I need step by step info for buying and flipping houses around NYC and LI area?

Question

The best way to find them,bidding tips,inspection issues,getting the best mortgage,or any other helpful tips that will save me time and money,thank you.

I know you need to go to the county office and get the list and then what?I need somebody knowledgeable to guide.This is for the first 4 people "we are not even on the same page".I need to get some sense of it that is all.

Answer 1

I would reccommend that you join some real estate investing groups through yahoo. There plenty of them out there. What I do is purchase properties that I locate and I also post messages looking for wholesale properties on these groups. If you are purchasing these properties and are going to be in them for 70% ltv or less then hard money may be the way for you to go. Hard money is expensive but it is quick and very useful. I would reccommend that start by asking for properties, ask for home inspectors, and contractors to perform your rehab on these yahoo groups. These groups can help you more than you can help yourself when first starting out in the real estate investing business.

Answer 2

There is no "step by step" gide to flipping homes. Each property is unique. Unless you know what you're doing, find another way to make money. You'll lose your shirt otherwise.

You don't go to any county office and get any kind of list. Very basically it goes like this:

1. Buy the house.
2. Fix it up.
3. Sell the house.

If the amount of money you spend on 1 + 2 is less than you get from step 3, you make money. If not, you lose money.

If you can't do #2 mostly by yourself, forget the whole idea.

Answer 3

You need to take a course at college for all the answers to your questions. Nobody is going to be able to distill all that information into a pat Yahoo answers answer.

Answer 4

BOP's would be a start (bank owned properties)

Answer 5

try robert allen
worked for me