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With Tarek and Christina El Moussa
SUCCESS PATH THE SECRET TO
HIGH RISK & HIGH REWARDSIN REAL ESTATE
INVESTING
THE HOUSE FLIPPING BUSINESS• As with any form of investing, there will always be
some type of risk. Real estate investing is no different. • In the business of flipping houses, you are dealing with
tens and hundreds of thousands of dollars, so if you don’t know what you are doing, it can be extremely risky.• Because flipping houses is lucrative, people are willing
to take the risk to earn the reward.
MISTAKES THAT MAKE HOUSE FLIPPING RISKY
RISKY MISTAKE #1: NOT PLANNING
• One of the biggest mistakes you can make when you’re flipping a house is not planning for all of the expenses involved.• If you weren’t anticipating certain expenses, or you
weren’t aware of the taxes and holding costs or can’t sell the property, you are at risk of losing money.
RISKY MISTAKE #2: RESELL VALUE
• Underestimating or overestimating resell value and costs is another mistake that can lead to you losing money.• You have to learn how to make accurate estimations on
updates you are making on the house. If you think by updating a certain fixture it will sell for more, make sure your numbers are correct.
RISKY MISTAKE #3: OVERPAYING
• Paying too much for a house is one of the worst things you can do if you want to make a good profit.• Don’t buy a property that is too much work. You could
easily sink your whole budget if a problem arises. You can’t pay more to repair and remodel a house than you actually paid for it.
THE SECRET TO HIGH REWARDS
• Success Path is an education program that will help you learn how to navigate all the risks that are involved with flipping houses.• You can attend Success Path workshops to learn the
best strategies for eliminating risks and making a profit.• Until attend a workshop, here are some tips to help you
reduce your risk.
TIP #1: NEGOTIATE • One thing that will help you maintain a good profit
margin is negotiating the price of the house. • If you are able to get the house for less, you will have
more wiggle room in your budget.
TIP #2: INSPECT THE HOUSE • If you are able to get a thorough inspection of the
house before you put an offer on it, you will probably sleep a little better at night. • After a good inspection, you will know the repairs that
need to be made so you can run numbers before you buy the house. This is a big benefit because sometimes you don’t have the luxury to walk through the house before you buy it.
TIP #3: INSURE THE HOUSE • Getting the house insured is something easy to
overlook, but it is a smart thing to do. • You should get it insured as soon as possible because
disasters can happen when you are renovating a house. • Getting the house insured will give you a better peace
of mind.
TIP #4: DON’T CUT CORNERS• In the midst of renovating a house, do not cut corners.• If you cut corners, buyers will notice and they won’t
want to pay the price you are asking for.• Doing things right the first time will save you money
because you won’t have to redo it, and you will increase your chances of actually selling the house.
WWW.SUCCESSPATHEDUCATION.COM
Are you ready to dive in and learn how to flip houses? Let Success Path help you so you won’t flop.