Supply chain and state of the market (flipping)

[Alex Lloyd]

I am considering taking the leap into full-time real estate investing, and leaving my career as a software sales person.

I feel that the 2+ years I’ve studied/educated myself (podcasts, books, networking etc.) and my 10+years background in sales (generating business from scratch, relationship building, solving problems etc.) - I’m in a position to be successful.

To jumpstart my RE business (and provide for my family in the short term until I've scaled), I plan to start with flipping small sfh for most likely the first 1-2 years, to generate the cash I need to set me up for my long-term plan of buy/hold (BRRRR), mfh, AirBnB, etc.

My concerns with getting into flipping right now:

- supply chain issues: lumber, industrial, etc. supply chain issues causing problems for flippers (holding on to asset for too long while waiting on backlogs, price of materials due to short supply etc.)

- recessionary signs/trends: rising interest rates, volume of home sales (at least in my market) seem to be tapering off, etc.

Is any seasoned/experienced flipper up for taking a call with me to talk me through how you are looking at the state of the flipping market right now, and helping me see any blind spots I may have before I take the leap? (Or if you’re in the ATL area - would be happy to treat you to coffee/lunch!)

Would really appreciate any help here, and hopefully there is something I can help you with as well - whether it be now and/or in the future.

[Chris Seveney]

@Alex Lloyd

I recommend having 2 years of salary set aside before leaving your w2 job. Leaving your job before doing a first flip to me seems pretty risky.

Flipping provides no cash flow and if you have never managed contractors and written contracts/scopes of work it is not an easy thing to do. Recommend doing a few before jumping all in.