new guy

Mike096 · #1 10-22-2009, 09:32 PM

Hi I am new to the forum. I have always been interested in house flipping, and hope to one day invest in a flip. Now I am currently doing a college report on how to successfully flip a house. I have been doing a lot of research and I have found some information usefull and some just junk. I was wondering If anyone had any tips to find the most reliable and usefull information. Any input is greatly appreciated. THANKS!

Eyeofngt · #2 10-22-2009, 11:36 PM

Welcome to the forum Mike!! Glad to have you here! Just about anything you wnat to know ask the expert here "Jared". Make the tile a question for Jared. He will be glad to answer your questions.

flip_it_fast · #3 10-23-2009, 02:21 AM

Welcome to the forum. There is a ton of great information here. Just dig through the pages of it lol! Jared is out "In-House" guy. He has experience in flipping houses and in real estate in general. He is our go to guy!

Good luck on your paper!

badmomma · #4 10-23-2009, 03:29 AM

Welcome. I say ask everyone. If you know people who have done house flips get their opinions. They can give you some pointers and experiences. And yes Jared is the guy to talk to. I will let him know you are here and maybe he can answer your questions. If you have some specific questions to ask leave them here everyone here will help you as much as possible.

flippinout · #5 10-23-2009, 11:45 AM

Welcome to New House Flip. We are glad you have joined us and we will be more than happy to help you in any way we can.

Look around here in the forum. We have a lot of information here that I know you will be able to use. We even have a section on mistakes that can be made when flipping a house.

If you have any questions at all that you would like answered, as the girls have told you, Jared is the man to ask and if he doesnt know the answer I would be very surprised. Plus Jared is very straightforward with his answers. He will not steer you wrong.

homealone · #6 10-23-2009, 05:46 PM

Jared is the greatest when discussing flipping houses. He never beats around the bush and you know you can depend on his advice.

Though another place that you can also get some useful information reguarding flipping houses is Utube. There are alot of videos there that explain things step by step and in detail.

So you may want to give that a try as well.

JaredfromIndiana · #7 10-27-2009, 11:58 PM

Dropped the ball on this one, sorry folks!

I would say the most important things to know about flipping are these.

1. What is the home worth after it's fixed up? Find a local Realtor that can help you with comps from the past 6 months. You need to be 100% dialed in on this.

2. Be careful with your budget. Don't put $2,000 granite counter tops in a $59,900 house. I think the budget is one of the hardest parts of a flip. I have been within $500 of my projected budget on a few and $5,000 OVER budget on a few.

3. See #1.

badmomma · #8 10-28-2009, 03:03 AM

Thanks Jared. I will also keep this in mind. We are going to buy our first rental home and your tips are going to be useful here to I imagine.

If renting doesn't work out than a sale may be in order so this advice will be used from the beginning.

Mike096 · #9 10-29-2009, 10:00 PM

Thanks you all for your advice. I will definitely be contacting Jared. Has anyone read a book called Flip: How to Find, Fix, and Sell Houses for Profit. It looked like a good place to get information as well. I do not know anyone who has flipped a house. But I think I am going to try to contact a realator.

Eyeofngt · #10 10-29-2009, 11:26 PM

I personally have never flipped a house, But I have friends that have and they love it. They try to find ones that have been repoed and forclosed on and get for a good price, fix it up and make a good profit.