How Do I Begin Flipping Houses?

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[jcrowley]

To answer the question in the title, try working on your upper body strength.

[morganbarber]

I understand not wanting to be in debt but there are many options a person can take to cover themselves and their personal finances to start flipping homes. People are saying he isn’t in the position to flip a house because he only makes $30k a year...so what he’s supposed to wait on a six figure salary before he ventures off to start making money? His low salary is probably the main reason he wants to flip a house for profit. Dave has great advice and his advice is geared towards people who have already made it, people who don’t need credit, people who are established. We can all get out of debt by eating rice and beans for several months or years but to actually get out of the rat race you def have to have a plan or else you will just spend the rest of your life saving for retirement and I personally don’t want to be 60 or 65 before I get off the wheel.

[missJazzitup]

T.v. shows about flipping houses are suppose to be entertainment not educational. Don't try to copy them.

[kermit]

He needs to focus on getting his income up before thinking about flipping houses. 30k combined? He'd be better off starting his own business.

[bituser]

I thought the caller said $3k per year too lol!

[walleye]

MY problem with trying to flip a house was that when I found out about a foreclosure and had a realtor show me the house. They would call back and said it was sold to so and so...Well It didn't take me long to figure out there were some shady deals going on where a couple realtors were in kahoots. They were scouring the low ball properties for their own side business.

[Vera-dghf]

If flipping houses was easy, everyone would be doing that. Plus, it’s a smart business because most flippers do a very bad job with homes. Tons of issues at inspection, structural cover ups, and all types of nightmares. It’s a nasty business.

[MrHavk]

Didn't know Dave wholesaled houses before. Fascinating....

[firesign]

HE might wanna look into being a...Contractor! 👍👍

[michaelwoods]

What the guy wants isn't flipping, it's rehabbing. I know a guy who does well at it now that he found really good contractors for each improvement at good prices. You need an eye for which properties offer an opportunity for high-value but low-cost improvements.

[ToniEvanu]

So basically he told him to do wholesaling right?

[adammcgirt]

Ppl mess up flipping houses when they find a 100 grand house, pay 85k for it and then wanna put 50k in it. Trying to make it the best on the block

[RandalColling]

Everyone watches TV and thinks "flipping houses" is winning the It's TV people!!!! NOT REAL. Flipping houses isn't so easy.

[ivarlosna]

Having experience from construction, especially if it is the right kind of jobs, he should be looking at buying trash houses that are about to fall apart and fix them while living in them for a year. Sell, rinse and repeat.

[secretsquirrel]

I listen to hia show sometimes and people call in about house flipping. And geeze. If you have to
I paid cash for my 1st house and lived in it for 4 years while i fixed it up and thats how I did it.

[tajfaraj]

this is how I'm beginning, I'm not going to collage, I'm gonna take carpenter classes, pass them, then work and a job between 30- 40 grand a year, and I will live with my parents for 5 extra to years and I'll save every penny and at the end I will have 150-200 grand, and thats how I'll get started

[omaxman]

my first flip took 1 year to sell in 2013... man, I was glad I didn't have payments on it

[johnathonnehls]

He should try getting properties at the county tax lien sale or the state sales. Great way to get properties on a chance or get your investment back if the owner redeems.

[danielc]

Get a purchase agreement with motivated seller for 0 down deposit with a closing date of 30 days which is possible. Now you have a month to find an investor with the cash. Sell the contract to the actual buyer for an “assignment fee” on an another contract between you and buyer. File everything to a title company and they will clear title, work the transaction, get the money wired from buyer and disburse the funds to the seller like you agreed with him, they will also disburse the “assignment fee” to you in the amount agreed by you and buyer.

[eduardorodriguez]

Buy a home in a good location close to schools shopping and highways rent it out and find an investor who you can do remodels for that way youre building your cash and learning the ropes until you're ready to go on your own.