Doing a lot of reflection this week on real estate as a whole & my approach to fix & flips. This journey has been filled with various lessons to learn along with real time experience. I jumped into real estate 1.5 years ago & started flipping mobile homes- that was a bust for various reasons.Now I'm fixing & flipping SFHs & this deal I'm FINALLY getting to the closing table has brought me to my knees. In this 1.5 year, I've LOST $27K.....& that number hit very hard. This SFH flip was in FL. The next is Texas.

#1 this # is PERSPECTIVE & SUBJECTIVE! So to ME, that's a decent amount of cash. I've reframed my thought process to "okay losing 200-ish dollars when gambling is akin to having thousands & now losing $20K+." I know it takes money to make money... However- I HATE losing.
The ending of this deal has me wondering, do I KEEP going? I could list all the lessons I've learned, all of the extra fees that I NOW know will need to be added in, etc. but I won't. I know real estate isn't for the faint of heart & my skin is definitely in the game. My capital, although decreased, I still have enough to do it again & do it as RIGHT as I possibly know how to do with these expensive lessons I've learned. I didn't have a guru, I am self-taught.

My conclusion is, I'll do 1 more flip to recoup my money & build from there. This next flip has to be a win- otherwise I'll stick to what my MA is actually in.

My question to the BP community is, when you've lost BIG how do you stay in the game & motivate yourself? I want to hear a few war stories.

TIA