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Updated almost 5 years ago,
Young Architect Starting Out Flipping -- Columbus, OH
Hello, bigger pockets world
I am an architect, I have just finished my master's degree in architecture and have practiced a few years prior -- together I have been in the game for around ten years.
Rather than returning to a job being a monkey at an architecture firm, working long hours, living on mediocre pay in an expensive market like NY or LA, I've decided to move back home to Columbus, Ohio to try to build my own projects.
With architecture, you’re never really trusted to build something unless you have already built something. So, in this case, I am hoping to be my own client and get my first work built.
Because I don't have a lot of cash on hand, I was imagining to first buy and flip, and with the money earned use it to purchase more and to keep it growing. Ideally, I would like to own rentals and eventually soon building new builds, once I have a built a network of contractors and trusted pros.
The goal is to challenge the business models of architecture offices and to also challenge developers a bit. The city is being overrun by developers and flippers doing minimal work to try to stretch their dollar as far as possible. I get it, it's capitalism. Though this is my home and I think it deserves a little bit more love than it is getting right now. And I recognize that by having good design sensibility, being an architect and understanding where to focus the money, I believe that I can make much higher profits for the same amount of money invested as a typical flipper.
My father, as a hobby, has been buying and flipping homes for the past 8-10 years. He has experience with the process, but I am hoping to find funding on my own. He is willing to oversee the project and will help me look out for problematic areas, and knows a lot of contractors.
I also would like to do a lot of the work myself, at least demolition, framing, electric (my father is a trained electrician), insulation, wood flooring, trim, etc. and my father has most any of the equipment I would need, but financially I would like to be independent of him.
What are the best ways to get started and to find funding without a lot of money on hand? I have the know-how and am confident that high profits can be made, I just am trying to find the best ways to purchase a house and fund the first project.
Thanks kindly!