Flip Houses Like a Girl

A Mother of Three Turns Her Passion for Homes into a Successful Flip Business

• The FlipSisters • Episode 125

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What happens when a busy working mom of three decides to pursue her longtime passion for transforming homes? Ee's remarkable journey from complete beginner to successful house flipper proves that with determination, community support, and the right mindset, anyone can make their real estate dreams a reality.

After joining the Flip Sisters community on what she jokingly called a potentially foolish April 1st, Ee faced months of rejected offers in her expensive Portland market. Rather than give up, she pivoted – expanding her search to Cincinnati, Ohio where she secured her first deal within just one month. Managing a flip remotely might sound intimidating, but Ee built a reliable team on the ground, creating a partnership based on trust and communication that allowed her to successfully navigate the entire process from thousands of miles away.

Despite encountering unexpected challenges during the buyer's inspection, Ee maintained her composure and problem-solving approach. She purchased the property for $93,000, completed renovations just under her $57,000 budget, and sold it for $200,000 – walking away with a $20,000 profit on her very first flip. Even more fulfilling was knowing she'd provided a growing family with their perfect home, aligning perfectly with her deeper motivation for entering real estate.

Ee's story resonates because it's honest about both the obstacles and triumphs of house flipping. She openly shares her moments of fear and self-doubt, revealing how self-talk, community support, and focusing on her "why" helped her develop the resilience needed to succeed. For anyone wondering if they have what it takes to flip houses while balancing other responsibilities, Ee's journey offers a resounding yes – you absolutely can.

Ready to write your own success story? Schedule a call with us today at theflipsisters.com and discover how our guidance, coaching, and supportive community can help you take that first confident step toward financial freedom through real estate investing.

GOODIES

1. THE book on women flipping houses is here! Click here to grab the digital download of my new book for just $4.99! Just as everything else we do is different, so is FLIPPED: Lessons and Stories of Women Flipping Houses and Facing Their Fears.

2. Sick of sitting on the sideline watching other people do the thing you want to be doing? Are you FINALLY ready to do what it takes to flip your first house and want incredible step-by-step training and support to get you there faster? Click here to see if we may be a fit to work together.

3. Follow That Flip! Follow this 8-part video series as we flip a house!

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The Flipsisters
Leaving people and places better than we find them.

Speaker 1:

You're listening to the Flip Houses Like a Girl podcast, where we educate, empower and celebrate everyday women who are facing their fears, juggling family and business, embracing their awesomeness and wholeheartedly chasing their dream of flipping houses. Each episode delivers honest-to-goodness tools, tips and strategies you can implement today to get closer to your first or next successful house flip.

Speaker 2:

Welcome back to Flip Houses. Like a Girl, I'm Sis Donnelly, real estate investor coach and proud Flip sister for nearly six years now. You are going to love today's conversation because if you've ever wondered what happens when someone truly trusts the process and follows the steps, this episode is your answer. Our guest, e, is a textbook example of what's possible when you show up, do the work and lean into the Flip Sisters framework. She stuck to the plan, kept her mindset strong, came out on the other side with a solid $20,000 profit on her very first flip. Her journey is inspiring, encouraging and proof that you don't need to have it all figured out. You just need to start and trust yourself along the way. Stick around through to the end to see how E navigated the ups and downs, what she learned and how our community helped her stay focused and confident every step of the way. Let's jump in.

Speaker 3:

Well, my name is Yi Chong and I am from Portland, oregon. I have three sons, ages 17, 9, and 1 is turning 5 today. Oh wow, I also work full-time as a recruiter for a power company, and my life is always like on the go. There's never really a downtime. My husband works full-time too, so we're just both tag-teaming each other all the time, and that's my life here in Portland.

Speaker 2:

Yeah, so you're a busy mom working a full-time job. Yes, okay.

Speaker 3:

Yep, and started this side business almost, maybe a little over a year ago. Yeah, okay, yep, and started this side business almost maybe a little over a year ago.

Speaker 2:

Yeah, so you were just telling me about that, tell, let's tell our listeners about that again. You joined on April 1st and you felt like it was an April Fool's.

Speaker 3:

Yes. So I've always loved homes. I've always want to turn something broken into something that is, you know, still a good use to someone, or maybe a community, and so and I love just watching making homes better than they are. So this was like several years ago. I just never got around to it because of life, kids and work. And so when I came across the Flip Sister program, I looked into it a little bit more and I love that it's a woman community and that I love that there's women in the community that's never done this before and they just jump in with both feet and they go and the support that they give each other.

Speaker 3:

And so I decided to sign up and have a conversation, and it turned out to be something that I think that I really can be a part of, that I see myself thriving in, and so that all happened. And the day that I signed up was on April 1st, on April's Fools, and so I was thinking to myself am I fooling myself? But that day is important because it is truly the turning point of me doing what I love to do and what my true passion is for so long. So that is a big day for me.

Speaker 2:

Yeah, yeah, that's so cool. I love that. I love that you can take that. Am I fooling myself? Is this really real? And now you've turned it to, that was the turning point for me. That was when it made this all real. My dream is starting to come true. Yeah.

Speaker 3:

Yep, yep, for sure.

Speaker 2:

So okay, so you were paired up with Coach Blair for your one-on-one calls and you went through the coursework and all of the things and then you started making offers on properties. Went through the coursework and all of the things and then you started making offers on properties. Tell us about the property that you flipped that we're here to hear about today.

Speaker 3:

We want to know all the things about it. Yes, so I started looking at properties in my hometown and so everything was just so expensive in Portland I think a lot of ladies can relate to that and the competition is also pretty, pretty tough. I was getting outbid a lot and then offers weren't just accepted because I was the seller, just wasn't interested in my offer, but then the number. I had to make an offer based on the DA. Just because I'm so new at this, I don't want to make a big mistake and then be out of the game all of a sudden. So I tried for probably about four or five more months in my hometown, just kind of keeping my eyes out in the market what's out there. I connected with an investor-friendly realtor and she helped me write the yellow letters as well, and then getting lists from the county just a different list that we can tap into along with keeping my eyes on the market, and it just kind of continued to where my offers weren't being accepted and I just wasn't getting anywhere.

Speaker 3:

Like five months went by. I decided to branch outside of Oregon and I was also part of just some network of outside of the Flip Sister community, more local, of other people that are like-minded, and they suggested that I look in the Midwest. So they threw out a couple of states that I started looking into. So Michigan was the first one, detroit, michigan. It was pretty volatile. I quickly found that out and my lender actually told me that, hey, this is your first time flipping. If I were you, I probably wouldn't, you know, work in this area. It's very, very different and one side of the neighborhood can be completely different from the other and there's. And so he just gave me a bunch of like advice, which I can appreciate, because a lender who takes the time to kind of watch out for you, if you will, I appreciate that.

Speaker 3:

And so a month goes by. I decided to look into Ohio, which is another recommendation from the network and the people that made these recommendations to me. They have connections that I can tap into. So I connected with a realtor in the Cincinnati area and she was also an investor-friendly real estate and helped me put out offers and within a month I got an offer accepted. So I went through a very long journey to get there, but I didn't give up. I knew that I needed to expand my network. I knew that I needed to step outside of my comfort zone because, being a first time fix and flip person and trying to do this remotely, it was really scary.

Speaker 2:

And I love what you said about your lender looking out for you, right? So we talk about that all the time. Our lender is another team member. They are another set of eyes on our deals. They're there to protect us, too, right? Yeah, I mean, that's awesome that you had that relationship with them and they were able to help steer you in a different direction.

Speaker 3:

Yeah, yes, yeah, and not that I couldn't do it in Detroit, it was just that, being that it was going to be my first one, probably save that one for later, is what they were saying.

Speaker 2:

Yeah, yeah, great advice. So this house was on the MLS or it was a wholesale deal or it was off market, but where was it?

Speaker 3:

Yeah, it was actually on the MLS and it came on my radar before my realtor showed it to me, so I connected with her quickly and that's how we got the deal rolling.

Speaker 2:

Okay, okay. So all the things tell us how the flip went. Was it smooth, perfect sailing, Was there any hiccups? What did you experience during that?

Speaker 3:

Yeah. So once I got under contract I was super nervous but then excited at the same time. I couldn't believe it was happening. But I just had to kind of, like you know, pull myself together and go okay, well, you know, now it's time to really take some action. And my realtor, she has a great database of just people that she's connected with, like general contractors, subcontractors that she was able to, yeah, referrals that she was able to let me tap into. So we have a general contractor that walked the property and came up with a bid.

Speaker 3:

And at that point I decided my realtor was saying, because she's my eyes and boots on the ground, and so she walked the property and she's like we're going to, we're going to be fixing a lot of things in the home anyway, and she recommended, or suggested, I would say, if I want to waive the inspection. And so I did. The GC walked the property and and they were like, yeah, he, he's pretty used to, you know, know, doing the inspections piece and and can get a good rehab budget together for us. So I went with that option and we found some things that needed to be repair that went just a little over the number that we thought it would be for rehab, and so we went to the seller and negotiated the. The listing price at $100,000 and we negotiated down to $93,000.

Speaker 3:

And at that point we weren't sure if the seller was going to accept it. But the next day my realtor reached out to me and said that they accepted it. So that's when it became real. And the Boots on the Ground, team man, they are just ready to hit the ground running. They. They started the project and almost immediately, I want to say they wanted to start that same week, but I had to secure some fundings for the rehab budget and so I asked if we can start the following week. But that just made me feel really good about how motivated the team is. And I'm not even there to, like you know, really keep an eye on everything at all times, and so just knowing that I'm working with a really motivated team, it gives me some comfort, being so remote to the project.

Speaker 2:

Yeah, yeah, it sounds like you've got a really fabulous team in place there, and I think that's a big part of the experience for a lot of us is, you know, having that good team in place, you know, when you've got people that you can count on and that you feel good about and you communicate well with, it just makes everything go a little bit smoother. Okay, yeah, yes for sure, all right. So purchase price was $93,000. What was your renovation budget to begin with, and timeline and ARV?

Speaker 3:

Yeah, so $57,000 was our rehab budget and our timeline. We were thinking three months and then we should be able to turn that around, turn the property around in three months and put it back on the market. And then the ARV. The lender actually came back to us with an ARV of way higher than we thought, but we were being conservative. We were like, well, we're going to become conservative, so it was at 200,000. That was our conservative number, I think. Our lender came back with 235 and we were like that is a huge gap, but sure.

Speaker 2:

And that's okay, as long as your purchase price and your renovation budget and all of those things are based on that more conservative number, right? So yeah, yeah, yeah.

Speaker 3:

We always lean towards the conservative side, uh, just since the beginning of the project. And so, yeah, that was the ARV. We were able to. We started the project, we started the renovation I want to say early November and the team just worked through the holidays. I was being mindful of, you know, family. I know it's getting towards the end of the year and they want to be with families, and then there's weather conditions that came into play too, and so I was keeping all of those in mind and just checking with the team, like on a weekly or biweekly basis, and they're pretty good about that. They would send me pictures and videos or just, you know, answer quick text messages. So they were pretty communicative. So worked on renovating the project throughout the whole November, December and January, Wrapped up in January and then we went out back out to market early February.

Speaker 2:

Nice, so stayed within your timeline. How about?

Speaker 3:

my timeline.

Speaker 2:

I think you kind of mentioned earlier budget. Maybe went just a little over.

Speaker 3:

We actually stayed within budget because they were able to complete the renovation just under budget a little bit. But then we had some surprises during inspection when we had a seller interested in the property and we're under contract. There were some termite repairs that needed to be done. There were some foundation issues, but we had a foundation specialist come out and they passed it, so it wasn't a huge deal. Otherwise I think it would have added to my rehab budget. And the other one was we had to replace the water heater and then there were just some other miscellaneous ones that were smaller, but those were the two big ones that stayed with me. And yeah, even after getting all of those repaired for the potential buyer, because we came under budget by a little, it didn't put me over the 57 that we originally had planned for.

Speaker 2:

Yeah, with your buffer and all that in there. Okay.

Speaker 3:

Cool, definitely with the buffer.

Speaker 2:

Nice, sounds like a really well-managed project. So you had a few surprises with your repairs, with the inspection I know you mentioned because in our Facebook group, in our community we always post those post-deal analysis and in yours you kind of mentioned that you definitely would have gotten the formal inspection, like when you purchased. Yeah, do you think that would have saved some of those repairs on the end?

Speaker 3:

Yeah, do you think that would have saved some of those repairs on the end. I think so. Well, I would have ended up fixing it anyway. I wouldn't have gone back to the seller at that time to take care of. So I think it would have been within the budget. I think I would have had a higher rehab budget. Knowing those things up front, I think, kind of feeling I felt like I was kind of well, it was a surprise and I initially, when I heard that we had to go back and fix those things, I was my my head just immediately went into like worst case scenario, like what if it's like $20,000 more? And I did not plan for that and you know, it just kind of spiraled from there. So there was a moment of heart attack there.

Speaker 2:

Yeah, yeah, and I think that's totally normal. That's a normal reaction, especially when you haven't done this before and you're not super familiar with like prices and costs of repairs and things like that. It automatically, especially when you hear things like foundation and water heater and you know things like that. It automatically. Especially when you hear things like foundation and water heater and things like that, we sort of immediately rush to that panic state instead of finding out okay, well, how much is it going to cost before I panic. I think that's really normal.

Speaker 3:

I've been really on my team this whole time to just help me with decisions and provide options and so my realtors my realtor. She became IPM also so she was really quick to find people within her network to get us quotes and we got some good bids that came in and was able to make it work with our existing budget fully and closing just got delayed by maybe a week, but it wasn't terrible, not bad.

Speaker 2:

Not bad. Okay, so then final sales price. Did you come in at the $200,000? Where did you land there?

Speaker 3:

Yeah, we came in just $205,000. That was the sold price, but the $5,000 was really to give back to the seller to help with their closing costs. Okay, so you came in right at your $200,000.

Speaker 2:

Yeah, I did so. You were accurate on your ARV projections there. That's awesome. Yeah, yes, Okay. So what was your favorite part of the entire flip process?

Speaker 3:

My favorite part, I'd have to say, would be connecting with people like just people. That includes my team, like my realtor, my GC, all the subcontractors that were referred to me to help with the renovations, and the seller the seller that sold me this first flip. They wrote me a letter when we closed, and it was a heartfelt letter, saying that this home is really special to them and that it's been in their family for decades and they hope that when I renovate it and if I plan to live in it, that they hope I really enjoy it. But then if I'm going to renovate it and sell it to another family, then they hope that that family would enjoy it as much as they did. It held a lot of memories for them, so that was really special and that letter is going to be part of my portfolio for this flip project for sure.

Speaker 2:

Yeah, yeah, that's amazing. It really is amazing. Homes hold such a important part of our lives right and to have them reach out to you like that and to have you recognize that and not just, you know, kind of throw the letter in the file X, you know, and forget about it, to really take that to heart. I think that speaks a lot about how you do business and how you care about people in the end, because it's people first, right, always people first.

Speaker 3:

Always people, yes. And then I mean, if you take care of that, then everything just kind of comes into place.

Speaker 2:

Absolutely, I agree. You put good out into the universe and good comes back to you. A hundred percent. Absolutely, I agree. You put good out into the universe. Good comes back to you 100%. Did you have any limiting beliefs or mindset obstacles before or during the flip? Like where was your mindset at when you were going through the whole process of getting your first flip and being in your first flip?

Speaker 3:

Yes, the mindset it was definitely scary. I mentioned that a couple times already, yeah, but I think that because I'm part of this community and I'm seeing, like, what other people have gone through and then and then, how they made it through all of their obstacles and and then the end result, it was just really inspiring. So I had to, I have to kind of rely on those stories that I read on within the community and there were times when I had to reach out to my realtor just to make sure that she has what she needs to get the project done and that if I'm feeling nervous about it I would tell her and then she would give me maybe more information that's happening on her end that I might not be privy to to calm my nerves. So she definitely knows my style and you know the types of questions and worries that I have on my end and that's why it's been such a great you know relationship working with her. You have to just kind of get each other and know how each other works and and keep each other grounded. So she was definitely a the rock throughout my journey, as well as the Flip Sister community and and then just having family be a support in the background as well.

Speaker 3:

I mean, the LLC is my. I have an LLC set up for for this and I'm the only one who's kind of going through this in the family, so they would hear a little bit here and there, but they're not really going through the journey with me, so they're kind of in the background just being a cheerleader. So all of that really kept me going. But I think the most important part is I think the most important piece is is is me Like I do a lot of self-talk to remind myself why I'm doing this and that this is my passion and that I'm capable and that I get, I'm bound to run into challenges, and that's just. That's just part of the game. It's it's how you show up when those things come up, how you work through it and how you respond to those situations is what matters. So did a lot of self-talk.

Speaker 2:

Yes, yes, I cannot cheerlead enough on that point. So my dad, papa Don, as we call him, has told me from the time I was really, really little that you can't control other people's actions and you can't control the world around you, but you can control how you react. You can control that. So having that self-awareness, I mean that's such a great skill it really is. That's really an amazing skill that you've got developed there.

Speaker 3:

Thank you.

Speaker 2:

Yeah, yeah. So what do you think if you think back across the entire flip? Is there anything that you wish you would have done differently?

Speaker 3:

Yes, I think I would have not used so much of my own personal fund just because I felt like I kind of put myself and my family in a tight spot. So, like the gap fundings and it was mostly the gap fundings I had used my own personal fundings and I wish I would have hindsight. I wish I would have maybe asked for a PML.

Speaker 2:

Yeah, because you used an HML for the purchase and the closing costs and the rehab and then used your own private funds for the gap, those carrying costs, utilities insurance, that kind of thing.

Speaker 3:

Yes, Okay, yeah, it was like making two mortgage payments and paying for two utility bills every month for three to four months maybe even five months, and so that that was pretty tight, and I would probably not do that again if I don't have to.

Speaker 2:

Yeah, yeah, I think, and I think that's a normal like. I think we normally, if we have the funds, jump to funding ourselves because it feels safer for some reason, when you know the reality is we're actually offering opportunities to those around us to make money, to make a better return than they can make in the stock market, right? So, yeah, that's another, another little mindset piece. I think that all of us kind of go through at one point or another.

Speaker 3:

Yeah, for sure, yeah, but that's what I would do. Okay, next time.

Speaker 2:

Yeah, yeah. So I was looking back at your onboarding questionnaire that we always ask you for when you first join. I was just going to pull it back up here, but I wanted to read a couple things off here for you. One of the things that you said when you answered the question what would you like to contribute to the world? You said in my current line of work, I help people find a career or next steps, and I'd like to continue down the path of helping people, but possibly in a different capacity, such as providing them with a wonderful home to live in. A home can provide stability, security, warmth and love. It would be amazing to be able to give that to people. So I want to know do you feel like you've accomplished that?

Speaker 3:

Yes, especially within my first flip. I feel like I definitely did that, because the buyer that purchased the flipped home it was a family who is looking to grow and it was a small home and it was perfect for, like a first time home buyer, a small family, and that's exactly who had purchased the home. So I'm really excited to have passed that on to another family. Yeah, so I feel like I did just that's awesome.

Speaker 2:

That's amazing. That's so cool. I love seeing people come into our group with no experience and coming full circle and being able to reach those goals that they set down for themselves. So that's that's an awesome story, is there?

Speaker 3:

anything for reading that, thank you for reading that. Thank you for reading that. I had forgotten about that. Those questions at the beginning.

Speaker 2:

Yeah, yeah, absolutely, absolutely. What do you see for yourself?

Speaker 3:

moving forward. Well, it's on to the next and it's just kind of keeping my eyes out for deals, making offers and continuing, you know, the partnership with my team. I know they've reached out to me a couple of times asking when my next one is going to be, and so I know they're excited to work with me again, which is it makes me feel good. I'm still looking in the Cincinnati market, but I'm also keeping my eyes in the Portland market now, just because I eventually want to bring it back home and be closer to the project and maybe be more involved instead of a remote investor, if you will. So that's kind of where my head is right now, but definitely looking for the next deal and going from there.

Speaker 2:

Great, I love it. I love it. You've got such a great story and thank you so much for being here today and sharing that with us. Is there any final thoughts that you would like to share today that you didn't get a chance to talk about?

Speaker 3:

I don't think so. You asked really great questions. I just want to say that I truly love this community and I wouldn't have I wouldn't be here today if I didn't have this community and the support, and I want to encourage other sisters, flip sisters in the community to continually share their questions. I learned so much from each one of them that poses questions out there and the stories that they share. You know challenges and wins all of it. They all matter and I want this community to keep growing because I know that we can thrive together for sure.

Speaker 2:

We're definitely better together. A hundred percent. I agree with you there. Well, thanks for being here with me today. It was great talking to you. I love that I actually got to meet you in person and I'm really looking forward to hearing more from you in our community. So thanks, so much, thank you so much.

Speaker 3:

Yeah, thanks for inviting me.

Speaker 2:

Signed, sealed, delivered. A big, heartfelt thank you to Eve for showing up with such honesty and trust today. Her willingness to be coachable, to stay open and to fully embrace the process is exactly what makes stories like hers possible. She walked into her first flip, leaned into the fear and walked out with just under $20,000 in profit. And the best part, she's already fired up and looking for her next deal With Flip Sisters. You don't have to figure this out on your own. Our guidance is second to none. We've got a team of experienced, passionate, one-on-one coaches ready to walk beside you, helping you build real confidence, face those fears head on and take that leap of faith. This community is all about support, no judgment and standing strong together as you go after what you really want, no matter where you're starting. So if you're feeling the nudge, don't ignore it. Schedule a call with us today at theflipsisterscom to see if we're a good fit. Your next chapter might just start today. Let's do this together Until next time. Flip Sisters, you've got this and we've got you.