Like so many people who dream of securing a good income in the real estate business, I got my feet wet (actually, almost drown.) in the house flipping business. I was inexperienced and more than likely made all the mistakes that could have been made.
In early 2006 my sister Sarah, who was a new real estate agent at the time, convinced me to buy an old 1930’s fixer upper home for $38,000. The price certainly seemed right and I could see the potential in the old home. Like so many who have come before me, thought I could complete all of the necessary things to rehab this home and sell it for a profit. I couldn’t have been more wrong! I knew the old home was going to need lots of structural work, cosmetic work and landscaping. I purchased the home with a construction loan, and began hiring contractors.