Finances,  House and Home

The Dream Of Flipping Houses

When I was in my teens my parent got divorced.  For much of that time I lived with my mother and she had this dream of flipping houses and making money.  It was a good dream – the problem was as she was trying to renovate them and flip them, we had to live there.  I think in order for the dream to work you must live somewhere else – don’t try flipping and renovating the house you are living in.

This life was hard.  I didn’t appreciate it at the time because after all I was a teenager and that meant lots of work.  But as an adult I admire the fact that she had a dream and was determine to make a living on her own and fully support herself and her family.

We all have dreams.  For some people they are dreams without action which make them meaningless.  Whether she failed or succeeded – she took the steps and that first step must have been a doozy.  I can’t imagine the how difficult it must have been to make that first step.  Alone as a parent.  Her parents had long since passed away so I don’t even know if she had the support of her sisters.  Additionally, she didn’t have Pinterest, YouTube or even the internet.  I really don’t know where I would have begun.  Now every barrier she ran across can find a solution online.  In today’s world there are even many shows about flipping houses or even just specific room renovations.  So many great ideas.

As an adult I have now thought about flipping houses so she has obviously made an impression.  I have even thought about flipping campers – like a school bus renovation!  Doesn’t that sound cool!  Or gutting a full size RV and rebuilding it.  The biggest issue would be how do I let something go that I work that hard on?

Pay Cash

To get started with flipping (house or RV), I would pay cash for the property.  It is an investment, not a home.  For homes you can keep an eye on foreclosures and wholesale real estate.  For RVs I have found that many times people just want to be free of them.  They list them for sale but really would take far less.  After all who wants a leaky RV.  Plus if I pay cash I am not stressing out about how quickly I do or don’t finish the project.  Life can easily get in the way and without a mortgage of any kind, the stress is significantly reduced.

The Work

Some of the work can be done by my husband and I – maybe even the kids but they are teens and we know how that goes.  The more work we can do ourselves the more we save.  For the work that cannot be done by ourselves we would get several estimates as they can vary greatly.  I have built sheds, picnic tables etc… and we have “dabbled” in plumbing.  We can do much of the basics.

Cosmetics

Cosmetics can make all the difference.  I would hire someone to do the painting – we are not good at painting and we would need it to be as perfect as possible.  For exterior house painting services, reach out to the experts at Gustafson Painting.

Focus

The greatest focus would be on the kitchen and the bathroom – two areas that every home buyer wants to feel comfortable in. Make sure they are as spacious as possible and clean.

Selling

When ready it is time to sell and the idea is to sell it as quickly as possible but for the right price.  Since we would have paid cash for the property it isn’t as critical to do a panic flip.  We can do it right!

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