Vacaville, CA · Member since 2017 · 9 posts · 0 votes
Anybody who read this please help me out on this. I’m trying to get myself started but I’m so blind and I don’t have that much money to afford a coaching program that everybody is selling nowadays. I have been to some training events but they any teach me how to do rehabbing. Pleass anyone, any investors who have done this, send me an email if you would like to help a dreamer like myself, I am dying to do this. I just wanted to learn from you, see how you do it.
Contractor · Woodcliff Lk, NJ · Member since 2017 · 108 posts · 26 votes
8y
Hi Khanittha
Start small VERY SMALLlook for a flip that needs minor work. Like sanding the wood floors, painting the home, refinishing the kitchen cabinets and new counter tops. Installing new bath fixtures. Installing new doors. Keep it very simple, very simple.
Get the feel of your contractors, and the timing on how the work is completed. Start small and profit 7K to 15K on your first home. The next home try replacing a bathroom and so on...
Contractor · Woodcliff Lk, NJ · Member since 2017 · 108 posts · 26 votes
8y
Hi Khanittha
Start small VERY SMALLlook for a flip that needs minor work. Like sanding the wood floors, painting the home, refinishing the kitchen cabinets and new counter tops. Installing new bath fixtures. Installing new doors. Keep it very simple, very simple.
Get the feel of your contractors, and the timing on how the work is completed. Start small and profit 7K to 15K on your first home. The next home try replacing a bathroom and so on...
Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
I’d see if you can find someone you can partner with. Someone who has done this before and will take some of your sweat equity and give you knowledge in return.
Flipping is not very forgiving, it’s easily to get in over your head quickly either by buying the wrong house and/or having contractor issues. There’s just too much to go wrong if you don’t have any background.
The other option is to read read read read and read some more... that will get you a lot of knowledge, but not nearly as much as actually doing it.
Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes
8y
Be very careful about what you buy. For example, the older the house the greater the potential for unexpected issues. Case in point - a bathroom remodel we did last year in a 1930’s house went from a basic gut/remodel to involving new subfloor, wall studs, upgraded wiring, etc.
Investor · Melbourne, Victoria · Member since 2017 · 25 posts · 13 votes
8y
You could house hack a flip. You live in the house and as a result can keep an eye on the work being done and if you want you can do some of it yourself such as painting. It's a real eye opener and you get a place to live and something that if done right will make you money. It's also helpful if the contractors fall behind or run into problems along the way.