Learning about flipping houses

5 Replies

@Carlos Gobert The book on flipping houses by J Scott. The Book on estimating Rehab Costs by J Scott. 

Pretty much all of the bigger pockets podcast are a great way to learn from. Check out the webinars and blogs on this site as well. Tons of great info. 

BP publishes a book on estimating repair costs. This is absolutely essential because it gives you a pretty comprehensive list of all the things you might need to replace when you're doing a flip and how to estimate the cost. It might be a little dated now, but you should look up prices in your own area anyway because labor rates can really vary. 

I agree with both Bonnie and Dylan! I am currently working my way through "Estimating Rehab Costs" by J. Scott and it really is eye opening to read from the perspective of no prior experience in rehab. Hope this helps!

Originally posted by @Carlos Gobert :

What is a good book that I can read about flipping houses, and understanding how the market works in real estate? Throw in some podcasts that I can listen to as well.

You can also learn a lot by attending REI meetups and Facebook groups in your area, talking to realtors that work with investors, studying your market and houses that are being renovated by investors etc.

@Carlos Gobert , yes books and podcasts can help build a great basic understanding, but to really know the business there is no substitute for knowing the players you will be dealing with. If you can, look for meetups, REIA groups, facebook groups, etc. Realtors and lenders can be great tools as well, not only for their experiences in their fields, but they will often know the players too: other flippers, contractors, people looking to get into the business like you, etc.

And the best part about meeting people in real life is you can ask follow-up questions, which a book or podcast cannot answer for you.