3 signs you should give house flipping a shot

[William Hull]

The author interviewed real estate developer, lender and broker Sean Conlon. Conlon goes on to state that everyone can flip houses and amass a large amount of money, but everyone cannot become a billionaire. Conlon is the star of a new show entitled "The Deed: Chicago", which focuses on helping investors who are having trouble flipping their properties. Conlon claims flipping can be taught and that anyone can do it if you follow his three steps. Make sure you have a realistic idea of the time it takes to flip your new investment. Do not except overnight success, That will hurt you in the long run. Conlon does state that you should not wait too long to get started flipping. The second tip is to ensure you have some savings before flipping. This was you have a cover in case the property doesn't move as quickly as you hoped. Last tip is to never give up. Simply because you fail once that does not mean one must give up and quit. Conlon states that he finds a lot of people find success shortly after they fail. Developing thick skin and a strong outlook on flipping will help you to remain focused on flipping.

Key Takeaways:

• Don't rush into a project, think it through to a reasonable degree first.
• Make sure you have money set aside to get started.
• Don't quit the first time you fail, you need to keep trying.

"That doesn't mean everyone should rush out and buy a house with the intention of flipping it. To be successful, you have to be in the right place."

Read more: http://www.businessinsider.com/signs-you-should-try-flipping-houses