How to get started in flipping? Find the deal?

Question

Hi everyone!!

I am new to the real estate investing. I am fascinated about the wealth that real estate can come with. I feel lucky as I have an investor who would like to invest in me so I feel like my financing issue will be covered however I feel clueless where to start. Where do people who first started flipping homes look for their lead? And when you do find a home what are you looking for? There’s so much out there than it can be overwhelming on where to begin. I also get discouraged as I feel like there is no room for me to compete in Arizona. Please any advice on how to get started would be appreciated or any tips would be great. Thank you!

Greg Dickerson · Answer

Since you have a license you can study the MLS and look at what properties are selling and why. Look for the properties that are being flipped and go look at them. Attend investor meetups in your area and network. They will share info and help you learn the ropes.

Vicky Luu · Answer

@Greg Dickerson

I am a new realtor myself. I actually got my

License as I thought I could potentially buy and sell myself. Do you still advise reaching out to other relators? Also how willing would you say other investors are willing to share information/ help if you and that investor are competing in the same area market?

Greg Dickerson · Answer

You can study properties on Zillow, talk to realtors in your area about your plans and ask them where the hot spots are, where the flippers are active and what is selling. You can also network with other investors and find out what they are doing and where.

Vicky Luu · Answer

@John Webster I am new to bigger pocket. How do I dm you. ? Lol

Vicky Luu · Answer

@Greg Dickerson Hi thank you!

How do I learn about the real values within properties? Or what to do with them once I find it? Especially for me starting out and haven’t seen much properties to know.

Greg Dickerson · Answer

If you want to flip properties and not wholesale you can buy from wholesalers and off the MLS. The real key is knowing values and what to do to the properties when you find them.