Steps to flipping houses: Buy, Renovate, Resell

How to Get Started Flipping Houses

By Christina El Moussa

The other day, Tarek and I were talking about how we got started in our business. If you’ve watched our show on HGTV, Flip or Flop, you know that flipping houses is a really rewarding business, and you’ve probably thought something like, “I’d love to do that…but how do you get started?”

I realized, as we were talking, that a lot of people really don’t know how to got started flipping houses. In fact, a lot of people think that you have to save up a lot of money or that you have to know everything there is to know about real estate. Well, you don’t have to be a real estate guru or independently wealthy to be a successful flipper. Believe me, we didn’t start out with a lot of spare money to spend on real estate investments, and you don’t have to, either.

Blog, Flipping Houses, Real Estate Business, Real Estate Investing 101

Flip homes, but not literally. This one was actually built upside down.

Five Different Ways To Get Paid Flipping a House (There’s Not Just One!)

By Tarek El Moussa

When you think of flipping a house, what’s the first thing you think of? The check you make on the deal, right? That’s why we flip houses! But the real question is how did you get paid on the deal, and I don’t mean whether you got a handwritten check or a bank transfer from the settlement company! What I mean is, what exit strategy did you use to flip your house?

That’s right—there’s more than one! First, let’s define flipping: the ability to find, fix, and flip a house to a new buyer in as short a time as possible for the biggest payday possible. The goal is to buy low, rehab strategically so you don’t over “fix,” and then flip the house to a new buyer at a price point that makes it a good deal for them but a great deal for you.

Blog, Flipping Houses, Real Estate Business, Real Estate Investing 101, Wholesaling