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Updated about 7 years ago on . Most recent reply

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Joe Lafata
  • East Islip, NY
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Flipping houses question

Joe Lafata
  • East Islip, NY
Posted
Hey everyone, I am new to bigger pockets and I am very excited to begin my journey! I am specifically interested in flipping houses then eventually use my money to purchase rental properties later on. Anyways, I found some potential flips in my area (long Island) that I plan on analyzing this weekend. I would like to contact the real estate agents for each property, what kind of questions do you suggest I ask? Sorry for the newbie question. Thank you, Joe

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Michael Gessner
  • Pomona, NY
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Michael Gessner
  • Pomona, NY
Replied

Not a whole lot you would need to ask the agent, You need to do your homework on the property, search your own comps, know your costs on the renovation like the back of you hand, and learn the areas your intending on flipping in, ie recent home sales, crime etc. You dont wanna get stuck with a house that wont sell. how are you going to complete the renovation? id suggest you learn as much in the construction end as possible as the prices of foreclosures at least by me, Rockland Westchester Orange are through the roof and not much meat on the bone to justify a flip. From what im learning its all a numbers game, 

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