Flipping is not exactly what you see on TV. There is a lot they don’t show you in those episodes and it looks so simple and straightforward, on screen. In this episode, Natalie Mitchell walks us through some flipping humdingers and discusses mistakes made, to better equip you on your flip projects.
“I will not buy anything to flip that I would not want to move into myself or add to my rental portfolio – should it not sell. Not all properties you intend to flip end up selling. You have to have a backup exit strategy in place”
When scoping out a potential flip property, always focus on the exit strategy. What are you going to do to divest or sell that property? ALWAYS have a backup plan. Know the community you’ll be working in very well.
The key to being successful in a flip is 100% dependent on your purchase price. Do not overpay for a house in the beginning! Thinking of partnering on your project? Listen up and consider all the angles of working alone vs. with a partner. Most importantly, figure out who you are as a flipper and do everything in your power to stick to your values and vision. It is great and it is fun, but flipping is hard work! And it’s the most rewarding work you’ll ever do!
Social Media:
Day of
Out Now! Your Way into Real Estate – Flip or Flop “The Urban Suburban Conversion”
“I will not buy anything to flip that I would not want to move into myself or add to my rental portfolio – should it not sell. Not all properties you buy to flip end up selling.”
#realestate #houseflipping #yourwayintorealestate
To hear it now, search “Your Way into Real Estate” on your favourite podcast app!
Apple Podcasts: https://podcasts.apple.com/ca/podcast/your-way-into-real-estate/id1543251630
Spotify: https://open.spotify.com/show/6QppLD00QpEr0XoPRjPb60
Three days later
In case you missed it… Flip or Flop “The Urban Suburban Conversion”
“Your key in being successful in a flip is 100% dependent on your purchase price. Do not overpay for a house in the beginning.”
To hear it now, search “Your Way into Real Estate” on your favourite podcast app!
Apple Podcasts: https://podcasts.apple.com/ca/podcast/your-way-into-real-estate/id1543251630
Spotify: https://open.spotify.com/show/6QppLD00QpEr0XoPRjPb60
#realestate #houseflipping #yourwayintorealestate
