![]() They also don't take into account realtor costs. There are holding costs, taxes, insurance, interest-all those things add up. The thing that drives me crazy are their quick calculations. How much money you need to get started: I should write a book called What HGTV Isn't Telling You. "I should write a book called 'What HGTV Isn't Telling You.'" And you cannot touch the house before you get the permit. For example, we put in paperwork for a permit and it takes a month to six weeks to get anything back. I don't think a lot of people understand how bureaucratic villages can be. If they're reliable they most likely charge a lot more.Īnd the permit process can be overwhelming. We're putting in offers all the time now.įinding reliable and reasonable contractors is another big challenge-it's almost like two opposite ends of the spectrum. Once you've gone through the first one, there's so much learning that happens that it becomes very clear whether it's worth it to do it again. The most challenging part: The biggest hurdle is getting from zero to one property. It's a full-time job between the two of us. He does all the market analysis, and he does a lot of the work-that's how we saved a lot of money. Is it important to have a partner? I could not do this without John. Within six months of us dating, we were buying our first property and flipping it together. He's a licensed real-estate agent at Mark Allen Realty. How did you get started? My boyfriend John and I started dating, and he had flipped before. It's not like a stock that you don't really know what you own. It's property, it's land-you own something. It rides the economic ups and downs a little bit better. What attracted you to real estate? I've always seen property as the foundation for long-term wealth. Occupation: Communications manager and blogger at Read My Flips ![]()
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