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Wanna Be a House Flipper? Joe Gorga Is Sharing His Tips for Success
The Real Housewives of New Jersey husband recently shared some of the secrets to his success.
Joe recently sat down with New Jersey talk show host Steve Adubato to discuss his new book, The Gorga Guide to Success, along with his recent real estate seminars. Joe also doled out some coveted advice and investment tips to would-be flippers. We’ve got his top four below.
1. Work Hard
First, Joe advised potential flippers not to think the process is going to be easy. As with anything, you need to fully commit and give it your all: “I made it through hard work, and that’s all it takes. Just get up and go to work and give it 100 percent.”
2. Find a Good Deal
Second, you have to put in the time doing the research to line up a good property. “You have to find the right deal. Without finding the right deal, or you don’t have the right agent, or you don’t know what you’re looking for, you’re going to lose money," Joe explained.
3. Don’t Overpay in an Overheated Market
Third, Joe advises taking a long look at the market to find a good pocket where money can be made. “People are overpaying right now. The market is insane right now… it’s flooded,” he said, but he added, “Anything below $700, 000, we are selling like hotcakes.”
4. Don’t Think You’re Not Cut out for It
Lastly, Joe advises that young and old alike can see an income stream from real estate, so don’t underrate your own potential. “This is the time you can invest in real estate. Don’t be afraid, this is your retirement. Holding real estate, an apartment, or a multiple family home — this can change your life.”