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Hard Money Bankers - Flipping A House - Not Like TV
When the market is hot, there seem to be more and more shows that pop up about real estate. They certainly make it look easy on TV. I don't want to discourage anyone from flipping, but it is important that TV and the entertainment world don't confuse people into thinking the process is easy and painless. People flip properties for enormous profits but in order to get those profits, there is a lot more behind the scenes than picking an ugly house, putting some work in and expecting the market to just resell it for more. Understanding comps, knowing repair numbers very well, having a good contractor, and building in room for mistakes are all part of what you need to account for. It is certainly possible to make the profits they show on TV, but do more due diligence than a 30 minute TV segment.
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