Miami Mortgage News

71- Why did I make less than $30,000 in 2007?

April 9th, 2017 7:44 PM by Nour Ailan

Why did I make less than $30,000 in 2007?

When I made less than $30,000 in 2007 I was trying to sell houses as a real estate agent and flip houses with my father. I loved flipping houses, but was less excited about selling houses as a real state agent. I did not like cold calling, holding open houses, talking on the phone or many of the other tasks it takes to be a successful agent. I wanted things to happen for me, without stepping out of my comfort zone. It was no surprise that I did not find much success and I did not make much money as an agent. It is pretty rare to find success if you aren’t willing to step out of your comfort zone and take chances.

The biggest mistake I made that year was fixing up one of our flips myself. I replaced windows, doors, a kitchen, baths, flooring and fixtures. I worked very hard to fix up this house and it took me six months to finish. I learned a lot about construction during this process, but I also learned to never fix up a house myself again!

While I was busy fixing up this house, we were not buying more flips and I was not selling any houses as an agent. I didn’t have time to do anything else and it was not fun doing manual labor every day. Even though I thought working on this house myself would save me money, it cost me much more money in opportunities lost. The really sad part was we lost money on this house, because of a declining market and it took me so long to repair it.


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Posted by Nour Ailan on April 9th, 2017 7:44 PM


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