Summary: Do you want to learn how to fix and flip houses? Fixing and Flipping Houses is not as difficult as you think it might be (although it is not as dramatic as the house flipping shows on TV will have you believe). In order to fix and flip a house you only really need a few ingredients. Number one is you need a house, and that is the most difficult part (to find houses). However luckily there are these people called "wholesalers" who specialize in finding houses and if you want to fix and flip houses for a living then these wholesalers are going to be a great source of deals for you. However you will need to know how to seperate the good deals from the bad deals. You will need some kind of system. We teach this system at our Fixing and Flipping Houses Boot Camp. Essentially you need to know: 1. What you can sell the house for after you have remodeled it 2. What it will cost to repair the house 3. What the most you would be willing to pay (to make a reasonable profit) Number 3 above is very subjective (meaning it is dependent on the individual and not on the house). Why? Because if you have cash sitting in your checking account or your parent is loaning you the funds then your cost of borrowing that money is very low or even zero. Since you have no interest cost, points, fees etc you can afford to pay more for the house. However if you have to borrow money from a private lender and pay points and fees then in addition to much larger up front costs, you will also have the recurring interest cost that you will have to pay until the house is sold. If you are borrowing from a hard money lender or private lender then you will need to be much more selective on which deals make sense. Another key factor in fixing and flipping houses is how many deals you can do at a time. If your cost of capital (money) is zero (let's say you have a wealthy relative who will loan you the money interest free) then you will be able to do multiple fix and flips at the same time (and make a lot more money). However if your finances are very constrained, then you will only be able to do one fix and flip project at a time. The biggest mistake I see beginners make is being under capitalized which is not a good way to start fixing and flipping. You are better off saving up your money and learning how to wholesale and establishing relationships with rehabbers in your market until you are capitalized enough to do your own fix and flips and can tap into the resources of your customers and their contacts and contractors. Don't be greedy. Learn how this business works before you start borrowing lots of money from lenders. However, having said that, if the right deal comes along and your finances are in place then don't let fear stop you. Many times you will be better off partnering with someone that does have cash where you agree to do the work and they agree to be a passive investor. This can be a win with scenario for both investors. All of our students that are now fixing and flipping houses got their start and introduction to fixing and flipping real estate at the Fixing and Flipping Houses Boot Camp. This fixing and flipping boot camp is perfect for beginners who know absolutely nothing (or very little) about how to get started fixing and flipping real estate. What we have found with our students is that most of them have a limited basic knowledge of wholesaling and how to find houses. But not enough information in order to put all of the pieces together to learn how to fix and flip their first house (and make money). At the Fixing and Flipping Houses Boot Camp we close that gap by teaching you a step by step process for how to fix and flip real estate. If you are brand new to real estate and want to learn more about how to fix and flip houses then please register for the free fixing and flipping houses training at this link: https://www.lexlevinrad.com/fixandflipwebinar For more information about the Fixing and Flippin
