Here is the beautiful thing about making a decision. Once you decide to start, then you still actually have time before other things have to be done. Here’s an example...once you decide you are going to flip a house in the next 6-12 months, you don’t have to have all the answers at that moment. The truth is, you can make a decision with no money. That is why you don’t necessarily … [Read more...] about Amber’s Biz Tip: How Much Money Do You Need to Get Started?
It all starts with the numbers. This number might include a lump sum, an amount you’d be willing to lose if you have to sell the house quickly, or additional monthly debt payments you can handle if you end up not being able to sell the house. Then divide your budget into four parts: house purchase, renovations and carrying costs, selling costs, and cushion. Determine how much cash … [Read more...] about Amber’s Biz Tip: House Flipping Budget…Tips to Stay on Track
When you decide to flip a house it's common to then ask yourself “what next?”. Creating a business plan is a great next step for several reasons. If you are looking for a template you can find them online, but truthfully it can be done in a Word or Google document. There is no fancy software or template needed. Clarity Putting your ideas into a document with steps … [Read more...] about Amber’s Biz Tip: House Flipping Business Plan
It is natural for people to want to see results quickly. That is just truly how we are as people. We love seeing things change fast….especially if they make our life better. But when you are starting a business like house flipping its important to have patience. When you rush into things or put pressure on yourself you can make decisions that are not right for you. Keep an eye … [Read more...] about Amber’s Biz Tip: When Patience is Worth Having in House Flipping
There are a lot of people who message me about this question. They wonder if they are better off if they wait to buy their first flip until the are able to get their real estate license. If it is going to keep you from getting started then absolutely “no”. Not only that, it is not necessary to get a real estate license in order to buy a house to flip. In fact, it can … [Read more...] about Amber’s Biz Tip: The Pitfalls of Having Your Real Estate License When You Are Getting Started House Flipping