How To Really Learn What You Don’t Know About Flipping Houses

Danny Johnson / 17 comments

>>Click here to view the updated version of this article on FlippingJunkie’s new blog!

Just got back from vacation and put together this video for you about how to really learn what you might not yet know about flipping houses. You can spend an eternity reading blogs and forums to gain knowledge about how flipping houses works, but most won’t be retained because it’s not being used.

You can’t expect to learn everything and become an expert before you ever start to take action. Taking action is necessary to become an expert.

Let that really sink in.

Don’t concern yourself so much with trying to fully understand every single detail and get prepared for any conceivable situation before ever actually doing something with your knowledge. That’s impossible.

Start with baby steps. Start from the beginning and make a goal to do something small and move on from there. I guarantee you will learn so much more and retain so much more. Besides, you’ll start to feel like you are already becoming an investor.

If you have any other ideas you’d like to share for things people can do to get out and start taking action, please share them in the comments below. Thanks.

Come and connect with us in the FlippingJunkie Group on Facebook! Click here to join.

Thanks for visiting,
-Danny

 

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17 awesome responses to “How To Really Learn What You Don’t Know About Flipping Houses”

  1. Kevin on

    I swear its like you read my anxious mind. I have constantly been worrying about that step from reading to doing. I have read plenty and there is a ton I don’t know but what better way then to just put it out there. Find some properties. Speak to homeowners. At least get a feel for how to speak to homeowners and investors. I want to start bird dogging and wholesaling and I always think “I’m not ready. I wouldn’t know what to look at or how to figure out this or that. I don’t have MLS access. What if. What if. What if.” It’s crippling.

    Thank you so much for this video Danny. I told all my friends to visit your site if they are interested in real estate. I have learned more on this site then anywhere else!

  2. Luke on

    You really do a good job motivating me every time i read an article of yours, but it is still soo hard to just get up and do it. I have been driving for dollars and may have some properties to pursue but the little things of knowing what to say in the letters or fear of what to say when they do call always slows me down. I am currently reading the power negotiating book by roger dawson to build confidence and really enjoy it so far.
    Was it awkward for you the first call you got? Were you nervous to meet with them?
    Great site by the way, I have to do some catching up!

  3. Thomas on

    Great video and timing for me Danny! I have been reading and reading and its just to the point where I need to be taking action and learning in the process. Taking action is where its at. I thought about joining the real estate investment club in my area but I am so introverted I didnt think it would be worth it. A lot of people mention driving for dollars but what do you do when you find a property that you are interested in? I mean I have found a few but then I usually stall in the process. Would you suggest getting homes in good neighborhoods or does it even matter if you can profit off the home if sold? Thanks in advance.

  4. MEANWHILE IN EUROPA on

    I really believe that Europe would be a great continent to start flipping homes. Some minor challenges, such as no MLS selling system may make it more challenging, but the prices are just incredible over here in France.

  5. Nichole on

    Hi Danny! I LOVE your blog! I’m learning so much! and this post is SO timely for me, as I think I’m really close to my first deal! However, I’ve encountered TWO problems! 1. ARV’s and Comps!! Ugh! how do i do these without an agent?? No one seems to be able to give me an answer on this one, and I find myself as the mercy of my buyer, because I can’t KNOW if the deals are good or not, because I don’t know the ARV.. and 2. Contracts, I have a buyer for this deal, and I have no contracts set up because I’m very unclear as to how this works and which contracts are needed? Does you’re buyer just KNOW what you’re up-charge is? and they don’t mind? Also, Do you work with the BUYERS title company? and how exactly ARE closing costs factored in?? All these realization came to me after realizing that I’m probably very close to a deal, and haven’t been able to get clear answers on these things yet!! hah! any help would be appreciated!! 😀

  6. Ronny on

    Great advice on starting to talk to other investors via conferences and through adds, which will get you in touch with other people involves these processes. You mentioned something about bank owned houses, why do you think it would be advisable to look into those? are the usually under the market value, and are they known to be better deals?

  7. Ronny on

    Thank you for your elaboration! Bank owned houses are therefore worth looking for in any case.

  8. John Flood on

    It hasn’t been that long ago that I decided to invest in real estate. Right now I am doing what almost anyone would do when starting a new adventure and that is researching. It is unbelievable the amount of information there is available to everyone who has the time to read, listen or watch the videos. I have been consuming as much as I can as quickly as I can. Yesterday when I was driving down the road, I told my wife, exactly what you wrote about in your article, “I need to get out of my comfort zone”. I need to talk to people in order to make a deal.
    The reason I haven’t called anyone or even sent out any letters is the fact that I assume that I don’t know enough of the answers yet. Your article and video just confirmed that I am definitely not alone. It’s time for the next step.