Can Fixing & Flipping Be More Beneficial Or Harmful For You?

We all want to make money... it pays our bills, allows us to buy things we want and helps us more comfortably survive. So of course, when someone sees how "easy" it is to buy and flip a home for profit on TV, they want to try a slice of that cake to say they have tasted it's sweet victory.

Most people don't like trying and then failing. But what happens when you try "doing what everyone else is doing" and don't get the results expected? You could throw up your white flag and be done with it, or, you can isolate what the problem was in the first place and try again.

Here are some aspects to have in place before you get started on any rehab type project, covered in more detail by this INVESTOPEDIA article, Top 5 Must-Haves For Flipping Houses: http://www.investopedia.com/articles/pf/07/flippers.asp

• A Group of Experts
• A Handyman or Knack for Home Improvement
• A Good Lay of the Land
• A Good Estimator
• A Dose of Patience

With the correct value give to these points above, you success and profits could be greatly affected.

In the end, is it more beneficial or harmful for you to fix & flip a home? That depends on if you like taking risks to accomplish your goals. As I've heard before, "Successful people take big risks knowing they might fall hard. But they might succeed more than they ever dreamed."

Best, Ken - Another Guy in the White Hat

Lead Loan Originator at family owned and operated Hard Money company, Sun Pacific Mortgage & Real Estate, serving all of California since 1988!  707-523-2099 www.Sunpacmortgage.com