I'm finally doing something many of my investor clients do: flipping a house in NJ. In just the first week since closing, I'm learning how important it is to: * have a plan of action, including a contractor lined up well in advance * get quotes on work quickly * be able to navigate disagreements with a team of 6 other investors, and arrange meetings once a week to go over problems and progress * buffer into your budget at least a 10-15% margin for extra costs * TRY to stick to a timeline * don't get overly upset when the house throws you a curve -- such (14 comments)