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Updated almost 3 years ago on . Most recent reply

Wanda P.'s profile image
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Wanda P.
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  • Member since Dec 7, 2020
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Wanda P.'s profile image
Wanda P.'s profile image
Wanda P.
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  • Member since Dec 7, 2020
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Wanda P.
  • Investor
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9
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General Real Estate Investing

Words From a Wise Investor

Wanda P.
  • Investor
Posted

Hi. Think back to when you first started your real estate investing journey. You are ready to purchase your first fixer upper. Knowing what you know now, what advice do you have for yourself?

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Benjamin Aaker's profile image
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Benjamin Aaker
  • Rental Property Investor
  • from Brandon, SD
  • Member since Sep 6, 2015
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Benjamin Aaker's profile image
Benjamin Aaker's profile image
Benjamin Aaker
  • Rental Property Investor
  • from Brandon, SD
  • Member since Sep 6, 2015
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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
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Happy to tell you I lost $8k on my first flip. Not happy to lose it but happy I'm still investing. If I did it over again, I would make sure I got accurate estimates of the rehab needed prior to purchasing it. I made some assumptions that didn't turn out to be true. I would also realize that losing 8k on your first deal is a very inexpensive way to get a great education.
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