Jan 27, 2016 at 02:14 o\clock

The Fastest and Easiest Approach to Get Started Flipping Houses

I meet many people who want to learn how to start to flipping houses. Many of them seem to want to do their twelfth house flip before they’ve even done their first - investing - one.

Although I think the ambition is great, it may not be the right way to start off.

Many of us would surely want to make some loads of money very fast, and enjoy beach and drinking some cold beverages with umbrellas. As much as that sounds like a great thing to be shooting for, I wrote a book a few years ago that kind of blew that for me.

How does this add up with regards to house flipping? Once I started actually doing the flips, I realized that the process of flipping a house is actually the fun part.

The end result is fun for sure. Selling a flip in a day is awesome, after working for six months and walking away with a nice chunk of change… that is a very good feeling.

However, it’s the process of flipping a house that gets me all amped up. So when I meet people that just want to aim for the end result, I tell them the same thing: you have to start with your very first house flip first.

Wholesalers are Good Source for New House Flippers

When just getting started flipping houses, it’s best to start small and not bite off more than you can chew. So start small, but get started quickly. In the best way to do this and I have found is by using wholesalers.

In fact, when I go to real estate investment meetings and meet other successful real estate investors, mainly house flippers, they tell about the same story: they begin with the wholesalers as well. In fact, many of them prior to becoming a full-time house flippers, were wholesalers.

So if you do need to quickly get started in house flipping, and get to recognize local wholesalers as they simply are a better source for house flips.

Like anything in flipping houses, with wholesalers, you get the good with the bad. But like any other profession, you have to sift through the bad ones to get to the good ones.

What Is A Wholesaler?

Wholesalers will put a house flip deal under contract and then turn the deal over to an investor or house flipper for a fee. This is one of the many reasons why it attracts so many new real estate investors.

It sometimes helps as a house flip broker to think about a wholesaler. He makes some money because he was able to present a good deal of house flipping.

But if the numbers work according to your 70% Rule, even with his fee, you can make money as well. In fact, one of the most successful flips that I’ve ever done where I made over $56,000 in net profit, I used a wholesaler to find that deal. It was in such bad shape, it turned off every other real estate investor in the area. And despite his $5000 finders fee, I still made a very healthy profit

There are plenty of good deals to be had with wholesalers, but only as long as the numbers work. Make sure your projections are accurate, you don’t utilize any “eraser math” in the financial projections and ensure you get good brokers who knows the market, and does exactly how much you can sell the property for.

Wholesalers as an Awesome Source for a New House Flip Deals

Be sure to remember that a lot of people begin investing in real estate as a wholesaler, so sometimes because of the fact that they are new and inexperienced, what they think is “an awesome deal” is actually a lousy deal. Many wholesalers take the best deals only for themselves and then pawn off the remaining to other investors. So beware.

Like I said before, many would be real estate investors wholesale for a little bit until they can fund a full on house flip on their own. They await their chance of having enough reputation or money to get started flipping houses on their own.

They are simply taking care of the first step in the house flipping process – which is to find the deal.

Are there experienced and seasoned wholesalers out there?

Of course, there are. Certain people just want to find the deal and pass it off to a house flipper. There are plenty of rookies, but also plenty of veterans.

Where Do I Find Wholesalers?

You can find sources of house flipping everywhere. These are the “I buy houses” signs you may see around town. I’ve also met MaierRealtyAndTrust Real Estate investing. You can also find their ads in the local newspapers under “houses wanted,” or “we buy ugly houses”. Just keep your eyes open and you will in no time see signs as these almost everywhere around your town.

Despite any reservations many house flippers might have on wholesalers, if the numbers make sense, then it’s worth it for both of you. It’s a win-win situation when done well.

It is you want to get started with flipping houses quickly, if you wish to retire only to the beach or just keep flipping while making more money, the wholesalers are better ways to quickly get you started.