From wholesale to flips – the transition to the world of entrepreneurship

#Entrepreneur of the Week Corinne Barak Post 3

Post 3: From Wholesaling to Flips – The Transition to the World of Entrepreneurship

After several years of bringing deals to others, the moment came when I asked myself: Why not me? Why not do it myself?

I was surrounded by investors, I saw deals going by in front of me all the time, and I realized – I know how to identify opportunities, I know how to analyze, I know how to talk to sellers. What I lack – is just the courage.

So I just decided. I stopped being afraid. I saved up some money, calmed myself down, and said: I'll start small. Just to feel it out. To gain experience.

I purchased an apartment for $70. I bought it in cash. No loans, no drama, no big risks – just a desire to start moving. I wasn’t looking to make a big profit – I was looking for security. And I only wanted one thing from this deal: to come out of it with more courage than I went in with.

To find the first property to flip – I didn’t wait for something “perfect” to fall into my hands. I started generating leads. I didn’t have a team, I didn’t have a marketing system, so I did what I could: I bought leads from all sorts of sites that were already running campaigns on Google, social media, Facebook – every lead someone left on the site, you could buy. So I bought. From different sites, at varying prices – and I started calling.

And in the case of the first deal? I didn’t even have to renovate. As soon as I bought it, I put the property up for sale on the agents’ website. And it worked. I found a buyer in no time, and the deal closed. I made $15. No paint, no hammer, just a quick decision, a healthy instinct, and a little courage.

And it was exactly what I needed – not a life-changing amount, but enough to prove to myself that I could.

The second deal was in partnership with two other people. We bought a house for $120 – and put it on the market the next day. No renovation, no fuss – just good timing and the right deal. In the end, the profit was around $20, which we split between the three of us.

Then came the first flip with a real renovation – a townhouse in Homestead. It all started as a brokerage deal. A client from the neighborhood heard about me and asked me to sell her the house. When I got there – I saw the potential. Instead of just brokering – I decided to purchase the property myself.

I did a relatively light renovation: a thorough cleaning, neutral paint, and new vinyl flooring that gave a modern touch. I used my real estate agent license and put the property up for sale. I saved commissions, managed the listing myself, and talked to the buyers. The profit was high… and from that moment on I realized – you don’t have to work hard, you have to work smart.

In Fort Myers, I met a client with her son. The house was in poor condition – old wooden roof, broken walls, a complete renovation. But what caught my eye were the two separate entrances – potential for a subdivision. I bought the property for cash, put it on the MLS the next day, and found a lovely local family. They were thrilled, because even after the purchase they still had room for renovation and profit.

From there I continued to Cape Coral, then to Jacksonville. Sometimes I would travel five or six hours just for one meeting. At first, they didn’t know me, so I would come myself. Over time, trust was built, and I started managing everything remotely. The leads I continued to buy also led to brokerage deals – one of which was a million-dollar house in Jacksonville.

I had a particularly challenging deal in Miami – a house I got through friends who asked me to help them sell. The previous tenant had lived there for 12 years, didn’t pay rent, and left a complete mess. The owner actually lives in Israel. At first I planned to just broker it, but then I said to myself – I’m buying it.

The renovation took six months. The ceiling was about to collapse. I dealt with everything. I rented the property for two years and then sold it. At first, even the inspector told me not to touch it. But I listened to my intuition – and I was right. I sold it for a profit.

The less talked about side – the difficulties of flips

Flips aren’t just before-and-afters on Instagram. Behind every “beautiful profit” – there is a reality that requires management, flexibility, and endless patience.

The first thing I encountered? The language.

Most contractors in South Florida – and especially in Fort Myers, Cape Coral – speak Spanish. You are not always understood, they are not always understood. And that affects the process, the accuracy, and the pace of work.

In South Florida – no budget is truly final, and no schedule is truly accurate.

Contractors – no matter how much you pay them – can disappear, delay for no reason, or leave a job half-finished. You have to sit on them. Every day. Every step. Every decision. And during every renovation, there are always more glitches and surprises.

Therefore, anyone who lacks patience, composure, and the ability to maintain mental balance will find it very difficult to maintain this over the long term.

True entrepreneurship – it's not a profession, it's an approach to life

Being an entrepreneur is not just opening a business. It's not just "working for yourself." True entrepreneurship is a way of thinking, a mindset, where you wake up every morning and ask yourself: What am I building today? What am I creating? Where is the next opportunity?

Entrepreneurship is not following a path – it's creating the path yourself. It's not waiting to be told what to do – it's knowing how to ask the right questions.

And that's mainly – taking risks. Sometimes out of knowledge, sometimes out of gut feeling. But always out of faith in yourself.

It takes resourcefulness, elbows, and real courage to jump – even when there is no safety net underneath.

Just before the first flip – what should you know?

Before entering into a flip transaction, it is important to understand:

– It’s not quick money. It’s a process. – Things will always take longer and cost more than you thought. – Contractors won’t always keep their word. Sometimes they won’t show up. – You’ll have to make decisions on your own, and sometimes – quickly. – And sometimes, you’ll just have to trust yourself.

Anyone who enters the world of flips – enters a world of daily stress management. of problem solving. of learning on the go.

But those who persevere – discover that it is one of the most satisfying paths there is. Because you don’t just make a profit – you create. You influence. You build something of your own.

And what are flips anyway – and how do you get out of them?

Flipping is not just “buy low and sell high.” It’s a strategy. It’s a deep understanding of the market, timing, target audience, and exit options.

Here are some of the most common exit strategies:

Fix and Flip – buy a property below market price, renovate, and sell at a profit.

BRRRR – Buy, Rehab, Rent, Refinance, Repeat – buy a property, renovate, rent, refinance, and move on to the next deal. A way to build a property portfolio.

Fix and Hold – Buy a property, renovate it, and leave it for rent. Passive income over time.

And what about taxes?

Real estate entrepreneurship also requires understanding the tax side. There is a difference between a short-term capital gain (flip) and rental income (hold). When you build a business that holds assets – you enter the worlds of depreciation, deductions, smart sale timing – all of which affect how much you actually have left in your hand.

A good entrepreneur doesn't just look at how much profit he makes in a deal – but how much he keeps.

And besides? For me, it was also incredibly satisfying – because I love design.

There's nothing like seeing a house falling apart, and turning it into something living, breathing, beautiful.

Seeing my design come to life – it was just fun.

So yeah, flips aren't easy.

Entrepreneurship isn't always glamorous.

But there is no greater satisfaction than looking at a house that stood empty, and knowing – “I gave it new life.”

And if you're thinking about jumping into this world – understand that it's not just a matter of numbers.

It's a game of people, of decisions, and of courage.

And if you've come this far – you probably have it in you.

Tell me in the comments – what surprised you the most in the world of real estate?

Or what have you always wanted to ask a flipping entrepreneur – without filtering. I'm here.