Start flipping!
Very few are willing to do the work it takes to get started flipping, but there can be a ton of money in it if you’re smart.
The biggest barrier that trips most people up is finding distressed properties at a deep discount, making offers, and getting a deal under contract.
I’m not saying it’s easy. It definitely takes hard work to find these properties. But most people just don’t take enough action and aren’t willing to do the uncomfortable things for long enough.
Then when it comes to rehabs that’s a whole different skillset that you need to be master, but it’s much easier to learn.
With rehabs it depends on what you’re doing with the property, if you’re going to be renting it out then you can go much lighter on the rehab.
With a lot of our properties we just do the bare minimum to get the property rentable and then if we decide that we wanna get rid of later we’ll invest into some more upgrades that are likely to bring a return.
If you’re gonna be selling the property right away you’ll want to put a lot more into the property so that you get top dollar for your investment and so that it doesn’t sit on the market for too long.
But there’s a fine line that you do not want to cross when it comes to rehabs. You can very easily get too carried away with all of the upgrades and end up over budget. You wanna make sure that if you’re gonna put money into fixing something it’s going to bring a decent return.
Kitchens, bathrooms, LVL flooring, needed appliances, and painting are almost always guaranteed to bring a good return, the rest depends on what kind of buyers you’re dealing with and what problems with the property need to be prioritized.
The most important thing is that you get started and that you refuse to quit when things get hard. Brighter days are guaranteed if you’re the type of person that just won’t quit!
If you wanna team up with me and get help and coaching in your flipping business, book a strategy session with me and my team so we can help you on your journey!
I love helping people and expanding my network. There’s not enough real players in the game to collaborate with so I’m always looking to teach as many people as I can and bring people up with me!
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