Flipping real estate?

You should do as much research as possible. Watch all the shows on tv on the subject, and take notes. Be skeptical too; TV is as much (or more) about entertainment than education, and if you watch closely, you’ll see they leave alot out.

Join your local real estate investors group. Attend the meetings and listen carefully. Make friends. This is a great way to learn.

Spend alot of time online reading about rehabs and flipping. There are alot of forums, articles and stories. You can learn alot. There are also programs you can buy online to learn about this, but be sure you research them and ask on the forums about particular programs before you buy.

Finally, talk to real estate agents and mortgage brokers. Tell them you want to flip, and how you should start. You’ll need these people anyway if you want to be successful, and you’ll find out real quick who knows what they’re talking about and who is willing to help.

do your research for deals, KNOW reputable carpenters and professionals and deal only with them, and know what you are getting into, this is hard work, but you HAVE to know what you are doing or you could get seriously burned.

Advice would stay away from it right now have you not read the market? Homes are not selling and are dropping in value. Bad time to get into this venture

Buying and selling is a good deal tougher these days given the changes in the mortgage industry and the economy in general. Divorces are even down because typically selling the house and splitting the proceeds is part of the decree, however, in this market there are no proceeds to speak of; they’re lucky to break even!

What plays in your favor is that you said you’re “new” to flipping. So take advantage of this down time and learn as much as you can from support groups, books and involving yourself with those involved in flipping for a profit. Those experienced in this field in your market is your best source. Allow them to act as your mentor answering your questions and listening to their own personal experiences. Always ask them, “What was your biggest mistake?” and “If you were to relive that moment, what would you do differently.” There is no better advice than to learn from other’s mistakes in the hopes you won’t make them.

Make it fun. Keep a journal. Who knows, it may be just the material you need to one day write a book on the subject and live off the royalties!