I know everyone is busy with finding great deals right now but I would appreciate an answer. I am 24 years old and been a licensed agent for 3 years. I really want to get into the investing side of real estate and property flipping seems like something that would fit what I would like to start with. I have read a few books but would really like for someone to share with me a real life scenario of how you flipped a property. I read in the books how it is done but it doesnt go into much detail. Please someone share your experience with me!

Thanks
Zack

I would read John T Reeds Material. He gives you a tons of successful strategies and the cold hard facts about Real Estate Investing/Flipping. www.johntreed.com

As long as you walk away @ closing with a profit and were able to buy @ 20% below mkt value.

Don't waste you time reading Reed's stuff... he is just a book writer that dose not actually deal in real estate or investing, he actually has almost no history of investing... just writes books to sale.

Flipping procedures depends on what type property your considering, and what your level of involvement is going to be. Are you looking to locate below market value properties and immediately resale them at near market value?... or are you interested in locating properties that need repairs / updating and doing some or all of the work and then selling at the After Repair Value? or are you only interesting in Birddogin and flipping to an investor?... or are you interested in acquiring distressed properties at below mortgage values and re- selling retail or wholesale or repair and do the same or have you considered repair and hold for cash flow... multi streams of income are about the only way a traditional real estate agent can break away from living on commission sales.

All of those are basic Flipping opportunities (except the fix and hold) but require different levels of involvement and capital.

Selection of what type your looking for will also identify how you go about locating the subject properties.

You need a plan on what your goals are and what your exit strategy is... always have this type plan in place prior to making an offer to purchase.... never buy just to buy, never be a motivated buyer... always look for motivated sellers.

Don't bother looking for some semi religious grue to follow in his foot steps... especially one like Reed who has never actually done any significant investment and has left no foot prints to follow just books with open ended concepts.

Develop a strategy to fit your personality, capabilities and finances. Look at opportunities and learn various ways to handle them until you know the best way for you in specific circumstances.

If you really are interested in doing investment, rather than just sit on the fence and just read and talk about it but never do it..... many on-line sites are available for specific procedures where people who actually do real estate investment, every day... are available and willing to lend some insight to specific opportunities you discover. Simply do a web search for real estate investment discussion groups, CREI, and Dealmakerscafe.com are some of the better ones... real people doing real deals using creative real estate investment techniques and not out to sale you something... they do have links to other sites and educational opportunities some free and others at a cost... all the forums are free... check them out if you have a real interest in applying what you have already read....

Good luck.... and do something... that is the best way to learn.

Well, experience counts, but a whole alot of smoke and mirrors comes from places like Dealmakerscafe and creative forums like it. The Cold Hard Facts starts with knowing a List of Strategies , learning the state laws regarding your strategies and where to locate them- (ex. courtrecorders office, Agents etc.) Finance comes after you find your strategy and locate your bargain. See people that talk up ways to "creativly finance Real Estate", are usually layman and can only know about 3 or 4 strategies. Hardly someone you want to lead you down the right path. Reed (Harvard MBA again..) has interviewed 8000 or so investors over 30 yrs and made millions in his early days. learn from the right guru- not these people that only know part of the story. Am I right?

Title Problems
Probate
Pre-foreclosures
Forclosure auctions
Conventional OREOs
FHA and VA repos
Builder auctions
Tenant-in-common interests
Rights of redemption
Life and remainder estates
Existing options
IRS sales
Bankruptcy
Execution sales
Houses that smell
Condemned property
Delinquent tax auction
Judgement investing
Regulatory loopholes
Used mobilehomes
Owner unknown
Discount lien release
Condo reconversion
Assembly
Out-of-country land owners
Development-ready lots
Enviromental-problem property
Corporate property
Distressed-owner bargains
Delinquent subdivision mortgages
Property-wanted ads
Homeowner-association-dues foreclosure

The funny thing isthat..> What Realty Check is saying is "exactly" what Reed states in his books!

-Find a strategy that fits your personality
-Go into a property knowing your exit strategy
-Sell your property a liitle bit below mkt value so you can move on to the next deal
-Best way to learn is doing deals but- remember where the library is

I have to start small and diversify my risk ex.- Mobilehome paper, Buying Judgements, Tennant in Common interests, etc..

I'll give it to old realty check, he knows "part" of the story from his years on the front, but I'll stay on the right path of gurus.

Robert J. Abalos
John Beck-Tax Liens
Bob Bruss
CCIM Courses- Only worthwhile designation
George F. Coats
Jay P. DeCima
Gary DiGrazia-Probate Strategy
Joe Dominquez
Jane Garvey
Bill Mencarow
Kevin Meyers
Bill Nickerson- -Grandfather of Investors
Leigh Robinson-Property Mgt guru
Al Seastrand
John Schaub
Lonnie Scruggs- Mobilehome Investor
Bill Tappan
Lloyd Walters-Judgment Investing

I think the best way to start RE investment is buying pre-construction and assigning before closing. This works especailly well with high rises and ocean front condos. You buy well before ground breaks and by the time they are nearing completion, the units are selling for 20-30% more. This is great way to go for many reasons.
1. There is little if any risk of loss of value
2. All your doing is assigning your contract, thus you are selling the right to buy at your price and not the actual property
3. No closing cost (minimal) and little capital needed (5-10%)

There are some risks as with any investment. Make sure your developer will allow it (most due with restrictions). Try to chose a builder who has a history of jacking the price through construction. To do this, find a recnet project, and check the tax records to see what people paid and on what dates.

This is not new technique but certainly gaining in popularityv by the minute. I know some big ballers (over 100 mil)and this is how they invest. Foreclosures and rentals can be highly profitable, but pre-construction will make you a baller. Plus it is less risk and much much less work. Happy investing. Remember me when your on Cribs.