Start a House Flipping business
I just happened to stumbled to you r website / blog and i found it very interesting and informatively.
I’m wondering if you can advice me on this decision that i’m trying to make between starting a House flipping business and a Trucking logistics. I have been working as an Information Technology for over 10 years, and i’m just tired and looking for something more fulfilling and rewarding financially at the same time.
I don’t have any experience in either of the two business (Flipping and Trucking) but i’m looking very serious to start one of the two. I have a letter of intent from FedEx to buy a truck with a Driver that will be driving it for me. I also i’m thinking if its more safe to start flipping a house, because i currently have a rental property that i have own since 2005 with three tenants.
Thank you for reading my message, and i hope i’m not bore you with my long story. Lol
But any advise will be greatly appreciated. Because it seems you have experience in house flipping.
Thanks for posting your question. It wasn’t boring at all lol. I don’t know much about trucking, but I do know about flipping houses. That’s great that you have a rental property with 3 tenants. I would recommend creating a business plan and setting a budget to start with. You want to also work with a hard money lender to purchase and renovate the homes unless you plan on using all cash. Start with one house flip and see how it goes. Make sure you research the neighborhood, the average days on market and what new and distressed properties sell for. I recommend working with a realtor who is also an investor or who has experience with investment properties. I included an article on hard money loans and an article on how to start a house flipping business. I hope they help and wish you the best of luck. Let me know how it goes.