Flipping is the art of purchasing a property and transforming the real estate into a modern, luxurious, and desirable home that buyers are willing to pay a pretty penny to live in. It is an incredibly rewarding and lucrative business that has taken over the real estate industry within the past decade thanks to television networks like HGTV.
Is House Flipping While Working a 9-5 Job a Good Idea?
Although you might have weekends or a day throughout the work week off, it may not be the best idea to flip a house while continuing to work a 9-5 job.
While you may rely on your 9-5 in order to fund the flipping project or support your household during the construction process, being locked into a tight work schedule may prevent you from being fully present or dedicated to the renovations. Trying to balance both will inevitably leave you very stressed and as a result, very burnt out.
Flipping a house is time consuming and, in some cases, a very demanding process. More often than not, you or a partner will want to be on the job to oversee the construction is up to par and panning out as planned. Physically being present gives a sense of direction, prevents chaos from ensuing, and minimizes the risk of mistakes.
Many individuals who flip homes often engage in a bit of DIY. If you have the skills and experience, why not save a few bucks by getting your hands dirty with a few of the renovations yourself? Of course, going the DIY route will also require a bit of time, energy, and effort.
If you depend on your 9-5 for funding, there are alternative routes you could consider instead. You could speak to your boss about adjusting your hours or switch to a part-time position. Freelancing is another viable option for work that is a bigger industry now more than ever, according to the infographic released by Freelancers Union and Upwork. Crowdsourcing platforms, such as GoFundMe, could supplement additional funding required to complete the flip.
Flipping a house while working a 9-5 may not be the best idea. Trying to juggle the demands of both will burn you out. Furthermore, your 9-5 job may leave you too preoccupied to give the property you're flipping the attention that it needs.
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