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Old 09-16-2009, 10:03 PM
luv2flip luv2flip is offline
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Default simple mistakes

A mistake a lot of flippers make is not to shop for the fux-up materials before the transaction is done, you shouuld know what the house will need, where you are going to buy the material,and most of all how much it all will cost, all to be done before closing on the house, by doing this it will have alot of time, time you can spend doing the fixing up, the faster its donethe faster you will be able to sell,and recieve your money, this way you can be ready for your next flip , thats what most flippers want.

This is a mistake I know I would of made if I was flipping a house, would not of thought that this would save you so much time, and get you closer to your profit.

Also another mistake is simply fear, when you let fear get in the way, you maybe misiing out on a big profit for yourself. So just try to your fearsaside and go for what you want.

Last edited by flippinout; 09-17-2009 at 12:42 AM.
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  #2  
Old 09-17-2009, 02:30 AM
flip_it_fast flip_it_fast is offline
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Default Re: simple mistakes

You should have a ballpark figure in mond as to what it will cost you to do the necessary repairs. Keep in mind though, you may end up having to spend more than you had at first planned. You need to figure in some extra money for the unexpected and then see if you will still be able to make a profit before signing any bottom lines.
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