What Does Financial Freedom Really Look Like to a House Flipper?

Tarek El MoussaBlog, Budgeting, Real Estate Business, Real Estate Investing, Rehabbing0 Comments

Financial Freedom on Red Road Sign.

success path, success path education, financial success, christina el moussa, tarek el moussa, start a real estate business from home, real estate investing“Financial freedom” is one of those buzz phrases that you hear business experts and motivational speakers use a lot. It’s also a phrase that means different things to different people, so it’s hard to really nail down a hard definition. Everyone can basically agree that being financially free means that you’ve gained enough wealth that you can have the lifestyle you want to live without actively working. That seems pretty simple, but it gets kind of tricky when we have to define what that lifestyle is. That’s when it becomes clear that some people’s ideas of financial success and financial freedom are different than others.

For example, some people might not think they’re financially free unless they can charter a jet around the world any time they want. Other people might think they’re financially free if they can just live a simple life for the rest of their days without worrying about expenses. Those are kind of extreme examples, and Christina and I, like most people, are somewhere in between the two.

So what does financial freedom look like to your typical house flipper? Here are a few ways that flipping houses can help you achieve financial success and a few examples of what that kind of success and freedom looks like once you’ve gotten there.

No More Day Jobs…Ever

First of all, depending on your goals for your real estate investing business, you can make a good living flipping one house at a time, or you can flip multiple properties at the same time and make even more money while growing your business. Whichever route you take, when you choose to fix and flip houses, you’re choosing a lucrative industry that’s sustainable and a lot of fun.

The more you learn about the industry and the more experience you gain in it, the better you’ll be able to pick out great deals and pass on duds. In other words, the longer you’re in this business, the more successful you’ll be, and the less likely you’ll be to need to go back to your old day job.

Creating Passive Income Streams

As you make deals and get great profits on your flips, you might be tempted to sock that money away for the future. The thing is, though, you can put it to much better use if you invest it again. As you build your reputation in the industry, you can not only continue to invest your money in your own flip properties, but you can also invest in other flippers’ properties.

Then, if you want to, you can transition away from flipping your own properties entirely and move to making your money as a private lender or investing partner. This can really set you up well for retirement, even if you want to retire at 35 or 45 instead of 55 or 65. Then, you won’t just be living on the money you’ve saved but on passive income that’s still rolling in.

Your Business Can Run Itself

Finally, if you decide to grow your business and delegate tasks like finding leads, making deals, and doing rehabs to your employees and contractors, then you can sit back and let your house flipping business run itself.

Nothing says financial freedom quite like setting your business up in a sustainable way so that you don’t have to micromanage every single thing. Most days house flipping doesn’t seem like work, but sometimes you’re going to want to be able to get away. If you set yourself up right, with the financial success you build in the real estate business, you can do that almost any time you like.

Leave a Reply

Your email address will not be published. Required fields are marked *