Putting your Profits in their Place!!
Tuesday, May 17
Yesterday, I closed on my recent flip and actually made a profit. So what do you do with your profit? I recently read Profit First By Mike Michalowiscz and placed my profits into 4 areas.1. Tax Account - to save for my 2016 taxes2. Profit Account - this like the emergency account for your busines...
Double The Profit or Trouble
Tuesday, October 27
My husband recently finished our first flip/rehab in Sept 2015 and made about $10K. We are now under contract on two properties each SFH. One to close 11/9 and the other to close 12/1. We are excited but nervous to have to properties at the same time. Our goal for the next 1 year is to complete 6...
My Flip Adventures - CONTRACT
Tuesday, August 11
FINALLY, we have contract after about 65 days on the market which is the average in our area. Closing is scheduled for 9/3/2015. We haven't made as much as expected but we didn't end up in the red. After all expenses we will have made $12K. I am thankful for this experience and am already lookin...
My Flip Adventures - No Contracts
Tuesday, July 21
We finished the property about 60 days ago and have yet to get a buyer. Lots of showings but no contracts. We have done 2 price drops and I recently dropped the price again to get it sold. Even with the 3 price drops we will still make a decent profit but not nearly as much as I originally dreame...
My Flip Adventures - ALMOST DONE
Sunday, July 05
My husband and I finished the reno work about 40 days ago. We still have not sold the property as of yet but there is so much equity in this house that we could cash out refi and rent. Which is a strategy we have been contemplating more lately. Buy a rental property with significant equity, rent,...
My Flip Adventures - The Argument
Friday, April 10
Again, I will emphasize any couple or partnership should start with clear distinction of roles and responsibilities. That being said, yesterday my husband and I had big argument about the tile the in MB. There was one section which was not acceptable and needed to be removed and redone. Well I mu...