Everything falling into place for 1st flip, but I'm nervous!

[Zoran M.]

Over the last several months I’ve read over countless posts in this forum, dug into J Scott’s books and listened to just about every BP podcasts. Each has been a tremendous resource in my goal of acquiring and flipping my first investment property.

As it stands today, I received a sizeable cash infusion from a private investor. I have seen numerous properties and have narrowed my search down to a single REO that's been on the market for 250+ days. I had a GC come out and quote the property. Numbers make sense and it should yield a 25-30% cash-on-cash return. My wife is on board and is supportive.

All is well? Sure! No!

I’m quite nervous. I was given a large investment by a family member and all he said was “don’t lose my money.” No interest. No profit split. He just wants to help me out. Well, the numbers make sense so I don’t expect to squander his investment. But alas, so much can go wrong during the process.

The funny thing is I’ve invested sums bigger than this in the stock market, but what made me comfortable in doing so was being able to exit the investment in a literal nanosecond. This is, if I’m lucky, a 3-6 month investment.

Any advice? How did you feel before/during/after your first flip?

[Karin Crompton]

I've heard people who've done over 100 of these say they still get butterflies. I agree with @Bill Gulley - as long as you've done your due diligence, get 'er done!

(And fwiw, I don't sweat Days on Market. There are lots of reasons for a property to sit around, not the least of which being that it was simply priced too high and the seller - probably a bank - was too stubborn for too long. There have been some recent posts on this by far more experienced people than I.)