Flipping

[Luis Ayala]

Good afternoon guys Im new. For the past two weekends I have been going to Mr. Armando Montelongo Seminar and base on the seminar it seems that this is a route that I would like to take. Flipping houses I live in Keller Texas and I was just trying to get an advice from one of you guys that have been doing this for a while. I'm new to this and I haven't even look at a house yet. I have I've over 15 yrs of sales experience and as a right now I work for a bank. Any good advice for me. I really want to make this happen.

[J Scott]

There's a lot of discussion here on BiggerPockets about the big guru seminars in general, as well as some specific discussion about Montelongo's seminars specifically. The general consensus is that you probably won't get your money's worth; in fact, you may end up spending thousands or even tends of thousands of dollars with nothing to show for it.

You can learn everything you need to know about flipping houses for free -- spend a couple weeks reading through all the old BP posts, the blog, the articles, etc. Take a look at my website, which focuses on flipping education (all free). Ask questions as they come up.

Once you feel like you have the basic understanding of the concepts, start attending your local real estate investor association (REIA) meetings, network with other investors and see if you can visit some of their projects.

If you're still interested at that point, but don't feel confident in your ability/knowledge, try to find a successful local investor who will allow you to volunteer your time in return for seeing how his business is run. Perhaps find a local investor who will coach you for a *reasonable* fee.

Better yet, once you have the basics down, go out and find a great deal, and when you find it, take it to a local investor and offer to partner in return for some coaching (if you bring a great deal, many investors will be happy to work with you on it for a piece of the profits or a 50/50 partnership).

Good luck!