Before you start flipping houses with no money, you need to become an expert on your local real estate market. Find out what the standard price for a fixer-upper is and compare it with the final costs of a brand-new house. You’ll need some expertise in home renovation, so look at the costs of a home-renovation project in the area and get a rough idea of how much it will cost. Finally, network with local buyers to see what their price range is and what they will pay for a renovated property.