I’d like to go through each of them & talk about ways to overcome them.
Barrier #1: Mindset
Many people in ministry think that since flipping houses isn’t in their primary skillset, there’s no way they could do it. They hear about it, like the idea, but immediately talk themselves out of it because their mindset is that it’s not possible for them. The good news is that mindsets can be changed. If you take a look at all of the Student Success Stories in past newsletters, you’ll see that people in ministry, with no real estate background, have successfully flipped houses.
Barrier #2: Education
This is connected to the first barrier but someone may assume the education required to learn house flipping would be difficult or beyond their grasp. The truth is, while there is certainly an education component in the beginning, it’s not as extensive or as difficult as you might think. Many people have successfully flipped their first house within weeks or a few months of first learning.
Barrier #3: Time
This is a big one. Many think that flipping houses would require a ton of extra time & they just don’t have it right now. Anything you pursue is going to require some time, but flipping houses is likely not as time-consuming as you’re imagining. And the time commitment can decrease over time as you “hack” the process & begin to have other people help you run the business.
Barrier #4: Money
Many think that flipping houses requires a ton of money. After all, you have to come up with the money to buy the house, right? Wrong. Not in every case. I know people who have started flipping houses with very little extra money.
Barrier #5: Strategy
When people think of flipping houses, they think of HGTV. That’s one way to flip a house, and certainly the most time-consuming and money-depleting, but it’s not the only way. There are much simpler ways to flip houses. Assuming there is only one strategy to flip a house is inaccurate.
Barrier #6: Discomfort
Some might object that flipping houses isn’t for them because of the discomfort involved in some part of the process. Maybe it’s talking to sellers, or sending out marketing, or building a buyer’s list. The truth is, most of what you imagine being uncomfortable ends up actually being no big deal. Like in most things. And, ultimately, you can hire people long-term to take over the parts you don’t like as much.
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The list could go on, but I wanted to address some common barriers that keep people from getting started flipping houses.
If you’re looking for an extra income stream to supplement or replace your ministry income, I’ve seen this stream bless a lot of ministry families. Might be worth reconsidering some of these barriers and looking into it a bit more. Let me know if I can help.
