How To Supplement Your House-Flipping Income

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You want to start flipping houses (or maybe you already are) but larger projects can take months to complete — which means payday could be months away.

In today’s article, you’ll discover how to…

  • continue working in the real estate industry
  • network with future customers and build relationships
  • pickup some valuable industry skills
  • AND get some regular cashflow into your business

You can do all of that while simultaneously expanding your real estate investment business.

Become a Mobile Notary

Let’s face it, being your own boss is awesome. You get to decide when and where you work. If you can do that without the overhead of a brick-n-mortar office, you’ve pretty much got the best of both worlds.

People love (and sometimes need) to pay for convenience. Case in point, I had some loan docs that absolutely had to go out one Friday afternoon — only I was half an hour away from the nearest FedEx location (which was closing in an hour) and my staff notary was out of town. I called 4 notaries (the first 3 being closed for the day) before reaching a mobile notary.

With roughly 30 minutes to spare, I arrived at the FedEx location and before I could break a sweat, my docs were signed, sealed and on their way to the recipient. My cost for the mobile notary was $75 and — with a $2M project hanging in the balance, it was worth every penny.

How do you become a notary? It varies from state to state but you’ll likely take a short course and then contact a bonding agent — who will likely provide everything you need including your application, state fees, bond and notary seal.

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3D & Drone Imaging

If you’re into tech and like the idea of doing fun things with it — that you get paid for — you might look at picking up some cool new tech gear. Let’s talk 3D and aerial photography.

3D videography enables prospects to do a virtual walkthrough of a home. It requires some special gear and a taste for technical finesse.

Real estate agents will pay anywhere from $100-$400 (depending on the size of the home) to get a 3D image of a home they have listed.

The process is super simple and you don’t have to hassle with anybody. You show up, use the lockbox to gain access, setup your camera in the first room, walk out of view and scan the room. Then you move on to the next room, and so on.

You’ll be in an out in an hour for most houses and you can use an app to keep track of everything and ensure all the images get stitched together nicely.

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Matterport pretty much owns the industry — but their price includes all the tools you’ll need for professional walkthroughs. If you want something a little more budget-conscious, take a look at the Insta360.

Speaking of cool new gear, drone videography and photography just go hand in hand with 3D virtual tours. Drones let prospective buyers get a larger than life view — and the aerial content is great for marketing.

The only thing you’ll need to watch for (besides power lines! LOL) is that you’ll need a remote pilot certificate (Part 107 certificate) which is basically a drone license. It costs $150 and yes, there’s a test.

A decent-quality camera on a drone that has professional features, is going to cost over $1,000 — so a lot of agents prefer to just hire it out. You can get $100 per property.

My favorite drone for aerial videography & photography is the Mavic 2 Pro. Trust me, get the ND filters, charging hub and Fly More kit. You’ll get much better results and, well…fly more!

DJI Mavic 2 Pro (20 MP Hasselblad Camera) with Smart Controller and Fly More Kit Ultimate Bundle (3 Batteries, ND Filters, 128 GB Extreme Card, Charging Hub and More)
(More Info)

Now, the money is great — but the reality of this business is that you’ll find yourself rubbing elbows with a lot of real estate agents and other professionals.

Become a Home Inspector

If you’re into remodeling and such, there’s a good chance you already have to do the work required to inspect a home. You’ll have to take some classes in order to be a licensed inspector but once again, you pretty much set your own schedule.

Being a home inspector has a plethora of additional benefits. First, you’re likely to be introduced to not only real estate agents, but homeowners as well — home owners who may want an addition or remodel at some point.

It’s more than that though — as an inspector you’ll be paid well for your time — but you’re going to accumulate a lot of knowledge that will be extremely valuable to you as a real estate investor, as well as a remodeler. Before you know it, you’ll be mitigating risks in your own ventures — and saving yourself time and money.

Appraiser

Just like becoming a home inspector, real estate appraisal is more than just some extra income. It’s a legit career for many. As a real estate investor though, you’ll learn processes that will help you in valuing your own properties — and that will make your projects more profitable.

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Especially if you’re new to flipping, learning the skills of an appraiser can help you keep a steady flow of cash coming into your business — and also give you an upper hand when it comes to acquiring properties to rehab, as well as placing a competitive value on the finished project.

Conclusion

By expanding the services you offer, you can not only supplement your income and provide a steady stream of revenue — but actually build a valuable network of contacts that will directly grow your rehab efforts.

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Ken Walker

Ken Walker

Ken Walker is the Digital Editor of OPM Secrets. Having started in commercial construction right out of high school, he has since worked in every aspect of new construction from foundation work to framing, drywall, roofing, plumbing and electrical — as well as interior finish work, cabinet & countertop installation, windows, doors and siding.

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