Yeah, if you're just putting it in another bedroom, you can buy pre-cut/terminated lengths and a splitter and be up and running in 5 minutes. If you have to cut it, that's a whole other ballgame.
You have to strip coax twice. Basically you have to strip back the outer insulation, exposing the braided shield, then you strip the dielectric (the translucent clear plastic stuff) to expose the center conductor.
The center conductor is easy enough, however you'll want to crimp the sleeve to the braid, otherwise you won't ground the shield. If you nick the braid while stripping the outer insulation, the fibers of the braid will break, then the shield won't work. So- when you're stripping it, just lightly score the outer insulation without cutting through it, then flex it back and forth until the insulation breaks, that way you won't nick the braid and weaken it.