How to FLIP Properties as a BEGINNER | Baltimore Real Estate Market

Black Real Estate Dialogue

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This episode with Alex Coleman was inspiring! Alex is a Baltimore-based real estate investor whose journey began all the way back in 2009.
Alex takes us down memory lane, recalling his naïve introduction to flipping houses as a teenager with an entrepreneurial streak. From facing an embarrassing loss on his very first renovation project to struggling to keep his home improvement business afloat during The Great Recession, Alex’s story is yet another reminder that success is within reach no matter where we start.
In this episode, we discuss considerations around working with hard money versus private money lenders, the keys to a great business partnership, and how to properly manage your finances for maximum profit.
Highlights
1) We understandably want to be hands-on with every aspect of our growing business; but, at some point, we need to learn to step back and delegate tasks in order to be able to focus on overall management and long-term growth.
2) Always remember: This is a marathon, not a sprint. Every house you flip becomes part of your track record, and the key to success is to realize that not every project will be a home run, but they all contain valuable lessons that can drive you forward in your career.
3) Whether you’re working with a hard money or private lender, get disciplined with your money and hire a bookkeeper as soon as you can. If you don’t know how much money you spent, you won’t know how much money you made.
How to find him
Website - https://linktr.ee/alrehabshouses
Instagram - @alrehabshouses
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