Apologies folks… I have taken a little time off from the gym because we have been very, very busy lately. Here’s what’s been happening:
- My then girlfriend, Kelly, was adopted at birth. She took a DNA test on Ancestry.com and FOUND HER ENTIRE BIOLOGICAL FAMILY! Kelly’s mom and dad are both still alive and in their early 70’s. We have already visited several times with her mom’s side. They are closer, so it is easier. Her dad’s side is all in Michigan, while we are in TX. We are trying to plan a trip up there to see them. We found out that Kelly has 5 sisters. 4 on her dad’s side, and 1 on her mom’s side. We have only met people on her mom’s side so far. So far, this has been an awesome experience! This alone has kept us pretty busy… but wait… there’s more!
- Right after Christmas, we got engaged in front of the 2800 people attending the sunset at the Oasis in Austin, TX!
- I got a promotion at work! I am now a software Architect at my company. This has also meant spending more time ramping up and taking on extra responsibilities. I am enjoying getting away from the tedium of programming and doing more of what I like now. I have done architect work for years as a consultant, but this is more official. I enjoy slicing and dicing things at a larger level and thinking things through to create solutions more so than detailed coding all the time.
- We started flipping houses! We are done with our first one, which has taught us MANY lessons. This is the primary reason that I have put the gym on the back burner for a bit. Many of the nights that I would go to the gym, I would spend working on the house instead. I am hoping to figure things out more so that my contractors can do almost all of the work so I can keep hitting the gym. In any case, our first flip is now on the market in Leander, TX:
Although the house is on the market, I am still taking care of some things to make it complete. I just power washed the driveway yesterday for 3 hours. I also have to fix a fence that is leaning in the back. It seems like it never ends! It has been a lot of work, but I really enjoyed it. We had a full price contract this week, but they backed out in 12 hours because of something not working out on their end. All realtors have been telling us that the home is priced right and it is showing a lot, so we are confident it will sell soon.
Our first flip has been a success! It could be a bigger success, but that is what experience teaches you. We have an ace up our sleeves because my fiance is a realtor. So we make her 3% just when we buy the property. Then she sells for only 1% commission. I am still trying to figure out a way to reach people and sell without any agents to maximize profits, but one way to help there is to work with homes that cost less. With Kelly being a realtor, we have an advantage on foreclosure bidding and other purchasing because we have a bigger margin than most investors who have to pay a realtor.
I won’t say what the profit was on this flip, but what I can say is that if you count my pure profit and Kelly’s commissions on this property, a single flip can pay for about half of college tuition for a state school here in TX. That includes top schools, like University of Texas (UT) of Austin. You can easily flip 2 houses in a year and pay for the entire 4 years of school for your child. Or build that pool you wanted… or at least half of it. The point is, this money is gravy… above and beyond our regular income… so it doesn’t have to go to bills or other things. It is like a big bonus check a few times a year.
Our goal is to get to doing 2 smaller homes at a time. Smaller homes that cost less are better because the profit points are about the same. They are smaller so you can flip them faster. They are cheaper so more people can buy them and they sell faster. With a formula that works better, you can conceivably turn at least 6 properties around a year. If you are successful at achieving this, then you are effectively able to pay for 3 kids’ college tuitions in a single year. Or, just don’t buy / pay for anything at all. Instead, save your profits and use your own money to buy properties. Without having to borrow money, you make at least $12,000 more per property.
I am planning on putting some type of flipping site together. It will most likely incorporate a YouTube channel. I’m just waiting to build the business up more before I take that step. We are basically trying to fire on all cylinders, both of us, and make as much as we can while living a good life so that we can really live the good life. Although I am enjoying my day job nowadays, the dream is to not need a day job. I don’t want to worry about layoffs or being forced to retire. I don’t want somebody else being in control of my destiny. I will do the day job until there is more than enough to never need a day job again. Until then…. the grind.
Anyway, now that the house is on the market and almost complete, I shall be returning to the gym. Muscle memory is my friend. You should know this if you have read those posts that I have written here. I haven’t been gone that long so I am basically about the same as I was before. I will be shooting for lower weight and aesthetics this time around. But for now… I must ramp up again.
If you have any questions about flipping or lifting, please ask! I’d love it if I was any help at all.