Trystan Trenberth says real-estate flippers have been overpaying for properties and renovations for three years. Many end up with only $5-10k profit or losses because the finished product doesn't match market value. Success requires sticking to a budget formula, not controlling every detail.
A lot of these people get into it thinking they've got to choose everything instead of just following a budget, a formula that gives the most profit. I mean, you see a lot of these people overpaid over the last 3 years for flips, their first, second, third project, and they might have exited with maybe 5 or 10 grand at the end of it, or maybe even made a loss because they just went full out on everything and didn't just think of creating the product that, you know, matched or slightly exceeded the, the market comparisons.
