Falling For This Debt Trap Will Cost You!

If you’re a #flipper thinking about getting into #development, don’t fall into this debt trap. When you’re a flipper, a lot of times when we’re buying properties, they’re very fast #transactions. That’s how we get a good deal. But when you’re developing, you need to switch up your #strategy and #mindset. You don’t want to jump into a project just to find out permits are going to take over a year to obtain. Change the terms. Closing can on #permits allows you to get financing immediately on a project, while not having to carry a debt payment for 12 to 15 months without even having to work on it. Don’t drown in #debt. As you switch your business, don’t forget to switch your mindset and processes.