Question on flip this house
I have been investing for a while, and I congratulate you for the numbers on this project. My first one was a big flop, but in spite of that and behind my wives back (so much for family financing) I got involved in a second one that made it worth it and an apology with diamond earrings got me out of the dog house. It is important for people to see smaller numbers, those that speak of ROI of over 50% truly are scary and make it seem like anyone can do it. As a been there done that I appreciate the realistic information.
Devon, thanks for the positive feedback. As I have been discovering in this business, just like you in any other investing venture, there will be good ones and bad ones. I just was fortunate to start off with the good one!
With all due respect the one thing I strongly suggest is to not keep any of these investments from your wife. It sounds like she might have gotten spooked by the first one going sour, which is understandable, but you guys have to talk this through and you have to get her involved in any future projects. I have discovered that this is hard and you need all the help and support you can get. If you work this together you will absolutely achieve more.
Put it down in paper and show her the numbers and show her why this next deal will be better than the previous one. Show her how you will learn from your previous mistakes and how that will help you out. It's OK if she just wants to be a spectator but she at least needs to be aware of what is going on. I think this will make your relationship stronger.
Take a look at my other investment trials on the Flip That House
section and you will see that my returns vary with project. By the same token I have met other investors that have fared much better than I have and others worst. I think it's not about comparing myself to them but learning what I can from them.