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Tag Archives: rental properties

9 Mistakes I’ve Made Flipping Houses

  The following is a guest post from Brandon Turner at Biggerpockets.com. If you would like to submit a guest post, please contact me. I want to make a confession. I’ve made some pretty big mistakes in my life. But who hasn’t? However, it’s learning from those mistakes and helping others avoid them that makes those mistakes worth making. So consider this post my atonement! You see, I’ve flipped about a dozen homes over the past few years – some with success and some with … well… a lot of “education”. It’s not that I lost any money, but some of the small profits I made early on were not worth the headache or the time spent. I know this is the case with many house flippers, so in an effort to help those looking to get into this (potentially lucrative, but often risky) field, I’ve compiled a list of my top ten mistakes I’ve made when flipping houses. 1.) Doing all the Work Myself The first several flips were remodeled nearly 100% by myself and my wife, during the weekends and evenings. We painted, we cleaned, we carpeted, we installed, we wept. It was a long flip, and while ...

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Things I Refuse To Save Money On: Wasteful or Smart?

Since turning over a new financial leaf a couple of years ago, I am always looking for ways to save or earn money. However, there are some things that I just can’t bring myself to do even if it could put some more coin in my wallet. I’d like your opinion on whether I’m wasteful or smart. Let me know if I’m crazy to refuse to save money in these ways. . Waiting in Line For Gas In our town, the Kroger chain grocery store is always the cheapest place to buy gas. I shop there, so I usually have a discount on top of the pump price because of my customer points. That being said, there is always a line at the pump if you try to buy gas at the end of the work day. I try to go in the morning, but sometimes I can’t make it. I refuse to park my car behind someone pumping gas. I always choose the person has to go write a check at the window. Instead, I pay 3-5 cents more per gallon down the street, where there is never a line. Approximate cost per year: $10  Wasteful or Smart?  Property ...

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