Advice/Information on getting Started with Flipping

[Kevin Y.]

Hi Everyone,

I'm new to Austin and would like some general advice on how to get started with house flipping? I went on RedFin and saw that there are very limited "fixer-uppers" and the ones that are available are very expensive. I assume that this doesn't mean there aren't any opportunities. I've been reading this blog and hearing about zoning and re-subdivisions as a play that was used which my understanding is buying land, and re-zoning it. How difficult is that process? What would be a recommended play for someone new in this industry? Any links, general advice, or how to begin my search would be greatly appreciated. I also saw that Austin Flipsters is offering a course on this but am unsure whether it is worth it. 

Thanks! 

[Jeremy VanDelinder]

My first bit of advice would be to not sign up for a "guru" course. I'm not familiar with "Austin Flipsters" so I can't comment on them specifically, but I would not pay a whole bunch of money for a course. Read, listen to podcasts, start attending meet-ups, and get to know other investors so you can add value to what they are doing and learn in the process.

Yes, it is hard to find deals in Austin, but there are some. In some areas of the country you can buy properties with margins from the MLS--that is very rare in this market. Early on, much of your attention will be focused on finding deals and getting to know those that are finding deals.

Glad to hear you are eager to learn! Welcome to the REI game--its a ton of fun and very rewarding!! Let us know how we can help.