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Tag Archives: selling an investment property

Out of the Flippin’ House Flipping Business

If you’ve been following this blog for a while, you’ll remember that Jim and I became investor partners in a house flip way back in April 2012. When flipping a house, a main point is to get repairs and renovations done quickly to minimize carrying costs. Originally, we planned on a six month turn around, but you know what they say about the best laid plans , especially if you have to rely on partners to make things happen. Somehow in early November of 2013, we still found ourselves part owners of this property with so much potential, yet there it sat, unfinished and empty, while time continued to move forward and other opportunities passed us by. Yesterday, we put an end to our career as house flippers, even though it meant not making any money. Out of the House Flipping Game by 2014 We have so much going on in our lives right now with purchasing a commercial building, selling my practice, and trying to build our real estate holdings for early retirement. We were more than over the delays and excuses that seemed to keep coming with the flip. No work had been done on the house since ...

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We Flipped a House!-Part 2, Renovating a Distressed Property

Thanks for checking back in for Part 2 in my series about flipping a house. If you missed the first post you can go back and catch up. Basically I left you with the reasons why we decided it would be a good idea to flip a house and how we decided to use a home equity line of credit to finance it. Our timeline was 6 months, and we planned on investing a maximum of $100,000 to renovate the house. Today, I’ll tell you what happened and if I would do another flip in the future.

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