Flipping - is it possible for a part timer newbie?

[Damon J.]

When analyzing flipping properties in the Atlanta, Ga area I generally have a couple of concerns that hold me back and wondering what others have experienced.

Roadblocks

1) Transaction Costs eat away at profit. I do not have my own RE license and the commissions would seem to eat up profits quickly
2) No insider info in finding property. I can analyze and review listed REO's like the next guy so will I really be able to get a great deal on the front end? Am I looking in the wrong direction?
3) Don't have an established team to do a full rehab. I have completed partial rehabs in the past but have used several different contractors and have not found a reliable resource. Assume this will come through trial and error.
4) Is flipping possible in a declining market?

Appreciate any/all of your thoughts.

[Joel Owens]

Let's just be clear on one thing.The broker/agent is not the reason a flip is successful or not.

The purchaser makes the decision on what they pay for a property.They have a right to an inspection and they pay cash or line up financing.

I always love it when I hear an investor is trying to get the broker/agent to take a cut for a mistake the INVESTOR made on purchasing or cost to rehab.

A deal is a deal and no matter who you pay if the numbers work then you do it.

Someone agreeing to 1% has to be a broker because with a brokerage split they would almost be working for free.

My philosophy is make more and work less.Just like an investor my time is valuable in a deal.Broker/agents make sure to look at your ROI to when brokering deals.We are not the RED CROSS a non for profit..... :)