Estate Flipping

Estate Flipping

how to get started investing in real estate to flip homes?

im looking for a mentor in real estate that can advise me on the ups and downs of flipping homes.

You ever heard the saying "when the student is ready the master will appear", well its a bunch of bull.

I was looking for a mentor when I first got started with this, but the only "mentor" that was forthcoming were various books on the subject. I'd suggest just reading and reading different books - don't take any of the classes hyped on late night tv, as they are way to expensive and no better (often much worse) than what you can get from a book. Then go get a real estate license - you really gotta have this to get access to the info on what houses are worth, and to be able to flip them with no (no at least less) commissions.

Then when you are ready and think you have foudn the right place, go ahead and start putting in contracts. The rule I used was that for every 10 bids I put in I would actually end up with one place. If I was winning more than 1 in 10 I was bidding to high (but this may vary depending on the market and such - if you find the right place at a fantastic price, go ahead and bid full price - if you don't someone else will).

Expect to make mistakes on the first few, just make sure there are fewer mistakes on each subsequent one and the mistakes cost you less.

So, just go out and do this yourself. Forget about finding a mentor, its up to you to make this happen, and I'd suggest staying away from partners too - that rarely works out as well.

Good luck.

Craig Fuhr | Maryland Estate Investor | House Flip - Hamilton Ave - Final.m4v

Estate Flipping

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