real estate starting up

[Aubyn Rashford]

My wife an I close our restaurant business an move to a different state ,we are now looking into getting in  real estate .what is the first step to become a real estate investor as in flipping homes an own rental properties ??, thank in advance.

[Anthony Dooley]

I always tell  people to become an expert in YOUR area on how much property is worth and how much would it rent for after repairs.  If you know your market, you will recognize a good deal when you see it. You will have to look at hundreds of properties to find one that the numbers work.  If it has been on the market a long time, it's not a good deal. Otherwise someone would have already bought it. This doesn't mean that you shouldn't make an offer.  This is the other thing to know like a book.  How to calculate the numbers of a deal to make it work. Know rehab costs, commission costs, holding costs, etc. Once you find the deal, you must act quickly to get it under contract. If it is truly a good deal, it won't last long.