It is easy to look at the real estate market with a skeptical eye. With all of the hype about the ease of flipping houses and potential to make money, it almost looks too easy. While flipping houses is not easy as reality TV shows can make it appear, it is something that anyone can do with a little determination and due diligence. Yes, you can wholesale without your own money. Yes, you can buy a rehab without being a contractor. After enough time, you will find that most of your assumptions about flipping and rehabbing properties are wrong. If you want to get started flipping houses, you can! Believe me when I say that anyone can flip houses successfully.
Most would-be investors complain that they don’t have money or time to buy real estate. However, these issues are usually unfounded or misinterpreted. First of all, you don’t have to have your own money to buy a property. It certainly makes the process easier, but it is not a necessity. You can use other people’s money to fund your deals. There are many private and hard money lenders waiting to serve as your source of funding. If you have a plan and a vision, finding financing may be easier than you think. The better your exit strategy, the easier it will be to get someone to fund your deal. Between your realtor, attorney, family and friends, you will probably find someone looking to make an investment in real estate. If you find the properties and do the grunt work to get it to closing, you may have your partner right in front of you without even knowing it.
The Internet has made buying real estate easier than ever. Instead of driving to the property and town hall to gather your info, you can find most of it in a few clicks on your computer. You can save a lot of time during your house hunting search by eliminating properties you don’t want. Any properties that are interesting to you need to be investigated further, but you can still submit offers, sign documents and forward information on your phone or mobile device. You can even maintain your full time job if you desire. Many people continue to invest on their downtime, and on nights or weekends. If you truly have a passion and an interest in flipping houses, you will be able to make it happen. It is as simple as that.
For reasons beyond me, there is an unfounded belief that you have to come from a contractor background to be successful. While having contracting experience is helpful, it is not something you need to have before you start. What you need to do is spend the time to find the right contractor for your particular investing strategies. It could take talking to a few contractors before you find one that is a good fit, but it will be worth it in the long run. You will learn the process as you go, but as long as you have a good team around you, you do not need to be an expert in every aspect of this business. In fact, that is what your team is for; to help you in areas you are unfamiliar with.
Rehabbing and flipping properties is a process that anyone can do. It takes hard work, perseverance and a willingness to learn, but if you have those three traits, you are well on your way to real estate success.
