The 10 things you wish you knew before investing in real estate…
The 10 things you wish you knew before investing in real estate…
This was the very first home we ever flipped! Here is the kitchen BEFORE AND AFTER.
Kitchen Before
Kitchen After!
We’ve already made plenty of mistakes since starting this gig. And yes, mistakes are how you learn. So I am going to be open and share some of the heart shattering mistakes we made in hopes to stop even one person from doing the same.
1. Get insurance that covers water damage. I can laugh about this one now but at the time I wasn’t laughing. Vacant properties in winter=busted pipes. 😑
2. “Fake” security systems don’t always work.
3. Don’t try to refinish hardwood floors if you don’t know how…or really do anything major you don’t know how to do.
4. Everything ALWAYS takes longer then planned.
5. Give yourself a nice big buffer when estimating expenses (because, well see number 2).
6. Don’t ever live or die by one deal. Because you know what comes after one deal? The other deal… haha. You have to be ok with walking away.
7. Patience.
8. Make a plan but don’t get your panties in a bunch when the plan changes…bc the plan always changes, so just let it.
9. Get a property manager. Period.
10. Don’t stress over every small detail. It will all get done. Life is too S H O R T to add any more stress to it.
We do not have it all figured out. We never will. But that’s fine. In a few months I’ll probably be sharing another list of ridiculous mistakes. oh well. I decided about 6 months in that mistakes are just apart of it. You can’t take them back and more importantly there are so many things that are just out of your control. So stop the guilt and move on. Do your best and learn from the rest.
