SnapFlipBank – How it Works
Traditional house flipping can be profitable, and if you watch HDTV, it might seem fun. But the truth is that house flipping is complex. From finding the right house, tracking down the owner, buying it at a fair price, and then investing the time and money to fix it and finding a seller…it may seem too complicated to do, especially if you’re a rookie investor.
What if there was an easier way to flip houses? What if there was a real estate investing app that could help you find the house, identify necessary repairs, and find a buyer so that you turn a profit? With SnapFlipBank, house flipping has never been easier! And you don’t have to worry about risking any of your own money.
How Does SnapFlipBank Work?
1) Snap a Picture
When you first snap a picture of a house, the app uses your location to triangulate the GPS coordinates. Once the app knows your GPS coordinates, it will ask you to verify the home address. The app’s proprietary software can use Google satellites and street view to assess property boundaries. From there, the app does some online search queries to find the house’s size, value, and age, so you’re armed with all the information you need to choose the right property to flip.
Don’t worry; taking pictures of other people’s houses is legal as long as you are standing in the street or on public property.
2) Flip a House
Lien record query – The first step is the lien record query, where the app searches online databases to determine debt equity from existing loans and liens on the property.
Property repairs – Next, the app uses a proprietary secret formula to estimate the repairs on the property. This is the most valuable aspect of the app because calculating the cost of repairs is challenging, and most people get it wrong when they try to do it on their own.
Full property query – After assessing the debt equity and repairs, the app does a full property query to look through 35 different pieces of information. This information includes tax records, number of bedrooms and bathrooms, purchase history, and more.
Offer price – After all those critical calculations, the app goes into analysis mode to determine an offering price. It analyzes wholesale, fixes, MAPS, and WARP to find the best strategy for making money. SnapFlipBank outlines 12 flipping strategies you can use, including equity partnering, lease option, auction option, buy/hold, short sale, house swap, commercial, and referral. These strategies show up on the app scoreboard, telling you the pros and cons of each option.
Skip tracing – The final thing that SnapFlipBank can do for you is skip tracing. Let’s say you have found a house that would make a perfect flip, but the owner has not put the house on the market. To contact them, you need a phone number or email. That is why skip tracking is so important. SnapFlipBank taps into FBI and police databases to find the home’s owner, even if they’re not listed in the phone book!
3) Bank a Check
The best part is that most of these strategies require no money or credit, which means no risk to you. If you have money, our advanced real estate investing app can also show you how to use short sale strategies or how to buy and hold a property to wait for the value to go up.
What Transactions Can You Do with This Real Estate Investor App?
Let’s say that you are new to the real estate market. You want to flip houses but need to learn how to do it. SnapFlipBank outlines 12 different options to flip or sell the property to make a profit:
- Wholesale: Buy the fixer-upper and sell it to another investor to flip
- Fix and flip: Fix up the house yourself and sell it for a profit
- Mortgage assign: Sell the mortgage to an investor
- Flip on wrap
- Equity partner: Invest in the property as a partial owner
- Lease: Lease or rent the home
- Auction: Sell the property to the highest bidder
- Buy and hold: Buy the home and hold it to sell later
- Short sale: Buy the property from the owner at less than the mortgage value
- House swap: Exchange the property for another property of lesser value
- Commercial: Sell the land to a commercial developer
- Listing referral: Pass the listing on to a real estate agent.
How Easy Is It to Use?
Who Is SnapFlipBank For?
Invest in Real Estate Like a Pro in 3 Easy Steps
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