Fix n flipping dangerous?

[Francis Rusnak]

Everyone talks like fix n flipping is dangerous and you could lose your *** doing it.

Say I buy 70% below market value - repair costs. Ok, I screwed up and was 10% off on my ARV, another 10% off on my repair budget, and my holding cost doubled because I was slower than I thought I'd be. Even if all of that happens I'm borderline breaking even.

My question is, assuming you have a little bit of margin in your purchase price, how bad can it get? Sure, it would suck to hold onto a project for 8 months and not make anything, but when I hear 'risky' and 'dangerous' I think having your money chopped in half.

Correct me if I'm wrong, but if you have done a decent amount of due diligence and have enough reserves in the bank, then you're rarely going to be negative on flips and if so, nothing significant.