Episode 53: Flipping Homes on the Emerald Coast

January 9, 2023 melissa Real Estate Comments Off on Episode 53: Flipping Homes on the Emerald Coast

Episode 53: Flipping Homes on the Emerald Coast

In today’s episode, our guest is Maggie Médal. We’ll talk about flipping homes on the emerald coast. From her corporate life, her transition to real estate, to her future plans in the space.

Stay tuned!

The points below are from the 53rd episode of The Real Estate JAM, where we discussed flipping homes on the Emerald Coast and everything you need to know to make it successful.

Tune in to the full episode on YouTube, Spotify, or Apple Podcasts.

 

Start Small and Play it Safe.

When you’re new to flipping houses, you can do it as a side hustle while still working your full-time jobs. This will allow you to test the waters and see if you are interested and capable of doing this type of work without quitting your day jobs and risking financial stability. By starting small and gradually building their business on the side, you could gain experience and knowledge and save up some money before transitioning to a full-time business.

 

New Changes, New Market

Sometimes, all you need is the courage to start something new. This may involve changing work and even moving to a different area, but you won’t know what the possible returns can or will be until you make the change. Sometimes, you just need to be willing to try something new or get into something different to find your path in this world, just like our guests did.

Want to learn more? You can listen to the full episode on YouTube, Spotify, or Apple Podcasts.

 

Outline of the Episode:

  • [00:48] Let’s welcome our host and our guests!
  • [04:04] “It didn’t take long to realize that working for myself was something that I wanted to do. When you realize something, you act on it ASAP.”
  • [10:51] “We didn’t just start flipping houses. We gained some experience first that we knew would be valuable to us when we started flipping.”
  • [12:50] Is nine months a short or a long time to go from being a non-flipper to becoming a flipper of homes?
  • [13:38] What is it like if your business partner is also your spouse? How are the dynamics?
  • [14:35] If you are thinking of starting a business with your partner, take one of those predictive index assessments because it will give you a lot of insight if the partnership can work on a business scale.
  • [16:59] It’s important to know your strengths and weaknesses. Find out how you complement your partner to make the business work.
  • [20:40] Everyone’s always interested in the private money aspect of the business. What do people need to know?
  • [24:54] For people who are just starting to get into raising money, where should they start?
  • [29:31] In this business, it’s essential to know what your goal is. Set a goal and then find ways to achieve it.
  • [38:30] Networking is such an essential part of this business. Knowing who you know and what you can learn from them is important.

 

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