Investor: Know Thyself! (Psychologists call it “Self-Actualization”)

By now you have certainly seen at least One show on cable TV or YouTube showing a person attempting some outrageous feat of dexterity or strength or artistic prowess (think the early episodes of every American Idol season for reference).

Recently, in some parts of America, growth in population has outstripped the available housing, driving a frenzy of investment activity. Even mediocre house remodels get snapped up because the supply is outstripped by the demand.

However, when the supply balances the demand or if you are in a “buyer’s market” where supply is greater than demand, the buying public becomes more discriminating. Under these conditions, there are more choices. Some houses stay on the market for more than 90 days and this makes 'flipping" using other people's money (OPM) more costly.

Have you ever taken on a home repair you have never done before? How did that go? Were you surprised it went that easy (about 10-15% of the population)? Were both you and others happy with the result? Or, did some visitor to your house cry out “OMG!” in shock (not Awe) when they saw your handicraft?

As a new investor, if you lack experience at home or helping others with household tasks, a dose of reality check is important. You need help!

Flipping homes is both art and craft. The art is knowing What is needed. The craft is knowing How to do what is needed. If you lack either, find people who do. From evaluating the repairs needed for a potential investment, to understanding the style preferred by your most likely customer, to creating a professional result, a qualified licensed pro will ultimately save you money. 

If any or all of the of skills needed to create a truly professional result are not part of your ‘wheelhouse’, find the right people. They can help you get the job done and, more importantly, help you make more money!