(FinancialHealth.net) – If you want to get into flipping but aren’t ready to invest $100,000 or more into a house, RV flipping might be for you. Recently, a stay-at-home mother of five made news for doing just that.
Michigan resident Sarah Lemp says she’s made $22,000 by flipping 10 RVs. Sarah’s not the only one getting into the flipping business. Great American Country has a show, “Flippin’ RVs,” that follows a husband-and-wife team that does the same thing:
People who buy houses and renovate them to sell later have seen their profits decrease in recent years. RVs are a great alternative if you don’t want to invest a lot of money but still want to try your hand at flipping.
Interested? Here are some tips to take with you on your new business venture:
- Use Facebook Marketplace as one of the venues to buy and sell RVs.
- Search YouTube for DIY videos when you aren’t sure how to fix something.
- Don’t forget your local library has plenty of free renovation and DIY books.
- Start a blog and try to partner with paint and other supply companies by featuring or reviewing them on your website.
- Shop around and check out reuse stores for discount building materials.
- Create a renovation budget and stick to it.
You’ll want to do some research and create a business plan before you get started. Like with any business, preparation is the key to success. You might not get rich from this, but you can create a nice nest egg for yourself.
~Here’s to Your Financial Health!
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