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Op/Ed

The simultaneous flop and success of house flippers in COVID-19

(OPINION / EDITORIAL) House flipping is flopping this quarter… but house flippers are still filling their pockets! What’s going on?

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Older, beat up interior of a house ready for house flippers to start work.

‘Well, now that all my pleasant distractions are gone, I’ll definitely get to the grinding, difficult projects I’ve been putting off’, said… Well, everyone middle class and up during this pandemic.

It’s not a bad thing to be an optimist (or so I’m told). Something something, opportunity and crisis are the same in Chinese, except Chinese is not technically an actual language, and also
that’s not even true, and also diminishing returns on motivation are to be expected considering he general rise in stress amongst us 99%ers during these plague-ridden days.

Unsurprisingly, that means we’ve been seeing a drop in people willing to tread through the process of buying, oversee the remodeling of, and selling a house for profit. Considering I could
barely will myself to rearrange my bedroom after my nightly round of anti-maskcne treatments, I’m not too shocked.

COVID-19 proper and the layoffs surrounding the virus’ spread are hitting manual laborers hardest, increasingly leaving would-be flippers without the skilled professionals they need to realize their before/after visions, and idealists further down the financial ladder are reconsidering their investment priorities in the face of their own challenges.

As much sense as this makes, it is always nice to have trustworthy data to back up my ramblings. Check out the numbers from ATTOM Data Solutions:

US Fix and Flop Finance Trends

US Home Flipping Profit Trends

US Home Flipping Trends

What did surprise me about the latest trends though is that while numerically, fewer flips are occurring, monetarily fewer flips’ funds are filling fortunes faster! In other, less tongue-twisty words, the houses that are being flipped successfully are bringing even more profit. “Home-flipping again generated higher profits on less transactions across the United States in the third quarter of 2020 as investors continued to make more money on a declining number of deals,” Chief Product Officer, Todd Teta, of ATTOM Data Solutions lets us know.

Best guess here (or my guess, which is really the same thing) is that more experienced house flippers with COVID-proofed access to more resources—networks, funds, quality libations, et cetera have leveraged said advantages and raised the average accordingly. Kudos! The bulk of six-figure profits settled in California and the Pacific Northwest, while Texan metropolises and cities in the South saw lower profits in the teens, and as a Texan myself, I’m slightly saddened… But winning is winning no matter the margin.

What is it we can learn here? I say the lesson is the same we’ve been seeing since we first decided a fistful of gold was better than a fist full of berries—those who already have better tend to do better. Whether my musings hold true still remains to be measured, but no matter what the data shows, to all house flippers, breaker trippers, and hot toddy sippers out there… Best of luck, and I salute you.

You can't spell "Together" without TGOT: That Goth Over There. Staff Writer, April Bingham, is that goth; and she's all about building bridges— both metaphorically between artistry and entrepreneurship, and literally with tools she probably shouldn't be allowed to learn how to use.

Op/Ed

To-do list tips to maximize productivity and lower stress

(EDITORIAL) Even if you have a to-do list, the weight of your tasks might be overwhelming. Here’s advice on how to fix the overwhelm.

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To-do list in a journal with gold rings.

If you ask me, there’s no better way to unwind and ease everyday stress by making a to-do list. Like they said in the movie, Clueless, “It gives [you] a sense of control in a world full of chaos.”

While that quote was specific to a makeover, it certainly applies here. When you have too many things on your plate, making a to-do list is a quick way to get yourself in order. Typically, this does the trick for organizing your upcoming tasks.

It’s important to determine what method of listmaking works for you. I personally like to use sticky notes around my computer monitor to keep me in check for what’s needed to be done work-wise or by use of my computer. Other personal task items will either be kept in a list on my phone, or in my paper planner.

For work, I have a roster of clients I work with everyday. They each have their own list containing tasks I have to complete for them. I also use Google Calendar to keep these tasks in order if they have a specific deadline.

For personal use, I create a to-do list at the start of each week to determine what needs to be accomplished over the next seven days. I also have a monthly overview for big-picture items that need to be tackled (like an oil change).

This form of organization can be a lot and it can still be overwhelming, even if I have my ducks in a row. And, every once in a while, those tasks can really pile up on those lists and a whole new kind of overwhelm develops.

Fear not, as there are still ways to break it down from here. Let me explain.

First, what I’d recommend is going through all of your tasks and categorizing them (i.e. a work list, a personal list, a family list, etc.) From there, go through each subsequent list and determine priority.

You can do this by setting a deadline for each task, and then put every task in order based on what deadline is coming up first. From there, pieces start to fall into place and tasks begin to be eliminated. I do recognize that this is what works for my brain, and may not be what works for yours.

Leo Babauta of Zen Habits has some interesting insight on the topic and examines the importance of how you relate to your tasks. The concept is, instead of letting the tasks be some sort of scary stress, find ways to make them more relatable. Here are some examples that Babauta shares:

  • I’m fully committed to this task because it’s incredibly important to me, so I’m going to create a sacred space of 30 minutes today to be fully present with it.
  • This task is an opportunity for me to serve someone I care deeply about, with love.
  • These tasks are training ground for me to practice presence, devotion, getting comfortable with uncertainty.
  • These tasks are an adventure! An exploration of new ground, a learning space, a way to grow and discover and create and be curious.
  • This task list is a huge playground, full of ways for me to play today!

Finding the best method of creating your to-do list or your task list and the best method for accomplishing those tasks is all about how you relate and work best. It can be trial and error, but there is certainly a method for everyone. What are your methods?

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Op/Ed

Why delegation of work doesn’t always lead to productivity

(OPINION / EDITORIAL) Delegation is tricky, and can end up creating more work for yourself if it isn’t done well. Here’s how to fix that.

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Man talking on virtual meeting, using delegation to get more work done.

Delegating work is a logical step in the process of attaining peak efficiency. It’s also a step that, when executed incorrectly, leads to a huge headache and a lot of extra work for whomever is delegating tasks—not to mention frustration on the part of those asked to complete said tasks. Here is how you can assign work with the confidence that it will be done quickly and effectively.

Firstly, realizing that a “one size fits all” approach doesn’t work can be a bit of a blow. It’s certainly easier to assign tasks across the board and wait for them to be completed; however, when you consider how much clean-up work you have to do when those tasks don’t end the way you expect them to, it’s actually simpler to assign tasks according to employees’ strengths and weaknesses, providing appropriate supports along the way.

In education, this process is called “differentiation”, and it’s the same idea: If you assign 30 students the exact same work, you’ll see pretty close to 30 different answers. Assigning that same piece with the accommodations each student needs to succeed—or giving them different parameters according to their strengths—means more consistency overall. You can apply that same concept to your delegation.

Another weak point in many people’s management models revolves around how employees see their superiors. In part, this isn’t your fault; American authority paradigms mandate that employees fear their bosses, bend over backward to impress them, and refrain from communicating concerns. However, it is ultimately your job to make sure that your employees feel both supported and capable.

To wit, assign your employees open-ended questions and thought-provoking problems early on to allow them to foster critical thinking skills. The more you solve their problems for them, the more they will begin to rely on you in a crisis—and the more work you’ll take home despite all of your delegation efforts. Molding employees into problem-solvers can certainly take time, but it’s worth the wait.

Finally, your employees may lack strength in the areas of quality and initiative. That sounds a lot worse than it actually is—basically, employees may not know what you expect, and in the absence of certainty, they will flounder. You can solve this by providing employees with the aforementioned supports; in this case, those look like a list of things to avoid, a bulleted list of priorities for a given project, or even a demo of how to complete their work.

Again, this sounds like a lot of effort upfront for your delegation, but you’ll find your patience rewarded come deadline time.

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Op/Ed

5 things your home office may not need

(EDITORIAL) Since many of us are working entirely from home now, we are probably getting annoyed at a messy desk, let’s take a crack at minimalism!

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desk minimalism

COVID-19 is changing our behaviors. As more people stay home, they’re seeing (and having to deal with) the clutter in their home. Many people are turning to minimalism to reduce clutter and find more joy. There are many ways to define minimalism. Some people define it as the number of items you own. Others think of it as only owning items that you actually need.

I prefer to think of minimalism as intentionality of possessions. I have a couple of dishes that are not practical, nor do I use them very often. But they belonged to my grandma, and out of sentimentality, I keep them. Most minimalists probably wouldn’t.

They say a messy desk is a sign of creativity. Unfortunately, that same messy desk limits productivity. Harvard Business Review reports that cluttered spaces have negative effects on us. Keep your messy desk, but get rid of the clutter. Take a minimalistic approach to your home office. Here are 5 things to clean up:

  1. Old technology – When was the last time you printed something for work? Most of us don’t print much anymore. Get rid of the old printers, computer parts, and other pieces of hardware that are collecting dust.
  2. Papers and documents – Go digital, or just save the documents that absolutely matter. Of course, this may vary by industry, but take a hard look at the paper you’ve saved over the past month or so. Then ask yourself whether you will really ever look at it again.
  3. Filing cabinets – If you’re not saving paper, you don’t need filing cabinets.
  4. Trade magazines and journals – Go digital, and keep your magazines on your Kindle, or pass down the print versions to colleagues who may be interested.
  5. Anything unrelated to work – Ok, save the picture of your family and coffee mug, but clean off your desk of things that aren’t required for work. It’s easy for home and work to get mixed up when you’re working and living in one place. Keep it separate for your own peace of mind and better workflow. If space is tight and you’re sharing a dining room table with work, get a laundry basket or box. At the start of the workday, remove home items and put them in the box. Transfer work items to another box at the end of the day.

This might seem like a little more work, but all these practices will give you some boundaries.

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