The hardest part about choosing an investment property is budgeting. Whether it needs a TON of work, or just a moderate amount, the ability to plan ahead and stick to a plan is CRUCIAL in turning around properties. Without budgeting, without planning, and forecasting, flipping houses would really come down to the ‘Luck of the Draw’.

When you have been a small business owner for 25 years, you understand that forecasting financial expenses is a necessity. Even MORE so when you manage a small company, work part time AND manage a household.

But nothing is impossible, if you know how to manage expenses on the computer. 25 years ago, I don’t know how people would have done this, but now things are easier. Being able to seamlessly use Google Sheets, or Microsoft Excel Online is a dream come true. But not everything is as simple as a simple list of expenses.

Being able to leverage the knowledge and experience from flipping 20 homes really helps you to understand where costs should happen. But it’s only through Teamwork- working with some great contractors, and being able to rely on other people. It’s a tough process, but I have some tricks up my sleeve, and I’d love to tell you more.. but I don’t want to share ALL my secrets.