How to Get Started in the House-Flipping Industry

Question

Hello all,

I'm new to this. However, I have been analyzing the house-flipping industry for the past two years. Seeing so many success stories and networking take place through this industry excites me. Now, I want to take action and start up in this industry.

Without any previous hands-on experience, I am turning to you guys for any feedback or help you may have for me.

Thank you very much,

Daniel J Walker

Rosston Smith · Answer

Keep studying, analyze deals and leap when you have the opportunity.Don't expect to know everything your first time. Its more important to just take the first step.

Mindy Jensen · Answer

@Daniel Walker , what are you currently living in? Do you own or rent?

If you own, start there. Look around and find something ugly, then make it look pretty. It doesn't always have to be replacement - paint is amazing! Paint those ugly cabinets. Paint those ugly walls. Paint the trim and doors.

It doesn't take much knowledge to change a light fixture or faucet. (TURN OFF THE POWER/WATER BEFORE YOU TOUCH IT!!!)

YouTube is a veritable University of knowledge. If you want to know how to do it, there's 1000 videos to show you step by step.

Finding a good contractor can be difficult. My friend Eric wrote this excellent article about why you won't find a good contractor.

Ricardo Rosales · Answer

Hi Daniel, welcome to biggerpockets, find a mentor that is already doing what you want to do (Buy fix and flip, buy and hold, wholesale) Define your way forward and take action, do not get hung up in analysis paralysis.

Best of luck to you and happy investing!!!!!

Justin Whitfield · Answer

Use all the resources BiggerPockets has to offer.  If you're wanting to get started in flipping, look through the podcasts for the ones that are mainly about flipping (J Scott on episode 10 is a good start) and also browse the forums every day. There's a forum category dedicated to rehabbing and flipping.

I would strongly recommend picking up a copy of J Scott's books published by BiggerPockets, "The Book on Flipping Houses" and "The Book on Estimating Rehab Costs".

How to Get Started in the House-Flipping Industry

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