Newbie Getting Started

[Chase Hayden]

OK... I am 2 weeks into my real estate investing adventure. At this time, my goal is to rehab/flip 2 homes this year. I enjoy my current career, and do not want to leave it. Rather than investing in stocks/mutual funds/etc I would like to go a different route.

I have listened to 15 or so podcasts, read a bunch on the forums, and have attended 1 expo for REI. From everything that I have come across, it would seem that the basic template would be:

1.) Find home (distressed, foreclosed, short sale, etc)

2.) Rehab

3.) Sell

4.) Sit on beach with good looking girl sipping your favorite fruity drink. (just kidding)

I have a few close friends that are general contractors, floor layers, painters, etc. So I do not see the rehab part as being a big roadblock. I am more stuck on the house finding aspect. Would a newbie without real estate knowledge be better off going right to a wholesaler and taking the wholesaler cost into account with the 70% rule, or are they better suited finding a real estate agent to help them? I know there is also the option to go through the MLS, but without back-end access and not having experience I question my effectiveness of finding a "good" deal. I welcome your thoughts and council. Thanks.