House flipping has become all the rage over the last few years. There are a variety of TV shows that make flipping houses seem easy, fun, exciting and profitable. This trend has attracted many people to jump into the house flipping market especially during a time where our economy and the stock market have been uncertain. Especially when you see every day normal people on TV that don’t look any smarter than the average person successfully flipping houses and making lots of money.
Well, like anything worth having in life flipping houses is not easy so don’t make the mistake of jumping in head first or using a TV reality show as your guide on how to flip houses. Tweet This If money is your only motivation for getting into flipping houses you might want to reconsider your decision. Rehabbing houses can be very profitable but it is also a lot of work. Many successful investors will tell you stories about money they have lost during their investing experience. You don’t have to make the same mistakes we did, but it could happen especially if you don’t have the right training. Even with training and experience you can still get hit with the reality of something unexpected going wrong. People who have made house flipping a business or part-time venture love what they do and enjoy taking a ugly undesirable house and turning it into a beautiful home they would like to live in.
Flipping houses can be fun, exciting and profitable with the proper training, guidance, creativity, desire and action. Tweet This If you are serious about your interest in flipping houses please understand that you make your money when you buy the house right and you realize your profit when it’s sold. Tweet This Start your journey by researching this subject matter and getting the proper education and seriously consider getting a mentor. Seminar training will range in price from $1,000 to $50,000+. Working with a coach or mentor will typically range from $5,000 to $25,000+. These numbers may seem high, but in reality they aren’t if you receive real world training that you can immediately apply to your business. You can make that money back in your first one or two deals. You may be thinking, “Well, I see so much free information on the internet I can learn this myself.” If you choose this route you can achieve your goal of flipping a house, but if you are looking to do this on a consistent, predictable basis I would highly recommend getting in depth training and working with a mentor or you will end up paying the same amount is mistakes on your deals. Ask me how I know? I can give you numerous stories of investors who have learned from the school of hard knocks and many of them are no longer investing in real estate because they lost too much money. However, those who continue after a loss really love this business, see the potential for great financial rewards, and their passion for real estate is greater then the money they have lost. Good luck with your decision and enjoy your journey in the real estate market.
Get Our Free Report!
Subscribe to Rehabber Pro and get up to date info on blog posts, our upcoming events, and rehabbing related news!