Flip without experience?

[Kimberly Munchel]

I want to try to find a house to flip and have no experience doing this. Is it feasible?

[Andy Sabisch]

Flipping benefits from experience but we all started without that piece.  Some brought cash, some brought credit, some brought partners, some brought construction skills but they all brought something to the table. 

Finding a deal is easier than many make it out to be.  The calculators on BP are invaluable and we have used them for virtually all of our projects over the past few years.  It can quickly tell you if the numbers work (assuming you put quality data in) and then you can use what you bring to see if the deal is for you.

Some people starting out look for cosmetic flips which are still out there.  Others are willing to take on a total reno or even fire damage. 

You should look into REIGs in your area and see when they meet.  Meet a few of the flippers in your market and see what they are finding in terms of areas, price points, reno duration, etc.  You might even find a partner on your first one where you find the deal and they work with you to do the reno - split the profits and now you have one under your belt and have seen some of the pitfalls.

Stay the course but be wary of many of the guru's that claim to have all the answers for a fee . . . use the family here which costs nothing and take assistance when offered.