How to start a business in flipping houses?

To start a business flipping houses, you will need to create a business plan, obtain all necessary licenses and permits, and find suppliers and contractors.

1. Create a business plan

   For a business such as flipping houses, creating a business plan is essential. You will need to know your budget limitations, ensure that you can legally flip in your desired location, and look into demand and competition in your area.

2. Obtain Licenses and Permits

   Requirements will vary from state to state, so it is important to know which licenses and permits are required where you plan on flipping. Be sure to apply for an EIN number which is an employer identification number.

3. Find Suppliers and Contractors

   Networking is essential for flipping houses. You need to build solid relationships with suppliers and contractors so you can keep costs low and keep your flips efficient. Even if you plan on doing the majority yourself, finding a trusted general contractor is essential to check over plans and confirm accuracy with regard to cost and timeline.

4. Assemble a Team

   If you want to find investors, once you have a plan and permits, this is the time to do it. You will also want to find a team of realtors to work with you in finding potential flips and selling finished products.