reselling for a profit. It's called flipping, and in the coming months, a dozen aspiring real estate investors experience this firsthand -- on camera, no less -- as they attempt to buy, remodel and sell property within a period of six months. Flipping is the subject of an upcoming reality television series with the working title "Property Ladder," scheduled to appear on The Learning Channel in May 2005. "Everyone you talk to seems to know someone who has tried to flip property," said Char Serwa, the show's executive producer. In California, where most of show's subjects are buying, 2.6 percent of all houses sold during the month of May were owned for less than six months, according to DataQuick Information Systems, up from 1.9 percent the previous year. There are several varieties of flipping, said William Bronchick, author of "Flipping Properties." One is rehabbing, which is the focus of the show. Other flippers buy property that's in foreclosure or under construction and try to resell the property to other investors. "We're not advocating that people do this," added Serwa, explaining that each homeowner's story will be told in an individual episode, detailing the experience from purchase to sale. "This is truly an observational documentary," she said. "It's real life." Indeed, the homeowners featured on the show are not only footing the bill for the property and the cost of renovations, they're managing the projects on their own. Unlike other TLC makeover shows, seasoned carpenters and designers won't be pitching in to help. QUICK VOTE Have you ever bought real estate solely as an investment, and not to have a place to live? Yes No View results What the show's subjects do get is advice from host Kirsten Kemp, an actress, real estate agent and seasoned property investor. Whether the homeowners actually take that advice is another story. Viewers, meanwhile, may likely learn a few lessons as well, namely that buying, remodeling and selling property is hard work particularly when done in a matter of months. "A lot of things can go wrong," said Kemp. It's also financially risky. A slowdown in real estate means little to a homeowner settled in for several years, but it can be devastating if you're banking on selling for a quick profit. Buy it, fix it and sell it. Kristen Kemp, host of TLC's 'Property Ladder,' shares tips on flipping properties. Play video (Real or Windows Media) Factor in the transaction and renovation costs and there may be little profit at all. Any profit you do make, mind you, will be taxed at ordinary income if you sell in less than a year, noted Ron Phipps, of Phipps Realty in Warwick, RI. In seven years, Kemp flipped 40 properties, not always successfully. "I made money about 70 percent of the time, and 30 percent of the time I broke even or lost money." Here's a sneak preview of some of the lessons Kemp hopes to bring home. Leave your emotions at the front door When shopping for investment property, you want to find a house that tugs at you emotionally, said Kemp. If a house rouses your emotions, chances are it will do the same for future buyers will as well. When it's time to make an offer, however, your emotions cannot get the best of you. "You make money flipping in part by buying low," she said. "The people who say 'I just have to have this house' are the ones who overpay.'" Don't overdo it when renovating See the average cost for 15 common projects and how much they can add to the value of your home. Type of project: Bathroom Remodel - Mid-Range Bathroom Remodel - Upscale Bathroom Addition - Mid-Range Bathroom Addition - Upscale Maj. Kitch. Remod. - Mid-Range Maj. Kitch. Remod. - Upscale Master Suite - Mid-Range Master Suite - Upscale Family Room - Mid-Range Deck - Mid-Range Basement Remodel - Mid-Range Siding Replacement - Mid-Range Window Replacement - Mid-Range Window Replacement - Upscale Attic Bedroom - Mid-Range Average job cost (2003 Natl Avg): $ What will you get back? % Cost recovered % Value at sale $ Get your local results from Remodeling Online's 2003 Cost vs. Value Report "This is not the time to create your dream house," said Kemp. "You don't want to fix the property to a level that is not necessary." This is a dilemma many first-time flippers struggle with. On the one hand, they want to do a good job on the renovation. On the other hand, they don't want to put money in expensive light fixtures or elaborate built-ins if they aren't going to recoup the time or money they spent. That said, you don't want to cover up serious problems with a new coat of paint or a well-placed picture. "You want to attack anything thing that would be a red flag at closing," said Kemp. DIY when it makes sense The more work you can do yourself, the more money you'll make on the flip, said Kemp. Still, even do-it-yourselfers need help sometimes. Develop a list of reliable contractors, plumbers, electricians, drywallers and other experts to call on. Kemp, for one, says she has her own contractor to thank for getting her through many projects. While you're at it, find a good real estate agent, she said. "They can help you understand what is selling and what's not," she said. "They'll do a good job because if they do, they know you are going to list the property with them when you're ready to sell." Price the property to sell You give your blood, sweat and tears to a house, but it's no excuse to overprice it. "I encourage people not to get greedy," Kemp said. In fact, she recommends pricing property a little under market value. "Every day your house is on the market you're losing money." What if "Property Ladder" homes don't sell in time for prime time? That's just part of the story. And in real estate, sometimes that's the reality. --* Disclaimer Try an issue of MONEY magazine - FREE! More on REAL ESTATE • How to buy and build on rural land • Most overvalued housing markets • When booms go bust... TODAY'S TOP STORIES • Most overvalued housing markets • Risks to the economy in 2006 • Which was the worst ad of all in 2005? CNN Money contact us | subscribe to Money magazine advertising -- | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business 2.0 | Time © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. Terms under which this service is provided to you. privacy policy Reprints of site stories are available.

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Arkansas Real Estate MultiList - Homes, Land, Farms and Commercial Property For Sale Arkansas Real Estate MultiList Homes, Land, Farms and Commercial Property For Sale Search Arkansas MLS Real Estate For Sale Search for Real Estate in other states Home List of Agencies Agencies By City Agencies By County Arkansas Info Real Estate Services Interesting Links Contact Us U.S. Lots Visit Our Blog! Welcome to the Arkansas Real Estate MultiList - an independent searchable MLS database for Homes, Land, Farms and Commercial Property. The Arkansas MultiList contains a wide selection of Arkansas homes, land, farms and commercial property for sale . Search listings from many different AR Real Estate Agencies - rural property, commercial, business and lake property and other Arkansas Real Estate. Under the description of each listing, we provide a website link to the listing agency having the property listed. We encourage you to visit the individual agency web sites having properties you might be interested in, or you can request information directly from the information page on each real estate listings. You can find additional local area information and Arkansas Maps and Information on the many agency sites listed here. Thanks for visiting the Arkansas Realestate MultiList . If you have questions or need assistance, please do not hesitate to contact us. Real Estate Term of the Day for Thursday, December 29, 2005 Primary Mortgage Market: Lenders making mortgage loans directly to borrower's such as savings and loan associations, commercial banks, and mortgage companies. These lenders sometimes sell their mortgages into the secondary mortgage markets such as to FNMA or GNMA, etc. Link to Us ©1998-2005 U.S. Cybertek, Inc., All Rights Reserved U.S. Cybertek, Inc. 350 W A. Suite #104, Casper, WY 82601 Phone: 417-967-2011 Website: http://www.uscybertek.com E-mail: webmaster@uscybertek.com The Arkansas Real Estate Multi List, is an advertising resource for real estate agencies and is not involved in any real estate transaction. "Arkansas Real Estate MultiList" and "Arkansas MultiList" are Trademarks of U.S. Cybertek, Inc. Real Estate MultiList Arkansas festivals , fun , food & more. Click to explore...

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Prudential Northeast Properties - A Maine Real Estate Agent | Buying, Selling, Residential Homes, Commercial Properties Residential Property Commercial Property Land Multi-Family Rentals Find a Professional Contact Us Relocation Services Buying and Selling Tips Request for Info Careers in Real Estate Community Consumer Information Home Bangor Office 160 Broadway (Main Office) Bangor, Maine 04401 (207) 942-8261 (tel) (207) 942-9544 (fax) Ellsworth Office 105 High Street Ellsworth, Maine 04605 (207) 667-4604 (207) 667-4719 (fax) Searsport Office 185 West Main Street Searsport, Maine 04974 (207) 548-2280 (207) 548-0246 (fax) Camden Office 23 Main Street Camden, Maine 04843 (207) 236-4393 (207) 236-4314 (fax) Newport Office 158 Main Street Newport, Maine 04953 (207) 368-4400 (207) 478-4361(fax) Northeast Harbor Office 12 Summit Road Northeast Harbor, Maine 04662 (207) 276-5108 (207) 276-5091 (fax) Dexter Office 24 Main Street Dexter, Maine 04953 (207) 924-3300 (207) 924-6700 (fax) Prudential Northeast Properties is a Maine real estate company serving all of Eastern, Central, Coastal, and Downeast Maine. We can help you with: Buying or Selling a Home Real Estate Investment Commercial Properties Mortgage Finance Appraisal Services New Home Construction Why Choose Prudential? Our commitment to serving the needs of our clients with uncompromising professionalism, caring and integrity sets our company apart from other firms. Experienced, knowledgeable real estate brokers combined with our "one stop shop" approach to real estate allows us to provide you with superior service and products. We have been in business since 1903, and our affiliation with Prudential Real Estate enhances our network capacity and provides access to the best tools and programs available. With our world wide reach and state of the art technology and services we simply have more to offer you. Whether you're interested in buying or selling a home in Maine, or seeking resort, vacation and retirement living opportunities in Maine, we offer you a wide range of information designed to help you make the right decision concerning this substantial investment. If you're thinking about relocating, be sure to explore "relocation services " to make yours an easy move. We invite you to become one of our valued clients today - Welcome. OR Property Type Residential Commercial Land Multi Family City/Town OR MLS Number | Residential Property | Commercial Property | Land | Multi-Family | Rentals | Find a Professional | Contact Us | Relocation Services | Buying and Selling Tips | Request for Info | Careers in Real Estate | Community | Consumer Information | Home | 1998 - 2005 Prudential Northeast Properties. An independently owned and operated member of The Prudential Real Estate Affiliates, Inc. is a service mark of The Prudential Insurance Company of America. Equal Housing Opportunity. Equal Opportunity Employer.