House Flipping Progressing

[Alton Bell]

Hello community. My name is AJ and I’m a new house flipper. Okay so I’ve been listening to a lot of podcasts and really just taking in on how people started off their house flipping business and got started. And I’ve heard a lot how people finaly take that first leap and get their first property bought rehabbed and sold and they catch “the bug” ( I can only imagine) but what I been hearing is how they get over that first hurdle of their first flip and then after that they just seem to go all in. Which of course I already am and I’m very motivated and determined to flip homes but the numbers I’m hearing is to me a bit far fetched. I listen to them say they flipped 4-8 houses their first year. Then go on to say they flipped 40 the next. To me it just sounds like they are on a take on every flip mission at any cost. I’m not sure if their is some whole selling in there but to me just seems a bit gassed up. Now my real question is primarily to seasoned flippers or anyone with a good input on how they started off. How did you handle wanting to do more deals and doing multiple deals simultaneously when you first started off? When I get rolling do I just go all in and take on as many projects that I feel comfortable with? Of course considering they are good deals and I ran the numbers and everything checks out but I question how some flippers handled multiple leads coming in when they first started off. I plan on paying myself a percentage of the profits I make off a flip and then putting the rest back into the business but I’m wondering how other flippers did it. When you had a property under rehab and another lead came in we’re you willing to put up all your cash reserve to do another flip? Granted I know if your short on funds you have options of private money and other ways to fund the deal etc. but that’s primarily my question is how was your business cash reserve looking like? We’re you willing to put all your money up and have 3-5 rehabs going on? How did that look like? How did that work out?

Any advice and input would be appreciated!