The House-Flipping Trend Making Waves on TikTok

The House-Flipping Trend Making Waves on TikTok

Stories about challenges in the housing market are as common these days as discussions about stock market trends. With AirBNB hosts buying and renting out a significant number of single-family homes, and rental corporations purchasing houses outright for cash, many find it hard to envision owning a home. However, there are still individuals out there who not only purchase run-down properties at low prices but also refurbish them and sell them for substantial profits.

Making a Profit from Flipping

House flipping, the practice of renovating a property to sell it for a profit higher than the investment, has been around for decades. While there’s a lot of talk about large corporations buying up single-family homes for renting purposes, there’s less focus on individuals who are engaged in flipping homes.

Source: Pexels/Pixabay

Source: Pexels/Pixabay

The idea has found a surprising home on TikTok. Numerous individuals share videos of their home improvement projects, and there are even communities of real estate agents and investors working to dispel myths about the housing market and flipping.

There are individuals aiming to deceive, yet the majority are sincere.

On many popular platforms, there are individuals who strive to portray house flipping as a simple and lucrative “side hustle.” These accounts often claim that you can purchase houses at auctions for mere hundreds of dollars, renovate them inexpensively, and then resell them for substantial profits.

Source: TikTok/MikeandBo

Source: TikTok/MikeandBo

Certainly, many of the individuals peddling these exaggerated claims are scammers, attempting to sell a dream to a vulnerable audience seeking solutions in a challenging housing market. However, there are those who are authentic, aiming to enlighten their audience and foster a community of passionate DIY enthusiasts dedicated to housing.

Disproving Misconceptions about Real Estate

One notable example is the TwoGuysTakeOnRealEstate account, which goes above and beyond to dispel common housing myths and provide guidance on purchasing a home and securing the best deal. While they occasionally share videos showcasing the purchase of homes at foreclosure auctions and their cost-effective renovation, the bulk of their content is geared towards education.

Source: TikTok/Twoguystakeonrealestate

Source: TikTok/Twoguystakeonrealestate

They delve into the intricate terminology of the real estate market and produce videos explaining various types of loans and how to qualify for them. Real estate and mortgages are undeniably complex, and this account aims to assist its audience in unraveling some of the processes involved in not only qualifying for a home but ultimately purchasing one.

Taking House Flipping to the Next Level

The trend of flipping houses as a side hustle has seen a tremendous surge in popularity, despite the considerable barriers to entry. In fact, inspired by accounts like TwoGuysTakeOnRealEstate, some individuals have taken the initiative not only to explore personal house flipping for extra income but also to obtain a real estate license, furthering their involvement in the field.

Source: Pexels/Thirdman

Source: Pexels/Thirdman

Obtaining a real estate license can significantly enhance the profitability of flipping homes. When you sell a property, traditionally, you engage an agent to list and showcase your home, and then compensate them with a percentage of the profit upon sale. However, by managing the process yourself, rather than paying an agent’s commission, you retain the entire profit.

Where There’s a Challenge, There’s Innovation

The journey to becoming a real estate agent can admittedly be somewhat perplexing. Each state imposes distinct requirements for education and hands-on experience, leading to the emergence of companies dedicated to streamlining the process of obtaining a real estate license.

Source: Agent Real Estate Schools

Source: Agent Real Estate Schools

One notable company in this field is Agent Real Estate Schools. Established in 2013 with the aim of facilitating real estate careers in California, the company has since expanded its offerings to include both in-person and online courses nationwide. They assist individuals without licenses through every stage of the process, from education to acquiring their initial clients, making them an attractive option for aspiring agents.

A TikTok Success Story in House Flipping

While some individuals aim to build real estate enterprises on TikTok, there are accounts dedicated to fostering a community with their audience and involving them in renovation decisions. One such account, managed by Cori Bosco and known as EastCoastDIY, gained viral attention in 2021 for her home renovation projects undertaken while her husband was deployed.

Source: NYPost/Angela Barbuti

Source: NYPost/Angela Barbuti

Cori documented every aspect of the home renovation process, even involving her four children in the videos, creating a genuine connection with her audience. Her account quickly amassed 5.7 million followers, leading to such sudden success that she made the decision to leave her job in December 2021 and pursue content creation full-time.

From Hard Work to a Fresh Start

Cori successfully completed her home renovation project in time for her husband’s return from deployment in February 2022, and her projects gained significant traction. She was featured on shows like Rachael Ray and The Drew Barrymore Show, and her videos became immensely popular, resulting in sponsorship deals valued at up to $35,000.

Source: TikTok/EastCoastDIY

Source: TikTok/EastCoastDIY

All of Cori’s dedication was dashed when Hurricane Ian wreaked havoc on her Florida home. The flooding reached up to three feet in certain areas, causing extensive damage to her DIY projects. Although Cori and her family remained safe, the destruction was a heartbreaking setback. Despite this, Cori maintained a positive outlook, expressing her determination to rebuild better than before, yet the blow was undeniably devastating.

Reflecting on Centuries Past

On another note, there’s a corner of TikTok dedicated to showcasing the restoration of old, often condemned houses. This trend has gained popularity for revealing houses before and after renovation, along with discussing the decision-making process at each stage.

Source: TikTok/Krusefarmpropertydesign

Source: TikTok/Krusefarmpropertydesign

Videos showcasing the renovation and modernization of 19th and 20th-century houses can accumulate thousands of views and generate substantial engagement. While this is beneficial for content creators aiming to cultivate a community, there’s another advantage specific to TikTok that often goes unmentioned.

Empowering Creativity through the Creativity Program

TikTok features a program known as the Creativity Program, enabling eligible accounts to earn money based on views and engagement on their videos. This means that house flippers and renovators can monetize their videos and craftsmanship without necessarily selling the home itself or securing brand sponsorships.

Source: TikTok

Source: TikTok

While it may not boast the same sensational appeal as purchasing a home for a few hundred dollars and selling it for tens of thousands, the Creativity Program offers many content creators a means to earn additional income and cover their expenses. Slow and steady progress often proves to be the winning approach, and these creators may be the ones who endure once the flashy flippers have moved on to the next trend.

Beyond just a hustle, it’s also about building a community.

In today’s digital age, everyone is seeking opportunities to hustle and earn extra income. House flipping has emerged as one of the latest avenues that both genuine individuals and scammers are leveraging to their advantage. Many people are testing their skills in flipping houses and sharing their experiences on social media platforms.

Source: Pexels/Scott Webb

Source: Pexels/Scott Webb

Indeed, not everyone finds financial success in embracing this trend, but it serves as an exceptional avenue to forge connections with others. For those who prioritize community above all else, the house flipping trend holds significance beyond the monetary gains it offers.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *