Russ Whitney is a real estate success story. From his humble beginnings-earning $5 an hour at a slaughterhouse-he became one of the nation’s youngest millionaires, turning a thousand dollars into $4.7 million in less than two years. But how did Russ Whitney accomplish such a feat?

Unlike other millionaires who keep their secrets to success, Russ Whitney is willing to share his experiences and secrets to gaining wealth. In fact, he developed a program called Building Life Wealth Program which aims to teach people on how to invest carefully and wisely.

One of the things taught in the program is how to attain positive cash flow. Establishing a positive cash flow is said to be very essential for individuals who have just started their careers in investing. In fact, a positive cash flow acts like a foundation of real estate business-for it to prosper the availability of a definite monthly income is necessary.

The program also explores the benefits of flipping. For those who are new to the world of real estate, flipping is a way of generating profit from real estate by either buying a property at a low price and selling high, or by buying an old or worn down house and fixing it before reselling it at a much higher price.

If an investor goes for the latter scenario, a house with a relatively low price will be purchased. These houses are often discounted due to bad house conditions. The investor will then repair the house and perform needed renovations. By doing so, the house will be at a higher value-much higher than its original price.

According to the Building Life Wealth Program, an investor should keep flipping to obtain stable cash flow. Aside from keeping cash flow, flips will also be profitable for the business. If flips are properly done, they will be able to bring in large amounts of cash in a short period of time. And this money can be used for more investments and more money-making ventures.

The program also explains rules about real estate investing. The program created by Russ Whitney explains the importance of learning about a neighborhood, before investing on it. For example, in flipping to be able to know if you are buying a particular property below its normal value, you have to know what its current market value is. You can look through the internet to find out about these things. Or if you want a professional take on the matter, you can hire the services of a realtor.

Russ Whitney also encourages investors to set a budget on the costs of renovations and repairs to be made-and to stick with it. Most of the properties sold at a low value usually need some work. You’ll know it’s a good flip if the property can be restored to its shape at a low cost and within a small amount of time.

Russ Whitney states that investing is a game of numbers. You have to do the math-find out how much you’re going to spend and how much the property is going to sell.

Author Bio: Are you looking for more information regarding Russ Whitney? Visit http://www.randomhouse.com/author/62310/russ-whitney today!

Category: Real Estate
Keywords: russ whitney,cash flow,real estate