You Win Some You Lose Some – The Reality of Buy and Sell
Property prices fluctuate from time to time and people who have made it their business to buy, fix and then sell properties have accepted the fact that it is a game of chance. Some make it big with true finds, getting gold for something they paid silver for earning a hefty profit in the long run, but even they will get some lemons disguised as honey from time to time. Hidden costs often plague such practices so contingencies are always a main part of the whole business. Building flaws that eluded the inspector, dry rot or the very much damaged plumbing system, all these are some of the dangers of the business.
Risk is a real part of the real estate business as even the biggest names in the business have found out with both Mack and Mae declaring losses in the billions. People sometimes strike it big, only to lose it with the next couple of jobs. Some simply love the work of turning something ugly into something beautiful for the fun of it, but the bottom line is that business is business and any costs that exceeds the budget are considered losses.
