Although I have been investing for over 10 years, I have never led one of our fix and flip projects myself! So I decided to take the plunge, and I made my first offer on a fix and flip deal. I thought it was a “done deal.”
Related: 3 Tips to Greatly Reduce Risk When Buying, Fixing, & Flipping Properties
However, I ended up backing out of the deal and canceling the contract. I learned some extremely valuable lessons during this process that I wanted to share in this short video.
How to Analyze a Real Estate Deal
Deal analysis is one of the best ways to learn real estate investing and it comes down to fundamental comfort in estimating expenses, rents, and cash flow. This guide will give you the knowledge you need to begin analyzing properties with confidence.
What I Learned From Backing Out of My First Fix & Flip Deal
[Editor’s Note: We are republishing this article to help out our newer readers.]
Have you ever backed out of a deal? What did you learn in the process?
Let’s talk in the comments section below!