Advice for a First Flip

[Rebecca Palermo]

Any advice for diving in on a first flip? 

[Jonathan Greene]

- Whatever you think the rehab costs are, including what the contractor told you, double it for your first flip.

- However long you think it will take, closing to closing, including what your agent told you, double it for your first flip.

- Make sure you hire a contractor that has references from people you know. Do not let them use all of their subs.

- Make sure you have an agent and/or crew who knows how the town permitting works and how long it is taking right now.

Those should get you started.