Take the first step this weekend to go do something else!

I had written about the mentor that I had met at the house flipping seminar that I went to a year ago.  I haven’t done anything with it since then.  However, I still get random emails from him (not personalized) every quarter about events he’s holding to talk and network about flipping houses.  I’d usually read them and ignore just because I had no capital to even do it.  Well, I had a conversation with my buddy a month ago who basically challenged me to go flip a house since he didn’t think I’d actually get off my ass and do it.  He said he’ll easily front me the capital.  Then earlier this week, my mentor sent out an email for a BBQ event today where we’ll walk through a current ‘fix and flip.’  It was like the moon and the stars aligned!  But yet, it took me up until Thursday afternoon to actually accept the invite.  Why?  Because I had been so busy all week buying gift cards and making runs at Target and procrastinating.  I also made the excuse that the BBQ was 1.5 hrs away.  But after the $.50 Ticketmaster fiasco and yesterday’s post, I realized I could NOT say NO.  When opportunity slaps you in the face like this, you don’t turn it down.  Even if I never flip a house, the 4-5 hours I’ll spend networking with experts at the event will be more valuable than 4-5 runs to Target.

Now I realize most people don’t have the same opportunity.  I get that.  However, I’ve gotten a lot of emails from people who want to get into reselling.  Every time I read that, I just think, “Why are you NOT ALREADY RESELLING?”  The barrier to entry to reselling is as low as buying and unloading gift cards.  Even if you lose money on the first resell, the information you gain will be more valuable than driving to Walmart.  Trust me on that.  I guarantee it!  You won’t regret it!   I was selling on eBay for 15 years and never got my lazy ass to start an Amazon FBA account for the sheer fact that I was comfortable and just too lazy.   But after eBay banned me, I created that FBA account and it took all of 5 minutes.  It was like a mountain lifted off my shoulders.  It wasn’t that painful at all.  So go do it.  Read Trevor’s post on how to do it.  Once you’ve set it up, go buy something from Target, Kohl’s, Walmart, Bed Bath & Beyond, Macy’s, WHEREVER!  Heck, look inside your house.  Do you have a wedding gift that you never opened?  A white elephant gift of a fondue set that you’ve never opened?  NOW GO POST IT AND SELL IT ON AMAZON!  Now you’re a reseller!  Here, I’ll even give you this sweet badge to wear around this weekend.  Jokes aside, if I am still writing about MS in a year (assuming this blog still exists,) I will slap myself in the face! 

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8 comments on “Take the first step this weekend to go do something else!

  1. I really like your insightful posts! What I always feel confused is that you are able to invest significant time on this awesome blog, as someone who always brag how lazy he is.

  2. Keep us updated on your flippin’ progress. I want to do it, but….I’m a little afraid. It sounds like frekwentflier has good advice.

  3. I’ve flipped over 20 houses and my wife is a real estate agent now. The best advice I can give you is to start with a newer house that just needs cosmetic repairs. The first house I flipped was a 100+ year old complete redo. I was very lucky to not lose money on that one. It was a scary learning lesson that I will never repeat. I estimated that I would make over $100k in profit and ended up making about $5k. That’s how many surprises we ran into. It was a complete waste of time and effort.

    The second house I did only needed new carpet and paint and I made $20k on it. All those houses they show on TV that are complete redos, those may make big money but they can also crush you. With a newer house, you probably won’t face the surprises that can accompany an older house.

    I highly recommend that you get this ebook: http://get.biggerpockets.com/flippingbook/ and spend a lot of time on BiggerPockets. The single best REI site on the net.

    Also, think about getting your RE Agent’s license (or have your SO get it like I did). If you sell thru an agent, it’ll usually be a 6-7% total commission. You can keep half of that if you have your own license. It really adds up.

    Best of luck in the flipping business!

    1. Thanks for the great advice. I’m going to email you some questions about flipping; hope you respond.

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