This is Part-2 of the series where we'll cover how to get started in Wholesaling, Flipping, and Buy and hold.
In episode 41 of An Investors Journey Podcast, I want to cover How To Get Started With Flipping!
WARNING: We have met so many people that for one reason or another they want to start their real estate journey in flipping. This we believe is a very big mistake. Flipping is one of the riskiest, most advanced strategies in the real estate space. All of the risks associated with flipping houses cause many first time investors to lose their a$$. This tends to scare them away from investing in real estate altogether which we feel is another big mistake. This is also an issue for more seasoned investors too because they feel they know more than a new one. This causes them to make simple mistakes that end up costing thousands!
All of that being said, IF you still want to do it here's how to do it correctly.
In this episode I will cover:
- Things to keep in mind when flipping
- How to correctly analyze a deal before buying
- Determining TRUE value
- Setting up SOW
- The actual flip process
- Getting contractors
- Buying/Sourcing materials
- Remembering to budget in the exterior
- The sale process
- Listing the house
- Finding the right agent
- Speed matters
- A BONUS Tip!!
Listen to this episode a couple of times along with the episodes in Related Episode section below to become better prepared when flipping houses.
Check out this episode and please share it with someone you feel would benefit from it.
As always, if you have any questions just ask!
DID YOU KNOW?
We have walkthrough videos of projects we have done and are currently working on. We share our scopes, pricing, strategies, problems, and successes. Check them out here http://bit.ly/PropWalkthrough
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Hope you guys enjoy this one!
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