The FORMULA to grow your portfolio and wealth: Buy and flip 2 or 3 or hold 1; repeat The diversification helps you build net worth and keep the cash flow going. Not an overnight business: it’s a lifetime business
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TIP #6: For Buy and Hold:
Tip #5: For Flipping
You won’t make $50,000 on every house, every time- especially at the beginning. ROI is KEY!! What is your projected ROI? The 2 biggest factors in ROI: Buying right and Seller’s contribution. Rehab budget is KEY!! Accurate? What was missed or wrong in the estimate? Time and patience is KEY!! Over the long
Tip # 3: It’s ALL about leverage!
Tip 2: Develop Your Network Build your network and work closely with those who know the area and understand the local market. You don’t win by shopping for the least expensive person; the cheapest guy in town is never the cheapest guy in town. Meet ups and conferences allow you to meet peers and to
TIP #1: WORK LOCAL AND THINK LOCAL • Know Baltimore (or your local area) • Do your research both online AND in person • Research closed sales history online and in publications • This will help you find the pockets of opportunity and understand the prices and, in turn, the returns • Understand the risks