My friend, Liz, and I have been meeting for tea almost every Sunday afternoon since we both became moms. Even now, with our kids in their first years of college, we meet to talk about the challenges of raising children, the cost of maintaining our homes, the love we have for the dogs, the latest news from the school board—you name it, we talk about it. Last Sunday, we added flipping houses as a career to the agenda.
I started buying, renovating, and selling houses part-time when the kids entered elementary school. By the time they were in high school, I was a full-time investor. Liz, on the other hand, had returned to her work as an account executive at a marketing firm but was thinking about quitting her corporate job to start investing in real estate too. She said she admired the freedom I seem to have in my schedule, as well as the satisfaction I possess for the work and wanted the same. I was thrilled. I’ve always thought her work ethic suited real estate investing. So, we let the guys know we were gonna be a while longer and made another batch of tea.
How to Get Started Flipping Houses as a Career
When I wanted to know how to get into real estate investing, I didn’t know who to reach out to for advice. Luckily, being a general contractor, my husband did. So, I had the benefit of getting started on the right foot with guidance from an expert investor he worked with. That advice helped me gain momentum and keep it going. And, when the opportunity arose to transition into a full-time real estate investing career, I was ready. But, I know that getting advice on a new career path can be tricky, even disastrous, if you’re entering a field with a potential for risk like investing, and are ill-advised. So, below are the tips that I received when my kids, and my business, were small, but that helped my career grow as the children did too.
- Education. If you’re like me and are coming to the world of investing with no previous experience, joining a comprehensive real estate investor training program is a must. There is a lot to learn about buying, rehabbing, and selling houses professionally. So, it’s not only essential that your training covers everything from evaluating deals to marketing your business, it’s critical that you’re taught by experienced and successful investors. Where you’re educated can make or break you in real estate investing.
- Plan. Before I flipped my first house, I created a real estate investment business plan and I suggest you do too. Whether you’re a parent or not, modern life is demanding and full of distractions. And, when you’re working for yourself, it’s easy to get thrown off track if you’re not clear about your goals or how to attain them. A business plan helps you remain vigilant about reaching deadlines, achieving milestones, and adjusting course if and when you need to. Plan for success and you just might get it.
- Support. I needed a lot of support from my fellow real estate investors the first few times I bought and rehabbed a house to sell. Flipping houses was harder than I thought it would be, but my team was there for guidance every step of the way. My network advised me on everything from getting enough repair estimates to how to protect my investment properties with the right insurance. They kept me from making rookie mistakes early on, cheering me on through good times and bad. And, when I needed specific advice on a troublesome deal, my real estate investing mentor helped me get back on my feet and stay there. Success is easier to achieve with a supportive team.
- Tools. I know from experience that, without the right tools, building a solid real estate investing career is nearly impossible. Having access to the best marketing tools available increases your chances of finding distressed homes that you can rehab and sell. Having a valuation tool, like HomeVestors®’ proprietary valuation tool, ValueChek™, makes it more likely to achieve the best potential ROI. Even having a real estate software program specifically designed for investors can make it easier to manage and track your deals, which you’ll need as your business grows. Invest in the right tools from day one and your investing career could take off.
- Property. The last piece of advice I can give you is to buy property. At some point, you’re going to have to make the jump and put your education, planning, support, and tools to the test. There are risks to investing in residential property, so the leap can be a scary one. But, if you seek and implement expert advice like I did, flipping a house—and starting a new career as an investor—is possible.
Of course, getting expert advice on how to get started doesn’t mean you’ll have all you need to keep your career going strong. But, with a little luck, and a lot of elbow grease, it is possible to keep up the momentum—especially with a real estate investing franchise behind you.
Get Started on the Right Foot with the “We Buy Ugly Houses®” Team
The expert investor my husband introduced me to, back when I was wondering how to get started in a real estate investing career, turned out to be an independently owned and operated HomeVestors® franchisee. And, when I called HomeVestors® to get more information about becoming a franchisee too, I was assured I’d get all the training, support, and tools that I’d need to create, and keep, the momentum going as long as I put in the work. No stranger to hard work—I am a mom, after all—I joined the “We Buy Ugly Houses®” team and started down the path to building a solid investing business. That decision has paid off in more ways than I can count. Being able to work at a satisfying job and spend quality time with my family is a dream come true—and definitely worth talking about. Liz is about to find that out too.
Call the HomeVestors® team to talk about franchise opportunities today. You, and your family, will be glad you did.
Each franchise office is independently owned and operated.