I totally get it.
One of the principles that I love in the best-selling book, Atomic Habits, is the idea of breaking down big goals into very small next steps that don’t seem so intimidating.
Why not do that with flipping houses?
Instead of thinking about building a house flipping business in 2024, what about trying to flip just one house?
Surely you could do just one if you had the entire year to figure it out, right?
And what’s really cool about flipping houses is just one flip can make you life-changing money.
Once you flip one house, maybe you’ll want to try a second, then a third, and before you know it, you’ve built a business flipping houses with employees that run it for you.
But it all starts with your first one.
And for your first flip, I wouldn’t even recommend an HGTV-style full fix & flip. Too much work & too big of a learning curve.
What about a simple cosmetic flip?
Or even an as-is quick flip?
And what if you had the whole year to just do one?
We have so many resources at TentmakingPastors.com to help you do just that.
Flipping houses has been such a blessing to our family and I’d love to see many of you experience a similar blessing in 2024 — even if it’s just one house.
Ok, maybe you’re convinced & you want to know next steps.
Here’s what I would do:
- Look for houses needing work in your neighborhood (maybe make a goal to find 1-2 per week — that’s 50-100 over the course of the year)
- Get to know the owners and let them know you’d be interested in buying another house in the area if they were ever interested in selling
- Consistently follow-up with the owners who seem interested
- When someone expresses interest, make them an offer
- Not every offer leads to a signed contract, but keep making offers until you get one locked up
- Decide if you want to do a quick flip or a cosmetic flip (avoid a major flip on your first one)
- If you quick flip, you won’t need money at closing, but if you’re going to do a cosmetic flip, partner with a family member or friend to purchase the property
- Do the necessary cosmetic updates to improve the condition (unless quick flipping)
- List the home for sale
- Close and make a profit
That’s it. I’ve written more extensively about many of these steps in past newsletters, but this gives you an idea of the general process.
What if you did just one flip in 2024 and made an extra $10k, $25k, $50k or more?
That’s great extra income to support your ministry!
