House flipping has become an increasingly popular way to turn a profit in the real estate market. With low barriers to entry and the potential for high returns, anyone can learn to flip houses relatively quickly. Today, I will be start a multi-episode series on how anyone can master the art of house flipping like a pro.

House flipping is an exciting and potentially lucrative venture that involves buying a distressed property, renovating it, and selling it for a profit. The best part is that anyone can learn it pretty quickly because of the low barrier to entry. In this multi-episode series, I will be sharing the secrets of successful house flipping, including how to find the right property, how to calculate the costs, how to design the perfect renovation plan, and much more. By the end of this series, you will be equipped with all the knowledge and skills you need to succeed in house flipping.

In this article, I will discuss two essential steps that you need to know to get started with house flipping.

Step 1: Conduct a proper background check
Conducting a proper background check is crucial before venturing into the house flipping business. The first thing to do is research areas that are either developing or would soon be developed. These areas are more likely to increase in value, and buying a cheap property in such an area could potentially bring in significant profits. Once you have identified a potential area, it's time to search for a distressed property in the area. You can do this by either driving around the neighborhood and looking for "For Sale" signs or searching online.

If this process seems challenging, consider outsourcing to a reputable real estate agent. They will have the expertise and experience to find the right property in the right area. Once you have found a suitable property, it's time to move on to step two.

Step 2: Confirm the authenticity of the house
After finding a property to buy, it's crucial to confirm that the owner is the rightful owner and has all the necessary documents required by law in Nigeria. These documents may include title documents, building approvals, utility bills, and tax receipts. You should also confirm that the property is not subject to any legal disputes.

To confirm the authenticity of the presented documents, you can verify them at the local land registry. You can also hire a lawyer to help you confirm the authenticity of the documents and ensure that the property is free from legal disputes.

In the next episode on Friday, we will dive into step three, which is assessing the value of the house. Stay tuned for more valuable insights and tips on real estate investing.

Regards,
Lukman Shobowale