William Bronchick clears the difference between Flipping and Speculating
March 21st, 2010William Bronchick is the most experienced real estate attorney and a well-known expert who can teach the tactics of real estate in the best way. Since 1990, he has been practicing law and helping real estate investors and small business entrepreneurs in making profits in the real estate field.
William Bronchick clears the difference between flipping and speculating. Flippers who have consistent success are more conservative and have a fundamental approach to real estate investing. While it may not be as exciting as speculating, the rewards of more conservative flipping are nearly as generous, and they are paired with far less risk. The most important factor that differs flipping and speculating is that flipping can work in any market whereas speculating only works in certain places in certain conditions. Speculating works with the simple concept of “greater fool” thesis, finding a fool greater than the current investor who will take off the property in the expectation that he will get another greater fool for his property. William Bronchick says that in order to get enough reasonable profit, the investor needs to rehab the undervalued properties in an attractive manner. After all, it is a bit harder to find bargain properties in booming areas.
William Bronchick strictly suggests having Plan B for speculators following the “greater fool” strategy. Flippers tend to have one or two exit plans like quickly flipping the title to another investor and selling the property at the retail level.
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About William Bronchick
William Bronchick, CEO of Legalwiz Publications, is a nationally known attorney, author, entrepreneur, and speaker. Mr. Bronchick has been practicing law and real estate since 1990, having been involved in over 1,000 transactions. He has trained countless people all over the United States to become financially successful, speaking to audiences of as many as 16,000 at “Get Motivated” events sharing the stage with names like Rudy Guliani, Steve Forbes, and Colin Powell. His bestselling book, ‘Flipping Properties’ was named one of the ten best real estate books of the year by the Chicago Tribune. William Bronchick is also the co-founder and President of the Colorado Association of Real Estate Investors and the President and Chairman of the College of American Real Estate Investors.
