I’ve been a real estate investor for over ten years now and I’ve advised a lot of people on how to get started in the field. But I never expected to be in a situation where the student became the teacher.
My favorite college professor, Mr. Sawyer, connected with me on social media recently. When I was studying for my MBA at the City University of New York, he was that special teacher who changed my life. But, he’d left teaching to work at a major corporation. While I was impressed, Mr. Sawyer told me that the job wasn’t all it was cracked up to be and that he felt really frustrated and unfulfilled in his new role.
So, I told him about my career as a professional real estate investor and how rewarding it is to be your own boss. I take pride in my work and loved exercising creative control. There’s a thrill to selling a house you’ve renovated. He perked up quite a bit and seemed hopeful, quietly asking how he, too, could he get into flipping houses full-time.
How to Get Started Flipping Houses Full-Time
Mr. Sawyer seemed excited imagining himself as an entrepreneur but he was all about whether flipping houses is a good business to get into. Flipping houses full-time sounded to Mr. Sawyer like it required a lot of initial legwork. And, it does. So I told him about the steps I took to start house flipping and how I got my career off the ground. In a nutshell, here they are.
Get Quality Training
There are all kinds of real estate investor training and education resources out there, but the trick is to find the one that will actually provide solid footing in the business. Some of the best books on real estate investing or online webinars can give you a pretty good introduction but won’t cover everything you need to know. And, nothing beats learning from someone who has been there and done that. You need a mentor for that.
Find a Dedicated Mentor
If you’re new to the business, don’t go at it alone. There are risks to residential property investment you may be unaware of and you need every advantage you can get in order to be successful. Find an experienced real estate investing mentor near you who’s had success. It should be someone who is reputable and has helped other people like you develop their business. Most of all, it should be someone who genuinely wants to see you succeed.
That’s why a lot of new investors start out by attending local real estate investing clubs. It can be a good way to get to know your local market and the people involved in it. But, unfortunately, most of the investors you meet there will be either just starting out, like you, or so busy building their own businesses that they won’t have time to help you focus on yours.
Make a Solid Plan
When you’ve decided to be an entrepreneur, you’re going to need a real estate investment business plan. This will give you a focal point for all you do, from long-term strategizing to day-to-day decision making. What kinds of properties do you hope to purchase? How will you find them and then fund the deals? Can you be sure there’s enough upside flipping a house that you sustain a good business? These are all questions that you need to think about critically.
You can imagine that when I told Mr. Sawyer about the steps I took to start flipping houses full-time, he was even more hesitant about striking out on his own. It might sound overwhelming, but it doesn’t have to be. I was able to take care of all the initial footwork for building my real estate investment business with one easy phone call—to HomeVestors®.
Flipping Houses Full-Time With All the Right Tools and Training
The minute I became an independently owned and operated HomeVestors® franchisee, I gained access to some of the best real estate investing tools and resources available. From the initial week-long training to the ongoing mentorship from my dedicated Development Agent, I’m never left without answers to questions that could make or break my business. And, as a franchisee, I didn’t have to reinvent the wheel with a business plan. It’s a business-in-a-box, if you will. With the nationally-known “We Buy Ugly Houses®” marketing behind me, getting leads on distressed houses is never a problem. And, believe it or not, hard money lenders actually compete to fund the deals that come my way.
That’s all the professor who changed my life needed to hear before he signed on with HomeVestors, too. He’s loving his new career. In fact, Mr. Sawyer even said I can call him “Bob.”
If you’re looking to get into flipping houses as a full-time business, make sure you call HomeVestors today to learn how you can get started in a professional real estate investing career.
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