Flipping houses requires a certain level of risk tolerance to be able to stand the pressure involved in dealing with large amounts of money. Houses aren’t cheap, ok, maybe we’ve proved that they can be, but relative to other investments, you are most likely risking a large sum of your own or someone else’s money. Tough decisions have to be made when purchasing an investment property and through the process of getting it fixed, flipped, or rented. If the wrongs decisions are made, thousands of dollars could be lost, sometimes tens of thousands or more.
1. Real Estate Flipping Houses
Managing the risk is no easy task, but it can and must be managed and minimized. I don’t say all of this to scare you, but rather to let you know that we all deal with this fear when getting started. This fear keeps most people on the sidelines. For those of us that have worked through several deals, we must keep a level head and not get overconfident. The moment we write off the risk and assume that we can do no wrong is the moment we set ourselves up for a big fall.
Continue reading here.
Comments
Post a Comment