So What Do You Know About House Flipping Anyway?

 

THE BIG QUESTION
“What did we know?” was a question we had to sheepishly answer when we first got started. And the short answer turned out to be “not much!” When my brother and I got started in the crazy world of flipping houses, we had little more than a TV education. We collectively had years of experience in rehab, repairs and building, but nothing on the scale of our first flip. Before this, we had done personal DIY projects and humanitarian endeavors – things which posed no significant risk or pressure. House flipping is much different.

OUR FIRST GOAL
If you don’t make a profit, and one which substantially eclipses working any “regular” job, then what was the point? There are definitely easier ways to earn money. Simply put, we were aiming for a real profit, but had no guarantees that our efforts would ultimately succeed. And while our timeline began to grow and grow dramatically on our initial project for our new business, we came up with a rationalization. We calmed our nerves by telling ourselves that if worse came to worse, this first flip could be our “university education”. We know first hand that students (and/or their parents) pay huge sums of money getting a university degree. So if this first flip didn’t pay off as hoped for, then we’d chalk it up to experience and count it as our university education in house flipping.

THE FINAL RESULT OF PROJECT #1
In the end, our crazy flip did turn a real profit and continues to generate revenue today (but more on that later). We also learned a lot. First and foremost, you’ll be able to see how much we didn’t know and needed to learn in order to succeed.
In the following posts we hope to lay out the in-depth details of that journey. It’s all about what we learned. Learning is essential in life and an absolute requirement for house flipping. Our unique approach to house flipping is our emphasis on DIY. Because of our DIY approach, we could not help but learn…and learn a ton we did!

WHAT ABOUT YOU?
So if DIY projects, rehabs or flips are in your present or future, or whether you are just curious or have experiences to pass on to us all, welcome! You are invited to look over our shoulder and follow the details of our experiences. Maybe you can learn from what we did right or just laugh at our mistakes. Either way, we hope you find the following helpful or amusing. So…

…welcome to our DIY journey in house flipping!

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