House flipping ?'s

Ok iam wanting to get into real estate but iam only 17 and i know i have to be 18 in orer to own property and ect…

But iam interested in the house flipping. But i have a few ?'s about it…

Who has a good book or ect about it?

Is it easy as it seems?

How do you find out the apprasied value of a property?

don’t really have good book suggestions but stay at it it’s great to see someone so young trying to do this. You can still possibly bird dog meaning find a great deal for someone and get a finders fee. You just can’t get into the actual contract but you can put the buyer and the seller in touch with one another until you get 18. Sometimes they have seminars if you watch some infomercials attend a few seminars. Don’t give up Try and find local investors in your area maybe they can show you the ropes.

Good luck and God bless

Remember stay in school. Also go to college, even if it just for two years or at a community college. Education is gold, never put it off or you will regret it later. Also don’t follow the crowd, just because a bunch of dumb people are buying overpriced condos in the Florida swamps, doesn’t mean you should too.

I think it is great that you are wanting to get into realsate investing so young. i am 23 and have wanted to do this since I was about 18 but did not know haw to get started and did not know anything about bird dogging so I thought there was no way I could do it. So I went to college and tried to start saving my money to start but was not able to ever save enough money. I started reading a couple of books and watching some infomercials and finally said I am going to this if it kills me. I just started a couple of months ago and I am still struggling to get started. But I learn more about it every day.

My advice to you is start doing research in your area. Just start going to some open houses and looking in the newspaper, find out what the market is like in your area. Try to join a realstate group in your area and just start reading as many books as you can get your hands on. I would start with bird dogging or jobbing. When things start to go good for you I would start looking for a realstate course/seminar that intrest you. Treat this like a career that you need education to do with the courses and mentors.

Good luck

Don’t listen to Dan. I can’t tell if he’s being mean and spiteful, or if he’s just ignorant. But it’s really easy to do. In fact if you promise your mom or dad $1000 check, you think they’d help you do your first deal?

Take care,

… Christopher

Some people on here don’t like the truth. They want you to buy all the stupid books they sell, want you buy their overpriced “investments”. They want your money. I don’t want you money. I could care less. But going to school and furthering your education is not a “bad” thing to do! Neither is saving up money! And yes you can do both. So be very warry of people who say the best thing for you to do is run up huge debts and borrow cash from mom and pa.


In your first message in this thread, you say:

Wait until you have a job, some income, and the credit to get a loan, by then Real Estate will be bust and you will waiting to get in the "next big thing"

This is your idea of the “truth”? Scaring off someone who wants to start young, start fresh - make a life for himself?

Get real.

I’ve never risked credit. I’ve never had a job out of college. I work for myself.

… Christopher

How was that scarring anyone off? Is that how the American Dream works these days? Run up big huge mortgages on properties hoping that your tenets will pay you and if some don’t hoping you can keep the bank at bay so you don’t go under? Sounds like the dream some are trying to push.

I don’t have tenANTs (or tenets for that matter, Dave) and I don’t have mortgages. Yet, I am still successful.

You begin a rant about the perils of wholesale. Then you attack renting, which has nothing to do with flipping or wholesale.

It is obvious that you have not explored 80% of real estate techniques - only the two or three you read in “Rich Dad, Poor Dad”.

Let me know when you read another book or two.

Take care,

… Christopher

Quote: “Wait until you have a job, some income and the credit to get a loan, by then Real Estate will be bust and you will waiting to get in the next big thing”.
OK Dan, I have a job and some income but not as much income as I would like and I don’t have any savings(living paycheck to paycheck),and what if I don’t have great credit (which I don’t). Does this mean that I DON’T have a snowballs chance in H$$L of ever being able to get into REI and be able to earn the wealth that I want for me and my family ? From what I’ve been reading in the forums on this website there are alot of people in the same boat as I, and they want to get out of the RUTT that they are in just like me.
Does anyone else have a comment on this, should I push foward with my dreams or just give it up ? I’m very new at this and yes I’m a little nervous about getting started, BUT I see alot of people giving encouragement to push people like me to make that first leap. Thanks Everybody, just reading the threads and replies is getting me excited. :smiley:

Hey Dan, sorry your real estate investing is not working out for you. I believe education is one of the best things you can invest in, whether it is through school or through books and seminars. Maybe you should educate yourself in the real estate business some more if you think it is all swamps and tenants. Have you seen how much it costs for a college course and books lately? Are they a scam too???

I believe you have to educate yourself as much as you can in what ever area you are passionate about. :smiley:

Hey Penpro,

When have I ever said that a college education was a scam? When? Can you point that out to me? Please?

Actually I have said that college education is the best thing a person can invest into themselves. It will pay itself off in the long run. Hey even Donald Trump is college educated. So telling a kid that the best thing for him to grab mommy’s and daddy’s credit card and go buy properties is not the best advice either. Besides once he gets through college he would be looking at a different Real Estate market. Maybe for the better or worse depending on who got burned.

Hey Mcjim,

The one thing cool about Real Estate, is that it is generally local. Take a look outside in your neighborhood and neighboring areas. Research homes values, call realtors, call banks, ask around. Is the market hot? Warm? Cool? Do research into how you want to go into Real Estate. Look at rents in your area and vacancy rates. Are rents in par with cost to own or are they like 1/5 of what it would cost to own? Because if renting is a bargain, than owning would not.

Remember you want to “invest” into real estate not “gamble”. I have never considered appreciation a factor into any deal that I have ever made. Previous gains may never equal future results.

Is a day trader an investor or gambler? (one who buys stocks early in the trading day and then sells them at the end in hopes of gains)

I never said you said “college education was a scam.” I asked you if education is so great why does it matter if it is with a college or with books and seminars? They both are expensive and neither gaurentee you money at the end of your education. The profits depend on your work and dedication to your chosen profession. How many people get a four year college education in one area and have to get a job in a totally different area because the job market has changed? Everything is always changing and the people who flurish are the ones who are able to adapt with the changes. I’m not saying college is bad I’m saying education is education whether it is through college or some other form of learning. :-\

Sorry you totally mistook what I was trying to convey in my last post. ::slight_smile:

No, but you seem to believe that credit is the only way to buy a house. Which leads me to believe that (b) you are not good at Real Estate.

Jeez, learn to read college-boy.

Take care,

… Christopher

Good colleges never promise you a succesfull career upon leaving. They don’t say go to our school and we will guarantee* you would make millions! Yes it all depends on what you put into it, that is with almost anything, except gambling.

So now I can’t read either? I never said credit is the only way to buy homes, it just seems to be the most used way. I am not good at Real Estate because I don’t drink your kool-aid?

Had to modify because I spelled good wrong so i fixed it for Mr. Grammer and Spelling Captain (self appointed of course)

College is great… you are forced to learn day by day & get the benefit of the teacher’s experience.

It’s harder for most people to learn on their own, through books, because you have to force yourself to read, do the homework, take the tests every day.

Seminars are a waste unless you already have a good foundation. It’s simply too much information compressed into 1, 2 or 3 days. Many new Real Estate students leave seminars only remembering the last hour of what was taught.

What I really find useful is seminars-on-CD with an accompanying workbook. I listen to the seminar in the car, then listen to it again with the workbook in front of me. And then listen a 3rd or 4th time as a “refresher”, a month or two later.

Hope this helps. :wink:

Take care,

… Christopher