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Updated about 3 years ago on . Most recent reply

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Flipping Instructional Program Seems Too Fast

Jason Hornbuckle
Posted

I recently joined a coaching program ( not associated with BiggerPockets at all ) that claims to be able to take a total beginner with no knowledge in Real Estate to the point of making a successful house flip within a couple of months.  At the very beginning I"m expected to interview contracts and start writing offers within the first couple of weeks. This seems unrealistic to me and immediately when I'm talking with contractors I realize that I don't know anything.  lol.   They also want me to start interviewing family and friends to find out how much investment capital they have.  I'm feeling that without a background and just starting out that I could be endangering people's money by trying to do something as elaborate as finance a house flip with someone else's money right out of the box.  It seems a bit insane.  I thought maybe there would be a slower build up of learning some more basics first.  The people are friendly and seemingly very knowledgable and have some very positive outlooks on some things but I am expected to be writing offers in my seond week already and I literally just started learning about Real Estate.  lol.  Does this sound like a recipe for disaster or am I just being a bit too unnecessarily fearful?  

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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
13,647
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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied
Originally posted by @Account Closed:

Yes, but even if have the experience of 1000 flips under your belt, your 1001st flip starts off with the same problem- acquiring the property cheap enough to give you a realistic chance. 

But after 1000 flips, you will know what the odds are of running a successful flip. Right now he knows zero. And acquiring cheap property is only one of many factors when doing a flip.

You asked for an opinion so here it is: The course is BS. They have no skin in the game and talk is cheap.

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