What is the biggest beginner's mistake?

[stephpoet]

I'm new at this, so I'm curious. What are some common beginner's mistakes so I can try to avoid them?

[beangel40]

here is a site that might help you out hope it helps

read here http://www.doghousetodollhousefordol...directory.html

[beangel40]

lol sorry it wasnt supposed to post twice sorry lol i goofed lol

[bartongrl1]

Thanks for the information Beangel, and not to worry, I removed one of your posts, we all make mistakes occassionally.

[beangel40]

thanks bartongrl for helping me out

[donna]

This looks like a very helpful and informational site. I put it in my favorites. I know I'll be referring to it many times in the future. It's so nice to have found a site with such knowledgeable members. And especially members that are willing to share that knowledge.

[alexfardreamer@aol.com]

I'm new to this myself - and I'm still wondering why my chosen username didn't "take" when I registered - but I do know that one big mistake is buying a second property without really giving much thought about what happens, say, if one can't really afford a second mortgage and having to hold on to the "flipping" property without being able to sell it.

[bartongrl1]

Budgeting can be another mistake new flippers make. Not allowing enough money for all the repairs and upgrades. Plus, the budget should also include at least 6 months mortgage payments on the property just to be safe until it sells.

[alexfardreamer@aol.com]

Also, thinking that one can sell a house fast in a slow market would also seem like a major mistake, no?

[JaredfromIndiana]

Some of the biggest mistakes I have made are....

Using backyard contractors to save a buck.
Paying too much for a property.
Not having a realistic time frame (I have flipped a house in two weeks but they aren't all that easy!!)
Paying my contractors money up front. OUCH
Bought a house from a hermit that wouldn't leave!!

I could go on forever about some of the smaller mistakes...