i would like to know how to start your own business by fliping houses and re selling them. what comes first?

Question

i know reasearch comes first but then what. is there programs out there to help people do something like this

Answer 1

You will probably learn more by actually DOING it. Find a house you can purchase at a good price. Have your work crew ready to do what you need to do (paint, repair, remove, haul off....).
The FIRST thing I would do would be to hire a structural inspector to do the inspection of the foundation and roof. If these need repairs, you are looking at
$8000 for a new roof and $10,000 to repair/lift/level the foundation. Do you have $18,000 to pay them? Also, termite
inspectors charge $1500 to spray and eliminate. Do you have this extra $1500 lieing around? Otherwise you will have to find a low price existing home that does not need any repairs if you want to make money. ............Why don't you try building a
small new house and then try to sell it for a profit? With this, you are all set with no unexpected repairs the buyer will want you to pay.. Hope this helps

Answer 2

There are some programs, but they don't really do much except convince you to buy their books, which also don't help much.

Here's what you need to do this:

Risk Capital (money you can afford to lose) sufficient to get control of property. You can't flip until you either own or have the legal right to own, as in a contract to buy at a specific price, whether it's Assignable or not.

Basic legal knowledge of Contracts: What makes a contract enforceable, how do I make it Assignable.

Good working knowledge of the Market: This is where a lot of risk lies. You need to know what the property will bring in a short period of time, and you need to know where and how to find your Buyer. This is THE major hurdle, and the one that the programs simply cannot give you, in part because each property is unique, and in part because it can change overnight. If you haven't been heavily involved in real estate in your area, consider finding a partner for this who has been.

A firm grip on Reality: You will lose money on some deals. If you aren't willing to recognize that what you thought was worth 100 is only worth 75 and cut your losses and move on, you're going to get really hurt, because while you wait for it to be worth 100, you're going to rack up costs that cause you to lose money at 100. This also can be a major hurdle.