![]() I also missed out on many opportunities with work, because I spent so much time working on the house. The worst part was the stress it put on me to finish the stupid house. I also did not do a great job with some of my repairs and had to have a contractor come in to make sure I did things right. Because the carrying costs are so high when flipping, any savings from labor were gone. I thought it would take me a couple of months to finish the work on this flip and it ended up taking me over 6 months. Removed a wall (had a contractor help me with this).Doing the work myself cost me more money than hiring a contractor because it took me so long to do the work. ![]() I thought I would save money on labor by working on the house and avoiding hiring a contractor. I made this mistake on a flip I bought in 2006. Doing the work yourselfĪnother huge mistake flippers make is doing the remodeling work themselves. Selling a flip also usually takes much longer than the shows portray as well. ![]() House flipping shows also show the flippers doing their own remodel, which does not happen in the real world and is another mistake house flippers make. According to popular home remodeling experts, when you see the house flippers buy a property for $100,000, put $30,000 of work into it and sell for $200,000, they did not make $70,000, they most likely made $40,000 or less once you figure all the other costs. These costs can easily add 10 to 20 percent of the selling price to the budget.
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