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 the screen. In this episode, Natalie Mitchell walks us through some flipping mistakes she’s made in her journey, to better equip you on yours.
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 the screen. In this episode, Natalie Mitchell walks us through some flipping mistakes she’s made in her journey, to better equip you on yours.
“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.”
When scoping out a property to flip, always focus on the exit strategy. What are you going to do to divest or sell that property? ALWAYS have a backup plan. Focus on the masses in renovation – know the community you’ll be working in.
Your key in being successful in a flip is 100% dependent on your purchase price. Do not overpay for a house in the beginning. All the flips she’s done alone have made her money, and she highly encourages working on your own. Most importantly, figure out who you are as a flipper and do everything in your power to stick through it. It is great, and it is fun, but it is hard!
