Would like to flip houses for capital

Question

Hello All,

I would like advice on my current trajectory.

I have a 10-year construction background starting in carpentry and ending in 4 years of being a residential superintendent.

I say ending because I was recently laid off from my job and now am out on my own running my remodel company focusing on value add remodels for investors, realtors, and home owners.

I have completed one full-gut remodel successfully and am currently helping someone with a 4-plex remodel all units.

I'm focusing on filling my books now until I have 2-3 months of work. I currently have less than a months worth of consistent work while waiting for materials and other subs on the 4-plex.

I have reached out to 2 Realtors who have expressed interest in my previous work and would recommend me in the future.

What input would you have for someone in my current situation who would like to flip houses for capital to eventually buy and hold long term rentals? I feel my skills put me in a unique position to learn and earn. I just want to make sure I'm headed in the right direction.

Thank you,

Brian

Brian Sisson · Answer

@Elealeh Fulmaran

Thank you for the reply. My target monthly cash flow would be $10,000 per month long term. The more I learn about having the most minimal scope for greatest return on flips, I feel I could manage 4 flips reasonably while filling in gaps with small jobs. Realistically probably more.

When you say light Value-add BRRRR's, do you mean market that to realtors as my focus?

Also, I have limited capital, but have a decent amount of equity in my personal residence I built 2 years ago.

Elealeh Fulmaran · Answer

Brian, solid background—10 years in construction and already knocking out full-guts and a 4-plex puts you ahead of most. Two quick moves: partner with those realtors on one investor flip now (offer your services at cost for a testimonial and repeat work), and target light value-add BRRRRs (under $20k rehab) so you control scope while building capital for your first hold.

What’s your target monthly cash flow from rentals long-term, and how many flips do you want to run this year to fund door one?