First House Flip-- Where do I start?

2 Replies

Hi guys, 

I want to do a house flip, however, I'm a little paralyzed by fear.  Ideally, I would want to partner with somebody who knows what they are doing and is willing to teach me while I provide some of the financing.  What would you guys suggest for finding a trustworthy, reliable partner? I want to protect myself from being taken advantage of and I don't know where to start.  Your suggestions would be appreciated! 

I think theres two main ways that people get started with flipping homes. One way would be to shadow an investor and learn the process without any financial involvement. You would then take this knowledge and tackle a home on your own. The other way, which is what I did, was invest with a seasoned investor that would serve more as a mentor. We split the costs and profit 50/50 and we discussed each item before making a decision.

As far as finding and partner to invest with, I've heard that people have had luck at local REI meetings or just talking to people that they know who are in RE.

Thank you, Micah. I appreciate this! I think I'm leaning towards the second thought. I like the idea of having skin in the game, as well as learning from a pro. I will seek out some REI meetings.