[hmkpoker]

Tien-

From the link you posted,

[ QUOTE ]
Now, the next thing you do is go out and try to find a property that you can flip. I guarantee if you try the right neighborhoods and you spend a weekend, you can compile a list of 10-30 boarded up, abandoned properties. If you can compile 30 of these, now it's time to track down the owners. Look in the tax collectors files. Find the owners mailing address, ask the neighbors if they know where the owner is. Do whatever you can to track down these owners and call them. Negotiate the best all cash price you can do ala Ron LeGrand. "Is that the best you can do?"Listen to what Ron says in his course, I think it is dead on. Get them under contract, you'll find the contracts in Ron's course, or from Legalwiz.com. Once you get them under contract, sell them to one of your investors. If you bought it right in the first place, then you should be able to assign your contract in the matter of a few days. It's really that simple, and you should walk away with $3,000-$10,000. Once you do that, you'll never wonder if this real estate business works again.

So, let me break it down again.
1. Compile your investor list.
2. Drive around looking for abandoned properties
3. Track down the owners
4. Make offers
5. Get the property under contract
6. Sell the contract to another investor
7. Walk with $3-10,000

Don't go for the "home run". Just try to learn a bit and make a few thousand dollars. Don't rehab the property. Just wholesale it. I know you think you can renovate this and make $30-50,000. Don't do it. Just get the money. That $5,000 sitting in your hands will do wonders. Your eyes will start to open, you'll see more deals. Things will come your way. If you feel that the next one you want to rehab. That's fine, you'll have that $5,000 sitting there to protect you. Maybe take a grand out of the money you make and just blow it. Take another $500 and buy some courses. Maybe Steve Cook's wholesaling course, or Bronchicks Nuts and Bolts of Creative Real Estate Financing. But, definitely hold onto some of it.

[/ QUOTE ]

Can you post/link a trip report about your first flip? This sounds pretty interesting.