5 Reasons Veterans Make Great House Flipperson November 12, 2019 8:04 am under Real Estate Investment Tips, Real Estate News
Flipping a house can be a very stressful experience for the average person, but for our men and women in uniform, it’s a perfect fit of skill and temperament. The hard work, dedication, organizational skills, and leadership experience gained as a member of the Armed Forces can be applied to even the toughest fixer uppers. Veterans don’t shy away from a challenge. We think veterans are perfectly suited to turning the most distressed property in a neighborhood into its new pride and joy. Here’s why:
1. Flipping A House Is Intense.
There’s probably nothing more intense than being deployed with the American military. Strict goals attached to a meaningful mission drive you forward 24/7. After living through that kind of an experience, a 9-5 desk job is most likely going to be underwhelming and unfulfilling. Many veterans say that their transition to civilian employment is difficult because their new coworkers find them overly intense.
While this intensity might be a liability in an office building, it’s a huge asset when it comes to flipping a house. Staying focused on budget and timelines without letting “life” get in the way is the clearest path to house flipping success. Veterans know how to prioritize time and focus energy to accomplish any mission.
2. Flipping a House Requires Nerves of Steel and a Calm Attitude Under Pressure.
Have you ever seen a civilian react when the basement floods? How about when the tile is the wrong color? It’s not pretty. In contrast, veterans bring a level head and action-oriented attitude to unexpected setbacks. By approaching setbacks as problems-to-be-solved in order to accomplish the mission, veterans keep emotional attachments and reactions from causing unnecessary delays or compromises.
We promise, there has never been a house flip without an unexpected setback. Whatever it is, it usually costs the flipper a large amount of time, money, and stress. By eliminating the stress reaction, veterans who flip houses lessen the amount of time and money they lose when the plan inevitably breaks down.
3. Veterans Are Great At Building Teams.
There are house flippers out there who hire contractors with whom they barely interact, and then there are the kind that build relationships with the contractors, eventually building a team atmosphere among everyone who pitched in on the home. Can you guess which type is more successful and more likely to be a veteran? That’s right! When the leader of a group of contractors has the skill to build a true team, magic happens. Deadlines get met, work is of higher quality, and specialists share profit-boosting ideas.
Not only does this team building skill help projects go more smoothly, it also sets up veterans to have continuous successes. Teams can wholesale be moved on to the next project and if you’ve successfully made them part of it, they will prioritize your job over other opportunities. Build a team that feels respected and valued and you’ll never be stuck without a contractor.
4. Veterans Hire Veterans.
Speaking of hiring, small business owning veterans are much more likely to mentor, train, and hire other veterans. Knowing that the transition back to civilian life can be a difficult one, having a mentor who knows what you are going through can be crucial to post-military success. By starting a real estate investment company, veterans can give back to their own brothers and sisters in uniform by hiring them as contractors. It’s a great cycle to start and continue.
5. Veterans Often Qualify for Discounts or Fee Waivers.
As an offering of gratitude for their service, many businesses offer reduced rates, bonuses, or waived fees to veterans. From discounts at home supplies stores, to special contractor rates, to waived loan application fees, these financial breaks add up and can contribute to a large increase in the profits from a real estate investing project.
At RFG we love working with veterans. The hard work and motivation that they bring to their house flipping projects is inspiring. We are honored to help veterans find success as civilians and transform communities while simultaneously helping other vets.
***If you are a veteran, please call RFG to find out how RFG shows its gratitude!***