This guy I know, well, I know him because he’s the one who used to own my house, but anyway, he keeps me around to do computer work for him. And I do it. And I get compensated handsomely, despite me telling him I don’t really need the money. Well, anyway, I was at his house the other night doing computer stuff and he and his GF were having a conversation in hushed tones. But I was right there beside them, and I was the only other one in the room, so I don’t know exactly why they were talking like that. Except, I kinda do.
But let me first say this about the guy. He’s successful. Quite so. He runs his own business in a subset of an industry where there is little to no competition and he is sought out for that skill and expertise. He’s down to earth, but at the same time, he’s got plenty of money to spend. You name it, he’s got it. Boat, Corvette, camper, truck, huge house on a large plot of land, huge TVs everywhere. Just got a divorce and is swallowing multi-thousand dollar alimony payments without slowing down. Has someone who runs over right away when he has a computer problem and pays them much more than necessary.
And he’s pretty business smart. I mean, he has a very successful business of his own, but he also had the sense to buy the land his house was built on when it only had a couple of trailers on it. He now rents out the trailers and that pays his mortgage and then some. So, I guess you would say he’s a successful landlord as well.
But now, in whispers, he’s talking to his GF in front of me about an opportunity to become a house flipper. He has heard of an opportunity to buy a distressed house and he thinks he can flip it without investing any time or effort and learn how to do it correctly. He may be right or he may not be. But when I hear, “I just want to be the middleman”, it kind of rubs me the wrong way. Maybe he’s been watching too much Flip or Flop. Maybe he’s been inspired from stories from his GF (who’s a property appraiser). Maybe he’s just got too much cash lying around (what a problem to have).
The thing is, experts say that when the rabble starts acting like experts, it’s time to make for the exits. I’ve been reading stories about the increase of flipping and I’ve seen the HGTV shows that are promoting this more and more. It doesn’t seem like it was that long ago that we were here. But here we are. I’m going to have to get myself prepared for this.