How Do You Get Into Fliping House's?

Question

I want to know how to get into flipin houses with no money or credit.

Answer 1

First of all if you are listening to the TV guru's abvout buying and flipping properties well a little fantasy exist there.

One of the first things you need to do in get yourself eduated in your new career field that you want to get into. Go to the nearest book store and buy a book on buying, fixing and flipping properties as well as any other book on the buying of distressed and foreclosed properties. You might also find a few of these books at your local library.

Now back to those TV gurus that are on TV I recommend that you purchase one of these programs. These programs will give you scripts to use on your potential clients. These programs will also have legal forms you can use in writing contract for your purchases.

You will also get a formula that will tell you if the deal you are about to write will earn you money.

With both the books and TV guru's program this should be enough to get you on the road to success.

Now you have a couple of other things to worry about and those are getting investors to assist you with your purchases and marketing yourself so people will know that you are in the business of buying distressed property.

Marketing

#1 You may buy a list of pre-foreclosed properties (sort of expensive)

#2 Advertise in the local paper that you buy distressed properties

#3 Direct mail to individuals stating that you are in business buying distressed properties as well as foreclosures. You may use flyers or post cards.

#4 You can go to the county court house in your area and compile your own list from the foreclosed properties.

#5 Work a certain area in the city in which you reside. Pass out flyers each Saturday, getting to know the people in your area. You will need to do this at least once a month or mail the flyers or newsletter that you can make up. Select about 5000 to 10000 houses. Get the names of those in your area you want to work from a title company (Look in your local telephone book. Make youself a data base of these names to use over and over.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

You need money and credit, loans have to be payed back, no matter if you finish the house on time, it has to sell meaning you have to pay a morgage every month until your house sells or it goes into foreclosure and you are bankrupt. You need experience in construction or be handy, especially in old houses, mold is a major pain in the *** and it cost money.

Have a partner go into business with you and start small, two bed, one bath, yard. Add a room and bath and update kitchen, your in business.

Answer 3

it would be very difficult to do w/o money or credit. It's not as easy as the shows on TV. Your best bet may be to find someone with money and credit to partner with, they finance it and you do the dirty work.

Answer 4

You can't. You have been watching too many investment infomercials. Sorry.