![]() ![]() One money-saving tactic could be to move into the house while you renovate it (then you won’t be paying rent elsewhere). It’s much better to overestimate how long it will take then to underestimate - that way you can make sure you have enough money to cover the house flip. ![]() You might be tempted to assume that this will be a quick and easy project, but similar assumptions have taken down more experienced house flippers than you. Research How to Find Down Payment Assistance Programs Depending on whether you’re paying all-cash or getting a mortgage loan (and whether you already own a primary residence or not), you will have to secure a down payment for the home, plan on paying mortgage interest for the months that you carry the mortgage, pay for utilities, and pay for the expenses of actually fixing up the home. Well, maybe you should - we sure won’t stop you! - but before you jump into your very first house flip, make sure you know what common mistakes first time flippers are in danger of making so that you can avoid the same fate.īefore you flip a house, you have to buy it. ![]() Conclusions like, “House flipping looks easy! I should try it!” When you binge-watch a little too much HGTV, it’s easy to come to some crazy conclusions. ![]() 16 Common Mistakes That First Time House Flippers Make ![]()
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