Delinda Harrelson

The Flipping Coach

10 Reasons Why House Flipping can be a Good Business

“A true benefit associated with house flipping as a business is that it provides an opportunity for self enrichment.”

House flipping is defined as the process of buying a home, doing some rehab or renovations to it, and then selling it within a fairly short period of time. You may have given thought to undertaking house flipping yourself.

There are 10 reasons why house flipping may be a good business option for you

1. Work from Home

An important benefit of house flipping is the fact that you can work from your own home. You simply do not need an office in order to pursue house flipping.

There are a number of reasons why working from home can be beneficial. One of these is working from home can be convenient, allowing you to deal with family matters more easily and more readily.

2. Low Overhead

While you do need the financial resources necessary to purchase and restore a property, otherwise this business does not necessitate the expenditure of much money in the way of overhead. You have very few other overhead expenditures that you encounter when it comes to starting and running a house flipping endeavor.

3. Your Own Boss

Many people dream of finding a way to earn a living through which they can be their own boss. Another of the key benefits associated with flipping houses is that you truly are your own boss.

When it comes to a house flipping business, you really never do have anyone to whom you need to answer. You do need to work with an array of different types of professionals; however, there just isn’t anyone you will encounter in the process of pursuing house flipping who would end up in a managerial position over you.

4. Reasonable Start-Up Costs

When looking at self-employment and small business options more broadly, flipping houses is a solid option when it comes to the matter of start-up costs. Generally speaking, and when contrasted with other potential new venture opportunities the start-up costs associated with flipping houses are quite reasonable.

The only real start-up costs that you face when embarking on a house flipping enterprise is access to the financing necessary to make your first home purchase. There really is very little else that is needed to launch this type of venture.

5. No Equipment Investment

Many new ventures require that a significant investment be made in expensive equipment. Such is not the case for a flipping venture, generally speaking. You literally need no equipment whatsoever to make your first property purchase.

If you are going to undertake rehabbing a home for sale once you purchase it, equipment and tools can become an issue at that juncture. With that said, if you intend to undertake remodeling efforts on your own, odds are that this is a type of work that you’ve done in the past. Thus, if you will be doing your own remodeling work in your flipping business, you probably already own necessary equipment and tools or have relatively ready access to these necessary items.

6. No Inventory

Another way in which a house flipping business can be a solid course for you rests in fact that unlike some businesses you do not need to maintain any type of inventory. One of the most costly and challenging aspects of some types of business is making certain that you always have appropriate inventory. A considerable amount of money and time can end up tied up in dealing with inventory issues in other types of businesses.

This simply is never the case when it comes to house flipping. When in the house flipping business, you purchase what you require to undertake a rehab of a property in anticipation for sale directly when you require these items.

7. No Degree Required

House flipping is a professional endeavor that doesn’t require any particular type of educational background. While having some experience in rehabbing a home can be helpful, a person most definitely does not need to spend the time and money to sit for some sort of degree or certification to undertake a business as a home flipper.

8. Benefits a Neighborhood

Another reason why house flipping can be a good business extends beyond a person who embarks on that type of business. House flipping can prove beneficial to a particular neighborhood. House flipping nearly always involves rehabilitation done to a property. This process can positively impact the overall look and feel of a neighborhood.

9. Increases Neighborhood Market Values

The rehab process typically associated with the house flipping process can also contribute to raising the value of surrounding properties. When houses in a neighborhood are rehabbed and improved, that process oftentimes increases the value of other properties in the neighborhood. When a flipped house sells for a dollar amount higher than what would exist absent the presale rehab, that also contributes to a potential increase in market value of surrounding comparable properties.

10. Self Enrichment

Finally, a true benefit associated with house flipping as a business is that it provides an opportunity for self enrichment. You can feel a sense of accomplishment every time you buy, rehab, and flip a house. Indeed, many people who flip houses maintain that the find the entire process highly gratifying.

If you are interested in house flipping, a first step you may want to consider is visiting with other people who’ve pursued this type of business themselves. You can lean a great deal about the pros and cons associated with house flipping in this day and age. You can also garner keen insights about what you need to do to lay the foundation for a successful house flipping business.

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Delinda’s Coaching Programs or Mastermind Groups

This is a year long program designed for people that love to be a part of a community. Our close-knit group contains people of all investing levels that want to continue to grow their wealth, along with my team of Investing Experts that have experience in whatever area you are needing.

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