How to flip homes for millions: “Ready to work”

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How to flip homes for millions Ready to work

Maria Friström, 43, went from physical therapist to communicator in Silicon Valley. But when she was in the middle of her career in the American tech mecca and working 80-hour weeks, she decided to change course again.

She then began to invest wholeheartedly in flipping homes – something she shares on her Instagram account @marialovesrealestate and in the new series “The Housing Flippers”.

– Flipping is a real estate investment strategy where an investor buys a property, usually at a discounted price, with the intention of renovating or improving it and then selling it for a profit, she explains to News24.

Maria, 43, has flipped homes for 50 million: “Freedom”

Can anyone flip homes?

Since then, Maria Friström, who was born in Turku, Finland but grew up in Stockholm, has flipped homes for just over SEK 50 million in both Finland and the USA.

But can anyone really flip homes? The answer is yes, according to Friström.

– You don’t have to do it alone. You need one of three things: Time, money, or knowledge. With what you have, you can offer value to a partner who possesses what you lack.

– One should also be okay with the fact that things never go exactly as planned. That is, be okay with not having full control. And ready to do the job. Property investment is simple, but not easy. It’s not easy, quick money. But the most important thing is “daring to dare”.

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Maria Friström. Photo: Niki Strbian

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Maria Friström’s advice to those who want to freak out

For those who want to try flipping a home, Maria Friström gives five pieces of advice:

  • Become great at a skill that you can offer as added value to an experienced real estate investor in return for learning from him. For example, finding deals, carrying things, renovating, project management, editing videos. Everyone needs social media help these days.
  • Educate yourself. Read books on real estate investing, such as “The book on flipping houses” and “The book on estimating rehab costs” by J. Scott, “The millionaire real estate investor” and The one thing” by Gary Keller“Retire early with real estate” by Chad Carson. Listen to podcasts such as “Fastighetsprinsen” and “Bigger pockets”.
  • Write a plan. Why do you want to start investing or flipping? What are you willing to do for it? How are you willing to change yourself and your daily routines to achieve it? What are you not willing to do or risk?
  • Spend time with people who are doing what you want to do or are passionate about what you are passionate about. If you don’t know anyone yet: can you start a group that wants to learn together?
  • Dream big, start small. Make sure you have multiple exit strategies on your first deal. If you don’t get it sold, does the business case hold for keeping the item on rent? Short term rental?

    • Photo: Niki Strbian

    At the same time, Friström also emphasizes that there are several challenges when it comes to flipping, especially when it comes to factors over which one has no control.

    – Such as shifts in the market situation, political risks, capital risks. You have to be okay with focusing on what you can influence.

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