i am interested in flipping houses and at the same time looking for rental properties. Any advice??
Yes, put your coat on and start knocking on doors.
And read all you can on the subject.
Today your a deal finder - ten years from now you’ll be a millionaire and don’t forget when someone asks you “Buddy can you spare a dime, to stop and give him a $20 dollar bill”.
I can tell you i starte flipping houses a little over two years ago. When i made any money on a flip i used it to purchase a rental property. Now sometimes it takes a few flips to purchase a property but essentially you are using someone elses money to buy your future. Its quick, its easy, and you can own many many houses in a few months. And for REI Hustler i completely agree with giving back, excellent post.
You may want to define flipping. Is it buy it wait for the price to rise and then sell for a higher price, or are you taking about buy fix up and sell?
i buy houses that essentially need paint and carpet. Repaint the interior, replace the carpet or put down laminate and sell within the next 2 weeks. I dont hold onto the house and try to make retail. Instead of waiting i would rather sell at a lower price and get my money, buy another house and have the cash working for me.
Not you dsandlin I am asking dwnp what he means by flipping.
thank you for all the helpfull advice guys.
I am actually looking to buy fix and flip if I think that the property will not produce any cashflow as a rental.
If the numbers add up, then i will plan to use the property as a rental.
how do you go about in doing seller financing? any suggestions?