Good encouraging video. I first discovered the idea of land flipping almost 2 years ago, and starting in January I joined one of the communities like yours. Things are tight right now and I'm not yet confident in all the more creative financing methods, so I've only sent a few letters on properties I absolutely know I can sell for a profit, but no responses yet. As I gain knowledge and confidence I've started flipping older video game stuff to make a little extra cash. I disassemble, clean, repair, and sometimes mod them. In the end the dollars per hour is a lot less, but I'm getting skilled at following the market, making deals, making sales. I hope to switch back to land next year.
Thanks for sharing your thoughts and experience, Steven! What do you think would increase your confidence? Would more access to capital help? Or just a firmer knowledge of how to evaluate each market you're going after? I'm curious what you think the holdup is.
@@Retipster I'll try to keep it short as I can. I'm 34 and my finances fell apart when the government shut down the economy in 2020. Things are very tight, and will be if all I do is rely on an 8-5 job. If that had never happened, I'd be nervous doing something new, but I'd be fine taking a risk. I'd find it an exciting risk to take. Now I've been burnt so many ways I'm terrified of getting further behind and having to say welome to walmart at 75 because of it. My mom has money and would be totally fine to finance 20k or so if I find a good deal, but if something were to go wrong then she would assume that either the concept doesn't work or I can't execute it so she wouldn't take that risk again. I'm pretty confident evaluating the market I'm looking at, which is raw land in my state. All that being said, I've only mailed on a couple plots that I KNOW the value of and the speed I can flip them, but it's just too much time investment for no return at the moment like you talked about here. That's why I started flipping old video game stuff. The market is easy to track, I have the skill to repair and mod, and the risk is low. Hopefully I get in a spot I'm not treading water trying to afford living and can focus on land exclusively. One last thing. I have considered that if I found someone who had shown success in flipping then I would be down to borrow from my mom and use it to finance them to make more and bigger purchases than they can with their own capital, but that hasn't happened yet.
![[#2024MAMA] G-DRAGON - 무제(Untitled, 2014)+POWER+HOME SWEET HOME+뱅뱅뱅+FANTASTIC BABY | Mnet 241123 방송](http://i.ytimg.com/vi/Ox29z5Nf1Uk/mqdefault.jpg)
Good encouraging video. I first discovered the idea of land flipping almost 2 years ago, and starting in January I joined one of the communities like yours. Things are tight right now and I'm not yet confident in all the more creative financing methods, so I've only sent a few letters on properties I absolutely know I can sell for a profit, but no responses yet. As I gain knowledge and confidence I've started flipping older video game stuff to make a little extra cash. I disassemble, clean, repair, and sometimes mod them. In the end the dollars per hour is a lot less, but I'm getting skilled at following the market, making deals, making sales. I hope to switch back to land next year.
Thanks for sharing your thoughts and experience, Steven! What do you think would increase your confidence? Would more access to capital help? Or just a firmer knowledge of how to evaluate each market you're going after? I'm curious what you think the holdup is.
@@Retipster I'll try to keep it short as I can. I'm 34 and my finances fell apart when the government shut down the economy in 2020. Things are very tight, and will be if all I do is rely on an 8-5 job. If that had never happened, I'd be nervous doing something new, but I'd be fine taking a risk. I'd find it an exciting risk to take. Now I've been burnt so many ways I'm terrified of getting further behind and having to say welome to walmart at 75 because of it. My mom has money and would be totally fine to finance 20k or so if I find a good deal, but if something were to go wrong then she would assume that either the concept doesn't work or I can't execute it so she wouldn't take that risk again. I'm pretty confident evaluating the market I'm looking at, which is raw land in my state.
All that being said, I've only mailed on a couple plots that I KNOW the value of and the speed I can flip them, but it's just too much time investment for no return at the moment like you talked about here. That's why I started flipping old video game stuff. The market is easy to track, I have the skill to repair and mod, and the risk is low. Hopefully I get in a spot I'm not treading water trying to afford living and can focus on land exclusively.
One last thing. I have considered that if I found someone who had shown success in flipping then I would be down to borrow from my mom and use it to finance them to make more and bigger purchases than they can with their own capital, but that hasn't happened yet.
Never give up 😇 great pod as always Seth
Thanks!