My first flip was a love hate relationship....

[Monica Sanchez]

I purchased my first house to flip with little to no experience. I have a few friends in the industry in which, I would constantly pick their brains. Whenever we were together, I would always talk about home renovations. I have a true passion for flipping homes, but I lacked the money and experience. I found myself addicted to HAR and constantly inquiring about potential properties. I'm sure my relator was over me at the time. With that said, I found my first property in the heights area. I purchased the home for $180,000 and moved right in. I decided the only way I could attempt to get my hands wet was to live in the house. I wound up having an alleged friend help me with adding on a master suite (bigger bedroom, walk in closet, and full spa like master bathroom.) This person led me to believe she knew what she was doing. I trusted her and in the end she caused a tremendous amount of stress on me. Everything was done wrong from the plumbing, to electrical, to framing. I spent thousands of dollars to correct all the mistakes. I lived in the house while it was exposed to the outside for months. What a nightmare. I pulled money from credit cards, retirement funds, and anywhere else I could scrounge from. I was so broke and my project was incomplete. I needed about $10,000 more to complete the kitchen remodel. I had no where to pull funds from. I was so depressed, but determined not give up. I asked my best friend at the time to lend me the money and she did. She allowed me to complete my project and finally put my home on the market 1.5 years later. I purchased the home for $180,000 dollars and sold the home the first day on the market for asking price at $350,000. Flipping became a love hate relation ship with me since then. I love the adrenaline, but hate the stress.

Monica