Flipping out of state properties

[Kevin Sharman]

I am new to BP and new to investing as well.  I am very interested in flipping houses but find my local area, Bellevue, WA, to be quite above the price points that I would like to do my first several flips.  I have done a lot of research and listened to many experienced investors and it all points to great opportunities in other states around the country.

What is the best way to put together a team that can do all the parts to a successful flip from my place without having to get on a plane and checking up on it every weekend?

I am looking at houses that just need cosmetic rehabs and not total rebuilds or houses with structural issues.  I have not flipped a house before and understand that there are going to be mistakes and things that I learn along the way.  That is one major reason why I want to start with lower priced homes and minimize my risk.

My only experience so far is buying one rental home that did not need any rehab.

Any advice is greatly appreciated.

Thank you.

[Kathy Argento]

@Kevin Sharman

Hi Kevin. Another way to do it is still do it locally, but raise money from private investors (from your REI meetings and/or bigger pockets). You could finance almost all of it and put a local team together where you live. Start out small and as profits increase with each deal, get bigger and bigger deal with each flip.