Real estate investing can be fun and rewarding. It’s all about finding creative ways to make money while staying organized. This post shares how Noah Gilliom and his partner, Ryan Dossey, went from owning rental properties to focusing on flipping houses—and why that worked for them.
Transitioning from Wholesaling to Flipping
Noah and Ryan used to own 170 rental properties. After the pandemic, they decided to sell all of them and start flipping houses. It was a big decision, but they had a plan to make it successful.
Why Did They Sell Their Rentals?
Noah explained that they sold their rental properties because they became really good at building systems that saved time and money. For example, they made deals with suppliers like Sherwin-Williams to buy materials at a discount. Instead of paying $72 for a gallon of paint, they only paid $17! This type of strategic thinking made flipping houses a better choice for them.
Why Flipping Makes Sense for Them
For Noah and Ryan, flipping houses proved to be a smarter choice than managing rentals. Flipping brought in larger profits per deal, allowing them to focus on fewer properties while earning more. It also eliminated the stress of dealing with tenants and ongoing maintenance issues. Once a house was renovated and sold, the work was complete. This made flipping a more profitable and less stressful path for their real estate business.
How They Stay Organized
Flipping 25 to 30 houses a year is no small task, but Noah and Ryan manage it by using smart systems that help them stay efficient. These systems allow them to juggle multiple projects at once while saving both time and money. By streamlining their processes, they ensure that every project stays on track and runs smoothly, making it possible to handle such a high volume of work without becoming overwhelmed.
What They Learned from Rentals
While managing rentals, Noah and his team learned that small problems can quickly turn into big, costly issues if not addressed right away. For example, a leaky gutter might seem like a minor inconvenience, but if left unfixed, it could lead to water damage, mold, or even structural problems. This experience taught them the importance of fixing issues early to save time, and money, and prevent larger repairs in the future.
Talking to Renters
Some renters don’t report small problems because they don’t want to bother their landlord. However, these small issues can grow into much bigger problems if left unchecked.
"Some tenants don’t want to bother us, but then these maintenance things can cause bigger problems that they’re not telling us about." — Noah
How to Keep Properties in Good Shape
To avoid costly problems, Noah’s team inspected their rental properties regularly. They checked for leaks under sinks, tested smoke alarms, and made sure furnace filters were clean. Simple tasks like these helped them catch issues early and save money in the long run.
Stopping Rental Scams
One challenge Noah’s team faced was rental scams. Some applicants sent fake IDs or documents to secure leases. To stop this, they stopped using digital lease signing. Instead, they began meeting tenants in person to verify their IDs before signing leases.
The Importance of Verification
By meeting tenants face-to-face, Noah’s team ensured the person signing the lease was the same person listed on the documents. This simple change helped prevent fraud and saved them from bigger headaches later. As Noah mentioned, they meet them in person and require they show the physical ID when they’re lease signing.
Final Thoughts: Adapting to Succeed
Noah and Ryan’s story is a great example of how real estate investors can adapt and succeed. Whether you’re flipping houses, managing rentals, or exploring wholesale deals, staying flexible and always learning is the key to long-term success.
Real estate investing is full of opportunities, but it’s also full of challenges. By being creative, organized, and willing to change your approach, you can overcome obstacles and achieve your financial goals.
