Can't Wait to Get Started!
Hello Everyone! My name is Matt Ward and I live in St. Paul, MN. I recently decided that I want to pursue a career flipping houses. What is most exciting about REI to me is taking an unattractive house, and transforming it into a beautiful home. And I want to be the one to do it. I love to fix things and make things look new again. The idea of doing this to something as big as a house makes me want to buy a house today!
I currently work full-time, 40hrs/week, and live in an apartment with my wife. I don't make a ton of money and only have little saved, but I am adding to it every week! The money is what scares me. I've heard both sides: You need a lot of money, and also that you don't. My plan is to buy a house that would be an investment property, but also my home until it's time to sell. I would do this until I had enough equity to buy other houses without having to move. I need help to know if this is a good way to get started flipping houses. I've read the beginners guide and I am constantly trying to learn as much as I can. I just created my account today and I am excited to start interacting with what looks like an awesome and helpful community of real estate investors. Thank you for your help and guidance!!!
-Matt Ward
Most Popular Reply
Matthew, I would recommend getting pre approved for a residential loan, 30 year term, and then hook up with a realtor who will start sending every foreclosure that hits the market your way. Find a property that needs a lot of work and is scaring away other buyers and low ball it. Do most of the work yourself to build equity into the deal. This approach is a great way to get into your first deal.