Tips needed for completing a Live & Flip with kids

8 Replies

Hey Bigger Pockets Community!

My husband and I have completed 2 live and flips over the years and are about to embark on our 3rd this year.  The difference is that this time our family has grown to include 2 young kiddos.  Luckily, they are both super interested in "helping" and that is something my husband and I are definitely encouraging!  I am excited to make this a family project, however I realize there will be different challenges with this new dynamic. 

I have already thought about remodeling the kitchen during the summer so that I can utilize the grill and outdoor eating space. 

I would appreciate any other helpful tips, tricks, or hacks!  

Also, if you have successfully completed a live and flip as a family, I would love to connect.  Shoot me a message and I will be sure to reply.

Thanks in advance your all of your wisdom.  Bonus points for funny stories!

Originally posted by @Julie Berks :

Hey Bigger Pockets Community!

My husband and I have completed 2 live and flips over the years and are about to embark on our 3rd this year.  The difference is that this time our family has grown to include 2 young kiddos.  Luckily, they are both super interested in "helping" and that is something my husband and I are definitely encouraging!  I am excited to make this a family project, however I realize there will be different challenges with this new dynamic. 

I have already thought about remodeling the kitchen during the summer so that I can utilize the grill and outdoor eating space. 

I would appreciate any other helpful tips, tricks, or hacks!  

Also, if you have successfully completed a live and flip as a family, I would love to connect.  Shoot me a message and I will be sure to reply.

Thanks in advance your all of your wisdom.  Bonus points for funny stories!

Years ago, when the earth was cooling, my lovely wife and I had a 3 year old and a new born when we did our first live in flip. It was a 1909 craftsman with knob & tube wiring and the house had long been neglected. We got it for an outstanding price in a great neighborhood.

As a stay at home mom, my wife was thrilled to be able to make improvements while the youngun's took their naps. I'd work on it on the weekends and evenings. The 3 year old would help us by finger painting on the walls. When we finally finished the youngest was walking. Time flies.

As we went on to other houses both kids learned to wire and plumb, hammer and paint, pull comps, were taught about escrow, title, inspections, appraisals. I'd highly recommend it if Both husband and wife are on board. It would not have been possible if only one of us was willing to put up with the disruption, removal of bathtubs, sinks, electric upgrade and on and on (not all at once of course).

They are grown up now (older than you are I think) and the youngest invests in large Apartment buildings and the oldest is currently a stay at home mom herself. Both comment on how much they learned and how entertaining it was. It was family time together and we took some awesome trips each time we sold a house. They've been all across the country and to Hawaii, across Canada and to Moscow and Europe and England and Galapagos Islands.

It's been great for us, I love the part of finding off market very profitable deals that have ongoing cash flow and my wife is an interior designer by training so she enjoys the design and decorating part. In our case, we were meant for real estate. And yes, we will be introducing the grandkids to Home Depot, Lowes and ACE.

try to do one room at a time, even if it means you go slower.

Always leave time for yourself at the end of the day for a really good clean up.

Account Closed  Thank you for sharing your family's story; it sounds a lot like what we are trying to accomplish.  I love that you would all go on a family vacation after the sale of each house.  That is definitely a reward for all of the hard work.  

I am appreciative that my husband and I have he same real estate interests and goals; it makes life that much more fun!

@Max T.   Great advice, thank you. With our next property we are hoping to prioritize the main living areas first and then bedroom and bathrooms.  Would you agree with this strategy or should we focus on the bedrooms first so that the kids could get "settled" faster? 

@Julie Berks I dont have kids yet, but I feel you should always start with the bathroom.  you can live without a kitchen or living room for a while but, you need a toilet.  if the bathroom needs lots of work(plumping, toilet, shower) pay someone to get it done fast before you move in. flooring, vanity, painting, ceilings, trim can be done by yourself to save money.  everything else doesnt really matter what order you go in, but you should do it one room at a time to contain the dusk etc to one place. trying to do multiple rooms at a time will only get dust on everything and its impossible to clean all your items and be dust free.

@Daniel Hyman Never say never. ;)

Honestly, I think the main reason why real estate is so intriguing is the fact that it is so versatile.  There are so many "right fits" for people to discover for themselves.  It looks like you have found your niche with your business My Online @ccountant.  I would be interested to message you, to ask more about your services.