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Property Ladder

Here’s a show that comes on TLC that has caught my interest quite a bit over the past couple of months.  For anyone that’s not seen it, it’s a show that shows a person’s purchase, fix-up, and sale, most commonly known as a flip, of a house.  The more I watch it, and the more I do real renovations to a house, the more I actually would like to give this a shot.

Instead of doing what alot of the people do, and just jump head first into it w/o researching and looking at the property more to figure a more realistic budget, I would.  I’m going to read as much as I can from people that have done it or do it regularly to help give me as much knowledge as possible so when I decide to pull the trigger and try a flip on my own.

The largest advantage I have over what alot of the people that I’ve seen on this show, is that the work that would need to be done on the place would almost entirely be done by myself, brother, and my dad.  My dad actually built our house that we live in now completely, so he has the knowledge on any repair work or construction that would need to be done.  This would drastically cut the budget that most people would figure, because it would cut out most of the pricey labor, and make the budget almost just materials.

I do know that some flips become flops and this can be very risky.  But I just feel like we could pull off a successful flip and make some very nice profit in the amount of time and work that would be invested in it.