| Will a newbie be able to start a house flipping | | | | Once you find that rundown property, be sure to place |
| business? Of course! Everybody started as a newbie | | | | it under an assignable contract. Take note that you |
| in this industry. It's just a matter of closing your first | | | | might need to pay some earnest money deposit, |
| deal to gain the confidence to continue flipping houses. | | | | which the seller will get once you walk away from the |
| After all, today is the best time be investing in real | | | | contract. In most cases, $10 works as a deposit. The |
| estate. This is thanks to cheap properties, which are | | | | contract will give you the right to purchase the |
| available in today's market anywhere in the country. | | | | property within a limited time period. Within that period, |
| So how do you close your first deal? The first thing | | | | you must be able to find a buyer who is really |
| you need to do is to take action. Do something | | | | interested in the property you have under contract. |
| concrete. Don't just sit all day and tell yourself that you | | | | Are there really buyers of such properties? A house |
| want to flip houses. For example, go online and print | | | | flipping business usually caters to rehabbers, or real |
| information on flipping, which is also known as | | | | estate investors who repair old houses. They will buy |
| wholesaling houses. Now you have something tangible: | | | | the house you have under contract as long as they |
| the piece of paper. It's not bad for a start. Once you | | | | can make money from it. Therefore, the key to |
| gotten the hang of it, take more action and start | | | | wholesaling houses is actually acquiring the property |
| looking for properties you can wholesale. | | | | extra low. It doesn't matter if you don't get much from |
| Drive around your chosen area and look for houses | | | | a deal as long as you can offload the property fast. |
| that are vacant and show signs of neglect. Boarded | | | | Flipping houses is a numbers game and the more |
| up properties that are located in nice neighborhoods | | | | houses you flip, the more profit you'll gain. If you're |
| are perfect for your budding house flipping business. | | | | greedy and want too much gain from one house, |
| Ask neighbors and locate the owner. Tell the owner | | | | chances are it won't sell. |
| that you are a real estate investor who is flipping | | | | A newbie and afraid of failure? Don't be. Everybody |
| houses. Tell him you can purchase the property within | | | | started as a newbie in real estate investing. As long as |
| a short time although you can only offer a wholesale | | | | you keep yourself informed and you take action, you'll |
| price for it. | | | | be fine. |