Flipping for BIG Profit ??? Really ???

I love the reality shows.  Buy low, sell high, make a bundle. $50,000 profit.  Really?

You pay $100,000 and have a mortgage.  There are points and closing cost.  There are monthly carry costs on the PITI, insurance, gas, electric and water.  There are dumpster fees.  There are permit fees (maybe).  There are material costs.  There are budget overruns.  There are labor costs.  There are re-sale commissions.  There are seller concessions.  There are transfer taxes.  There are title insurance costs.  There is all of your time.

You didn't really make $50,000 !!!!!!

I don't know how many re-hab flips I have done.  It is a lot.  Not once have I gotten the work done in a week, property marketed, open house held and property under contract on the first day.  Never have my open houses brought in 100's of people.

Ugghhhh. 

Ladies and gentlemen, flipping is not that easy.  If it is, I must be doing it wrong.  Like anything it is hard work with a little luck thrown in.  It is ALL MATH and calculations.  Detailed spreadsheets and budgeting.  It can be done.

Please Please Please do not believe the TV.