hello…
i have a little money now interested in flipping. problem is im new and do not know where to start.
i live in florida and the market is BOOMING. my objective is to buy a home and sell it quickly for profilt.
were do i begin? is there a database i can access to find homes for low price? i see many site on the www that say “join our membership and find homes valued for 200K the are for sale @ 80k” … is this TRUE???
i need someone (seasoned Vet) to list in order where i should begin. that is what i need .
thank you for you time and i am stoked!
Stingfish,
I am located in one of the top ten places for a second home in the USA. As a realtor, let me advise you to find a good realtor who knows the area you are wanting to invest in.
The web is full of realtors, homes, and “great buys” but, if you don’t know your market area, you can lose a lot of time, money, and your hind end!!
Do the things you know to do, and let the other person do the same.
i have a little money now interested in flipping. problem is im new and do not know where to start.
i live in florida and the market is BOOMING. my objective is to buy a home and sell it quickly for profilt.
were do i begin?
A few questions to answer before getting started;
Do you know what your credit is?
Have you lined up any brokers/lenders for financing?
Are you doing rehab yourself?
Have you found any realtors?
You need to build a support team. Once you have that you will be ready to dive in.
Ditto for Mdhaas. If you are just talking about buying and selling on the appreciation, you are speculating. If you buy, fix-up and sell, you are investing. You need to find a real estate agent that knows how to find you houses that are below retail, not the ones that tell you that the walls are painted a marvelous eggshell mauve.
In hot markets, some agents can get lazy, or just don’t know the craft of making money with real estate. They can make more in commissions with less work by just selling retail to retail. You are going to make them look for deals. They would rather just sell to families.
With the right Realtor, who is working for you, and your interest, if he or she has been around a while, they have established contacts, and access to some of these deals. The problem is, in a fast growing area, there aren’t always a whole lot of “good deals” available, and when they do get on the market, the realtors themselves, or one of their present investors snatch them up right away. Try and find someone who is willing to work for you, not themselves, and stay with them. Give them your confidence your loyalty, and your specifics. Expect the same from them. When a good deal comes along which it will eventually, then take their advice and buy it.
There are also many places you can go to for foreclosures, if you have the right source guide.