Episode 103: How to Build a Flipping and Construction Business

Don't forget to subscribe, leave a rating and a 5-star review. I will be shouting out all 5-star reviews on the show!Darius & Courtney Pettway are returning guests to the Black Real Estate Dialogue, appearing in episode 26 over a year ago. They are real estate investors, developers and now they are even their own general contractors.In addition to their work in real estate, they also teach others how to invest in real estate and become their own boss. Plus, they have created KidVestors, a virtual, interactive, finance and investment curriculum that teaches K-12th money management and how to invest in Real Estate, Stocks, Cryptocurrencies, Entrepreneurship, and overall financial literacy in a way that any age can understand.In this episode we discuss how to manage the transition to becoming your own boss, how to decide if a flip is worth taking on and why they decided to become their own contractors.Highlights1) Your business is its own entity. It has its own needs to stay afloat. Not only should you be generating enough revenue to sustain and grow your business, but also replace what you were making to sustain your current lifestyle.2) People only think about purchase price renovation and sale, when taking on a flip. You have to remember those extra costs: the insurance you're paying monthly, the electric, the gas, the water, and interest, especially if you're borrowing money.3) Being a general contractor is all about relationship building. How do you build relationships with your subcontractors that they want to continue to do work with you?How to find themIG- @pettwayestates https://www.pettwayestates.com/https://www.thekidvestors.com/Learn how to invest out of state- https://www.outofstatemoney.com/ Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Download my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1