Your odds of successfully making a profit from house flipping are far worse than flipping a coin.
The vast majority of people reading this would be better off taking the money they’re thinking about investing in real estate and going to Vegas and betting it all on black for one spin at roulette.
Sound scary? Good. Anyone considering flipping houses should be terrified.
The good news? People just like YOU are making hundreds of thousands of dollars every year from flipping homes, using nothing more than common sense! Are you ready to join them?
Can You Beat the House Flipping Odds?
Successfully flipping a house involves an enormous amount of work. It’s risky. Most short-term real estate investments are failures.
That’s the doom and gloom. The silver lining is that for every 9 failures in the world of flipping, there’s a successful, profitable flipper.
House flipping as a business is no different than starting any other business; roughly 90% of all small businesses fail, with just 10% surviving and thriving.
With the housing market stabilized and growing again in some areas, house flipping is back in vogue.
Big paydays await flippers who have the skills, patience, and bravery to wade into the REI waters.
House Flipping Success is 80% Preparation and 20% Perspiration
The Pareto principle is definitely in effect when it comes to flipping a house. 80% of your profits will come before you even purchase a property, with all your improvements and new floor plans and upgrades and hard work contributing only about 20% of your profits.
In simpler terms: do your research and buy right and you’ll lock in a profitable house flip before you even sign the closing papers.
Avoid the temptation to leap in before you’re ready. Don’t waste thousands on expensive weekend seminars from “house flipping gurus”.
Have you ever wondered why they’re wasting their weekends teaching seminars if they have a guaranteed system to make millions from flipping houses?
The honest truth is that you can buy three house flipping books and spend less than $50 total and get a better education and detailed roadmap to flipping success than spending tens of thousands of dollars on seminars.
Don’t buy into the hype. Don’t waste years and thousands of dollars chasing a pipe dream that promises you easy millions from investing in real estate without lifting a finger.
A Patient, Prepared Flipper is a Rich Flipper
Flip This House and other shows may glamorize house flipping but the reality is that successful flippers turn it into a boring, assembly line process.
Find profitable deals, complete renovations on or under budget that add value to the home, and pick the right selling price to move it quickly and lock in profits.
Rinse, lather, and repeat.
If you think that’s easier said than done, well, surprise — it actually is dead simple!
We’ve done the hard work for you and stripped down the basic of house flipping to the three guides featured here.
These are the best practical guides to house flipping on the market, chock-full of blueprints, business plans, and advice to get your house flipping business off the ground.