Are you design-oriented? Love DIY construction projects? If so, have you ever considered flipping houses for a living?
It’s not always the easiest path, but it’s absolutely rewarding and might just be the right next step for you! And whether you’re looking to create an HGTV-level build-out or just want to quick-flip homes in your area, we’re here to help.
Keep reading below to check out some of the pros and cons of flipping a house and making a living along the way!
Pro #1: You Can Get Paid for Your Passion
The first “pro” to flipping houses for a living and debatably the biggest benefit is that you are making a profit off doing what you love.
For many, interior design is an obsession. Is that you? Are you constantly rifling through magazines like Magnolia Journal, Dwell, and Architectural Digest? Consider lifting your inspiration off the page and bringing it into the lived space. Make your passion a reality!
Whether you love construction and woodworking or the art of furnishing and beyond, flipping houses gives you the chance to get creative and enjoy the daily grind.
Con #1: You Have to Make Large Upfront Financial Investments
Pursuing your passion is exciting, but it’s also costly. To flip a home, you have to buy a home as well as learn how to sell a home. And while you might be able to find foreclosed houses well under one-hundred thousand dollars, you’re still going to need to fork out a bit of upfront cash to begin your home renovation.
And beyond basic home purchasing costs, you also have to factor in the cost of executing an actual remodel, from new flooring and roofing to updated kitchen, baths, and bed. Flipping houses isn’t a cheap side-hustle.
But it can be worth it.
Pro #2: You Can Make Large Profits
Sure, buying a home and getting it ready for resale requires a lot of upfront investment. But once everything is just right and it’s time to sell, the payoff can be big.
In 2019, the average gross profit for flipping houses was sixty-three thousand dollars! And, of course, the more you flip, the faster you’ll get. This means if you were to flip just two houses in a twelve-month period, you’d be making six figures on average per year.
Con #2: You Have to Invest a Lot of Time
Most nine-to-five jobs require a bit of after-hours work. But, on the whole, the typical day job follows a routine scheduled. Flipping houses, though, can be far more involved.
From inconvenient water main breaks and inclement weather to tight deadlines and DIY emergencies, flipping houses simply doesn’t allow for “clocking out.” Sometimes, late nights turn into early mornings. And just because it’s the weekend doesn’t mean the job’s on hold.
Flipping houses for a living can be demanding. But for those motivated to jump in headfirst and tackle the learning curve, we promise things will get easier.
Flipping Houses for a Living
There a lot of pros and cons to the house-flip hustle, but, for most, the pros far outweigh the cons.
Yes, flipping houses for a living requires a large upfront investment of both time and money. But, when it’s all done correctly, the ends truly do justify the means. And with a bit of work, your passion just might become your paycheck.
To learn more, be sure to visit our site daily and explore all things house flipping, real estate, and beyond!
