Why You Have to Move Fast on Investment Property

by Anonymous

This One Won't Last Long!

This One Won't Last Long!

A couple of years ago a house down the street from mine was put up for sale. It was literally less than a block from my house.

I’m quite handy with remodeling, and can do everything from simple plumbing, to framing, to painting. It would have been an easy project since it was so close to home, and all the repairs this house needed were simply cosmetic.

I didn’t act fast enough since the loan would have really stretched me thin at the time. Every time I drove by for nearly a month, the house was still for sale. Until one day I noticed the for sale sign was gone and so were my hopes of buying my first “fix and flip” house.

Shortly after the house was sold, I saw a construction trailer parked in front. A quick fix-up that took them about a month and the house was back on the market for $40,000 more than it sold for originally. It sold again within weeks.

Every time I drive by I think “that’s the house I could have made $40,000 on.” Then tell myself the next one will be mine.

Comments for Why You Have to Move Fast on Investment Property

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Make It Up - Buy & Hold!
by: Lanard

Ouch! I feel your loss!

It's one thing to think that you might be missing out on a good real estate investment, but it is another when you actually know that you did.

Still, you don't have a crystal ball and couldn't know for sure at the time that that property would be so profitable. Buying and selling real estate is risky and no sale or transaction is guaranteed until the ink is dry on the closing papers.

Fortunately, there are still many opportunities to turn a profit on in the current market. However, the more profitable strategy may be to buy and hold, verses flipping...and If you can do that you might be able to make more money than the $40,000.00 that got away.

Stay positive and good luck!

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