I read Pamela's response in January 2025!

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

@Guenevere F.When I started in rental property investing, I found it crucial to set clear goals, leverage existing skills, and focus on scaling gradually.

It’s crucial to consult your lender, document everything, and seek advice from a real estate attorney or CPA to align with your long-term goals.Good luck!

I had over 50 responses and 20 applications.  

I know this is a delayed response, but I recently bought a property in Grandview.

And the strategy to enter it is crucial. 

In that case you do bear the responsibility when said supplier turns out to be a fraud dont you think?

Work with a real estate attorney to draft a formal agreement that outlines responsibilities and protects both parties. 

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