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Plan your flip at least as carefully as you would plan a two-week vacation. Other chapters in this part can help you lay the foundation for a successful flip.

Building an All-Star Team

When you’re gambling with more than $100,000 of your own or someone else’s money, learning by trial-and-error can be catastrophic. A safer way to develop the skills and foresight needed to reduce costly mistakes is to learn from others. Develop your own house flipping team and rely on the following professionals to guide and educate you:

 Real estate agent

 Financier/lender

 Accountant

 Title company

 Appraiser

 Home inspector

 Real estate lawyer

 Contractor

In ssss1, I describe the role that each of these valuable individuals plays on your team, and I provide some criteria for selecting the best of the bunch. I also devote an entire chapter (ssss1) to building and managing a rehab team.

Finding and Buying a Flippable House

Finding and buying a property is a four-step process:

1 Scope out a fertile neighborhood — often an area with homes that are at least 20 years old.See ssss1 for details.

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