Flipping Houses

51 Times When Flipping Houses Is AWESOME

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FLipping Houses

Last week, I went over 43 times when flipping houses is NOT all fun and games. Things are not always hunky-dory, but sometimes it can be a lot of fun. We’ve got to look at the other side of the coin, the side that looks like a coin from Chucky Cheese.

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Let's take a look at some of the times that make the house flipping business the cat's meow.

Number one is definitely numero uno.

  • 1. When you get a big fat check at closing
  • 2. When you see a complete dump transform into a showplace
  • 3. When the neighbors of the house you are fixing shake your hand and thank you
  • 4. When you forget what having to wake up and go to work is like
  • 5. When you are cruising down the road and realize the other direction is all backed up and clogged with people going where they don’t want to go
  • 6. When you prank call other investors
  • 7. When you receive prank calls from other investors
  • 8. When you plan ways to decrease values so that you can buy houses cheaper
  • 9. When your kids tell you that you are ‘assessed’ with houses
  • 10. When you make as much on an assignment as some make all year at a job
  • 11. When you get a cash buyer wanting to pay full price for your fixed up house
  • 12. When buyers don't ask for any repairs after an inspection
  • 13. When you receive that first call from a truly motivated seller and realize that they do exist
  • 14. When you put that first deal under contract and are not sure if your excitement exceeds your nervousness and worry
  • 15. When you can go on vacation for as long as you want
  • 16. When you don’t have to miss anything your kids do
  • 17. When everyday can be “bring your kid to work day”
  • 18. When you realize that you underestimated the After Repair Value for the house
  • 19. When you realize that you over-estimated the repair cost on a rehab
  • 20. When a business meeting with other investors consists of crazy stories about crackheads
  • 21. When you finally learn that it is better to delegate certain activities that you despise
  • 22. When you have a seller so happy that you are taking care of their problem that they thank you a hundred times
  • 23. When you find something awesome left behind at a houseFLippingBookAd300x250
  • 24. When you get to explore awesome neighborhoods that you didn’t even know existed
  • 25. When you find out that you’ve gained some street cred
  • 26. When you receive multiple offers on the first day you put a house up for sale
  • 27. When the first investor buyer wants to snatch up your wholesale deal
  • 28. When you make more on a wholesale deal than a typical fix and flip
  • 29. When you realize that all you have to do tomorrow is go and see one house
  • 30. When you are out flying your airplane on a perfect weekday morning
  • 31. When you finally realize that all it really takes is getting a decent amount of leads
  • 32. When you find out that a seller accepted your offer, even though it was lower than your competitor’s, because they liked you more
  • 33. When a seller accepts your offer within a millisecond of making it (this can create some worry at the same time – What did I miss?)
  • 34. When you get a call from someone wanting to sell their house that got a letter from you 2 years prior
  • 35. When a house you thought would take a while to sell sells right away
  • 36. When the mayor wants to give you the key to the city
  • 37. When you use the profit from a deal to take an awesome vacation
  • 38. When you can spend your morning with your wife ‘planning’ at Starbucks
  • 39. When you can finally wear that hawaiian shirt that full-time investors wear to real estate investor association meetings
  • 40. When you go to a meeting with the people that still work where you used to and they all have to get up and leave after 45 minutes and you don’t have to be anywhere
  • 41. When you get to call your own shots and decide what you are going to do each and every day
  • 42. When you finally accept the fact that making money is not difficult
  • 43. When you realize that you no longer trade hours for dollars
  • 44. When you realize that you haven’t heard ‘corporate talk’ in a long time
  • 45. When going to the office, means going into the other room
  • 46. When you drive through a neighborhood and realize that you’ve done a deal on almost every street
  • 47. When you buy a house and then turn around and buy the neighbor’s house
  • 48. When you go to a city hearing to convince them to not demolish a house, acting like a regular Joe so as not to appear like an investor and having one person on the board whisper to the other and have them ask you point blank if you are an investor
  • 49. When you and your wife crawl in through a window to see a vacant listed house only to have the police pull into the front yard and a neighbor block the alley with their truck within minutes (good thing we knew the listing agent)
  • 50. When title companies want to wine and dine you to get your business
  • 51. When you find an incredible community like BiggerPockets 🙂

Ok, so the mayor didn’t really want to give us the key to city, but we probably have over 100 keys that we don’t know which house they belong(ed) to.

Please share your “awesome” moments. I’d love to hear them. If you haven’t gotten there yet, please share what you look forward to the most. Writing these things down (or typing them) can be very powerful.

Photo: Digital Sextant

    Mark Ferguson
    Replied over 7 years ago
    Awesome! I think 21. Is the key to it all. Once you can let go of the tasks you hate and start delegating life gets so much better. Plus more deals and opportunities seem to appear the more time you have.
    Danny Johnson
    Replied over 7 years ago
    Absolutely. It’s amazing how hard that was for me. If I’d only done it early and more often. Reply Report comment
    Danny Johnson
    Replied over 7 years ago
    Absolutely. It’s amazing how hard that was for me. If I’d only done it early and more often.
    Mark Ferguson
    Replied over 7 years ago
    Awesome! I think 21. Is the key to it all. Once you can let go of the tasks you hate and start delegating life gets so much better. Plus more deals and opportunities seem to appear the more time you have.
    Glenn Espinosa
    Replied over 7 years ago
    When your contractor completes work on time, on budget and up to your standards – said no flipper ever. 😛
    Danny Johnson
    Replied over 7 years ago
    LOL. That explains its absence from this list.
    Glenn Schworm
    Replied over 7 years ago
    Nice article Danny. Sometimes we get so caught up in all of our war stories we forget about why we are in this game in the first place! This was a good reminder! Thanks for writing!
    Danny Johnson
    Replied over 7 years ago
    Thanks, Glenn. I don’t think remind ourselves enough.
    Josh Randall
    Replied over 7 years ago
    Nice. I especially like that it’s longer than your other list. Thanks for the motivation Danny.
    Danny Johnson
    Replied over 7 years ago
    It had to be. 🙂 We could probably easily collectively come up with a 1000 times flipping houses is awesome.
    Danny Johnson
    Replied over 7 years ago
    It had to be. 🙂 We could probably easily collectively come up with a 1000 times flipping houses is awesome.
    Gary Parker
    Replied over 7 years ago
    I agree with Mark F number 21. I am starting in small steps to do this. I really think it is all the little things like research for marketing, reconciling the AMEX bill, doing work yourself on a house and so on. It is also the concern of “what if my deals slow down and I cant pay my assistant after increasing her hours”. Just yesterday I talked with my very part-time assistant about scheduling an appointment for next week to start training her on working through the AMEX bill and allocating the expense to the correct job. I am picking the stuff I hate to do and getting someone else to do it. Your article was very timely for me!
    Danny Johnson
    Replied over 7 years ago
    Hey Gary. Life becomes so much easier and fun when we can offload the stuff that drives us crazy. I know I still have a some work to do in that department but I am getting better at it.
    Danny Johnson
    Replied over 7 years ago
    Hey Gary. Life becomes so much easier and fun when we can offload the stuff that drives us crazy. I know I still have a some work to do in that department but I am getting better at it.
    Karen Rittenhouse
    Replied over 7 years ago
    if only there was something useful we could do with all those keys…..
    Danny Johnson
    Replied over 7 years ago
    LOL. I always have a hard time just throwing them away.
    Cristina Corredor
    Replied over 7 years ago
    What a REFRESHING and inspiring article, I’m really new, so I’m still working on my first deal, I will remember you and your article when that happens!
    Danny Johnson
    Replied over 7 years ago
    Thanks and good luck, Cristina.
    Cristina Corredor
    Replied over 7 years ago
    What a REFRESHING and inspiring article, I’m really new, so I’m still working on my first deal, I will remember you and your article when that happens! Reply Report comment
    danny abalos
    Replied over 7 years ago
    i love this list danny and your name rocks i’ve been thanked by neighbors and it does feel good i also transformed a real dump into a very nice starter home and closed last week, after 9 months…ouch! i haven’t made any money yet but it was my first deal and i think i over fixed but i sure did learn a hell of a lot my second one is under contract and i should actually make a nice profit on it bigger pockets is an awesome site, i love it best of luck and thank you for the post danny abalos
    Danny Johnson
    Replied over 7 years ago
    Your name rocks too! Sounds like you’ve got the right attitude. Maybe you didn’t make money on the first one but I’m sure you learned more doing it than you ever imagined. Thanks for the comment.
    DP
    Replied over 7 years ago
    Great post! For my stage in the game number 5 is one that resonated with me and is something I hope to see soon! Regards, IT corporate cube dweller
    Danny Johnson
    Replied over 7 years ago
    I’m sure the day you experience it you will be honking, flashing your lights, and yelling out the window. People are going to think you are crazy. We both know who the crazy ones are though… Good luck to you and I hope you get to act crazy soon.
    MikeG
    Replied over 7 years ago
    When you discover an original Picasso in the attic and sell it for Millions! Haha, I’m still waiting for this one… Reply Report comment
    MikeG
    Replied over 7 years ago
    When you discover an original Picasso in the attic and sell it for Millions! Haha, I’m still waiting for this one…
    Danny Johnson
    Replied over 7 years ago
    Me too! I don’t spend enough time at these places anymore looking for buried treasures. I’m sure one of these days my contractor will show up to the job in a Ferrari and I will know what happened. 🙂
    MikeG
    Replied over 7 years ago
    When you discover an original Picasso in the attic and sell it for Millions! Haha, I’m still waiting for this one… Reply Report comment
    MikeG
    Replied over 7 years ago
    When you discover an original Picasso in the attic and sell it for Millions! Haha, I’m still waiting for this one… Reply Report comment