Hey Bigger Pockets! My wife and I just completed our first flip in the Orlando area. This is something we've been wanting to do for a while now and this community gave us the tools needed to stand atop that cliff and "jump".
We got our real estate licenses in order to help achieve as much knowledge as possible (also saves money on the buying side of things). Even though we won our property through an auction website, having the ability to use the MLS at any point to run accurate comps proved extremely helpful.
This experience has taught me many things. Above all, to believe in yourself. It has made me realize that if you have a goal, not to just talk/dream. But to strap yourself with the knowledge and tools needed to succeed and then to go into it (whatever it is) with confidence. If you're doing anything for the first time, their will always be fear. What if I get the wrong house? What if I fail? What if, what if, what if....
I always like to give an example that everyone can relate to. In school, we've all had that feeling where we went into a test unprepared. It's miserable. There's a chance you'll get the questions right, but your putting your fate to chance. On the flip side (no pun intended) going into it prepared, you're cool, calm, and collected.
On our flip, even though it was our first. We prepared for our final exam. We bought it for $79,500 and put $45,000. With $7,000 for closing costs and realtor commissions. After 3 days on the market and 6 offers later we have the highest one at $169,000! 37,500 profit if the sale goes through. We are very excited about all the possibilities of this industry and what the future holds! Believe in yourselves and go for the gusto.... If your prepare, there's no way you can fail! :)
