Not Just Flipping Houses For The Money

14

Though the money is pretty nice.

But, it’s not just for the money that I do flip houses. There are a lot of reasons and I think the people that succeed at this business are the ones that go into it with more of a reason than to just “make a huge pile of money”. There just has to be a greater pull to succeed to get you through the difficult times and the constant feeling of getting out of your comfort zone.

How to Estimate Rehab Costs!

Estimating rehab costs accurately can make or break your real estate business, and it takes years of experience for even the best rehabbers to master the art. However, you can expose yourself to less risk and get more accurate with your projections by learning how the pros think when estimating construction costs.

Click Here For Your Free eBook

Freedom and Time Better Spent

Driving back from looking at a house this morning with my wife, I got to thinking about how blessed I am. We haven’t had much time lately to be able to go and look at houses together because of our busy schedules (life can get crazy with little ones at home and teenagers with a lot of activities outside of school). It really is nice to be able to go and meet a seller and to talk with them and see what my wife thinks of a house. If you’re considering flipping houses or already doing so, I really hope that your significant other is on board with you. It definitely makes it much easier and more enjoyable.

This is one of the reasons why I enjoy this business so much. The freedom to take the morning and spend it with my wife and kids (the little ones) and still be doing something that can generate a good income. I’m not sitting in an office wishing I could see my wife and kids. I get to all the time. We do get used to it though, and sometimes we have to stop and think about how truly blessed we are.

This morning was one of those times. It was a beautiful morning and the air was nice and cool. Driving back home, we took the more scenic back roads with the windows down. These times with the people we really love is what our days should be filled with.

Heck, while I’m writing this, my daughter has about 10 different little toys balancing on my head. I think there is also something clamped to my ear.

I’m sorry if this is not a hot new “how-to” type article that will show you how to “crush it” in your market, but I feel this is more important. Without the correct motivation, the hottest tip in the world is worthless. Absolutely worthless.

Doing Something For You

Not doing something because it’s what other people want. That’s what this is all about. Doing something because you want to do it. Not because your parents felt you should, or your wife, or your husband, or because of your kids, or because of the Jones down the street, but because it’s what you want to do.

I was reminded of this just a few days ago again. My wife had mentioned that we should relax and watch one of the movies we own that we haven’t watched in a while. We went back and forth. I wanted to watch “Saving Private Ryan”, “Enemy At The Gates”, or “Patton”. Obviously, that wasn’t likely to happen. “What’s with all of the war movies?”, was the only response.

We (she) decided on “The Notebook”. Ok, I’ve seen it before and I wanted to see it again. Now that is one of the most moving movies of all time. You really would have to be Satan to not be moved by it.

The reason I bring all of this up is because of one of the main themes of the movie. Noah, one of the main characters was talking to Allie about what she liked to do. She started mentioning what she did and all of the things were things her parents thought she should do. Noah wanted to know what she did for herself because she wanted to.

That really seems basic but is absolutely profound. So many people are doing so many things because other people want them to and they don’t even realize that they have a choice.

I’m a firm believer that once you realize that you do have a choice and that you can and should do what YOU want to do, your life can change dramatically for the better. So many people talk about feeling selfish and using that as a reason to not do certain things. I say, if it makes your life better, makes you happier, you will undoubtedly make those you know happier. It’s the right way to live. Being miserable doing things you don’t really want to do is not something we all grow up anticipating, but it’s what happens to most of us.

Where To Go From Here?

Just because it’s one way today, doesn’t mean it has to be that way tomorrow. As Jim Rohn said, “you can’t change your destination overnight, but you can change your direction overnight.”

Be honest with yourself. Do you need to change your direction? Is it time to really make a go at flipping houses? Is it time to finally time take action and take those first baby steps that are necessary?

If you would like to share the reasons why you want to or do flip houses, please don’t hesitate to do so in the comments below. I’d love to hear from you. It can be very motivating, so please share.

Photo: Photon De

About Author

Danny Johnson (G+) is a real estate investor in San Antonio, TX. Visit his blog: Flipping Junkie - A House Flipping Blog to follow along with him as he shows, in detail, the marketing he is doing, the leads being generated, the lead and deal analysis, the rehabs and really, just about everything. He also provides real estate investor websites at LeadPropeller.com.

14 Comments

  1. Chris Clothier

    Danny –

    Thanks for writing a great article! I am not sure I have ever really “worked” a day in my life. Everyone around me comments on how hard my family works and how dedicated we are…but, the truth is that when the adage about loving what you do and never having to work is true. I love what I do everyday. When you are really good at it and the decisions you make lead to income…well, the money follows. But doing what you love to do, which is not always what other thinks it is, matters the most. I love interacting with people, that is what I do all day even though I am in the real estate business. My day is spent doing what I love to do most and real estate happens to be the business that gets me there each day.

    Really good article – Chris

    • Thanks, Chris. I appreciate that.

      I completely understand what you mean by not feeling like we are actually ‘working’. My wife used to question why I was working so late and I would pause and think about how weird the statement was because I didn’t see it as work. Is weird to prefer what we do over watching television?

  2. One of the reasons I love flipping is the excitement. You never know what is going to happen and every deal is different. I think of it as mining for gold. The people that want to get in and make a million bucks their first year usually crash and burn. But if you get good at flipping it provides a good steady return and once in a while you get a killer deal (motherload). We had a deal where we made over 100k on a 215k purchase earlier this year. Those are very few and far between but it sure is exciting when you make the purchase and close the deal.

    As far as doing what you want and not what society or your family wants, great point. So many people are stuck in jobs saving pennies for retirement because that is what they are told to do. They have no control over their life or finances. I keep seeing blogs on how to live as frugally as possible to get just a little bit ahead and then you may be able to retire in 35 years. Its crazy! I want the nice things in life and I won’t let society tell me I am selfish.

  3. Michael Woodward on

    Great advice! It’s good to be reminded to stop and think about what you’re doing and why you’re doing it. It’s easy to blindly move in any direction that life’s wind blows you. Thanks for the reminder to keep the goal in sight.

  4. The “fix and flip” isn’t my preferred angle on REI. I’ve learned a lot in the past year that has shown me with my skill set, background in business management, that there are other ways to approach the same problem. But the underlying idea is still the same, I’m doing something I find exciting, my energy is up. People around me have noticed, slowly deals and other aspects of the business seem to be “clicking” into place now. Those major point of this is that when I started about 2 years ago, I had the bug but it seemed like such a struggle and so much work. A couple times I, and everyone around me, ask “are you crazy, why are you doing this?” But I’m stubborn and I saw the potential for a better life. Now everyone says I’m always busy, but it doesn’t feel like work so much, I have systems in place to help take off the burden of the mundane and I focus more on the aspects I like to do. The benefit is people say I’m so positive anymore they just like being around me, I’ve lost weight, my family life is much better, and I love what I’m doing. How can this be a bad thing? The hardest part I see now is the growing pains. Great article Danny! Because in the end, you can’t take the money with you and no one ever said on their death bed “gosh, wished I’d worked more during my life.”

  5. This article really resonated with me. I got into the real estate investment game in 2000 and always have my eye out. Flipping a home feeds my creative side – it’s cool to see a vision/renovation project come to life.

    • Hey Joe.

      That is something I’m hearing more and more and makes a lot of sense. This business allows us to be creative because we are the ones calling the shots.

      You know, rehabbing got to be boring when we decided to start making all the rehabs look the same (same colors, materials, etc.). We since gone back to trying to make each house somewhat unique and it has become more interesting again.

  6. Hi Dan

    Thank you for posting this great article. As I am starting out, this is what I see for my family in the future (to be spending more time with them) . The Primary reasons you posted is parallel as to why I want to do this. Again Thank you.

    “We only grow outside our comfort zone…Feel the fear and do it anyway.”
    -Taken from you and Sharon on your 12/05/12 post.

    • Hello, Carlo.

      If your ‘why’ is big enough, you will push through and make it in this business. All of the things that come up that tempt you to quit will not be an issue if you can remember why you are doing it.

      Thanks for the comment. Keep in touch.

Leave A Reply

Pair a profile with your post!

Create a Free Account

Or,


Log In Here

css.php