Rehab, Flipping for 22 yo in Vancouver, BC

[Kristoffer Roxas]

I'm a noob to real estate. My mentor in LA told me to look for people who flip properties in Vancouver. Any advice on getting started? Anything helps. I'm still not sure what the process is to find and flip properties. I'm basically at the level where it's like, "Oh hey a cheap, run-down building! I could make it nice and sell it for more!" Is there more to it? And how would I wholesale houses instead? Blessings, Kris

[Ben Wendt]

Hi Kris, being new to the game myself I HIGHLY recommend the book that J Scott wrote for BiggerPockets. It is a very thorough and methodical approach to fix and flips, and I consider it the finest resource on the process that I've seen on the internet or in a bookstore. Spend the $30 and get it!

But to actually answer your question, you will first want to establish how you will find your deals. Today's market is pretty good (FHA rates are great, there's still a high number of foreclosures on markets, etc.). In my market, I have a Real Estate agent team that has put filters on the MLS system and sends them directly to me. Other methods involve "driving for dollars" (search BiggerPockets for this term), finding a Real Estate Investment (REI) group local to Vancouver to network with, or doing your own advertising. I recommend starting with the MLS first, since it will give you an idea of houses in the area.