Fixing and Flipping

[Kevin Michel]

Hey! I’m new to the Real Estate world and I’m considering going into Fixing and Flipping. What would be the best way to approach this and the best way to get started? Any advice would be great, thank you! 

[Mark Munson]

Hey @Kevin Michel

       Welcome to BP! Feel free to connect if you need advice. 

[Kyle Spearin]

@Kevin Michel I'd work backwards from your skillset, amount of capital you have (or can raise), and the market you're interested in. 

Based on the answers to the points above, you'll have a direction to go. If you want more tactical advice, you'll need to get good at:

1. Finding deals (or networking with people who bring them to you)

2. Analyzing deals and understanding your market

3. Knowing how to rehab

4. How to operate a business

[Anderson S.]

Hi Kevin,

To get into fix and flips, I started by focusing on a few key steps that helped me find success:

1. Educate Yourself: Learn the market, analyze property values, and understand rehab costs.
2. Build a Network: Connect with real estate agents, contractors, and lenders.
3. Secure Financing: Consider hard money or private loans for quick capital.
4. Find the Right Property: Look for undervalued homes in growing areas.
5. Create a Detailed Plan: Budget carefully and have a clear timeline for renovations.

What worked best for me was staying disciplined with my numbers and always having a solid team in place. Conversely, rushing into deals without thorough due diligence is something I would avoid.

[Mackaylee Beach]

I suggest defining your goals – what exactly do you aim to achieve? Real Estate is a vast industry, and with dedication, continuous learning, and ample networking, success is within reach.