Show me the waste.Also, if you’re not very familiar with the contracts in your state, it’s very easy to make a big mistake.

There are multiple resources to help you find a market and eliminate markets where you don't want to invest.

You don’t have to skimp on the neighborhood or the quality of the house, but if it is a nice little 3/1 or 3/2 single family home in nice condition with no deferred maintenance, then your chance of making a mistake or getting hurt financially while you learn is limited.

BIG rookie mistake and lesson learned. 

Eliminate debt, establish a budget, and save.

I find when looking for a market to use the elimination method.

Hi Josh, here are some common mistakes investors make when doing a BRRRR:Overestimating the After-Repair Value (ARV):Investors sometimes overestimate the future value of a property after renovation.

So what I did is I looked at median prices of 2 bed condos between 800-1200sqft built between 1980-1990, I did this to eliminate new condos being added into the pricing pool, and look at this rollercoaster...Detached faired a LOT better, less variability in downturns, and much better return (for this chart I did not look at semi-detached, but the trend is closer to detached)

@Steven Mendiola admire your gungho attitude, be sure to temper it a bit with reality, but don't lose you energy - it can help you recover from a lot of mistakes!

I own up to my mistakes and cover them.