Question by helloitsme123123: I am thinking about flipping houses. I am only 20 years old is it possible for me to do this?
I am reallying thinking about flipping houses for a living because it seems really fun and rewarding. I am going to be taking construction courses at my school and most likley majoring in real estate. Is it possible for someone like me at such a young age to start flipping houses? Is it possible for me to get a loan from a bank to maybe start this process? Please give me any help or advice that you can. Thanks.

Best answer:

Answer by dragonbot
I’m trying to get into the same thing myself, but I recommend getting a day job and using extra money to buy houses, putting very little into them and reselling them. Good luck, you’ll need it.

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‘Probate’ is probably the most misunderstood and over-looked aspect of investing- in terms of uncovering motivated home sellers and as a result undoubtedly Huge profits. It’s possible that you have muttered the following words “forget that house, it’s in probate” or “that one’s a probate and they take too long” and/ or you may have heard another investor say something similar to this.

WRONG! The general scarcity of awareness within the real estate investor industry makes this another niche strategy to having the ability to perpetually create some profitable deals where there is minimal competition. Education is required as a means to learning the exact system that must be followed to implement this technique but should not be considered an obstacle.

In ‘Probate’ you can expect to analyze these opportunities from the same due diligence standpoint as you would certainly perform with other deals:

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• Existing title issues that may produce certain hurdles?

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It’s paramount that a well rounded real estate education is essential in order that you will be able to make money during the course of market changes.

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Check this out, the experienced ‘Probate real estate investors’ know that they’ve hit pay dirt with this motivated seller goldmine. They aren’t real happy to have their niche become so accessible and would prefer to have these deals to themselves while watching you scramble around on short sales. As long as you have your game plan in place and understand what you’re doing, maybe have a mentor- there’s an abundance of deals out there- go out and get yours!

Exactly why are probate sellers motivated to sell to an investor?

• Powerfully painful memories of years and relatives gone by creating an overwhelming desire to move on.

• Shortage of funds to keep up the mortgage payments, taxes and insurance.

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The ‘Probate’ process observes certain state specific guidelines but they all come down to the necessity of satisfying the debtors claims and owners must liquidate these properties quickly, this is where you come in.

Every great real estate deal has to ultimately be structured as a win-win experience for everyone involved. It’s true that most everyone prefers to receive as much as possible for his or her property or home while you being an investor consistently requires a cheaper price or better terms in order for it to make sense.

It’s the exact same scenario in ‘Probate’- while you will be making a profit by helping someone to liquidate their property, you’ll be charged with the duty of creating win-win circumstances that everyone will be content with.

Finally on the subject of ‘Probate’-by identifying yourself as a probate investor, you have  a significant advantage over your local competition and can quite possibly be  perceived as the expert in that arena, creating many, many opportunities to deal directly with sellers, to mentor others and to partner in referral arrangements.

Suppose that you are the only investor in your county that has studied and specialized in probate investing, the person that is undoubtedly aware of the deep discounts you can get for these deals and the HUGE profits accessible because of it?

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Should you choose to absolutely take your real estate investing enterprise to the height of its success, the height of its profit potential – I firmly recommend that you learn and become proficient as a ‘Probate Real Estate Investor.

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