How can a newbie make money in a hot market?

[Patrick Philip]

I live near Orlando. I just read an article that said this is the hottest market in the country for rise in home values. From talking to wholesalers, deals are hard to find. The deals they do have are trading at 85% at times. This also means that margins are relatively slim for rehabbers. I have about $8,500 in the bank, but I possibly have the ability to borrow money from a family member and split the profits.

[Tom Linnik]

If you alone are discouraging yourself, you really aren't in the right business. Im 21 years old, in college, getting my RE license on the side, and worked construction in the summers for the past 4 years learning everything i could about RE investing. Im finally JUST NOW getting house flips and investors to trust me with their money. Philly is a relatively hot market and every experienced wholesaler will tell you its hard to find deals... you have 8500 saved up?! how long can you live off that frugally? because i took only 3 days off work and walked as much of a hot neighborhood as i could where i was stopped and people told me theres no deals here. From 3 days of walking I wrote down 240 address, found the owners and sent letters to each one. 7 got returned, and i got 3 people to call me back. I potentially have only 2 deal in the works. And i consider that an amazing week.  If you take a whole month to do just that you might get a deal and it will be all worth it. Drive and walk everywhere you can. Don't buy lists, get genuine leads that no one else is willing to walk for. Thats how you get started....

Get your RE license. Don't Watch Tv. Read Books that will change your thinking from "Theres no deals here to I will find that one that someone missed"

Asses your life to see how much crap you can cut out of it.