Here are the top mistakes to avoid in flipping houses:
1) Hiring the wrong team members. You should know how to leverage other people’s time, talents and resources. Do the necessary background research on them particularly your General Contractor–get referrals, check if they’re reputable, etc.
2) Involving in a badly financed deal. Hard money loans are asset-based only loans. Usually, they don’t require good credit, but they have a high interest rate and can be extremely pricey. If you don’t sell it fast when it’s done, you can be enmeshed on a bad deal.
3) Facing irrational fears. If you always second guess yourself and your decisions, then it’s time to get a mentor. They can also help you to correct your mindset.
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