Flipping Houses;Common Mistakes that Flippers make

hometowngrl53 · #1 01-17-2008, 12:14 AM

Flipping Houses: Common Mistakes That Flippers Make

In my profession as a home inspector, I get to witness some amazing flipping deals. Some are profitable, some aren't. Here are the common mistakes I see flipper continuing to make.

#1. Falling In Love With The Home: Hey, it's just a house built out of sticks and clay. There are thousands more. If you can't keep from falling in love with every home you see, then flipping homes isn't for you. Never forget it's a business, treat it that way.

read here http://ezinearticles.com/?Flipping-H...Make&id=123424

thohome · #2 01-17-2008, 05:02 PM

I broke rule #1 one time.. My house in North Carolina.. Beautiful home but had to give it up when the neighborhood was less than desirable..Remember know as much about the neighborhood and the schools within it before you buy.. Always said if I could have picked that home up and moved it I would still be living in it.

flip4u · #3 01-18-2008, 07:55 PM

Thohome I have seen it done on TV maybe you should have checked out if it would have been worth the investment to move your home.

JaredfromIndiana · #4 01-18-2008, 10:00 PM

LOL... I read that article and in my head went "check. check. check... I have done all of those things!!"

flippinout · #5 01-25-2008, 09:58 AM

I think #1 would be the biggest problem I would have. But my dream is someday to own a big farm with lots of land so I might be able to successfully flip without falling in love with the houses.

JaredfromIndiana · #6 01-25-2008, 07:58 PM

I agree that #1 is a huge problem, especially when you do any work in the home yourself. I hope to do 2-4 projects at a time soon and not do any of the work, and when that happens I see it a lot easier to not get attached!

thohome · #7 01-25-2008, 08:14 PM

Know flip4u. it would not have be feasible .. it was a 3 story. brick home built part way under ground .. and way to much money