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It really isn't worth doing in many cases. Unless you work at it full-time, only stick to areas that have high housing inflation rates, like Miami, Phoenix, etc... In those cases you can buy a decent house with minor or no repair needed and sell it for 40% + more a year later. To do it seriously though, you need many good contacts, as with anything. You need get well aquainted with major construction/repair ppl in the area, bankers, etc... That way you can look for homes in say, mill towns, and get them for 10-20K each on a line of credit. Hit up your contacts and within a week or two you should get an average of 25% return. The better the contacts, the faster you can move more than one property per month, the more you make... because you don't even have to pay interest on your credit line then either.
Anyway.. bottom line.. the more ppl you know and the more you plan the better.. more cash to startup is obviously good too... there are just so many ways to go about this...
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