Accountant · cedar rapids, IA · Member since 2013 · 99 posts · 46 votes
I work full time right now...and just wrapping up my first flip. The rehab will take approx 7 weeks...I did some of the work like painting, demo, landscaping, etc...and then had others do the more skilled work...like laying tile, cabinets, etc. Seems like if I was able to do 4 flips per year while still working that would be quite a bit.
Just wondering on average how many flips others complete while holding down a full time job. Thanks
Bedford, NH · Member since 2012 · 2k+ posts · 1k+ votes
12y
Strange as it may seem, part of the reason is that I enjoy it. I find the progress on rehabs emotionally satisfying. Back in the days when I was heating my first house with wood I cut on my own land, I felt the same way about the progress of my wood pile. It is a feeling that for me has never been replicated by watching dollars that could pay for that wood accumulate in a brokerage account. I'm a romantic, I guess.
Investor · Atlanta, GA · Member since 2013 · 922 posts · 336 votes
12y
It ultimately comes down to time management. 4 is great.
Depending on the area of the country you live in and the number of people you have involved you can do a flip a month if you hire the work away. (agent, rehabbers etc..)
If you are doing it your self i would say 3 to 6 would work. It also depends on the profit marging as well. Someone can do 3 flips a year and make more money than someone doing 6. I think its a matter of you setting your own goals and profit margins.
Bedford, NH · Member since 2012 · 2k+ posts · 1k+ votes
12y
Technically I cannot answer because I do not flip. But what I do is rehab and hold, which I figure is close enough for the purposes of this discussion.
I did two within one calendar year, and I have to tell you, that was tough.
Partly it was tough because I had no GC, and used individual subs. Partly because I don't just work full-time, but have a very demanding (way more than 40 hours per week) job that requires fairly frequent travel.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
12y
Why not make slightly less and simply hire a GC or project manager? Then you can do several without interfering with the 9-5. I realize we all want to squeeze every dime out we can, but looking at it from a business and systems view, this would the the better choice.
Doing it on your own, I would say 2-4 with variances dependent on you and your market.
Bedford, NH · Member since 2012 · 2k+ posts · 1k+ votes
12y
Strange as it may seem, part of the reason is that I enjoy it. I find the progress on rehabs emotionally satisfying. Back in the days when I was heating my first house with wood I cut on my own land, I felt the same way about the progress of my wood pile. It is a feeling that for me has never been replicated by watching dollars that could pay for that wood accumulate in a brokerage account. I'm a romantic, I guess.
Rental Property Investor · Douglas County, MO · Member since 2014 · 1k+ posts · 1k+ votes
12y
Yes, @Richard C. doing the work yourself is VERY satisfying! We do the same with our rehabs. We are starting on our 3rd this year. We do painting, electrical, plumbing, cabinet install, tiling, laminate install, landscaping . . .
Yes, @Richard C. doing the work yourself is VERY satisfying! We do the same with our rehabs. We are starting on our 3rd this year. We do painting, electrical, plumbing, cabinet install, tiling, laminate install, landscaping . . .
I'm not that involved, by a long shot. I'm basically the GC and project manager. But yes, it is satisfying.