I’m getting into flipping houses and want to know the best way to learn the market and any advice on how to get started.

Originally posted by @Patrick De Los Santos :

I’m getting into flipping houses and want to know the best way to learn the market and any advice on how to get started.

First thing is to learn the language of real estate and all of the ways to structure and finance deals. Next study the properties on the MLS in your area. You can find them through Realtor.com and Zillow as well as talking with Realtors that work with investors. Look for how many houses are on the market and how long, how many are under contract and how long they have been on the market and sold properties in the last 1,3,6,12 months, how long they were on the market and how much they sold for list price to sale price. Start tracking trends and values. Next step is drilling down on repair and renovation costs.You can get this info from other investors, contractors and venders. Look for properties being flipped, find out who is doing the work and offer to buy them lunch so you can learn from them.

@Greg Dickerson

Thank you, I’ll get on this right away. Appreciate it.

@Patrick De Los Santos   You should talk to a lender to learn about financing.