We just purchased this three bedroom single family home in Onset, MA and have thus far not done any work whatsoever to the home. If you are just getting into flipping houses then this post is a must read - you'll get to see exactly what condition most of the houses we rehab are in when we purchase them.
First thing I noticed about this home was the smell. The previous owners were big time cigarette smokers and it was apparent that they had no qualms about smoking indoors. On top of that, the smell was compounded by a reasonable amount of trash, rotting food and even fecal matter left over from pets.
However, that smell is really just the smell of opportunity! If you plan on house flipping for a living then it is inevitable that you will run into homes like this one. To be honest, this home is just the tip of the iceberg. Many houses that we flip are much more run down, smell even worse and are chock full of garbage.
It's these rundown homes that present the most opportunity for making a lot of money. Check out the video below to get a better sense of what I am eluding to.
If you are just getting started house flipping, there is much to learn.
Can it be done? Absolutely. But there is no one house flipping 101 course you can take to learn it all. You need to go out and do it on your own, gain experience and learn from your mistakes. If you can shorten your learning curve and avoid the big pitfalls, consider yourself getting your house flipping 101 education through "on the job training".
Experience after all, is the greatest teacher.
If there were a house flipping 101 course like how they do it in The Matrix to immediately make you an expert in flipping homes, all us real estate investors would surely do it!
However, there is no singular course or no single Continue reading
When first learning how to flip a house successfully, some would have you believe its a simple process.
I'd LOVE to tell you that house flipping is super easy and you'll make a pile of cash on your very first flip...but chances are...you won't.
Does it get easier the more house flips you do? Absolutely.
Is it easy when you first start out? No way.
But it is very possible to learn how to flip a house successfully very early on in your house flipping career. Enclosed is a brief overview of how to do your first house flip in very broad terms.
Of course, there are always more resources and tips here to help you in more detail.
Knowing how to flip a house successfully involves an extremely complex process of multiple steps and check offs that need to be done in a very precise order to ensure maximum execution. But don't be intimidated because the fun thing about house flipping is that Continue reading