Can You Flip Houses Part-Time?
Flipping houses part-time can be a great way to generate extra income on the side while you have a full-time job. Starting part-time can also allow you to 'dip your toe in the water' to see if flipping houses is for you before you quit your full-time job.
In fact, I started flipping houses part-time while I had a full-time job working as a Cost Estimator at a commercial construction company here in Kansas City.
My full-time job required 50 to 60 hours a week, but I managed to work evenings & the weekends and flip 2 to 3 houses per year and generate a part-time income that matched my full-time salary.
Sounds great, right?
Well, unfortunately nothing is that easy and the reality is there were many struggles along the way!
Ideally, if you can find a solid General Contractor to manage your projects, you realistically will only need to spend a few hours per week checking on the job site and ordering materials.
However, if you have a bad General Contractor, or if you are self-managing your own Subcontractors, or if your Contractors bail on your project, you could easily find your self spending 20+ hours a week trying to 'right the ship'.
Unfortunately, on a few of my rehabs I had contractor issues, so I ended up doing a lot of the work myself. I was working 50 to 60 hours per week and then working on the house at nights & weekends to get the rehab done. That wasn't fun!
Remember, 'sh*t' is inevitably going to happen flipping houses. You need to ask yourself do you have the time, mental strength and fortitude to persevere when sh*t hit's the fan?
Is Part-Time Flipping For You?
You need to take long, hard look in the mirror and ask yourself what your goals are for flipping houses. Is your goal to make extra income part-time, or is the ultimate goal to quit your job and flip houses full-time?
If you are flipping houses part-time you need to understand that there will be personal sacrifices & career sacrifices. You may have to take long lunches, leave work early and take personal phone calls during the day which could lead to poor performance at your job. Once you get off work, your free time will be dedicated to checking on the job site, buying materials or getting your hands dirty.
So before you start flipping houses ask yourself these questions:
- What is your long-term goal? Is your goal to quit your job and flip houses full-time down the road? Or is it to just make extra income on the side?
- Are you willing to sacrifice time with your family or friends?
- Are you willing to sacrifice your job performance/career?
- Does your full-time job offer flexibility to visit the job site during lunch?
- Do you have enough time after hours to go check on the job site?
- Can you take personal phone calls during the day if your Contractors have questions?
- Will you get fired/or written-up if you are caught working on your flipping business instead of your work?
- What will you do when 'sh*t' inevitably hits the fan?
Once you've answered these questions you should have a better idea if flipping houses part-time is the right path for you.
Please let me know if you have any thoughts! Comment below:
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