Even though I know the numbers well from my previous experience, I’m sure there are some unique challenges when it comes to flips—like managing renovations, timelines, and of course, staying on budget.For those of you who made the transition or started out flipping, what’s something you wish you knew before your first project?

A cycle is something that is driven by a mechanism and has a repeating cause and effect that brings you back to where you started on a predictable pattern.2008 was a unique set of circumstances and I hope everyone can rattle them off by now. 1929 was also unique but VERY different than 2008. 

@Joseph Braunthis is not unique to Baltimore, i think this is a feature of many cities, including most rust belt cities. 

It's NOT for the novice, it is unique, and very easy to loose a lot of $ first if jumping in blind. 

Key Opportunities in the United States for Investing in Luxury PropertiesThe luxury real estate market in the United States is constantly evolving, and certain states and cities offer unique opportunities for those looking to maximize their investments.

Hey, This is a unique situation, I purchased my second property in June 2024, a single-family home that used to be a duplex, and is still zoned as a duplex ( remains 2 addresses).

Most notably, so I can make use of them on my vacations instead of paying someone else to rent theirs ;)Happy to hear about your unique experiences!

My unique situation has me running into dead ends.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

@Jonathan Feliciano: While I respect everyone's experiences and opinions, this is also such a unique situation to you and your potential partner.My first out of college was with a group called Phillips Edison & Company.