How Did You Start Flipping Houses?
If you flip houses, how did you start, describe the first house you ever bought to flip? - Question on Quora.com
In my opinion, the best way to start flipping houses is to buy a live-in flip that needs a ‘cosmetic rehab’.
My first flip project was my first personal residence. The property needed a new kitchen, new bathrooms, new flooring and paint. Other than that, the home was structurally sound, so it was a pretty straight forward cosmetic rehab.
I ended up renovating the entire house myself with the exception of a few MEP (mechanical, electrical, plumbing) items that I subbed out…
I started by renovating the hall bathroom, moved on to the kitchen, & gradually updated the rooms throughout the house. This allowed me to rehab the property at my own pace without the pressure of deadlines from banks, lenders & business partners.