How Should I Buy My First Property To Flip?
Thank you for looking at my topic. I am as new as you can get to REI and I need a good template for purchasing and flipping my first property. When replying assume I know absolutely nothing and start from step one... finding the property, making a bid, how to finance (best way), etc... and then how to sell for profit, closing and the such. Any help will be great. Thank you 
CHEAPLY!
You realize that you're practically asking for a seminar as a response to your post don't you?
Course writers have made alot of money explaining what you've asked here. Short of that, I recommend spending at least an hour or so each day for a while right here on TCI. You'll learn enough to start to understand some of the basics. Once you have that, your questions won't be so general in nature, and will be easier fo give quality answers that you'll understand.
Jeff
I know I'm fishing for a lot of info but the only dumb question is the one not asked.
I'd like to have my first deal done in 45-90 days. I have a few books with a lot of good ideas but they don't lay out a deal like I would like. I read in a column here that you should have a buyer for the property before your inspection period is over and then you don't need financing but I didn't realy understand how. Is that a realistic way to flip my first property? If not, where should the money come from? I can't thank everyone enough for any experiences you could relay to me.
There are two ways you could consider doing this. One you actually negotiate a contract that you pass on to another investor, or rehabber, etc. The other would be to find the property, and pass the information on to the investor/rehabber for a fee. With the first way, depending on the local customs, you may have to bring funding to the deal for ten minutes actually buying the property, and then selling it ten minutes later to your buyer, or have the seller execute the paperwork to sell, have your buyer execute the paperwork to purchase, and you extract your amount from the funding brought to the table by your buyer.
Keep in mind that if you intend to wholesale, you need to be purchasing properties at a deep discount so you can leave enough profit in the deal to attract another investor.
If you intend to retail, CaseyEllsworth has given excellent advice.
The second method I mentioned is called Brid-dogging. There is a forum on this site, and course information available as well. I consider Bird-dogging an excellent way to get started if you are timid, and not yet ready to make the plunge. It is an excellent way to learn how to generate leads, and learn from those that you work with. It is an Earn-While-You-Learn concept that is an effective way to go.
Good luck,
Jeff