Is Flipping Houses Part Time or on the Side Possible?

If you’ve been thinking about flipping houses for a while but the fear of the unknown and the phrase “don’t quit your day” keeps ringing alarm bells in your head, you might want to consider flipping houses part time.

Flipping houses part time can be a great way to get started, while still maintaining the safety net of steady income from your regular job.  

You might be wondering though Is flipping houses part time even possible?

In this article, will take an in-depth look at this question to provide you with both practical and sound advice on whether flipping houses part time is achievable.  

Can you Flip Houses Part Time?

To begin with yes, it’s 100% possible to flip houses part time.

In fact, many full time house flippers that now flip multiple houses a year got started flipping part time. 

House flipping is not an easy business to get into as it requires a lot of resources and knowledge to be successful.  Because of this part time house flipping can be a great way to get started as it allows you to get your feet wet and slowly collect the needed resources over time. 

Part time house flipping is not just a great way to get into the business though as it can also be a great long term strategy as well.

I personally know several house flippers who choose to flip houses part time because it fits their needs better than flipping full time.  

Top 6 Reasons to Flip Houses Part Time

There are many reasons why part time house flipping can be a great strategy for house flipping.  Below are some of the more popular reasons why people choose to flip houses part time.  

• Looking for Extra Income –  Flipping 1 or 2 houses a year can be a great way to make some additional income on the side.
• Busy Schedule or Lack of Time – Someone with a busy schedule might choose to flip a few houses as opposed to flipping none at all. 
• Enjoy Current Full Time Job – Some flippers choose to flip part time because they already have a full time job they love or enjoy they don’t want to leave.
• Just Getting Started – As mentioned above flipping houses part time is a great way to get started in the business.
• Lack of Resources – Flipping houses requires a lot of resources and capital and many people only have enough resources or capital to flip one house at time.
• Provides Income for Cheap Living – People that don’t need to make a lot of money can make a living flipping part time because their expenses are so low.  For example I know a guy that flips one house a year and lives off the income from that one flip for the whole year.  Where he usually works on a house for 6 months and then takes the next 6 months off.  Keep in mind though this is only possible if you are living a very frugal and low consumption lifestyle.   

Pitfalls to Avoid When Flipping Houses Part Time

While flipping houses part time is very possible and can offer many great benefits there are some pitfalls and traps that you must be careful to avoid when flipping part time.

The first thing to remember is that part time house flipping doesn’t mean there is any less work required in flipping a house.  House flipping requires a lot of time and energy and just because you choose to pursue flipping part time doesn’t mean there is any less work or effort involved.

The biggest difference between part time and full time house flipping is not the amount of work involved but how long the work takes. 

Where a full time house flipper might successfully flip a house in 3 to 4 months.  A part time house flipper might take 6 to 8 months to flip a house because they spread the workload out over a longer period of time.

The second thing to remember if you choose to flip houses part time, is that you still need to stay up to date on real estate trends and housing prices in order to make informed and correct decisions in your house flipping business.

One of the biggest problems and challenges in flipping houses part time is the potential for gaps in market knowledge, which can lead to poor decisions and potential losses when flipping houses.

Keep in mind that just because it’s been many months since you last flipped a house that doesn’t mean the real estate market has stayed frozen in time. 

The real estate market and housing prices are always in a constant state of change and flux.  So when flipping houses part time it’s important to stay informed and up to date about your local real estate market.   

Top 7 Tips When Flipping Houses on the Side

• Make a schedule and stick with it – When flipping houses part time it’s easy to get off track or let an entire week go by without getting anything accomplished.  While you might move at a slower pace it’s still important to keep the house flip moving forward.
• Have Appropriate Expectations – Don’t expect full time results with part time efforts.  If you plan to flip houses part time don’t expect to make a fortune.  While house flipping can be a great side income, as with any business you get out of it what you put in.
• Always Stay Current on the Real Estate Market – Just because you choose to flip houses part time doesn’t mean you don’t need to know the same information that a full time house flipper knows.
• Keep a Close Eye on Contractors – When flipping houses part time and using contractors or subcontractors don’t assume things are getting done in your absence.  It’s important to check on your flip every day or at least every other day to make sure work is getting done on time and correctly.
• Consider Hiring a Project Manager – As a part time house flipper, you might not always be able to be on the job site.  So if the budget allows for one, you might want to consider hiring a project manager that can be there in your stead.  
• Check on the Property Routinely – When flipping houses part time don’t forget to check on your house flips on a regular basis.  When a house is sitting empty things can often go wrong such as water leaks or vandalism, so it’s important to go by the property at regular intervals to ensure the property is in stable condition and secure.
• Always Keep an Eye Out for the Next Flip – When flipping part time it’s easy to slack off on looking for your next house flip.  Remember though whether flipping houses part time or full time, finding inventory is the lifeblood of any successful house flipping business.  

Conclusion

We hope we have shown that it is not only possible but also a great idea to flip house part time depending on your situation.  

If you choose to flip houses part time though just make sure you are giving your part time house flipping business enough time and energy to ensure it’s a success.  

Want to learn more about flipping houses?  Check out our article on “How to Flip Houses for Beginners“.