By Ralph R. Roberts, Joseph Kraynak

Part of Flipping Houses For Dummies Cheat Sheet

The first step in the house flipping process is the most crucial to your success — finding a property or properties with profit potential. Following are some ideas of where to look:

  • Look for dontwanners in your neighborhood — vacant, unkempt homes the owners “don’t want.”
  • Search on Auction.com.
  • Read local foreclosure notices, available through your county’s sheriff’s office or register of deeds.
  • Contact banks to find out about real estate owned (REO) properties.
  • Network with probate, bankruptcy, and divorce attorneys.
  • Search HudHomeStore.com.
  • Team up with a Realtor.