A friend of mine decided to get involved in flipping. she had never done this and asked for my advice from time to time, through the whole process. She began with enlisting a boy friend who would end up doing most of the labor, as he had nothing to invest. They went to the county action and won a bid on one of the houses they had viewed earlier. I had counseled them about making the minor updates needed and mainly getting the house back into original shape, keeping the investment price down. But they decided to do a few more updates, Putting the price that they had to get in order to make a profit, out of reach. Granted the house looks nice and has great new feachers. The owner has decided that the next house will be bought through a forclosure, in hopes of getting a better price than a auction. Also she will have a written plan and agreement with futer partners.
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