What do I need to learn if I am interested in flipping houses?

Question

Would I need a real estate license? What classes if any would be helpful so that I can sell the homes myself?

Answer 1

You need to learn alot - go get some books on this and read them.  As to the license, you don't need one and most investors don't have them, but its a really good idea.  Of course it lets you list and find houses on the MLS by yourself and saves alot in commissions.  Also it gives you much better access to the info you will need to find and price homes, but there are costs to having a license.  You can, of course, sell the homes without a realtor but its alot easier if you are a realtor.  Also, the class you take to become a realtor teaches you alot and is itself helpful, so I'd go ahead and sign up for the realtor class and take that to start the whole thing.

Answer 2

No, you don't need a real estate license to flip houses.  Flipping isn't as profitable as it used to be since the housing slump...kind of risky.  When houses were selling like crazy back in 2003-2005, it was easy to flip and make a profit.  But houses are on the market so long, it will eat up your profit.  To be successful in flipping, you have to buy low, preferably in a good location, have a strict budget and stick to it, and sell high.  It is very important to have a VERY dependable team of knowledgeable contractors, that will meet your deadlines.  Successful flippers normally have a lot of common sense about things, a talent not everyone has.