Parents, you’ve got questions, we’ve got answers.

Or just as likely, we’ve got questions and you’ve got answers.

Challenge: Open Discussion

HGTV Stars Show Parents How to Succeed in Real Estate

1
Vote up!
Share on Facebook Share on Twitter Email this article

Tarek and Christina El Moussa, of HGTV’s “Flip or Flop” have developed an exciting and unique educational program event series for anyone looking to renovate for profit full-time or just as supplemental family income. Success Path’s principle goal is to provide its students with the necessary foundation to build the future of their dreams.

The program offers a variety of courses ranging from an introductory 3-day weekend training in real estate investment and flipping, to more in-depth training and events, as well as one-on-one coaching. Flipping houses comes with the flexibility to work as much or as little as you’d like, thus making it the perfect fit for buys parents. Dedicate what time you can and reap the rewards that follow.

Visit their website to learn more and register for a Success Path event near you, but for now - here’s a little digital Q&A to get you started:

How much time does it typically take to flip a house for a profit?

This will vary from project-to-project and an exact time frame cannot be give n.

What do I need to know before I get started with real estate investing?

No prior experience or knowledge is required.

Do you need a lot of money to flip houses?

One of the subjects covered during our workshop focuses on how to find lenders and use as little of your own money as possible.

How much risk is involved in the business of flipping houses?

Risk varies depending on the project and the role you choose to take in the flipping process. A few tips on reducing elements of risk can be found here on our blog.

Is there a chance that I’ll lose money flipping houses?

There is always a chance that you can lose money with any type of investment, including flipping a house. At Success Path, our goal is to provide you with access to the knowledge and tools to minimize that risk.

What are some of the biggest mistakes that people make when they first start flipping houses?

The biggest mistake new (and even experienced) house flippers make is not doing their homework. Many of these mistakes are covered during our events as well as how to avoid making them.

How often do flips turn into flops?

A flip can turn into a flop when there are unforeseen complications or costs. Success Path recommends having homes thoroughly inspected prior to purchase.

What is the number one piece of advice you would give to someone looking to get into house flipping?

Be prepared to put in the work. House flipping is not an easy process and requires a lot of legwork and homework.

How much work will it take?

It takes a lot of work if you want to be a successful real estate investor, but it’s easy and profitable if you are willing to follow the rules that we outline in the Success Path courses.

What are some of the specific steps I need to follow to be successful?

While there are several steps to take in order to be successful, Success Path students have seen success because they follow the direction of their coaches.

What are the most common pitfalls when flipping houses?

Most mistakes happen when investors are unprepared and they allow greed to take over.

This post comes from the TODAY Parenting Team community, where all members are welcome to post and discuss parenting solutions. Learn more and join us! Because we're all in this together.