Friday, August 8, 2008

House Flipping 101

Zach and I are closing on our 5th property (in two years) at the end of the month. I'm so stinkin excited about this one! The house isn't in terrible condition but definitely needs updating. I have a few professional house flippers that I follow and have learned a lot from. These are some basic tips that I have learned from one of these successful people.

-Knowledge + Business Systems + Action = Success!
-Marketing to find good real estate deals is the most IMPORTANT part of the business.
-Consistently educate yourself on the real estate business.
-The goal is to work in your business for a short time period and then hire someone to replace you so you can work on your business.
-Real Estate investing is a TEAM sport and the stronger your team the more successful you will be.
-Find someone who is successful in the real estate business and model what they do. Imitate then innovate.
-Failure is the first step towards real estate success.
-Don’t let fear stop you from living up to your true potential.
-Real Estate Investing is a business and should be treated as such.

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