How could i start a house flipping company. How would that go? Any Advice?
2007-03-04 14:37:11 · 8 answers · asked by unknown 1 in Business & Finance ➔ Renting & Real Estate
It's a high risk business but you can make a lot of money doing it. I would suggest starting out by getting a copy of Flipping Houses For Dummies from your library or for about $15 at amazon.com (or any similar book -- there are many of them out there). It has lots of good, practical advice and many of the pitfalls.
How you do the business depends on how much of the work you can do yourself, how much money (or credit) you have available, how knowledgeable you are about the real estate market and remodeling costs, and so on and so on.
Be careful with the real estate courses you see advertised on TV and on the Internet -- the business is not as simple as they would have you believe. Also, some markets are better than others, that's why its important to understand your local market or to have an advisor that knows it well.
2007-03-04 16:30:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Geez I don't know but I wanna do the same thig eventually. Fun and profit. It will be lot of work but very rewarding. I would look it up on the internet. I hear you can take a few week course somewhere in lower PA but I forgot the details. You could do a little investigating maybe read some others expiriences on how they started. I would think you would have to have a lump of $ to start off. Good Luck! ;) JB
2007-03-04 14:42:27 · answer #2 · answered by ? 3 · 0⤊ 0⤋
First, I would get some experience under my belt. Start flipping homes with someone who knows what they are doing. Maybe partner with them. You have to have money to do this. Then once you gain knowledge, then you can branch off on your own. You also need to be able to get a network of people such as contractors, landscapers, roofers, etc. if you want to hire people to do the work for you instead of you doing it yourself. You want to be able to trust the people you hire, and be able to rely on them to come in every day to get the work done. You can find out who the good companies are while you are parterning with someone. Watch A&E television, they have several shows where they flip homes on Saturday and Sundays...have fun and good luck!!
2007-03-04 14:46:40 · answer #3 · answered by atlantagal 5 · 0⤊ 0⤋
If you haven't watched "Flip This House" or 'Property Ladder," they are two great series that show how to succeed or fail in the "flipping" business. Although I don't recommend basing your business decisions on television shows, you could probably get a lot of great ideas and tips from them. Here are their web sites:
"Flip This House" on A&E:
http://www.aetv.com/flipthishouse/
Property Ladder on TLC: http://tlc.discovery.com/fansites/propertyladder/about.html
2007-03-04 17:25:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Start researching remodeling companies. You will need to know all there is about the real estate business as well. Talk to realtors, mortgage companies, research research research..
2007-03-04 14:41:39 · answer #5 · answered by St.Jeb 4 · 0⤊ 0⤋
If you don,t know what your doing get somebody that does you could make a lot money I wish you all the luch in world
2007-03-04 18:53:55 · answer #6 · answered by pattibcacl 6 · 0⤊ 0⤋
They have people doing that on the cable channels.
They seem to have a bunch of experience and extra cash.
Got cash?
2007-03-04 14:41:14 · answer #7 · answered by 1090 4 · 0⤊ 1⤋
u need money and contacts of contractors that will show up.
2007-03-04 14:44:06 · answer #8 · answered by zocko 5 · 0⤊ 0⤋