Flip Tip Summary

As real estate investors, most of us have been ‘taken’ by a contractor or vendor. We’d like to believe that we can take people at their word, but it doesn’t always work out that way. Kathy Fettke joins us today to share why it’s important to trust others, but verify what they tell you before you commit. It’s a great tip…don’t miss it!

Flip Tip Transcript:

Mike: Hey, it’s Mike Hambright from flipnerd.com and we have a quick expert tip to share with you from Kathy Fettke, who’s going to share some advice on how to trust but verify when working with others.
This Expert Tip is sponsored by realtymogul.com, B2R Finance and National Real Estate Insurance Group.
Kathy: Well, what I’ve noticed a lot in the real estate industry is you seem to find a lot of very charming people and it becomes really easy to trust them, whatever they say. So, after being this business so long and seeing all kinds of different people, this is the advice I’m going to give you. Sure, trust people with a bright, shiny smile, but always verify the information they’re giving you. And there are so many ways to do that. If you’re purchasing a property, be sure to get inspections. Get inspections from third-party vendors who aren’t involved in the sale or the proceeds and just want to give you real advice. And that would even go to working with property managers. If they give you a bid, get it verified. Make sure that the work was done as promised.
Mike: We’d like to thank Crestar Funding, MidAtlantic IRA and Renters Warehouse.
Please note, the views and opinions expressed by the individuals in this program do not necessarily reflect those of flipnerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.