Real Estate Talk

Greg Brooks – House Flipping or Flopping In this episode, Greg Brooks joins in to discuss flipping houses. First, he learned the ins and outs of mortgages. Then one day, a guy called him and said he knew about a relationship Greg had with the bank. His first flip was sold to a guy he didn’t even know, and he was called to help him negotiate with the bank. Later, the guy called back saying he was ready to do it again. Right now is the most dangerous time to get into this industry. The margins are very thin because the wholesale side has become extremely expensive.   Real estate is all about location, and this is what Greg looks for when buying a house. You also have to look at some other factors like the exterior of the home. If the exterior of the home is unkempt, you can assume the inside of the house is even worse. Days of buying homes on auction websites are done. Greg uses cash on hand to purchase a home he is going to flip. If you are using a private investor or another source of money, be cautious