1. Budget your time wisely. If your purpose is to purchase a home and restore, repair or remodel it in a short period of time before re-selling the property, you need to pay attention to the time that the activity on the property is taking. The problem that galore 1st time investors run into with house-flipping is that they did not expect the activity to take so long. Once delays occur, and mortgage payments are accumulating in addition to the cost of materials and labor it can decidedly do for a nerve racking situation. Be realistic with estimates, and always have cash at the available should you encounter an unexpected expense.

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