Realtor transitioning into house flipper

[James Mercure]

Hi, I am a realtor in NYC for over 13 years. What is the best way to start getting into house flipping and eventually attaining some rental properties for investment? Since prices are a high in NY, do you think that NJ, MA, and MI are worth investing for starters like me?

[Kate Ziegler]

@James Mercure: To add to @Charlie MacPherson's good notes re: flips (avoid Boston proper unless you're buy and hold right now), be sure to look closely at your fair housing requirements as an agent versus a landlord when you get into rental investments. Specifically, for me as an investor, if I were NOT licensed there are some smaller multis (2-3 units, the most common type we've got) that have exemptions for protected classes in certain cases, but as an agent you waive all exemptions.

Obviously this isn't a big concern, but I've seen it trip people up and it's a hassle if you forget.

Good luck!