And it helps you set a realistic budget.

Cash Flow + Project Tracking SystemEven great lead flow and dispo won’t save you if your finances are a mess.What to track:Incoming and outgoing money weeklyFlip budgets, draws, and burn rateMarketing spend vs.

Here is what I've learned though:You gotta have the budget in order to compete against other wholesalers.

With the amount of work and time we put into the renovation, we ended up spending $200,000.We decided to list the home at $470,000 based on an appraise we paid for in order to maximize our selling value and increase profits.

We keep a large contingency budget in the bank so we are always covered.We also don't have an LLC as it isn't really necessary for a single rental. 

It's generally not recommended to spend all your cash on one property and leave yourself with little to no reserves. 

After a tough experience in my last W2 job, I’m seriously exploring real estate as a way to build long-term income and more flexibility for my family.Quick background:I’m a project manager by trade (15 years) and comfortable managing reno timelines, teams, budgets, etc.Married with two kids.Currently unemployed, but our household income usually runs around $200K/year.After my parents passed, we sold their home and used the proceeds to buy a house up north.

How about some guidance on doing this at the lowest cost possible Hi James,  it does depend on lot of factors like budget, competition and knowing which channels return the right ROI.

@James McGovern, here ya go:Based on the available data, home staging significantly impacts the real estate market by reducing the time homes spend on the market and increasing sale prices.

What is your budget?