HOW TO FIND, FIX and SELL Houses For PROFIT - PART 1

Greetings everyone. I thought I would start this forum topic on how to find, fix, ans sell (FLIP) a hose and still make a profit. It will be a multiple part series so just follow th numbers to keep up. I am far from being an expert but I am posting this info because we ALL need it. So thank you for your attention in advance.
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Part One - FIND: How to Find Houses With Investment Potential

1. DEFINE YOUR TARGET
Defining target neighborhoods is a two-step process. In the first step you will identify the various factors that go into evaluating a neighborhoods, we will call that your personal criteria. The second-step is applying that criteria to choose your target neighborhood.

5 Benefits of Defining Target Neighborhoods
1. Lower cost per qualified lead - your money is
focused on high quality leads and minimizing
the unwanted ones.
2. Less Time Qualifying Leads - You spend less
time filtering and rejecting unwanted leads.
3. Find Houses Quicker - You become an expert in
your target neighborhoods enabling quicker
assessments of what houses sell for and what
they cost to fix up.
4. Buy More Houses - You will have more qualified
leads which means more house-buying
opportunities.
5. Buy The Most Profitable Houses - You can be
choosy about what deals to take because you
have more leads to choose from and more
information.

Criteria For Neighborhoods
1. Proximity of neighborhood to amenities
2. Selling prices of the homes in neighborhood
3. Sales activity of the homes in neighborhood
4. Ages of homes in the neighborhood
5. Appeal and charm of the neighborhood
6. Safety of the neighborhood

2. GENERATE LEADS
You do this by prospecting, advertising and networking. Utilize the team you put together for referrals to properties an/or homeowners.

Connect with people who can connect you to houses and sellers.

Places To Prospect: Your target neighborhoods
The Multiple Listing Service
Classifieds
Foreclosures

Advertising: Create an appealing message to attract
buyers and sellers.
Focus on the benefits to the customers.

Utilize creative places to place your advertisements such as in Dean's book.

Networking: Use the great support network or team you have already created to generate great leads. Then cultivate it. Use some sort of spreadsheet or contact management system to keep track of your contacts.

Categories of your Network:
Resources - People who might send you leads

Allied Resources - People who can and will
and you leads

Advocates - People who will absolutely send you
leads.

Core-Advocates - People who are in a great
position to send you leads and will.

3. QUALIFY THE LEAD
If a seller (a) has equity in the house (b) has cash to pay off the loan (c) has an agreement with the lender to reduce the loan THEN this means (1) they need to sell quickly and/or They don't want the hassle.

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Look forward to the next installment in this series.