How Do You Avoid Failure When Flipping Residential Real Estate Property?
The real estate business isn’t for everyone … and being a real estate investor isn’t a good fit for everyone either. Buying cheap or foreclosed houses, fixing them up, and selling them quickly to maximize profits is certainly not as easy as some of those late night infomercials makes it seem. But there are some steps a real estate investor can take that will give them a leg up on the ladder to success. Here are some tips I learned the hard way that will hopefully help you avoid failure as a real estate investor … at least the type of investor who buys rehab or foreclosure properties to fix up and flip back onto the market quickly. Not understanding that time is of the essence when it comes to selling their property can lead to disaster. The longer a property is vacant, either sitting on the market to sell or waiting to find a qualified renter, the lower the profit margin will be when they do sell. Choosing contractors who aren’t trustworthy or dependable will bring your projects to
