In this episode, John and Kyle discuss the costs involved in flipping houses and thechallenges that arise during the process. They emphasize the importance ofunderstanding the true costs and potential risks before getting into flipping. They breakdown the costs step by step, from the initial purchase to the final sale, highlighting thevarious expenses that can eat into potential profits. They also touch on the currentmarket conditions and how they impact the flipping business.Key Takeaways:• Flipping houses requires careful consideration of all costs involved, including closingcosts, repairs, holding costs, and selling expenses.• It is crucial to accurately estimate repair costs and budget for potential overages.• Market conditions and location play a significant role in the profitability of a flip.• Real estate agents, lenders, and other professionals involved in the process shouldbe factored into the overall costs.Quotes:"Everybody who's ever walked into a Home Depot thinks they can do it." - JohnTeixeira"Labor is expensive now, and those construction costs have gone up significantly." -Kyle TeixeiraYou can listen to We Are TPM on any major podcast platform including ApplePodcasts, Google Play, Spotify, and many more.Tune in today!We Are TPMTeixeira Property ManagementMansfield, [email protected]———————————————————————————There are a vast amount of ways in today's world to build wealth using real estate andinvesting, not just in property, but in yourself!Located in the Dallas-Fort Worth area of Texas, John Teixeira and Kyle Teixeira ofTeixeira Property Management bring you all of the knowledge and experience they canprovide for the confidence to achieve your investment goals, or how and why to createthem. Now, while John and Kyle have a ton to share, they will also be bringing youinterviews with some of their clients, industry partners, experienced investors, andmuch more every week!John and Kyle look forward to sharing the knowledge you need about arguably thegreatest investment vehicle that is available to the masses — Real Estate. Knowledgeis power, and John and Kyle intend to give you as much power as possible. It's notalways about the HOW, but also the WHY, and they will be digging into it right hereevery week!

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