Five Things I’ve Learned About Flipping Houses in Woodstock, GA
Posted: August 21st, 2007
Category: real estate news
1. “It’s not as easy as it looks” – If it were as simple as those 30 minute make-over shows say it is, 10 out of 10 people would be doing it.
2. “Don’t quit your day job” – After months of research, there isn’t a pool of no money down properties to be had as all the television infomercials lead you to believe. Unless you’re blessed with a trust fund, have a couple hundred thousand just lying around or just won the lottery you will have to borrow money. You can’t borrow money if you don’t have a job.
3. “There’s no time like the present” - Turn around time means everything. The faster the real estate sign goes up the faster you get your money back.
4. “Take off the rose colored glasses” – Realize what you’re getting into. We purchased a fixer-upper wanting to do the work ourselves along with the help of our teenage children as a fun filled family project. Know your limitations and what you expect from others.
5. “Dreams do come true” – We were able to do all the construction ourselves. We sold the house (actually made some money) and are now on the look out for a new project to purchase.
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Here here- especially number 1! Congrats on your success.