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Flipping Junkie - Danny Johnson - For Those Addicted to Flipping Houses

Flipping Junkie is a podcast for people addicted to flipping houses and real estate investing. Subscribe for weekly episodes with interviews from regular Joe house flippers that have become successful flipping houses as well as expert real estate investors sharing their best secrets on how to flip houses for big profits. Find out in detail, what is working today, to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determine repair costs, find contractors and manage rehab crews, what improvements to make and how to quickly sell your houses for big profits. Don’t worry, we won’t leave out the serious mistakes that you need to avoid when get starting and growing your real estate investing business. Join Danny Johnson to get the inside scoop on how to get started in this life changing business that has such huge potential to create financial freedom for you and your family.
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Flipping Junkie - Danny Johnson - For Those Addicted to Flipping Houses
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Now displaying: Category: wholesaling
Oct 12, 2015

Brandon, house flipper, landlord, senior editor at Bigger Pockets, all around real estate investor shares what he feels is the best way to get started in house flipping.  

He recommends people start with a live-in flip.  The strategy involves buying a house that needs work and living in it while you fix it up and then selling it, either right away or several years later.

I completely agree with Brandon that this is an awesome way to get in the business and learn the ropes.

The benefits he describes makes this insanely obvious.  Those benefits include:

* Getting a much cheaper loan than hard money

* Learning how to properly fix up houses

* Avoiding capital gains taxes when you sell the house (if you live in it for more than 2 out of the last five years - reference link here)

You can also get first dibs on HUD foreclosures as they usually give a 10+ day window where only homeowners can buy their houses.  During that period, investors cannot bid on them.  How awesome is that?!

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