(Hint: It’s not for everyone...check to see if you’re in the mix) As someone who started out flipping a single house just to see if it was something that I enjoyed I know how uncomfortable it can be to try something new. Especially when you’re truly starting from square zero. After completing that one flip successfully I knew that I could repeat those steps and … [Read more...] about Who May Be a Good Candidate for House Flipping?
Fund a Flip
Flipping houses can be a path to a small or larger business depending upon your goal. It can also result in blown budgets and small returns if you’re not mindful of the process. To ensure you’re making the most of your investment and time wisely, you'll want to spend some time thinking about what you can expect. If you've never flipped a house before, but the thought of being your own … [Read more...] about Not So Frequently Asked House Flipping Questions
In thinking about the post for this week I thought about some of the conversations that I’ve had lately with people who have experienced renovations. For those who have lived through the process the majority of people fall into one of two camps. One the one hand they enjoyed going through it and would consider doing it again. On the other hand are the people who either never got … [Read more...] about Top 5 Ways to Avoid a Renovation Nightmare
Running the numbers for a flip is not as difficult as you may think. But it is important. Here, we're going to walk through the process and the different groups of numbers that you'll need to use to calculate whether or not a project is a green light or a pass. In order to determine if a project is profitable you are going to need to put some examples together with numbers to see how they … [Read more...] about How to Run the Numbers on a Flip Project – A Step-by-Step Guide
Mistakes happen. The benefit to making those mistakes is that you then walk away with the opportunity to learn from them. Ever heard the phrase “fail fast”? For the final post in this series to kick off the new year I am sharing a few of the most important lessons I have learned over the years. A few of these lessons were uncomfortable to go through at the time but ultimately they … [Read more...] about Lessons Learned From Building a Successful House Flipping Business