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Videos Mentioned:
Hard Money Lenders Explained – How To Properly Find & Utilize Them
How I Get 100% FINANCING On ALL My Real Estate Deals
How To Estimate House Flip Repair Costs | PRO SECRETS
USE THESE IN YOUR REAL ESTATE INVESTMENTS…
The first step to flipping a house is to pick a market! The first step to picking a market is to look at the population. Ideally, you want to be in a market with over 500,000 people. You also want to look at prices. You probably don’t want to pick an expensive market when you are first starting out! Next, take a look at inventory level. Finally, take a look at proximity.
The second thing you want to do is build out your team. You need a real estate agent, a title company, a lender, and a contractor. I talk about ways to find a realtor in this video! As far as a title company goes, pick a title company that is wholesaler friendly. For contractors, you want to find someone who is willing to work with investors. For your lender, check out these videos below.
After you do all of that, you are going to want to learn how to evaluate deals. HGTV might make it seem a lot easier than it is, but learning how to find good deals will be the lifeline to your house flipping business.
After you learned how to evaluate deals, it’s time to go create some deals! The three main ways to get deals are the MLS, wholesalers, and direct to seller marketing. I talk about how to find deals with all three of these methods.
Once you’ve found a deal, now it’s time to buy it! This is where your title company and lender come into play.
Then step six is the renovation! This is where the contractor subs in. Finally, your realtor comes in and sells the house!
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