Potential Glitches That Will Make You Glad You Got Real Estate Coaching Before Your First Flip - Strategic Real Estate Coach
Potential Glitches That Will Make You Glad You Got Real Estate
Coaching Before Your First Flip
Is Real Estate Coaching a Brilliant Move? Or a Frivolous Waste?
You have the money secured and you are very motivated. For months you have thought
about the potential for profit that flipping a house could bring you. And you recently
binge-viewed seasons one and two of the most popular house flipping show. Now is the
time for action, you are going to flip a house. When a friend suggests you get some real
estate coaching before you embark on this adventure you just see that as money and
time wasted. You have the finances secured and are motivated, what else is needed?
The more you can do by yourself the easier this will be and the higher your profit.
The house that will be your first step to real estate investing success has been located.
Your bid is accepted and now comes the paperwork. Documents with many paragraphs,
a great deal of information and many areas that you need to initial and sign. After giving
the paperwork a once over you sign. You are nervous but that comes with an
This Is Where Your House-Flipping Dream Goes Bad
The renovations and repairs start and when the first wall is opened up you see an
electrical mess. The contractor you signed on isn’t secure with electrical work so you
need to find an electrician. The township offices present you with a laundry list of
permits that are needed to do the required repairs. Once all the permits are secured, all
of the supplies are purchased, the repairs made, and renovations are done it is time to
put your investment on the market. You consider adding in the cost of all the antacids
you consumed during this into your asking price.
That friend who suggested you seek real estate coaching stops by to see the house.
You regale them with all of the obstacles you have overcome and the plans you have
for the profit you will make. They suggest that maybe it would have been easier if you
had gotten that guidance. You are looking at it as a character building experience.
The house is finally on the market. There are open houses and an offer. Then the offer
falls through. The house isn’t selling. The taxes have gone up due to the renovations.
You need to maintain the property to keep it looking its best for showings. You are
watching your potential profits be drained as the house does not sell.
The Best Kind of Wake-Up Calls Put an End to Nightmares
Then you wake up when your phone rings, it is your real estate coach. The coach who
has taught you how to research your local market and who is guiding you as you learn.
Together you have a list of all permits that are needed and what is and isn’t allowed
when it comes to flipping a property. You have forms that guide you using established
formulas where you work out all the numbers. A step-by-step plan (and a back-up plan)
is in place that gives you the confidence to bid against other investors. A licensed
contractor has been found and you have established a good relationship.
That bad dream that had you mired in a flip gone wrong was just the result of stress,
something all investors face. Your share it with your coach and they help you work
through your worries. Your mentor keeps you motivated, helps you discover what you
want and is there to help you achieve it. Real estate coaching brings you the experience
and knowledge that comes with time and also a person who is there to analyze your
decisions and guide your steps.
We all encounter enormous opportunities on a daily basis. The trick is learning to spot
them, then how to take the right action at the right time to make the most of them.
Josh Cantwell of Strategic Real Estate Coach is dedicated to giving real estate
investors and agents the best, most up-to-date resources, training, tools, techniques,
tips, videos, news, interviews and insider information on today’s best strategies and
techniques for investing in real estate in today’s troubled market. You can learn more
about his real estate coaching programs at: www.StrategicRealEstateCoach.com.