What is the first step? What's the best way to find houses without a real estate license? My husband and I would like to get into house flipping but would like to do some wholesaling to build up reserves to buy our first flipper. Thanks for any tips!
Driving for Dollars is a great way to start finding off market deals. I wrote a nice short ebook on the subject.
You can go one of two ways. You can either find buyers by networking and asking them what they want and then look for houses fitting that criteria or you can put up signs and hangers and other marketing pieces and wait for the calls. I am doing the first it makes more sense when you are first starting out. Then you get the seller under contract at at least 65% below ARV. After its under contract add on your assignment fee and market it as much as possible. Then wait for the buyer. Then put them under contract and an assignment document. Then everything goes to a title company. They clear it then the buyer and seller sign off and you get paid. Its that simple. Mind you I say simple not easy.
If you have money to invest, which it sounds like you do if you want to do a flip, then I would invest in Yellow Letters to absentee owners. It's the quickest way to start generating calls, and it is highly targeted approach. You can narrow it down to the farm area you want to buy in.
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