Flipping houses is sooooooo easy..........

[celiboy]

Wow, what a [censored]........

http://www.usatoday.com/money/econom...per-usat_x.htm

[john voight]

I have a family friend who has quit his job due to flipping houses in Cali. He is my dads friend, and whenever my dad talks to me he is like , "john made X$ last week". He has flipped 60+ houses, and finances them all. Has a group of guys that do the work on each house.

These 10 mistakes seem very amateur, I mean I know nothing about it and would take the precautions it lits. Just a story about a naive guy getting into something he was not prepared for.

My dream is to invest in RE, both through flipping, and through renting.

[celiboy]

OH, and he has his own blog which goes into a lot of detail on all the properties. At the very least it's a good rundown of what not to do

http://iamfacingforeclosure.com

[Tien]

LOOOOOOOOOL

HAHAHAHAHHAHAHAHAHAH


I buy houses from tools like this.

[catalyst]

these mistakes seem like common sense

[prohornblower]

The dude just looks like a clueless gnat.

[john voight]

wow, what a coincidence.
I was watching some video of robert Kiyosaki and then this guy comes on, and looks like a total jackass.

http://www.youtube.com/watch?v=D78C5d-bsxg

[Reef]

Mistake No. 1
Using 'liar loans'

Mistake No. 2
Overpaying

Mistake No. 3
Lacking cash

Mistake No. 4
Quitting your day job

Mistake No. 5
Hiring an unlicensed contractor

Mistake No. 6
Buying sight-unseen

Mistake No. 7
Buying out of state

Mistake No. 8
Buying too many properties too fast

Mistake No. 9
Underestimating remodeling costs

Mistake No. 10
Having a poor exit strategy

=========
anything the experienced real estate guys want to add or comment on in this list?

[jedi]

[ QUOTE ]
Mistake No. 1
Using 'liar loans'

Mistake No. 2
Overpaying

Mistake No. 3
Lacking cash

Mistake No. 4
Quitting your day job

Mistake No. 5
Hiring an unlicensed contractor

Mistake No. 6
Buying sight-unseen

Mistake No. 7
Buying out of state

Mistake No. 8
Buying too many properties too fast

Mistake No. 9
Underestimating remodeling costs

Mistake No. 10
Having a poor exit strategy

=========
anything the experienced real estate guys want to add or comment on in this list?

[/ QUOTE ]

Not experienced at all, but to repeat what others have said, these mistakes sound really easy to avoid if you just put in some time and effort.

[Stake Monster]

Anyone else find it so ironic that his wife is studying to be an accountant?