Are you a homeschool mom who’s been looking for ways to help the family by bringing in a side income? Do you see the potential in ugly houses? Listen in on this fun chat with homeschool mom Amy Snyder as she tells us all about house flipping while homeschooling!
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What is house flipping?
House flipping and real estate investing have a lot of potential as great side gigs for homeschooling moms. If you can learn the business and how to run the numbers, you don’t have to necessarily involve yourself in all the dirty work of renovations – but you can still make a nice income while still homeschooling.
“House flipping” is a broad term that can mean multiple things. But the main point is that you will buy real estate at less than it’s worth, renovate it, and then either resell it for a profit or hold onto it and find a renter.
There are additional ways to do house flipping depending on your state in life, such as house hacking. An example of house hacking is that you could buy a duplex and rent out the one side while you live in the other. Hopefully if all the numbers work out, the other tenant will be paying off your mortgage for you!
How can homeschool moms flip houses?
Since we know that homeschooling can be done in far less time than it takes in a traditional classroom, even if you’re homeschooling multiple kids, it doesn’t have to take all day! But, you may still have babies or toddlers and need to be home throughout the day. Or you may want to be home throughout the day.
That’s all fine – because even while being a mostly-stay-at-home homeschooling mom, you can still flip houses.
As we’ll hear in our chat with Amy below, you just have to learn to use the pockets of “mom time” well that you do have. Instead of scrolling social media aimlessly, use that time to search for depressed property for sale. Or find recommendations for contractors. Or listen to a house flipping podcast to help you learn how to do it.
Homeschool moms have what it takes to make a nice side income to help the family if this type of thing interests you! So, if your interest is piqued, check out my chat below about how one mom “does it all.”
Episode 253 – Homeschool with Moxie Podcast
Amy Snyder is a busy homeschool mom of two who also runs the family business PLUS flips houses on the side! Listen to our chat on episode 253 of the Homeschool with Moxie Podcast to learn more about house flipping while homeschooling.
Follow Amy’s house flipping business:
Here’s what we’ll talk about in this episode:
- the biggest challenges of doing house flipping while homeschooling
- the biggest benefits
- how have your kids been impacted in a positive way by seeing you run this business
- how to fit house flipping in while homeschooling
- what people don’t realize about house flipping that they should know before jumping into it
- how did you start house flipping
- what’s the timeline for a typical flip
- do you do the work yourself
- do you sell or rent out the renovated home
- how can moms find the capital to begin
- where do you find houses
The whole conversation with filled with great advice and actionable strategies. Here are some of my favorite tips from Amy:
- Learn how to comp – this is where you’ll use a tool like Zillow to find recently sold comparable properties and figure out what the target property would be worth once fixed up
- Network!
- Ask for help – this is crucial if you intend to homeschool while running a business
- You can do more than you think
- Use your time wisely
- Plan to take action
- Don’t be afraid to try something new
Resources for House Flipping
BiggerPockets – they have a website, podcast, and dozens of amazing books to help you get started
Here are some of my favorite books from BiggerPockets:
- The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties
- How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started
- The Book on Estimating Rehab Costs: The Investor’s Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs
- Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple
- The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate Investing
In addition to BiggerPockets, Amy also mentioned:
- Jenn & Joe Della Fave – Creative Finance Playbook
- Pace Morby on YouTube or Get Creative with Pace Morby (Podcast)
