Flipping and Rehabbing. Also getting the money to get started

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I need advise in getting started with making money in real estate by Flipping and Rehabbing houses in my state and area. I'm lost and need some guidance in getting started with the first steps in the process, to finding the money to fund it, to finding the right house/deal, to finding what to update, to hiring the right people to do the job, to budgeting it all, to rehabbing it and finally selling it and collecting the profit. I would like advise from successful investors. People who are into flipping houses for profit. Thanks!!!!!!!!!

Check out the BiggerPockets book on flipping houses. It answers all those questions and more.

@J Scott isn’t just self promoting here. Or even if he is, I wouldn’t care. His book on flipping houses and estimating rehab costs were the primary drivers in my early education and gave me the confidence to do my first deal. I definitely recommend these books for anyone interested in getting started flipping/rehabbing. Only caveat would be don’t get too fixated on the prices in the estimating rehab cost book. It was written a while ago and will differ greatly by area of the country. But it is fantastic conceptually.

Originally posted by @Benjamin Ervin :

J Scott isn’t just self promoting here. Or even if he is, I wouldn’t care. His book on flipping houses and estimating rehab costs were the primary drivers in my early education and gave me the confidence to do my first deal. I definitely recommend these books for anyone interested in getting started flipping/rehabbing. Only caveat would be don’t get too fixated on the prices in the estimating rehab cost book. It was written a while ago and will differ greatly by area of the country. But it is fantastic conceptually.

Thank you for the kind words, Benjamin...


Regarding the books being written a while ago, that is certainly true.  I'm working on second editions of both books which will hopefully be released by BiggerPockets by the end of the year!

@J Scott , very cool. I will absolutely be on the look out. My wife and I are at a stage now where we are looking to scale and do more. I was actually listening to your podcast episode (#10) this morning while cutting my grass so this has been fitting timing.

Best of luck putting the book together!

@Jordan Champion Hi a Jordan: The first thing you should do is educate yourself, and network. That’s the biggest move anybody could make when just starting out. When you network with agents, wholesalers, lawyers, lenders,contractors and etc you will find the deals, the money, and the people to complete the work. Please connect with me, and feel free to reach out if you have any questions!

Ok thank you. What would you recommend to educate in the art of flipping houses and also how do I connect and network with agents, wholesalers, lawyers, lenders, contractors and etc. I do know a real estate agent but I don't know what to say to her. I also know other real estate investors, so I have the tools just don't know the proper way to use them

The best thing to do to educate yourself is to listen to a ton of podcasts regarding Real Estate investing, and watch a lot of case studies, and Real Estate investing videos on Youtube(Strategic Real Estate Coach, Max Maxwell, Nick Ruiz, Freedom Real Estate investing, Antonio Edwards,  The Derosa group, Master investor 1, Benjamin Blackburn, Clever investor, Mark lane, Jerry Norton, The kwak brothers, Flip Your First House, Kris Khron, Morris Invest, and last but not least Bigger Pockets youtube channel). The best way to network with agents, wholesalers, lawyers, lenders, contractors and etc is to go to Real Estate investing networking events(You can find them on Meetup.com), Get active on Bigger Pockets, and LinkedIN. You can also network with these individuals by calling those " We buy houses cash" signs on the side of the road in your area and let them know you're new to the business, and are looking for investors to work with. Don't be afraid to ask them if they know any great investor friendly realtors, accountants, or even attorneys.  

Another way to do it is contact the realtor in your area who get's a ton load of REO, Foreclosure, Bank-owned, etc properties, and let them know you're looking for a realtor to work with to find great investment properties. They would be happy to hear this, and would love to work with you because they would love to add more clients to their list because that way they can move properties faster, and gain more commission. Once you network with a realtor who's getting a ton load of investor property they will help you find  attorneys, contractors, and etc because they work with/sell properties to investors who are doing tons of deals; so they have access to that investors power team as well you could say.

I also noticed you asked what you should say to a realtor. The thing you should tell them is " Hi I'm (Your name) and I'm a local investor in the area. I'm looking to purchase my first investment property in the next 5 months, and I'm looking for a realtor who is willing to help me achieve this goal! I wanted to know do you work with investors? Do you know what it takes to succeed in this market? And what is the current status of the market? Is it a sellers market or a buyers market?" Ultimately Jordan, you just want to get a good feel for a realtor before you work with them. Also ask them how how many sales they have done in the past 12 months, and if they or their brokerage gets a lot of investment properties.

Also put out some We Buy Houses bandit signs, tons of investors, contractors, and realtors will call you off of that sign alone. 

If possible, find an experienced investor to partner up with who has a lot of knowledge, and access to the capital, lawyers, accountants, realtors, etc. They can be very useful, and could benefit your business tremendously!

What's your main investment strategy?

If you have any questions feel free to PM me man! Thanks

Originally posted by @Jordan Champion :

@J Scott which book should I read first? The Book On Flipping Houses or The Book On Estimating Rehab Cost?

All other things being equal, I'd reading the flipping book first.  The flipping book breaks down the process of flipping into 20 sequential steps, with each step being one of the 20 chapters.  Chapters #12 and #13 focus on creating a Scope of Work and creating a budget, and the Estimating book is essentially a deep dive into both of those chapters.

In fact, when I was originally writing the flipping book, chapters 12 and 13 ended up being over 200 pages by themselves, which is why I pulled them out and turned them into the separate estimating book.