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Expect The Best And Prepare For The Worst In House Flipping Deals

A solid cost projection is one of the most important things that you have to establish if you want your house flipping deals to succeed.

house flipping deals

photo credit: Mukumbura via photopin cc

One of the biggest costs you will incur for the entire project, other than purchasing the property, would be expenses. If you become too casual in how you handle your financial projections, you will land yourself in big trouble.

Murphy’s law states that “whatever can go wrong, will go wrong.”

Murphy’s law applies not only to many areas of our lives but it also applies to house flipping. You can handle Murphy’s law by expecting, anticipating and planning.

Time Is Not Your Friend

When flipping houses, you should try as much as possible to

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Expect The Best And Prepare For The Worst In House Flipping Deals

A solid cost projection is one of the most important things that you have to establish if you want your house flipping deals to succeed.

house flipping deals

One of the biggest costs you will incur for the entire project, other than purchasing the property, would be expenses. If you become too casual in how you handle your financial projections, you will land yourself in big trouble.

Murphy’s law states that “whatever can go wrong, will go wrong.”

Murphy’s law applies not only to many areas of our lives but it also applies to house flipping. You can handle Murphy’s law by expecting, anticipating and planning.

Time Is Not Your Friend

When flipping houses, you should try as much as possible to accurately estimate your holding time. The longer you hold on to property, the higher your chances are of

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How To Make A Huge Profit On One House Flip

Have you ever gotten emails from real estate investing “experts” claiming they can help you make a huge profit on one house flip?

huge profit on one house flipI have and I can tell you that they are nothing but hype-filled emails. What I’m about to tell you is not hype but a fact.

I made $56, 135 in one house flip.

I too couldn’t believe it but I can tell you for sure that it’s possible to make such a huge profit and even more from one house flip.

Sick And Tired Of Over-Hyped Headlines?

I’m tired of gurus who over-hype their messages and claim to know the secret to reaping huge profits from real estate. I won’t dwell so much on this topic but just to be clear, I don’t usually make $56, 135 on single house flips all the time.

Typically, I make around $20-30, 000 which is not a bad figure at all. 14 months before I made my $56, 135, I’d made a profit of

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How To Overcome The Fear Of Investing In Real Estate

fear of real estate investing

I was curious about what really fuels the fear of real estate investing so I did a little survey on real estate investors.

I’ve done lots of survey and talked to lots of new investors about what prevents them from getting started investing in real estate and house flipping in particular.

So at the last few House Flipping School MeetUps, I've been asking new investors what's holding them back.

I expected that some of the answers I would get would include:

  1. I’m too broke to start
  2. Deals are hard to come by
  3. I don’t know how to rehab a house
  4. I can’t tell whether I have a good deal or not

The answer I got completely took me by surprise; people actually were afraid of getting into real estate.

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Do You Need To Be Wicked Smart To Successfully Flip Houses?

Do you need to be wicked smart to successfully flip houses? This is a very common question and the answers real estate beginners get can be quite confusing.

Do you need to be book smart to successfully flip houses?Many real estate investment beginners get into this industry knowing that it’s important to “know your numbers”.

Yes, it is important that you know your numbers because if you don’t then your house flipping career will end as soon as it starts.

When I talk about “knowing your numbers”, I don’t mean trying to understand complex mathematical formulas.

As a matter of fact, you will do just fine if you know just a little 5th grade math.

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