New to fix and flip and looking for any advice

[Kenneth Jones]

Hey guy's i'm trying to get into flipping houses but not having to much luck finding my first house, i've tried driving for dollars, zillow, facebook,craigslist and right now i'm using a free trial of propstream which seems like a great software tool but i can't quite figure it out. i'm really looking for help on how to find my first property and which finance option should i use hard money or local bank, if a hard money lender do you recommend one that you have used? Thank you for any help!!!

[Taylor Bittner]

Hey Kenneth, happy to hear that you are beginning your investing journey! I have worked with many investors when it comes to flipping houses and for newbie flippers like yourself, I would say it is best to find a property as close to home as you can get! It will ease the process in ways like being able to commute there on a moment's notice and having a good idea of the area to begin with! Depending on your budget, your end profits can greatly vary, but for the first flip, I would say to shoot for 30-40k profit margins. A great way to do this is to find off market properties, because they will often be negotiated down already, and there is usually always still wiggle room for asking prices! I recommend looking up on the Internet if there is a New Western Acquisitions branch in your area, if so, they specialize in off market distressed properties, and they have deals for WAY under market value! If you plan to continue sourcing your own properties, be ready to put in the leg work, as well as being able to handle objections, because if you want to make a substantial profit, you will need to be able to negotiate down using market knowledge along with just being personable!