Flipping and selling?

[Emira K.]

I am willing to buy a property in cash, renovate it and sell it. Where would I start? Anything I should consider? Be cautious about? I heard there are off market deals. Any suggestions are greatly appreciated. Thank you!

[Carlos Valencia]

Hello Emira, 

Flipping can be very lucrative and good way to invest ad get the most ROI from your investment in a short period of time. As long as you understand how to underwrite a property you get from a wholesaler you will be able to get good results. Not sure what market you are in but I recommend looking for real estate investment group locally so you can network with other flippers and pick their brain. Many flippers are open to sharing their experience. You might be lucky that you might be able to maybe shadow an investor on their flip. You can also try to flip smaller unit like maybe a condo or a mobile home where you also own the land. This way there's low risk in the beginning. It will all depend what you feel comfortable in terms of budgeting and the type of repairs needed. Make sure to have your contractor ready and your cash or hard money loan ready as well to work on your repairs.

@Albert Bui