Dear Dave,
I follow your advice and live on a budget, but it’s really hard to save up for a down payment on a house because property is so expensive on the West Coast. My family thinks I should buy a cheaper property back home, fix it up and flip it to get the extra money I need. How do you feel about this?
Alan
Dear Alan,
When you take on this kind of work, you need to oversee what’s happening every step of the way. You’re working out details, keeping an eye on the crew and it’s all on you to make sure everything’s being done right.
It’s not unusual for pros who flip houses to look at 100 or more properties to buy just one. It’s not an easy way to make money, and it’s definitely not something to consider doing from a distance. All that being said, can you guess what my …