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