I have had many House Flipping Successes during my career of flipping homes and you can have the same successes too. In order to make this happen you need to be sure to educate yourself, have a strong belief in yourself and your system and know your numbers and make sure they work. Many novice flippers make decisions based on emotion and end up in the red and having to take a bath on the property. If you are serious about having success you should only buy when numbers work and never make a decision on impulse or emotion.
If you are serious about having success in the house flipping business, you need to be sure that you understand the math and the costs associated with your project from beginning to end. In addition, you must also know your After repair value with clarity and without too much uncertainty as this could make all the difference in whether you make a profit. Make sure to stick with mainstream houses, you don’t want to go with out of the box homes that will not appeal to the mainstream. While it’s true that it only takes one buyer, you don’t want to have to wait too long to find that buyer as you will have holding costs. Finally and maybe most importantly is find a good contractor and be sure to keep him/her on task which can be more difficult than you might imagine.
If you are able to follow the suggestions above you will find great success in house flipping. If you are a novice, I would strongly consider partnering up with someone that has a bit more experience and could help show you the ropes. You can have great success in flipping, just be sure that you do your homework, know your math and have confidence in yourself.