One question though. Isn't time worth money? And if it is then on your next deal you'd have to make $8000 on top of whatever additional amount you're hoping to get. Because if you had done this deal you might have that $8000 to work with on your next deal. You need to factor that into the equation. Also as I mentioned to you before. Don't worry too much about the profits on your first deal. Trust me on this. But don't worry by the sounds of it, you might be right in that it wasn't the ideal flip. If I were you I'd look for something that doesn't need a lot of exterior work. Try to find something that by simply doing such things as paint and yard work would do for the outside. That way you can concentrate your energy on the inside. For the inside try and find a place that if you were to change the flooring with new carpet and lino, and paint the baseboards, walls, ceiling that would do. Try to avoid houses that you would have to do "everything". Because once you get into anything that involved ripping out major items, plumbing, electrical, kitchen etc...you'll quickly blow your budget on time and money. If you're just doing painting and flooring on a small house, you should be able to do that in two weeks. That way you could have it relisted so fast, as opposed to doing a major reno job. But just keep trying. And let us know how things go k.
