It’s great to be a fix and flip rehabber. The upsides far outweigh the downsides IF you make sure that you’re acting wisely as the variety of circumstances in deals change. Joe’s been doing this a long time and he’s learned hard lessons about what to do and what not to do. In this episode Joe is going to outline 4 of the biggest mistakes that rehabbers make and how to avoid them. If you’re a seasoned rehabber or brand new to this type of real estate investment, you’re guaranteed to learn something in this episode, so make sure you listen in to hear Joe’s years of expertise when it comes to making the most on your property rehabs.

Properties can be very cool. There’s lots to like. And when you find a property that you see great potential in it’s easy to get carried away with your enthusiasm for the possibilities instead of sticking to your “analytical” mode and making sure the numbers work for you. The same can be true of properties you have already renovated. You don’t want to fall in love with the job you did to the extent that you can’t let go of it for some sentimental reason. When you’re in the business of fixing and flipping properties, you want to fix them wisely and sell them. Joe’s insights on all of this is powerful stuff for you to apply to your rehab business, so make sure you listen in to this episode.

Everyone who does fix and flips knows they need to save money wherever they can. But too many times and in too many instances rehabbers are cutting costs on things they shouldn’t be, and spending too much on things they shouldn’t. Saving money is important for your profit margins but if you skimp on the wrong things you’ll regret it in the long run. In this episode Joe pulls from his hard lessons learned file to bring you some of the most common places people cut costs when they shouldn’t. You’re going to hear some things most people don’t think to mention, so take a few minutes to hear what Joe’s got to share with you.

If you’re not, you could be spending significant amounts of money that you don’t have to be spending. Many flippers want to go “up scale” when they do the rehab on their homes. Granite countertops, ceramic tile, high end carpet. Hey, it’s nice to see a home with all of those things but here’s the hard truth: In some neighborhoods you’ll be over building compared to the rest of the homes on the market. It might mean that your home sells faster, and that’s great, but it may also mean that you did word you didn’t have to do and the home would have sold just as fast. You could also be putting things into your rehab property that the average buyer in that neighborhood may not even notice or care about. What sorts of things fall into this category? You’ll need to set aside a few minutes to listen to this episode so Joe can give you all the details.

Joe’s always excited to hear that people want to get into the fix and flip market. It’s a great and fun way to earn a living. And though it’s important to get started and learn as you go, you need to make sure that you’re not jumping in ignorantly. If you don’t know how to bid out a job or figure costs, you need to learn those things before you go out to bid on a property. If you don’t know how to find reliable, good quality contractors, you need to learn how to do that before you start hiring your renovation team. Those are just a few examples of the kind of things you can give your best shot but may turn out to show that your best shot is not good enough. It’s one thing to be inexperienced, it’s another thing to be ignorant. You may be the first but you don’t have to be the second. Hear Joe’s advice on this episode of The Flip King.

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