Traveling can be an amazing adventure. It just is an amazing adventure that takes time, planning, and money. And often times one or more of these are the major factors as to why many people never end up accomplishing their traveling goals. However, what if we told you that you could fulfill your traveling goals, while at the same time keeping up with your own business of flipping houses? While this may seem crazy and impossible to you, because as someone who invests in real estate the assumption that you can travel on your house's dime seems a little bit ludicrous. However, in this article we will show you how it's not only possible, but is simple and relatively easy.
So, what's the secret behind travel hacking your way through a house flip? Well, the answer is a credit card. Now, you might be saying, “Wait, a credit card? No, thank you.” And we completely understand. After all credit cards can have a tendency to get you into some trouble if you're not careful. However, as you already know when flipping a house you have quite a bit of cash that you'll need to be investing into the house to fix it up. And with a credit card, you can earn big bonus points or miles to travel for free if you spend a minimum amount of dollars that are required to apprehend such a deal. So, why not combine the two and use a credit card to spend the money you are already going to need to invest, and get the points all at the same time.
If you are willing to open up a credit card, and spend the minimum required amount, you can gain hundreds of thousands of miles towards the vacation of your dreams. For instance, not too long ago British airways was offering 100,000 Avios (the name of their reward program) points if you would sign up for their credit card and spend a minimum of $3000 in the first 3 months of opening your account. And as you know as a flipper, $3000 seems like petty cash when it comes to some of your house flips. Meaning, you can easily make the minimum requirement, while at the same time fixing up your investment house. Talk about a win-win, because you not only are building an investment, but are also getting a free trip out of the deal.
The only drawback to this method is that you just have to make sure you’re diligent in paying off the balance of your card per month. This is because if there's any carrying balance anything “free” will be eliminated, and the interest charges will rack up quickly. However, if you already have the cash in hand, which if you're a smart investor you do, this shouldn't really be an issue. The only other drawback is that when you open a credit card, there is a potential that your credit score may be knocked down a few points. However, in the grand scheme of things this really isn't that big of a deal.
So, now you know this big secret. You've learned how you can invest in flipping a home, while at the same time earning yourself a free vacation. A vacation that can be used as a celebration trip once you’ve successfully flipped the house you’re working on. You can get good help from Real Estate Virtual Tours. We ask you, can it really get any better than that?