Flip or Fold: Top 5 Rules to Keep in Mind when Beginning a House Flipping Project
1. Invest Your Money, Don’t Spend It
When buying a property, always keep in mind that money is made on the purchase of a house not the sale. There is no way to predict how the market will change or how it will treat you when it comes time to sell, so buying low is truly the most important factor. A wise man once told me you do not make money when you sell a property, you make money when you buy it.
Here is a house my wife, Nadine and I did about 10 years ago. I think this is still one of my favorite flips ever!