Reality television gives the impression flipping houses is a business you can start without preparation. In the real world, educating yourself is essential before you flip your first house. Reading these books increases your chance of success on your first flip.
The Book on Flipping Houses, Revised Edition by J Scott
This is the primer on flipping houses you need. Author J Scott has been flipping houses for more than 10 years and has done over 300 deals. He provides a 20-step guide to flipping your first house. He draws heavily from the experiences he and his wife had when they started their flipping business.
You’ll discover why finding financing is your first move. You’ll also learn creative ways to finance, how to choose a geographic area for your business, and how to analyze deals. BiggerPockets Publishing released the revised edition in January 2019. If you come across an older edition, you’ll still learn the basics.
Real Estate Investing Gone Bad by Phil Pustejovsky
Sometimes knowing what not to do is as important as knowing what to do. Instead of making costly mistakes with your money, you can learn from someone else’s losses. Well-known real estate mentor Phil Pustejovsky tells 21 true stories from the world of flipping and real estate investing. You’re probably not going to see stories like these on the popular house flipping TV shows. I didn’t include this book to scare you away from flipping. I want you to be aware of what could go wrong if you’re not careful.
The Book on Investing in Real Estate With No (and Low) Money Down by Brandon Turner
Even if you’re not struggling to finance your first deal, this book is for you. Brandon Turner is an experienced real estate investor and co-host of a popular real estate podcast. He shows you non-traditional ways to finance your deals. Turner has used many of these methods in his real estate business. You’ll also discover how to analyze deals and pitch to private lenders. Don’t skip this book because you have financing for your first deal. You may need some of these strategies for future transactions.
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