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Im still in high school but I’ve been thinking about what I want to do in my life.

I would love to buy houses and remodel them either for resell or to rent. I would like the houses to be in a high tourism area and rent them weekly,
Is there any particular name for this?
Could I be pretty successful doing this, once I get started?

My Dad is a commercial & residential contractor so I know about all the licensing and permits.

Also, what kind of higher education would be a good idea?

2 Thoughts on Can you make a full time job out of buying, remodeling and selling/renting houses?
  1. Reply
    the kid
    October 28, 2011 at 3:55 am

    You can, if you have LOTS of cash (especially since you are so young and won’t qualify for a mortgage) to start up with and the market is good. Unfortunately, the market sucks and I am guessing you don’t have the couple hundred grand to start out with.

  2. Reply
    Rainnelor
    October 28, 2011 at 4:08 am

    Well…I wouldn’t start with something that costs a couple of hundred grand the first time out. 🙂 You definitely should choose a very small house that has no structural damage, so that most of the renovating would be replacing appliances and cosmetic fixes.

    That is called ‘flipping houses’ if you aren’t familiar with the term, and the person above me is correct in saying to be successful the market must be good. The reason is apparent…you purchase a house so you have a monthly mortgage payment to the bank…you want to renovate the property at break neck speed…and then you need it to sell or rent quickly. Every month that it DOESN’T sell, you are sinking $ 900 to $ 1500 (or whatever) into it that you can’t recover. If you don’t find renters you are not offsetting the mortgage payment with monies received as rent, so again, you are losing money as the clock ticks.

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