Contract flips in NY

[Katelyn Montrony]

I have been in the real estate world for a while and have a good understanding on how to flip a home on Long Island. More recently I learned about contract flips (always knew what they were but never looked into it). There are a lot of big investors out there doing contract flips but I wanted to know if there is anyone doing this in NY? What are the legalities of it? How profitable is it in NY? How are you finding buyers for these contracts and how are you finding sellers ? I have posted numerous adds on Craigslist and I am just not sure how to find my buyers and sellers. Also I may add, I am a real estate agent, so I can access MLS to gain information on specific homes but I'm not sure how to put it to good use. I usually fail at finding valid contact information. Please help!