How to get started flipping real estate? What do you need? What don't you need? Can
you start with nothing? Well, I'm going to tell you what you need and what you
don't need. And we're going to go through everything on this video. Let's go. Things
have definitely changed when it comes to getting started in real estate flipping.
So, let's talk about what it is that you need to get started. 2, I'm going to give you
a detailed explanation on what to do step by step so that you can get started
pretty much immediately. And then number 3, I'm going to give you the secret
steps to avoid all of the traps so that you do not do this wrong. Okay, let's go.
When it comes to flipping real estate, there's 2 different types of flips. I
know we've all seen HGTV and we've seen where they buy the property and they
transform it by renovating it into something beautiful. And then they sell
it for tons of money. Well, yes. That is the fix and flip and that is definitely
something that you can do. But there's also flipping that doesn't require you
to do all of the renovations or to even then sell it. There's many cases you can
wholesale the property. Meaning, you can just flip the contract. I'll tell you
what that means really quickly. When you flip a contract, really all you do is
just mark it to people with a property problem. You get the property under
contract for one price and then you market it to investors and other people
for a higher price. And then you collect the difference. And again, this is totally
legal if you do the steps that I tell you to do next. So, before you do anything,
you really need to decide which one are you going to do? Are you going to be that
fixing flipper that you saw on HGTV and try to renovate all the properties and
then sell them and go through the whole process? Or are you at the point where
you should just be flipping contracts? Well, I don't know the answer to that. You
do. But either way, you can make a lot of money. With flipping contracts, you know,
the average profit you'll make will probably be somewhere between
5,000 maybe 10,000 dollars per deal. And the average profit on a fix and
flip is somewhere around the neighborhood of $65,000.
Now again, those are two really good things that
you can do that will make you a lot of profits. But it really depends on if you
have the resources, the money, the credit and the expertise to actually go through
the whole process and fix the property. Well, let's talk through that. My case, I'm
going to tell you a quick little story. I actually thought that I was the HGTV
person. So, back in 2005, 2006, 2007, I was flipping houses and I was doing it all
wrong. I was kind of like other people. I saw people flipping houses
and the market was very good back then. House prices were just going up and up
and up. It hit a lot of my mistakes but it cost me a lot doing it the wrong way.
So, fast forward to me losing everything because like I said, I was fixing and
flipping. I bought houses the wrong way. And then when the market crashed, I lost
everything and ended up back in my parents basement. Once I was humbled and
back in my parents basement. Bankrupted and not very much money, I decided I did
still want to do real estate. I don't know why but I just didn't want to get
beat by real estate. So, I got back into it. But I did it a little bit differently.
The second time when I started doing real estate, I got a coach and he taught
me this amazing thing about wholesaling or flipping contracts. And this allowed
me to start getting those $5,000 checks that I'm telling you guys about without
having to own any properties, without having to use my credit, which was bad. [Chuckles]
And without having to use any money. Which I didn't really have much of. So,
this allowed me to start making profits of $5,000 just by solving people's
property problems that they had. And this may be something that you need to do as
well. But you just got to go through a couple of quick steps before you get
started in either direction. Number 1, you're going to have to get your business
license. You're going to have to either get an LLC or S corp or a C Corp or DBA.
Something like that to make sure that you are receiving payments legally. You
also want to go ahead get your EIN number. Get business cards, name your
business and be a professional business. I won't spend too much time telling you
all about that. I have lots of videos teaching you on that. But it's a pretty
simple process. And so, once you follow this process
and you set your business up properly, the next thing is just to begin your
marketing. Again, I taught you over and over again through all this channel... If
you want to go ahead and binge watch all of my videos. Of course you're welcome to
do that where I'm teaching you and most likely watching this video if you
haven't received some more advanced training.
You're probably gonna start your flipping business, flipping contracts. And
so, this is gonna be a great way for you to start getting that money and start
getting some fees. You know, $5,000 $10,000. And then once you have some
money, then you can do some fixing flips and you can kind of start dabbling in
some of that stuff that you see on TV. And so the key to getting started as you
can see is really deciding where you are. You really don't need a lot of money. You
really don't need good credit. You really just need some expertise and maybe you
need some partnership. And that's where I am here to help. This kind of wraps up
how to get started. But if you need to go a little bit further, I have an awesome
opportunity where you can go to Noellesfreetraining.com and I'll give you a
little bit more detailed training with specifics on how to do it. And then even
some ways where you can get partnered up with me and my team. And we can do some
deals. I just want to make sure that you watching this video. you get exactly what
you need. And so, I'm putting this content out there. I'm offering you this free
training because I want to make sure that you get started in real estate. To your success.