You may be attracted to flipping by the possibility of a quick profit, and fixing and flipping houses looks like a lot of fun on T.V. But property flipping is not something you should jump into blindly. There are risks. If you’re totally new to real estate, you’ll need to get up to date fast.
Investors who flip are a special breed of real estate customer with different knowledge, goals, and priorities than your average residential buyer. They know exactly what they want. They have niches, strategies, processes, and specific formula to evaluate real estate. Flippers may do dozens of deals a year, making lots of offers. They know the ins and outs of creative financing, investing strategies, deal analysis, cap rate, income potential, and neighborhood analysis.