I am interested in a live-in flip, but can I do this?

3 Replies

Hi everyone, I'm interested in a live-in flip, but I hear about many concerns of it being extremely dusty and probably very uncomfortable to live in during renovations. My question is: is there anything against bringing an air mattress and suitcase to lodge at the property about 4 days a week and live at my parent's place for the other 3 days while my house is being rehabbed? My issue is bringing too many belongings and creating a huge problem for myself in terms of dust being everywhere. Btw, I plan to get a FHA203 loan for this project.

Jesse;

I've been through this and congrats for being willing to do the hard stuff that not many people do......however I think you're overthinking it.

In going down this road you will not be able to anticipate every challenge.  I'm not proud of it but I've peed in plenty of Gatorade bottles.  Taken quite a few cold showers, etc.

I wouldn't trade it for anything - and have been grateful that the wife at times has been both supportive but willing to make sacrifices of her own.

Regarding dust - depends on your remodel.  Have you selected your house?

The most dirty and frankly UNLIVABLE conditions happen during the following:

  1. Demo (especially ripping out lath/plaster or major sections of walls/insulation etc)
  2. Major Drywall Finishing Work
  3. Painting leaves a lot of fumes
  4. If you finish hardwood floors which I recommend although will depend on your local market in terms of preferences, you will have to clear out while the polyurethane dries, etc....

Here's a few suggestions

  1. Do NOT buy an air mattress, opt to spend a little more for one of those mattress toppers, the foam type.  They're actually more comfy, and we had 3 air mattresses pop right in a row!  So it's a better investment.
  2. Think about phasing the sections of a house that you're doing.  Honestly you will have to do this naturally depending on the scale of your project.
  3. Be safe.  Keep the site clean best you can.

One more thought.

Stuff just weighs you down.

Right early on, get used to only owning what you absolutely NEED.

You don't need a TV

You don't need a lot of furniture

You don't need etc etc etc

Every one of those things needs to be moved, thrown away, etc.

Hey Jesse,

That's exactly what I did. I did it because my budget was super tight and couldn't afford to pay construction workers. I did the work myself.

In regards to dust, every property is different, there are some I would definitely not take the chance  (too much dust or mold).

First thing is to air out the property, buy a industrial fan an open all the windows and doors and let it vent. second clean the place, and let it the property vent a couple of times. If there's an A/C unit turn it on after you have tried to clean/vent all the dust out.

I borrowed my mom's air mattress, and slept with no a/c for the  first months (I had a leak in the freon line and the ac tech couldnt find it.) Most people won't do this but if you're really motivate and you have a big WHY, you would.

The property is an 1hr and 30min from my parents house so I visit them on the weekend, and to get a better sleep.

I didnt bring much stuff only the essential: air matress, a plastic drawer with clothes, my laptop, and I bought a mini fridge from OfferUp. If you bring other stuff is a pain when you have to move things around... painting and laying floors.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here