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How I LOST $50k! | 7 House Flipping Mistakes YOU Don't Want To Make!
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Here are the 7 BIGGEST house flipping mistakes investors make and how you can avoid them effectively! Whether you're a beginner or a seasoned flipper, understanding the biggest house-flipping mistakes can save you time, money, and frustration.
🚨Check out the #1 Program for Building a Hyper-Profitable Real Estate Investing Business:
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📚 Download our FREE PDF resource, "Fix & Flip Contractors," to find the right contractors for your next project: https://www.realestateskills.com/contractor-resource-dl?el=tshfm
This guide includes essential tips and a checklist to help you hire the best professionals and keep your renovation on track!
In this video, Stan Gendlin (Pro Fix & Flipper) of Real Estate Skills covers these mistakes and more:
🛠️ Underestimating Repair Costs: How to accurately budget for repairs.
🏢 Over-Renovating: Learn when to stop upgrading and avoid wasting money on unnecessary improvements.
🔎 Ignoring Market Research: Tips on analyzing neighborhoods to ensure your flip will sell quickly and profitably.
📉 Misjudging the ARV (After Repair Value): Techniques to accurately estimate the resale value of your property.
👷 Hiring the Wrong Contractors: How to find reliable contractors and manage them effectively.
🔥Watch our FREE TRAINING to learn how to Wholesale, Flip, & Buy Rentals from the MLS without having to do any marketing:
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Consistently Close Deals WITHOUT Any Experience, WITHOUT Using Your Own Money, & WITHOUT Working 40+ Hours/Week! Claim Your Spot:
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🥇Check out our Ultimate Investor Program on How To Get Started Wholesaling, Flipping & Buying Rental Properties:
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✅ Use our FREE ARV Calculator!
Effectively analyze the After-Repair-Value on your potential properties with this completely FREE tool!
➡️ https://www.realestateskills.com/blog/arv-calculator?el=pod
TIMESTAMPS
0:00 - Introduction
0:40 - MISTAKE 1: Underestimating Rehab Costs
2:40 - MISTAKE 2: Not Factoring In Money Costs
4:13 - MISTAKE 3: Underestimating Your Timeline
5:57 - MISTAKE 4: Overestimating The ARV
7:53 - MISTAKE 5: Overdoing The Rehab
9:41 - MISTAKE 6: Hiring The Wrong Contractor
10:51 - How I LOST $50,000!
12:16 - MISTAKE 7: Closing On The First Deal That Falls Into Your Lap
13:51 - Conclusion
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📝 Disclaimer:
This video is not personalized financial or legal advice for the viewer.
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