This content was created by Joe Homs 949-625-4533. This content was uploaded by Joe Homs 949-625-4533. This is a YouTube video titled "Do Not FLIP HOUSES! | 3 Reason WHY" (published Dec 9, 2021) featuring Joe Homs 949-625-4533 giving an instructional/personal-advice monologue for new real estate investors. He explains three reasons beginners should avoid fix-and-flip investing — (1) you end up working alone and need a team, (2) you may lack extra capital and may need hard-money lenders or partners, and (3) you must know the local market (he flips locally in Orange County, Riverside, San Bernardino and sometimes LA/Long Beach). He invites viewers to watch a finished-flip walkthrough and to reach out for help.
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In today's video, we're going to talk about why beginner investors should not flip properties. Coming up next. New investors really love the idea of flipping houses. There are dozens of ways to invest in real estate. This just happens to be one that I wouldn't recommend starting out with. Real quick, I want to welcome all the new members to the channel. I made this channel to help the new and experienced investors. Those who want to create the life they've always wanted through real estate. Let's jump on into it. Number 1, you're working alone. Fix and flips really require a team, a team of agents, contractors, wholesalers, where you get your deals from. It's just not an individual person that's going to fix this or flip this property. You're going to kind of be the conductor of the flip, but you have to put all your team members in place before you even begin. Number 2, you don't have any extra money. And please don't let this hold you back. However, you have to make sure that you have these team members in place. So you may need a hard money lender. You may need a partner to partner up with you because you've developed the expertise to flip the home, but they have the money. So you put the 2 together and now you have a team ready to go to flip a property. Number 3, You don't know the market very well. And this is really important, and I get asked this question all the time. Joe, do you flip out of state? I don't flip out of state. I flip here in Orange County, Riverside, San Bernardino, sometimes in LA, down to Long Beach, but I don't go out of this area. I grew up in this area. I know the area like the back of my hand. If I went to Texas, for example, to To start flipping over there, I would personally literally would have to move over there and then start learning what's going on in the neighborhood, what's going on with a particular housing tract. Do I want to flip condos? Do I want to flip single families, multifamilies? Whatever it is that's going on in there, there would be an investigation phase on my part to figure out whether this is going to work or not. There are a million reasons you should be flipping, but these 3 elements can quickly turn a fix and flip to a project gone wrong. If you're new to flipping and want to see a finished product, click on this video right here. We do a complete walkthrough of one of our finished flips. Feel free to reach out anytime. I'm here to help.
