Ben Moskel ! From High School English Teacher to Real Estate Investor

It is hard to believe that I started life in the working world more than 20 years ago as a high school English teacher.

 

As much as I enjoyed teaching, I knew it wasn’t the right career for me.  I knew I was in the wrong place.

 

I had a couple sales jobs, and those didn’t seem right either.

 

It wasn’t until I started flipping my first house in 2009 that I finally felt like I had found the right place.

 

I felt like I had figured out what I wanted to be when I grew up ; )

 

I used to wake up to an alarm clock at 5:15 am Monday through Friday to go to school and teach, and 6:30 am most weekends to coach track and field or volleyball, depending on the season.

 

I have never been a morning person.  My body never adapted, and I was always exhausted.

 

Now I wake up around 7:30 am each morning, excited to start the day and jump into the world of opportunity that real estate offers to anyone who wants it.

 

Does any of my experience sound familiar to you?

 

Do you feel like you are in the wrong profession?

 

It’s time for you to take action.

Ben Moskel - What are House Flippers Making Right Now?

Yesterday Ralph, a subscriber, sent us this question:

Is it possible to do flips and make a decent profit without doing the manual labor yourself? And if so, what is the average amount of money that needs to be invested into fixing up each property and what is the average profit after selling?

Here are answers to those 3 questions:

1. You don't want to be doing any of the labor yourself.

Your job is to oversee the flip.  You drive out to the property 2-3 times per week and check on the progress.

You should be doing your flips without touching a hammer.

This allows you to build and expand a real estate business that is sustainable over the long term.

2. Every flip has a different rehab budget.

Some flips require lots of work while others require only cosmetic repairs and upgrades.

The key is to get an accurate and realistic estimate of the costs before you make an offer on a house.

3. According to Realtytrac's U.S. house flipping report, the average gross profit per flip was $55,000 last year.

Redfin recently did a study showing the average gross profit per flip was $102,400.

Ben Moskel

The Redfin study included the purchase and sale prices from tens of thousands of flips.

Unlike Realtytrac, Redfin included the numbers from actual flips, and excluded certain transactions such as those between family members.

In other words, $102,400 gross profit per flip is likely more accurate.

IMPORTANT: This is the highest gross profit since Redfin began analyzing house flipping.

If you've recently decided to start flipping houses, your timing is right on the money.