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It also takes a lot of passion.
Gaigin Saini knows this firsthand.
Hell be the first to tell you that flipping a house requires skill and talent.
But most of all, it demands passion, patience and a willingness to learn.
He shared some of his insights with GOBankingRates on how others can successfully flip houses, too.
Instead, Saini kept learning about house flipping and jumped headfirst into the process.
Right away, the California-based investor recognized hed need an expert, on-the-ground team in Metro Detroit.
If youre doing it out of state like I am, then your biggest asset is your local team.
They will make or break you.
He also learned that making money as a house flipper depends on doing things the right way.
His first piece of advice?
Work with a reputable agent who is highly knowledgeable about the area.
He also uses his website to generate leads and attract attention from homeowners looking to sell quickly.
Owning rental properties means budgeting for repairs, dealing with city permits, and managing tenant turnover.
He advises anyone using debt to finance a flip to set aside ample reserves for vacancies and property repairs.
However, he never loses sight of the value his work brings beyond just financial gain.
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