Here’s a quick story on flipping Miami homes…
This morning, I open up my email and I have an urgent message from my Closing Attorney:
“We found open mortgages for both houses – this will most likely impact the closings. The mortgage payoffs have been ordered this morning and we are working to get this cleared up. Still, if they do owe on the mortgages, it doesn’t look like these deals will close at your contract prices.”
Basically, what this means is that these 2 great deals were probably not going to close – which in turn means that I was not going to be collecting a couple very healthy checks. Why? Well, because things were discovered when title was run that was not disclosed upfront by the sellers of the properties. So what’s the bottom line? DEAD DEAL.
I put some thought into how this bad news would have effected me as I was just getting started in this business. I’m quite sure that I would have taken the news MUCH harder than I do now. The difference at this point is that I understand that good deals die sometimes, and there’s nothing that can be done about it but to soldier on and work on other opportunities.
This business of flipping Miami homes is really amazing. There’s just so much potential for profit and freedom, but on the other side of the coin, there is a side of the business that can be tough to stomach at times. For instance…
Here are some of the BAD parts:
1) Real Estate can be very frustrating.
2) This flipping Miami homes business will test your patience and your sanity.
3) You’ll be let down sometimes when you least expect it.
Here are some of the GOOD parts:
4) I work from the comfort of my own home.
5) I’m the boss of me and I don’t report to anybody else.
6) I have the freedom to work when I want, where I want.
7) There’s no cap on how much money I can make.
8) I don’t have to request for time off to take a vacation.
When flipping Miami homes, it’s really not all that bad when DEALS DIE. That’s just a normal part of this business. There’s so much good in Real Estate, that you do have to adapt your expectations a little and be able to handle the bad stuff in addition with the good. There’s always going to be new opportunities right around the corner, so stay on the bright side.
DEALS DIE… So, What??