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Updated over 5 years ago on . Most recent reply

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Tyler Wolgamuth
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Someone that can help walk me through starting in flipping houses

Tyler Wolgamuth
Posted

Hello, currently living in Houston area and would like to start PT work in real estate flipping a house. There are tons of training but can't seem to find step by step guides. What is it you 1st, 2nd, 3rd and so on.

Thanks

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258
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Ryan Luby
  • Rental Property Investor
  • CT
227
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258
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Ryan Luby
  • Rental Property Investor
  • CT
Replied

@Tyler Wolgamuth

Find a few investors in your area, and reach out

Do whatever you can to add value to their real estate investing goals

Don't give anyone your money, leverage a different asset (like time)

Be persistent

Say yes to every opportunity, and build your tool belt (acquire things that help make you more valuable, real estate license, contractor license or something like this)

Treat your experiences like a school.. because it is, document what you see/ learn, take notes, journal, revisit what you document, think about the process, analyze houses.. try to organize in a g-sheet or excel the investors criteria they use, identify how they invest, what metrics they track if any, what is their average purchase price, average profit, average rehab budget, average difference between estimated rehab budget and actual rehab budget, average difference between estimated ARV and actual ARV

Continue tracking this information, combining books and podcast with this.

Sleep well

Eat well

Exercise consistently, especially exercise before or after reading or learning, and listen to a podcast while doing cardio so you retain the info

Start refining your tool belt, and sharpening only a couple tools that contribute toward your goal

Start saying No to distractions or things that take away from your goal

Work consistently over a long period

Work your a$$ off...

Good luck, keep working hard!

  • Ryan Luby
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