newbie from Philadelphia, Pa.

[Fandor Malebranche Jr]

I currently just went in business with two friends to flip homes. We working with our savings but not a whole lot, we need some insights and great deals to obtain our first property in Philadelphia. Auction is our next step but we're afraid the big dogs will buy all the properties we can afford. 

[Ethan Giller]

If you are inexperienced and you don't have substantial capital reserves, in my opinion you should not start out by going to auctions.  That's a fast way to turn your hard-earned savings into a hard-to-get-rid-of mess!  If you have two other partners and you are all new to real estate, make sure your expectations and responsibilities are VERY clearly defined (and documented).

You should start out by going to real estate meetups and network with other investors.  Find some to partner with, or just tag along on their projects.  Listen to all of the BP podcasts.  Get prequalified for mortgages.  Talk with contractors.  Get to know your target market.

There is something to be said for jumping right in and getting started... but it will be a very expensive education.