Jak zrobić PIERWSZEGO Flipa?

Summary

In this video, Filip Kowarski shares strategies for making your first real estate flip, breaking down four key questions: how to finance it, how to find the time, how to spot a good opportunity, and how to execute the flip. He discusses financing options including cash, mortgages, and sourcing opportunities from other investors. Filip also emphasizes the importance of finding deals through agents, the internet, and personal connections. Lastly, he suggests that renovations aren’t always necessary for a successful flip, focusing instead on spotting the right opportunities in the market.

Takeaways

• 😀 **What is a flip?** A flip involves buying and selling a property for profit, sometimes with renovations to increase value, though renovations are not always necessary.
• 😀 **Financing options:** You can finance a flip using cash, a mortgage, loans from family, or by partnering with someone who provides the capital.
• 😀 **Creative financing:** If you don't have enough funds for a full purchase, consider seller financing (getting the property with a deposit and paying the balance upon resale).
• 😀 **Flexible work arrangements:** With remote work or flexible schedules, you can take time during the day to inspect properties, negotiate deals, and close transactions.
• 😀 **Sourcing opportunities:** If you lack capital, you can focus on sourcing deals for other investors and earn a commission for finding great properties.
• 😀 **Time management:** Even with a busy schedule, you can find time for a flip by dedicating a small amount of time each day or week for property viewings and negotiations.
• 😀 **Partnerships:** You can collaborate with someone who has money but lacks time, or vice versa, to jointly execute a flip, splitting the profits.
• 😀 **How to find opportunities:** The best opportunities often come from real estate agents, the internet (using tools to get real-time alerts), and through networking (like handing out business cards).
• 😀 **Flip 2.0 model:** You can flip properties without making significant renovations by identifying properties that require minimal work to sell for a profit.
• 😀 **Using the internet effectively:** Be quick to respond to online listings or focus on older listings that have been overlooked by others to find hidden opportunities.
• 😀 **Networking is key:** Build a network by distributing business cards and making connections with people who might have properties to sell, such as taxi drivers, hairdressers, and others in your community.

Q & A

What is a 'flip' in real estate?

A 'flip' refers to buying a property with the intention of selling it at a profit, often after making improvements or renovations to increase its value.

Is it necessary to renovate the property when flipping?

No, renovating the property is optional. While it can increase the property's value, it's not always necessary to achieve a profit if you can find a good deal.

How can I finance my first flip if I don't have enough cash?

There are several financing options: you can use your savings, take out a mortgage, partner with a family member or friend, or find investors willing to fund the project while you manage the deal.

What is 'sourcing' in real estate flipping?

Sourcing involves finding profitable property opportunities and passing them on to other investors. The person who sources the deal typically earns a commission or a share of the profits.

How can I find time for property flipping while having a busy schedule?

You can manage time by committing to small, consistent efforts like scheduling one property viewing a day. Additionally, if you work from home or have flexible hours, you can view properties during your breaks or free time.

What are some good sources for finding property deals?

Good sources for property deals include real estate agents (brokers), online property listings, personal connections like family, friends, or acquaintances, and using tools that alert you to new listings.

How can I find opportunities without using my own money?

You can partner with investors who provide the funds while you handle the property search and deal management. Alternatively, you can also source properties and sell the opportunities to other investors for a fee.

What role do real estate agents play in finding deals?

Real estate agents are valuable because they are constantly working in the market and can have access to great opportunities. They may not always want to invest themselves, but they can bring you deals if you build a good relationship.

Why should I consider focusing on finding property deals on the internet?

While it may seem competitive, using online platforms efficiently (e.g., monitoring listings quickly or targeting older listings that others may overlook) can yield profitable opportunities.

How can I use networking to find property deals?

Networking involves building relationships with people who might know of potential property sales. You can hand out business cards or flyers saying 'I buy properties for rental' to increase awareness among your contacts.