Nurse’s Side Gig: Real Estate/Land Flipping

Besides working in an ER, Monique Davis, RN, BSN, has a side gig as a real estate investor specializing in land flipping and spec builds. (She also has another side gig as a family crisis coach, specializing in troubled teenagers, but we’ll save that one for another column.)

Davis took the time to answer our questions about her business. What follows is our interview, edited for length and clarity.

Why did you start flipping real estate/land as a side gig? When did you start it, and how did you go about it?

I started investing in real estate in 2018 with my first rental purchase, then followed that with purchasing my first Airbnb. When I learned about land investing, I hired a coach to teach me how to scale my real estate investing business in 2019. I could buy cheap properties and flip them for a significant profit. I did that repeatedly, and I kept taking the profits and buying more properties until I had enough money to buy a piece of land to build on.

From there, I built and sold spec houses (this stands for speculative houses and means that it’s a new house that someone has constructed, assuming it will sell for a profit). I recently sold my last spec house and am focused on land that I bought to build a venue and cabins on.

What exactly do you do with flipping real estate/land? How often do you do it?

When I am flipping land, it’s pretty basic. I buy them well under market price and then re-list them at market price—same concept with flipping houses.

Did you have previous entrepreneurial experience? Or did you learn on the go? Did establishing your side gig take a lot of time or money?

I was self-employed from the time I was 18 until I became a nurse at 36. I had never owned a business, though.

Becoming a business owner was a “learn on the go” experience for me and continues to be. Every time I take on something new in real estate, I learn on the go. I studied for two years before making my first purchase, and I felt like, as a single mom, it took all my savings to buy just one house. So I borrowed money from my dad to pay a coach to teach me how to scale. I was determined to make back the money I borrowed within 30 days of coaching.

Within 30 days of coaching, I could pay my dad back for coaching and had made a profit. The first property I purchased was $350.00, so the initial investment for land flipping was more the cost of the coach than the land itself.

What did you enjoy most about your side gig?

I love real estate. Everywhere I go, I look at real estate. Sitting on the couch, I cruise the internet looking at real estate. I love that I can do it from wherever I am at any time.

What are some of the challenges?

The only challenge with land flipping is finding land that makes sense to purchase.

There are always many challenges that come with “ground-up” builds. You deal with many moving parts from beginning to end–permits and inspections to subcontractors and materials. I have learned so much from the ground-up construction. It is very rewarding but can also be highly stressful.

What are the biggest rewards of having your side gig?

Freedom. I can do that business from anywhere I am. I also travel more than I did before. I like to go and see new potential investment areas.

What would you say to someone who was considering getting into flipping real estate/land?

Real estate investing seems sexy and can be, but it is also a lot of work and commitment. I suggest studying the different types of real estate investing that interest you and then hiring a coach to teach you what they know to get you there faster.

Anything else that is important for readers to know?

While I love real estate investing, my passion is working with families on their healing journey. Real estate investing gives me the freedom and time to do what I am passionate about. Money is always good if you can use it to make an impact.