Stories of trouble in the housing market are as common these days as stock market trends. Between AirBNB hosts buying up and renting out a good portion of single-family homes and rental corporations buying up houses for cash, it’s difficult for many to imagine being able to buy a home. Still, there are some who are out there not only buying condemned houses on the cheap, but then turning around and selling them for massive profits after a little bit of renovation.
Flipping for a Profit
House flipping, the process of renovating a home to sell it for a profit against what was invested in it, has been a practice for decades. As mentioned, there has been a lot of buzz around the practice of massive corporations buying out single-family homes so that they can rent them, but little discussion of individuals working to flip homes.
The concept has made its home on a surprising platform, though: Tiktok. Many individuals post videos of various projects that they’re doing on their home in order to improve it, and there are even groups of real estate agents and investors doing their best to debunk myths around the housing market and flipping.
Some are Out to Scam, But Most are Genuine
As there always is on a popular platform, there are some who go out of their way to make house flipping sound like an easy and profitable “side hustle.” Some accounts boast that you can buy houses at auctions for hundreds of dollars, flip them for pennies, and sell them for massive profits after the fact.
Of course, many of the people selling these wild claims are grifters, trying to sell an idea to a vulnerable audience looking for a solution to a challenging housing market. There are those that are genuine, though, wanting to educate their audience members and create a community of DIY-er’s who are passionate about houses.
Debunking Myths about Real Estate
One such account, TwoGuysTakeOnRealEstate, goes out of their way to debunk common housing myths and give information on how to purchase a home and get a best deal. While they do have some videos where they post about purchasing homes at foreclosure auctions and renovating them for cheap, the majority of the account seeks to educate.
They go into confusing terms in the real estate market, as well as make videos about different types of loans and how to qualify for them. Real estate and mortgages are admittedly confusing, and this account seeks to help its audience demystify some of the process of not only qualifying for a home, but ultimately purchasing one.
Flipping Gone One Step Further
Flipping houses as a side hustle has grown massively in popularity, despite what can be a challenging barrier to entry. In fact, some people, inspired by accounts like TwoGuysTakeOnRealEstate, have even gone so far to not only look into flipping homes personally for extra money, but to go a step further and get a license to practice real estate.
A real estate license makes the hustle of flipping homes that much more profitable. When you sell a home, you hire an agent to list and show your home, and then pay them a percentage of the profit when it ultimately sells. By doing it yourself, instead of paying an agent a commission, you get to keep all the profit.
Where There’s a Problem, a Solution Arises
The process of becoming a real estate agent can be, admittedly, a little confusing. Every state has different requirements for education and on-hands work, and there are some companies that have sprung up in order to make the process of becoming a real estate agent a little easier.
One such company is Agent Real Estate Schools. The company started back in 2013 with the goal of helping make a real estate career in California more achievable, but has since expanded to include in-person and online courses all across the country. They help unlicensed people with every step, from education to getting their first clients, making them an ideal option for anyone looking to become an agent.
A Flipper Who Got Their Bag on Tiktok
While some seek to create real estate businesses on Tiktok, there are other accounts who seek to create a community with their audience and let them have a say in renovations that are being conducted. One such account ran by Cori Bosco, under the handle EastCoastDIY, went viral in 2021 for her home renovations projects that she worked on while her husband was on deployment.
Cori shared every aspect of the home renovation, including her four children in the videos and connecting with her audience in a real, authentic way. She quickly gained 5.7 million followers, and the success of the account was so sudden that she was able to quit her job in December of 2021 and become a content creator full time.
Her Hard Work Destroyed, But a Blank Slate Left
Cori was able to finish her renovation on her home in time for her husband to complete his deployment in February 2022, and her projects blew up in a big way. She was featured on Rachael Ray and The Drew Barrymore show, and her videos were so popular that she as able to close sponsorship deals worth up to $35,000.
All of her hard work was ruined when her Florida home was hit hard by Hurricane Ian. The water flooded the home up to three feet in places, and though Cori and her family were safe, her DIY work was destroyed. She stayed positive, stating that they could build back better than before, but it was still a devastating blow.
Looking Back a Century…Or Two
There is also a corner of Tiktok that seeks to show how renovating old houses can work, particularly ones that are condemned. It’s become a popular trend to showcase houses before and after their renovation, and discuss the choices every step of the way.
Videos of houses from the 19th and 20th centuries being renovated and updated can rack up thousands of views, and tons of engagement. While this is wonderful for the content creators who are seeking to create a community, there is another perk that is specific to Tiktok that isn’t spoken about as much.
The Creativity Program Funds Creators
Tiktok has a feature called the Creativity Program, where accounts that meet certain requirements can earn money from views and engagement on their videos. In this way, house flippers and renovators can earn money on their videos and their work even without selling the home itself or closing brand sponsorships.
It’s not as sensational a tag line as buying a home for hundreds and selling it for tens of thousands, but it is a way that many of these content creators are bringing in some extra cash to help pay their bills. Slow and steady wins the race, and these may be the creators left behind after all the flashy flippers move on to the next big thing.
A Hustle, But Also a Community
Everyone is looking for ways to “hustle” and make extra money in the age of the internet. House flipping one of the newest methods that both genuine folks and scammers alike are trying to capitalize on. Many people are trying their hand at flipping, and documenting their journey on social media.
While not everyone is making money trying the trend, it is an incredible way to connect with other people. For those whose most important value is community, the flipping trend holds more value than what can merely be seen in the dollar signs that can be earned.
