Step 1 · 2–6 weeks
Find Distressed Properties
The profit in a flip is made the day you buy, not the day you sell. Build a pipeline of motivated sellers and off-market deals before competing on the MLS.
Learning objectives
- Define a target market (1–3 zip codes)
- Build at least 3 deal sources
- Generate 20+ qualified leads per month
Tactics that work
Direct Mail
Mail yellow letters or postcards to absentee owners, pre-foreclosures, tax delinquents, and inherited property lists.
Driving for Dollars
Drive target neighborhoods and log signs of distress: overgrown lawns, boarded windows, code violations.
Wholesalers & Agents
Network with local wholesalers and investor-friendly agents who bring you deals before they hit market.
MLS Filters
Search expired listings, price drops >10%, days on market >60, and keywords like 'as-is', 'TLC', 'cash only'.
Numbers to know
Leads to deals
~50:1
Marketing budget
$500–2k/mo
Avg time to first deal
60–90 days
Pro tip
Talk to 10 motivated sellers before you ever submit an offer. Listening teaches you what real distress sounds like.
Pitfalls to avoid
- Chasing on-market deals in hot zip codes
- Spreading marketing across too many channels
- Skipping follow-up — most deals close after contact #5