Laid off How do I get started?

[Eric M.]

Hello Everyone

I have been laid off a few months ago. I was miserable working at that job. Have been living off savings and really don't want to have to start another job unless I have too. I would like to get started in Flipping. I really like idea to take something old and make it look new. Later down the line I would like to buy and hold. I have 780 credit score but funds are limited. How do I go about getting started? Thanks

[Shmuel Harris]

First thing to realize is that money never comes QUICKLY in Real Estate. NEVER!!

I'm a real estate agent and usually takes months from contract to closing.
After you accept this fact, the next step is to identify what makes sense to do in your market.
Wholesaling IMO is the quickest cash. Depends on legality and whether or not you want to pursue this avenue. If you do, get started in direct marketing to homeowners in your farming area to find the sweet deals that will make you the cash.
If you have cash to hold you over on a flip, then the deals that you find, see if you can do the flip yourself.
Other than that make sure to study up on what you are doing. It's much easier to lose money in RE than to make money.
Good luck!
You are in the right place. BP is the best resource hands down to educate yourself on the industry.