Columbus Ohio house flipping

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Hi everyone,

I trying to start house flipping business in Columbus Ohio, right now i am educating my self, I have few question and would be happy to get answers,

do i need to have a specific license to start flipping houses?

How is the current columbus flipping market is it worth it to work full time and invest on flipping house? 

How hard is to find good deals in current market?

Do you think it's better to use cash or get loan on properties and why?

Any one in the area that can help with finding good deals and guide?

What areas in columbus are good to buy the properties?

normally how long it takes to flip a house?

Please respond even if you have information on a single question.

Thanks

[John Horner]

Welcome to the Columbus market.

Yes the market is hot right now, I wouldn't plan on finding any deals on the MLS even if you do have cash.

You can find deals by doing your own marketing for off market deals but that's a huge investment of time and money.  You could hookup with some local wholesalers but the good ones already have solid buyers who they know make fast decisions and close fast.

I pay cash for rentals and flips until I refi the rentals because it gives you leverage over other buyers using financing or wholesaling.  We tell people we can close in 2 weeks so we need to be able to do that.

It takes 6-8 weeks of rehab then another 6-8 weeks after listing for the banks to approve the buyers, underwriting, etc.