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Foolish Assumptions
If you’re reading this book, I assume you’re a homeowner. I wouldn’t buy a car from a salesperson who didn’t drive, and I wouldn’t buy a house from someone who rents an apartment. When you own your own place, you pick up some street smarts about the value of a home, its emotional effect on people, its value as an investment, and the work required to properly maintain it. If you’re not a homeowner, sell this book and put the proceeds toward a down payment on a house. Come back in a couple of years. I’ll be waiting for you.
Other foolish assumptions I’ve made include
You’re of sound mind and body. You can be a little flighty and out of shape, but if you can’t make rational decisions or talk coherently on the phone, or you don’t have the physical strength and energy to get off the couch, house flipping may not be for you.
You’re interested in residential, not commercial, property. Assuming you’re new to this house flipping thing, focus on the type of property you would buy as a homeowner. Later, when you’re more experienced, you can venture into the world of commercial real estate.