How to make money flipping houses without attending pricey real estate seminars
Have you binge watched HGTV’s house flipper shows and thought about becoming a house flipper yourself? Perhaps you’ve even signed up for a real estate investor seminar to learn how to make money flipping houses.
If you’re serious about learning how to invest in real estate, you need to educate yourself. Real estate investor seminars, however, are largely a “get-rich-quick” scam. Here’s how they work:
- You pay thousands for the first conference.
You pay a couple thousand dollars for a conference, where the presenter—a charismatic, smooth-talking businessman—talks in generalities for a couple hours about how to make money flipping houses while alluding to the line of DVDs, courses and material that will really change the way you think about real estate.
- You buy their line of DVDs and enroll in their “specialty courses.”
You can have these DVDs and get rich, too, for a hefty price. And so it continues. Once you sign up for the “advanced course,” they’ll try and get you to sign up for other, specialty courses.
- Thousands of dollars spent, and you don’t know how to flip a house.
And so on. You’re thousands in the hole and no closer to “getting rich” by flipping houses.
Now, flipping houses is an intricate business, and it’s smart to do your homework and learn real estate laws, building codes, permit information, etc., etc. But you can usually find all of this information either in the library or online. For free.
After you do some research, you’ll soon learn that the reality of house flipping is a little different than HGTV …
We’ve been buying and flipping houses for 30 years—way before “Fixer Upper” made it cool. We know the behind-the-scenes grunt work that never makes the final cut for the house flipping shows. Coordinating with contractors, ordering materials, obtaining permits, the high cost of renovations. It’s important to remember that these shows are edited for entertainment value, and often don’t show the whole process. Watching “Flip or Flop,” it can be easy to convince yourself that a whole house remodel can happen in a week. In reality, it’ll likely take four to six months and involve a lot more than installing new cabinets and painting a few walls.
If you want to get involved in real estate investing, but don’t want to deal with the unglamorous, behind-the-scenes work, there’s still a way to get involved. At Wren Realty, we welcome leads from real estate investors like yourself. If you find a home that is a good candidate for flipping, then give us a call! We’ll give you a finder’s fee for your part, whether you simply located a home for us, or have a home purchased and ready for us to commence the renovation.
Give us a call with your leads today!