Best Books on Flipping Houses

The post Best Books on Flipping Houses appeared first on Millennial Money.

If you’re here, you’re probably thinking about becoming a house flipper by buying and selling homes for profit. This could be a great strategy—and one that can potentially help you get ahead in the real estate market. 

But at the same time, flipping houses is expensive, risky, and requires a lot of hard work. As such, it pays to do your due diligence before diving into the market. 

One of the best ways to get started is to hit the books! This article highlights the 15 best house flipping books on the market. 

15 best books for flipping houses 

1. The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties by J Scott

Any time you’re thinking of doing something new, it’s a good idea to seek expert advice—and J Scott is one real estate expert you should consider. 

J Scott is the creator of the website 1-2-3 Flip, and his work has also been published through BiggerPockets Publishing. 

In this book, J Scott provides a step-by-step guide for succeeding in house flipping. Scott offers insights on flipping during fluctuating economic cycles, conducting renovation projects, how much you can earn, and common financing options, among many other topics.

Check out this book for a comprehensive overview and beginner’s guide to house flipping. You’ll walk away with a solid understanding of the market. 

2. The Book on Estimating Rehab Costs: The Investor’s Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs by J Scott

A big part of flipping houses involves fixing them up and restoring them to maximize your return. 

However, home renovations can be an incredibly complicated process—and one that requires a lot of care. The last thing you want to do is rush in and start renovating a place without considering all the details.

This is another topic where J Scott provides a wealth of experience. J Scott explains how to accurately estimate all the costs you will face during a project, as well as proven strategies for evaluating renovation costs and making upgrades.

This book is worth it whether you intend on making your own renovations or hiring a team of contractors to work for you.

3. FLIP: How to Find, Fix, and Sell Houses for Profit by Rick Villani and Clay Davis

House flipping looks easy. But the fact of the matter is that it can be very difficult. 

It’s a multifaceted challenge that involves navigating buying, fixing, and selling a house, none of which are simple. 

In this book, Rick Villani and Clay Davis provide an overview of their process for analyzing investments, making improvements, and putting a house on the market. 

Learn more:

4. The Millionaire Real Estate Investor by Gary Keller

Flipping houses is just one component of making money in real estate investing. If you want to excel in the market, it’s a good idea to learn as much as possible. 

One of the most comprehensive real estate books on the subject is “The Millionaire Real Estate Investor,” which teaches the fundamental components and driving factors behind real estate. 

In the book, Keller covers a variety of topics like myths that hold people back from real estate investing, how to achieve the best possible deals, and proven models for tracking net worth, to name just a few. 

5. The Flipping Blueprint: The Complete Plan for Flipping Houses and Creating Your Real Estate-Investing Business by Luke Weber

There’s no need to reinvent the wheel when selling real estate. Stick to practices that work and you’re bound to save time and energy while increasing your odds of success.

“The Flipping Blueprint” presents a working model you can use to flip houses successfully. Weber provides tips on presenting yourself to other real estate professionals, talking to private lenders, and protecting yourself in the market. 

This book can help you gain a leg up in the market and save a significant amount of resources in the process.

6. The Book on Investing in Real Estate with No (and Low) Money Down by Brandon Turner

The best way to flip houses is to save up enough cash to fund your purchase so that you don’t have to rely on funding or get creative about financing. That’s often easier said than done, however. 

So, you may want to move forward in real estate without waiting for money. It’s possible to pull this off! But it’s going to take some work. 

Start by checking out Brandon Turner’s classic, which explains how to get started in real estate even if you lack a sufficient amount of cash for a down payment or closing costs. 

7. How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started by Joshua Dorkin and Brandon Turner

If you’re new to real estate and house flipping, it’s critical to have a “why” before moving forward. You need to thoroughly understand your goals and form a solid road map that will help you get there.

In “How to Invest in Real Estate,” Joshua Dorkin discusses why you should consider real estate investing and how to get started. You’ll learn all about building wealth through passive income, scaling your real estate footprint, the various types of real estate investment opportunities, and different strategies, among a host of other things. 

Learn more:

8. Investing in Real Estate with Other People’s Money: Proven Strategies for Turning a Small Investment into a Fortune by Jack Cummings 

Jack Cummings is one of the most well-known experts in strategies and techniques for getting ahead in real estate.

In this book, Cummings provides ways to increase property value without spending much money—a critical skill for flipping houses. This book is useful for everyone from novices to seasoned real estate veterans.

9. How to Flip Your First House: The Beginner’s Guide to House Flipping by Jeff Leighton

There are an overwhelming amount of options and tips to consider when flipping houses, making it difficult for beginners to know where to start. 

In “How to Flip Your First House,” Jeff Leighton offers a simple process to help real estate investors cut through the noise. Leighton explains proven strategies for finding discounted properties, tips for flipping different types of deals, and transitioning from your first deal into a successful flipping operation. 

10. Fix and Flip Your Way to Financial Freedom by Mark Ferguson

House flipping is all about money. You’re not buying a property to live in or rent when flipping. You’re buying to make a profit. 

That being the case, it’s critical to master the financial side of house flipping.

In “Fix and Flip Your Way to Financial Freedom,” Mark Ferguson talks about things like financing through banks, private money lending, and other key topics. 

11. Flipping Homes Like a Pro by Stephen Cook

Don’t limit yourself when house flipping by thinking small. It’s possible to master the market and make a substantial amount of money. And the sooner you embrace that, the faster you’ll be on your way toward building a successful real estate business.

Read Stephen Cook’s “Flipping Homes Like a Pro” to learn things like reducing risk, selecting the right properties, and working with brokers through 33 chapters of expert knowledge and advice from a successful real estate investor.

12. Rental Property Investing: Know When to Buy, Hold and Flip by Socrates Media

Finding a great rental property is only half the battle. Next, you’ll have to understand what to do with it.

Investors often struggle to know when to buy, sell, or hold a rental property. One of the best books on the topic is “Rental Property Investing,” presented by Socrates Media. 

This book explains the best conditions for buying, holding, and flipping properties. It also provides key insights into how to be a successful investor—like avoiding certain kinds of properties.

Learn more:

13. The Business of Flipping Homes: Short-Term Real Estate Investing for Long-Term Wealth by William Bronchick and Robert Dahlstrom 

Bronchick and Dahlstrom together have over 40 years of experience buying and selling properties, making them a great resource for learning about flipping. 

In this book, the duo explains how to make money fast when flipping houses, along with some key pitfalls to avoid along the way.

14. Fix It and Flip It: How to Make Money Rehabbing Real Estate for Profit Even in a Down Market by Gene Hamilton and Katie Hamilton

You have to work fast and save money when flipping homes, turning properties around quickly while staying under budget. This book explains exactly how to do it. 

You’ll learn practical tips for remodeling and reselling properties, handling financial issues, managing daily workloads, and selecting properties. 

This is a must-read for anyone new to real estate flipping.

15. Real Estate Investing Gone Bad: 21 True Stories of What NOT To Do When Investing in Real Estate and Flipping Houses  by Phil Pustejovsky

Sometimes the most effective thing you can do when learning real estate is to analyze how others have screwed up. 

In this book, author Phil Pustejovsky explains 21 true stories of investing deals that went south—and the key lessons you can take away.

You’ll learn cringe-worthy tales of investors who lost millions of dollars and wasted years of time while learning valuable lessons to help you avoid the same fate. 

If you’re getting serious about real estate investing, it’s well worth the read.

Quick tips for flipping houses

You’re going to pick up countless house flipping tips as you read the above-mentioned books. Here are three more to keep in mind.

1. Hire reliable contractors 

The contractors you work with are every bit as important as your real estate agent. 

You need a team to help assess renovation costs and advise about what products to buy and when and where to make upgrades. 

Find reliable, trustworthy contractors committed to saving you money and keep them on standby. They’re going to make or break your experience flipping houses. 

2. Think about your next properties when buying 

Flipping houses is a bit like playing chess. You have to think ahead and make moves that will set you up for future success. 

If you spend too much money or buy a property that doesn’t sell, you could lose your chance at springing for a future property down the road. 

For the best results, think strategically. Don’t be afraid to walk away if you don’t like a certain deal. Another opportunity is bound to open up soon.

3. Location is key

This can’t be overstated: Location is critical when buying real estate. 

Get to know the local area where you’re buying and keep your eyes peeled for value properties in great locations. Sometimes a location is even more important than the condition of a property. 

Frequently Asked Questions

Is my house a real estate investment property?

Any property that you own is technically a real estate investment. 

However, there’s a big difference between an investment property and a personal house. 

An investment property is one that you purchase specifically for making money, either quickly through flipping or over the long-term through renting. The house you live in is primarily for long-term growth and stability.

Is house flipping smart for newbie investors?

It depends on a few different factors, including your cash flow, your ability to learn, and the team of experts you have around you. 

Generally speaking, house flipping is risky and better saved for experienced investors. 

However, anyone can excel at house flipping. Plus, every expert had to start somewhere! Who knows? Maybe you’ll have the magic touch right out of the gate. 

What is wholesale real estate?

Wholesale real estate investing involves finding people who want to sell properties and working with them to find a buyer and negotiate a deal. Wholesaling requires a lot less work and investment on your part, making it more appealing for people who are just starting out in the industry.

Is it better to start a house flipping business or rent?

It largely depends on your goals and strategy. However, you don’t have to stick exclusively to one strategy. 

Once you get a solid business started, you can flip houses while owning rental properties as long as you have a steady cash flow to support multiple endeavors. Renting tends to be more profitable over time, whereas flipping is better for producing quick gains. 

The Bottom Line

Still thinking about a career as a real estate investor? Head to Amazon or your local library and start reading or listening via audiobook. 

Anyone can learn the art of flipping properties, and in time, it can lead to profitability and financial freedom. By taking the time to learn how to become a serious real estate investor, you could set yourself up for a successful career while doing something you love. Happy house hunting!

The post Best Books on Flipping Houses appeared first on Millennial Money.

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