I am 22 and brand new to real estate and am interested in learning the in an outs of flipping houses. If anyone has any information on the best way to get started that would be great. Such as would it be better to start small with a condo/aprtment type place? I know a lot of it depends on location. But ya anything people could contribute would be much appreciated. Thank you!
Welcome. Click on the "Learn" button at the top and purchase "The Book on Flipping Houses" and "The Book on Estimating Rehab Costs." These books are a great start if you haven't read them already.
In my opinion, I would go for a SFR vice an apartment or condo. Watch out for condo HOA fees. Just another holding cost.
You need to look at your market and see what is going to sell the quickest after rehab (i.e. what's in demand).
Also, listen to the podcasts. While you work out, drive to work, are bored at the house, etc. I recommend you listen to them and you will be blown away by how good the advice is. The guy who wrote the above mentioned books, J Scott, was on at least two of them and he has great advice. They talk about how they do what they do, what they will and won't do, and how to finance everything. They also go over some basics like the "70% rule" and which things to look for and avoid. I guarantee you will learn a ton of info from the podcasts and you'll have a fun time doing it.
William Murrell, Murrell Properties | 910‑777‑7175 | http://www.murrellproperties.com
I would like to start by thanking all of you for making me feel welcomed, and for such great suggestions. I have already begun to download some podcast and am extremely excited to learn. Thank you all again, and best of luck!
I'd start by trying to find a great online forum that had tens of thousands of articles, blog posts, forum posts, experienced investors, etc, and reading everything I could!
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