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Old 02-17-2010, 10:26 AM  
TrueSouthernPeach
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Default I want to be a House Flipper.

Hello,

I'm a 21 year old female who would love to do house flipping. No, I am not interested because of shows I see on TV (Though I do like to watch them once in a while) I am interested because I love to work with my hands. I love the thought of doing something meaningful and my heart breaks when I see what was once a beautiful old house in shambles. I wouldn't want this to be a hobby, I would want it to be what I do... I'm ready to get the ball rolling in any way possible, but I have a few teeny, tiny little problems:

Though my father and his father have extensive knowledge on home improvement, and major renovations... My grandfather has passed on and my father is a very busy person. I need to learn everything about house flipping. From how to even do the work, to how to buy, sell, and everything in between... I know there are books out there, and classes at some places, but I would like to get more 'hands on' experience, I am just not sure how.

I don't have much money. I'm a cashier, and I am currently saving as much money as I can so my fiance' and I can move into an apartment closer to where he goes to school. My plan is to get a better job and try my best to save up as much money as I can while renting. I am not sure if this is the best idea, though. I have even thought about just living at my parents house a while longer (they wouldn't mind at all) and saving up enough money so I can skip renting and get right into a house to renovate... But I am not sure if that is doable.

I have been really interested in fixing up old houses for a long time now, but I could never think of a way to really get into it. The reason I don't go to college is because my passions are old-fashioned simple things like baking, gardening, and just doing things with my hands. I like the idea of doing honest work as opposed to sitting in front of a computer for a living, or being a cashier! I also work my best when I'm alone, I prefer it actually. I would also NOT be doing this just for the money. For me, I absolutely love old houses and love the thought of making them beautiful. I know it would be a lot of stress/work, but I am prepared to deal with it in any way I can to accomplish my dream.

Basically what I'm asking is: How do I get started? How can I learn/teach myself all of the complicated skills of house flipping? What is the best way to do it financially? What can I do to prepare myself mentally and even physically while I save money? Please don't discourage me because I'm a girl. My family and fiance' have already told me that this is not something I should get into. However, I am deeply, and truly interested in this kind of work.

Thank you for taking the time to read this!

-R



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Old 02-17-2010, 12:17 PM  
crackur
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I haven't flipped any houses but I can tell you by just remodeling my own, you will need to read alot.

And then read some more



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Old 02-17-2010, 12:36 PM  
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it can be a very trying business. My Father in Law did several houses several years ago, just to make few extra bucks and he ended up barely braking even.

first off....you'll probably want to get your real state license. This will teach you all the fees, cost, and other licenses you'll need. It will also give you access to the best deals on the market, since your objective is to buy really low.

secondly...I would either a) have a licensed contractor ready to do the work (such as your dad) or study to get your contractors license as well. there are several agency that can help you do this in a manner of weeks. (such as american contractors exam services)

if its something you really want to do, take the time and study the housing market along with remodeling. I can tell you from my experience if you arent very meticulous, its not the job for you. It will also stress you out at times meeting deadlines, getting bids from contractors, getting contractors to do the work right, and selling the house to where you're making a good profit.

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Old 02-17-2010, 12:39 PM  
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P.S ...If its something you really, really want to do. Dont let anyone discourage you, but simply get all of your ducks (real estate license, contractors license, business license) in a row. Show them you are serious by taking the time to do it right.

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Old 02-17-2010, 12:49 PM  
TrueSouthernPeach
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Thank you both for the replies!

Crackur - I would love to learn as much as possible. What are the best books you would recommend?

Doorguy4ya - I have been warned that this can be a risky business, which is why I want to know as much as I can before I jump right in. As for getting a real estate license, I actually thought about that a lot when I was in my early teens and that would be a great idea.

I think getting a contractors license would be a great idea as well. My father is getting older and I don't think he would want to do the back-breaking work like he used to. However I would like to still learn from him or even just have him around so I don't make a huge mistake!

I have been reading and it seems like you can also specialize in restoring historical properties (Which I am most interested in) Can you get a contractors license in a certain area? Or would it be a separate kind of deal?

I would like to do as much of the hard work myself as possible to cut down on costs, and because I am perfectionist at everything I do, I know I would be very meticulous not just with the work, but with studying the housing market.

One more thing... Not sure if this is a rumor, but I have heard that the Government will sell foreclosed houses for a dollar if they aren't sold within 6 months. Is this for real? I haven't been able to find out too much about it online.

Thanks again!

-R

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Old 02-17-2010, 12:51 PM  
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Doorguy4ya - Thanks! I really appreciate the support. I really want to do this right. I just don't know where to start. Thank you for helping me!

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Old 02-17-2010, 12:51 PM  
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(my other longer reply hasn't shown up yet, BTW!)

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Old 02-17-2010, 03:05 PM  
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True, I can understand how you feel seeing older houses wasting away. I really appreciate seeing people fix up and revitalize older, aging neighborhoods. If you want to pursue this, go to work for a contractor who does remodel work and see what all is involved before you loose a lot of time and a lot of money.

Just my

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Old 02-17-2010, 03:20 PM  
TrueSouthernPeach
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Hi Oldog... Thank you for your reply.

I also live in the Nashville area. I was first inspired to do this when I went to Bell Buckle and I was so amazed at the houses down there. I began photographing every old house I came across in Bell Buckle, Murfreesboro, Old Hickory Village, and other places in Middle TN. It was then I started thinking of ways I could get involved with that kind of thing. Infact, I even went into an abandoned old house, took pictures, and pretty much just dreamed about fixing the old place up. I even went so far as to see who owned it, and it turns out another house flipper purchased it (for much, much more than I thought it would have been) and is in the process of restoring it. I wish I could have spoken with him more!

-R

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Old 02-21-2010, 07:24 AM  
TrueSouthernPeach
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Some people have told me I could volunteer for Habitat for Humanity or Rebuilding Together. I thought that was a great idea. Have any of you ever volunteered for either of these? Are they willing to train you and teach you, or would the unexperienced be hauling supplies, and that sort of thing?

In a few weeks I'm going to start taking those painting/tiling/etc classes at the Home Depot. I figure it's a good start and I'll take notes. ... In the meantime, I'm still searching around for what the best type of schooling would be!

-R



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