What did you do before you flipped properties?

Question

Hello,

My name is Sierra and my long term goal involves flipping/rehabbing homes. I wanted to know if the rehabbers here could share what they did before flipping homes. Were you working a 9-5? Did you have an occupation related to Real Estate? If so, how did you incorporate it into your flipping business today?

Monica Breckenridge · Answer

I was a fingerprinter working the night shift at the local Police Department.  I actually loved my job, but didn't like that I could take a day off when I wanted to take a day off or take a vacation when I wanted to.  So that is when I got into real estate. Now I work more hours than before, but I can take my days off when I want to.  If I'm having a family emergency I can deal with it and not get approval.  I can go on vacation when I want.  I love what I do now and it brings me great satisfaction.

Account Closed · Answer

I was a computer guy and I was making really good money. I started buying rentals because the stock market is like a casino. Too much risk for the low rewards. I eventually got enough rentals that I didn't need to work a regular job anymore, so at the age of 42, I "retired" to spend my days managing my investment portfolio.

Bryan L. · Answer

I'm still an engineer part-time, and had about 15 years in engineering before I accidentally stumbled into real estate investing.  The project management experience from the engineering career has served me well with real estate, especially rehabbing.  Some other things that helped me with rehabbing is having helped my dad build a house when I was about 12, and a few shop classes that I took in high school.

Jay Wright · Answer

I am (hopefully for just a few more years) a IT Systems Administrator.  Fell into real estate after building a new home for my family(started in 2006, finished Dec 2008).  Could not sell the old home due to being underwater so I became a landlord.  From there I noticed the deals in my neighborhood and started buying them. So here I am today, 6 SFR and 3 flips later.

Going to look at possible deal #10 today at 4pm.

Best of luck!

Larry Smet · Answer

I was (and still am) an environmental engineer.  I learned from some pros how to flip houses long distance (I live in Toronto, but over the last year I've done a flip in Orlando and several in Chicago).  I still have my day job and don't plan to change that anytime soon, but having that second income stream is really nice.  I plan to continue flipping but also want to start acquiring some rental properties over the next several months.

I know many people investing in real estate and they all come from very different backgrounds - and most didn't have any previous experience in real estate.  My engineering background was useful, but certainly not essential.  If you stick with it, you can definitely make it work Sierra.  Good luck!

Derek W. · Answer

I was a construction worker. My first job was painting houses for a flat wage of $50 a day. Worked my way up to eventually getting my contractors license and building spec homes. My tool bags are now hung in the shed with cob webs on them, but I've always been glad to have a deep construction background for rehabbing houses.

Sierra Murphy · Answer

Thank you all for sharing your stories. I love how all the answers are different and for the most part seems like you guys had rehabbing find you verses you perusing it. And thank you Joe, I have found they answer to my question here. With the exception of Jerry, I figured everyone was going to say they were past Real Estate agents, lawyers, or the like. It's cool to see that these occupations are not necessary to get your hands into rehabbing.

Pat L. · Answer

we were a bunch of engineering students (Australia)

Just for summer break kicks (& $$$) we bought old run down homes with OH mtgs, renovated them & then rented out the rooms (& the front screened in porch on one).  Most of them were then sold to fellow graduate students so we would do a form of wrap mtg.

(Our best plumbing accomplishment was an outside urinal on the back wall screened in by the old banana trees.)

the rest is history.....

Jerry W. · Answer

I am an attorney, I was doing mostly real estate, criminal, and estate work.  I wanted to own rentals as a retirement plan, and they were too expensive to buy if they were nice, so we had to buy run down houses and fix them up to rent.  We never did fix up to resale, but are trying it now.

Michaela G. · Answer

I was an international forwarder (like an international travel agent for cargo) and one sleepless night I saw an infomercial with Dave Del Dotto. That made me think: What? You mean, that I can decorate houses and make money with it, but don't have to have anyone else tell me what they want?'

Huh! Sign me up!

That was in '89.

I quite my day job in '95 and have been dabbling in it ever since. (I don't really want to work so hard. No 40 hour weeks for me. Just work when I feel like it)

What did you do before you flipped properties?

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