Can somebody leave an email to help me out w/ what steps i need for getting into certain parts of real estate?

Question

I wish to get into mainly flipping houses....i dont know if i should get my liscence or not, if i should take classes and how i should start or where and how i start. I have been very interested but want to take the right precautions, and dont want to get myself into any trouble. If there are any out there with exp. and wish to help please let me know leave your email and i will email back....>THANKS!

Answer 1

Contact me. You don't really expect anyone to teach you to invest in a single post here do you?

Edit:
The above poster is sort of correct. flipping is not easily accomplished right now, but the market is ripe for other strategies. It's actually so good right now if you know what you are doing that you can make a great income and truly help people in a bad situation.

An no offense, but don't listen to REALTORs on investing advice. they know nothing!

Answer 2

You can email me if you want, but as a Realtor, I can tell you that most of my flippers are sitting out right now. With the popularity of the flipping shows on TV, it is driving up prices of prospective properties. It saddens me how many abandoned flips have been foreclosed by the bank and are now languishing on the market. Someone went in with great intentions, but bit off more than they could chew, and couldn't flip a house in a few weeks, or a few months, and get it sold, then the bank foreclosed. Flipping can be very costly on your time and your money, it can ruin you in a hurry if you don't know what you are getting into.

It is not a good time to enter the flipping market. I know this isn't what you wanted to hear, but that is the best advice you are going to receive.

Answer 3

Just remember, this is a site that offers free advice / opinion, regardless of an individuals knowledge, skills, competence or experience, so take any advice posted here, including mine, with a grain of salt. I have read far too many posts on this site and can not believe the inaccuracies being posted here as fact.

If I wanted to be a doctor, I don't think I'd go to the AMA's web site and ask how. There is a tremendous amount of learning that needs to be accomplished...reading, researching, surfing the net for books, articles, etc. Jump in without the necessary skills and cash reserves and some other investor will be buying your property after you're foreclosed on. I'm not knocking any of the previous posts, but as an investor who lost considerable money in my early years, I can tell you it's easier to gain knowledge up front and enjoy the fruits of your labors later.

Answer 4

Flipping is good as well as other methods of earning a living in the real estate market. You may still do it, but currently the hold time is a bit longer so you have to add that into your equation and measure your profit margin.

You have to be especially careful in this market. I am still in the market and having success.

Being in any investment field there are ups and downs. If the stock market goes down, you don't hear a lot of the investors hollaring about getting out of the market, they just become more savvy investors. That is what you have to do in the flipping market become more savvy.

It is always a good idea to flip when you know what you are doing. In this regards you would normally select an area of your choice that is good for you to work and close to where you reside.

I would suggest that you go to your local book store and purchase a couple of books on foreclosures, distressed properties, and buying, rehabbing and flipping. You might also find several other books that you would like to purchase. You might also find a few listed in your public library.

You might also purchase one of the TV guru's programs. In the program you will find several things of interest. You will find script to use on potential individuals that you would want to purchase their house. A slew of legal forms that you can use as well as a formula that will tell you if the property you are purchasing is gonna give you a profit or not and how to use the formula.

Their package will also tell you things you should look out for in your purchase as well as things to that you should beware of.

You should form yourself a professional team to assist you in your newly found career. This is a partial list that you might start with an attorney, real estate agent, a mortgage broker, a home insurance agent, a notary public, a title rep as well as an escrow closing agent. You might want to add or take away depending on how you feel.

You will also need to develop away to market yourself so you can have an unlimited amount of properties to buy and sell even in a slow market. I will list a couple of ways to accomplish this.

#1 Advertise in the local newspaper that you purchase foreclosures and other distressed properties.

#2 Purchase a foreclosure list from a list broker (Do a mailing campaign like everyone else)(You might also cold call off this list but you must beware of the no-call list)

#3 Select an area in your city to devote full time work in. Walk the area for about 2-3 weeks telling the folks outside their homes what you do pass out flyers out ling that you buy foreclosures and distressed properties as well as probates.

After 3-4 weeks of walking in the neighborhood, contact your title rep and ask for a farm package of the names of the people in your farm area. Now each month mail a newsletter to the names on your farm list.

This method should give you 1-2 houses per month to buy and flip, word of mouth will give you another 1-2.

That will keep you busy with enough to do and earn. You can always expand and you will as you learn more about your trade.

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

"FIGHT ON"