Is your first flip the most important flip?

[Brandon Clark]

Hey BP, I'm back again! So I thank you guys for answering all my questions.

As I approach my first flip I was wondering if there is anything that I should look for that will help me move on to my next flip as soon as I'm finished the 1st one. I don't like to look to far down the road but every so often I think about the long haul, and how my 1st flip can boost my investment career. 

I'm not sure if I was clear on this question but let me know if you need anymore details.

Thanks in advance

[Zach Mitchell]

Not too sure how to answer this question but I'll give it a shot. You're first one is going to be a big learning curve, just pay attention to every step and try to focus on what you could have potentially done differently to make it easier on yourself or others. Are you doing the work yourself or hiring out? If you're hiring out you will probably hire some people who you realize you don't want to ever use again. Don't be afraid to get rid of them as soon as you feel like something is off. Much better to spend an extra week hiring a new sub than spending three to get them to fix their mistakes. Also, ask A LOT of questions along the way with everyone involved. Especially on the construction side. It's like a crash course in construction. I knew minimal, if any, construction lingo or even basic stuff really on my first and just absorbed as much as possible. Now I'm telling them what I think should be done. Half the time they agree and other times they have a better way but it's crucial to learn and understand the construction/rehab process. No flip is ever truly smooth, there are always bumps along the way. Mostly likely, your first will have more than the rest. Don't get discouraged either when stuff comes up. Just think it through and decide what the best route will be to do it the right way but the least expensive option, while still having a great product at the end. DO NOT cut corners. It's just more stressful and will probably come back to bite you in the end, especially if you're in this business for the long term. Don't be afraid to spend a little extra on things that will appeal to the end buyer either. Not sure of your price point though so that might not be necessary. It's going to be a lot more work than you thought and there will be multiple little issues that you never expected, which are going to add up but as long as you bought the property right and have a proper budget it should all work out in the end. Feel free to message me with any more specific questions. Good luck!