Second Condo for sale now; search for the new deal

We have officially flipped two condos. Or it is not flipped until they are sold? I am still confused about terminology. Nevertheless, both condos are finished and are on MLS now. First condo has  been out for a month now and we decided it was time to lower the price a little, so hopefully it will sell. Second one has better renovation therefore the price a little higher. Please keep your fingers crossed. The market where we flip is seasonal and the season just starting with pick being in January, so we still have time.

I realized that the time when the job is done and the waiting game starts is the most stressful in the whole Real Estate Investment business. I literally hold my breath and wait for a buyer! Please, please, please buy our property, we did such a great job.

It is really hard to look for the new property until at least one condo is sold. First of all, we need money, second of all, we need justification that this whole flip schema works.

Even thou it is hard we still are looking. And Saturday I came across brand new listing with what looked like a great price. Condo was listed for 37K. I called my REA and she and my partner went to take a look right away. Condo needs lots of work, but it is not a problem. We already did this once and know exactly what needs to be done and how much it costs. This is where the ease comes in - every condo is a replica of each other so estimation is a piece of cake. We estimated around 25-27K in renovation plus holding costs plus closing costs. According to my REA this condo renovated can be sold for 55K since the location is by the road and far from amenities. So even thou the price seemed right doing the calculation proved opposite. Thank you, Bigger Pockets, for teaching me how to calculate the flip!