This is a very interesting video done from a different perspective. These twins explain HOW NOT TO REHAB AND FLIP A HOUSE!
That’s right. Their idea is to show you all of the mistakes they made during the process of flipping, rather trying to flip, houses. Flipping property is not a passive income strategy. It is an active one.
In this episode, they talk about the negotiation with the seller, the contractors, and your thought process that needs to be involved.
It is a short video, but full of practical and useful information. When you have the opportunity to view someone elses mistake, it can literally save you thousands and thousands of dollars because hopefully you won’t make the same mistakes that they did.
Watch the video and let us know what you think.
Did you make any of the mistakes they did? Share you thoughts and opinions below in the comment area.
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Very interesting short video which spotlights the pitfalls in trying to fix everything within a property. Of course buyers will want you to fix everything they see is wrong, but my experience is you want to fix the major issues and keep in mind the ultimate profit you are looking for either in resale or rental.
@ Pierre
Bingo! At the end of the day, it is about the profit of the project. Fixing the major issues are very important to make the end sale. As you know, you have to be aware of the minor details as it can create a barrier or resistance from the buyer to make the purchase. However, you have options at this point of making the repairs yourself or leaving concessions for the buyer to get them to the closing table.
Thanks for the comments and please continue to share your knowledge and experience!