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How to Flip Successfully The First Time

You turn your rent money into equity
You are not under the gun for deadlines
You can save money and do projects as you can afford them
You can take more time learning about carpentry, decorating etc.
You can shop for bargains and save even more
You don't have to worry about subcontractors showing up for completion deadlines
You may be able to take advantage of free labor of friends and family
You don't have two mortgage payments to make.
You won't be under stress of deadlines
You will be able to enjoy much more of your free time
You can wait until the market is right for a sale

You plan on moving in three to four years
You may have to live in the midst of partially completed projects
You renovate to sell not to live in
Your end profit will take a little longer to realize

not be

You will not have to move
You will not have to live in the midst of partially completed projects
Your end profit may come quicker

You are under the gun for deadlines
You may not have enough self-contractor experience
You may be dependent on subcontractors for completion
You have to find subcontractors
You may pay more for labor in busy times
You may run into unexpected repair problems
You have less time to shop for money saving bargains on materials
Your completion may be affected by the weather
You may have to make two mortgage payments
It may cost you more money than anticipated (and probably will)
It may take you more time than anticipated (and probably will)
You will have less free time
You may have increased stress
The MTM factor could ruin you

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