Kitchen cabinet handles were placed upside down, cabinet doors were installed backwards, electrical line for thermostat was ran on the inside of the bedroom exposed, trash swept into newly installs vents from the furnace, cracked tub, wall switches were installed sideways in some rooms, wall outlets were installed upside down on some walls, list goes on.

Make sure to maintain a cash reserve (3-6 months of expenses) to handle unexpected repairs or vacancies.It’s smart to consider the “what-ifs,” but don’t let them hold you back.

Best is to avoid any outlet known to lie in the past and have broken deals.

I didn’t know the details about a project we’re working on, and it showed.Lesson learned: Always prepare thoroughly before each call and be ready for unexpected questions.Failures like this are uncomfortable, but they're how we grow.

When you’re just starting out, the numbers can feel tight because a lot of the cash flow gets eaten up by repairs, vacancies, and other unexpected expenses.

Sharing your vision with real estate professionals, local investors, or even family and friends might uncover unexpected opportunities.

Rising interest rates, slim margins, and unexpected costs can kill a deal fast.

It’s easy to underestimate renovation costs and timelines, so always build in a cushion for unexpected expenses.Good luck with your first flip, and feel free to reach out if you need more detailed guidance along the way! 

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

A couple of things happened in the last few months including a lump sum pay out for a retirement from a company for whom I previously worked and I inherited a modest sum unexpectedly.