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ACIS Episode 4: Step-By-Step Guide To Flipping Your First House Part 2 Of 2
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In this episode of the Alamo City Investing Show, hosts Aaron Bihl and Jason Lee unveil the reality of real estate investment, focusing on house flipping. They share valuable insights on identifying potential properties, setting realistic expectations, creating contingency plans, and managing finances effectively.
This episode demystifies "fix and flips," shedding light on lenders' expectations and providing inside views of hard money lending. The hosts caution first-time investors about the risks, offer guidance on the loan process, and share crucial advice on contractor selection.
The discussions center on striking a balance between desired outcomes and budget restrictions. The hosts share pragmatic advice about building contractor relationships, understanding aesthetic and cost trade-offs, and making smart procurement decisions.
The show dives into the intricacies of house flipping, urging investors to focus on increasing profit potential over creating an opulent visual appeal. The hosts also discuss strategic sales planning, including the importance of working with a rockstar realtor who can help negotiate successful deals.
Reflecting on the realities of the house flipping business, Aaron and Jason the importance of humility and openness to learning. This episode is a trove of practical tips and real-world experiences for anyone venturing into the world of house flipping.
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