JF57: Peek-a-Boo I See You: Overlooked Costs on a Fix and Flips

<p class="MsoNoSpacing">How much did it cost to fix up? What did you pay for it? How long did you hold it? What did you sell it for? Those four questions are the four that are typically asked when evaluating the success of a fix and flip deal. However, today’s Best Ever guest shares with us secret, hidden and…spooky (ok, not spooky but it is Halloween season…) expenses that usually get overlooked.</p> <p class="MsoNoSpacing">Tweetable quote:</p> <p class="MsoNoSpacing">It’s a learning experience. It’s not a failure.</p> <p class="MsoNoSpacing">Mark Ferguson’s real estate background:</p> <p class="MsoNoSpacing" style= "margin-left: .5in; text-indent: -.25in; mso-list: l0 level1 lfo1;"> <!-- [if !supportLists]-->-<span style= "font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">       </span> <!--[endif]-->Real estate agent since 2001</p> <p class="MsoNoSpacing" style= "margin-left: .5in; text-indent: -.25in; mso-list: l0 level1 lfo1;"> <!-- [if !supportLists]-->-<span style= "font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">       </span> <!--[endif]-->Fixes and flips between 10 – 15 properties a year  </p> <p class="MsoNoSpacing" style= "margin-left: .5in; text-indent: -.25in; mso-list: l0 level1 lfo1;"> <!-- [if !supportLists]-->-<span style= "font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">       </span> <!--[endif]-->Runs a team of ten that has sold an average of 200 homes a year over the last four years</p> <p class="MsoNoSpacing" style= "margin-left: .5in; text-indent: -.25in; mso-list: l0 level1 lfo1;"> <!-- [if !supportLists]-->-<span style= "font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">       </span> <!--[endif]-->Owner of 11 investment properties</p> <p class="MsoNoSpacing" style= "margin-left: .5in; text-indent: -.25in; mso-list: l0 level1 lfo1;"> <!-- [if !supportLists]-->-<span style= "font-stretch: normal; font-size: 7pt; font-family: 'Times New Roman';">       </span> <!--[endif]-->Founder of Invest Four More (