I had coffee recently
with a retired real estate investor of 40 years. We talked about real estate
cycles, flipping properties, the meltdown of 2008, and other things. He started
telling me about some of his rehab houses, the ones who brought him the biggest
surprises with regard to unforeseen repairs. He told me about tree roots in
sewer lines, sinking foundations, and other big repairs to his rehab houses
that cost him thousands of dollars. I asked him, â€˜what was the biggest repair
or replacement on any of your rehab houses that cost you the most money?â€™ His
answer was a surprise to me.
have been by far my biggest expense in real estate investing,â€ he told me. When
first time real estate investors are calculating their potential profits on a
real estate flip, this is one expense that is most often taken for granted in calculating
their final numbers.
If you are a real
estate investor in either residential or commercial real estate, what has been
your biggest expense in your career? Please share your story.
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private money loans for real estate investing, click here: http://privatemoneyutah.com/loan-programs/