A young Canadian entrepreneur embarked on a high-stakes journey into the US real estate market, transitioning from a stable HVAC career to the challenging world of house flipping. Despite accumulating substantial profits and completing numerous transactions, he candidly expresses reservations about the path chosen, acknowledging the unforeseen difficulties and intense pressures involved. His experience sheds light on the demanding nature of this business model and the significant personal sacrifice required for success.
The Leap from HVAC to Real Estate Entrepreneurship
Teagan Trapp, a 24-year-old from British Columbia, made the unconventional decision to leave his established career as an HVAC technician to venture into real estate investment, specifically focusing on flipping houses in the United States through his company, Blue Peak Ventures. His initial goal was to acquire a portfolio of apartment buildings in Canada, but concerns over the country's fluctuating mortgage interest rates, which renew every five years, led him to explore more stable investment opportunities south of the border. In the US, he found the prospect of locking in interest rates for 30 years far more appealing, offering the financial predictability necessary for long-term investment strategies.
Motivated by the broader market opportunities in the US, Trapp immersed himself in learning about cross-border real estate. He spent countless hours researching online, consulting with cross-border accountants and attorneys, and studying the nuances of US property ownership and tax strategies relevant to Canadian investors. This intensive preparation culminated in his decision to resign from his HVAC position in October 2024. His early efforts included an arduous road trip to Minnesota in November 2024, where he personally sought out properties, encountering numerous rejections that underscored the difficulty of the endeavor. Ultimately, his persistent efforts laid the groundwork for his first successful acquisition, marking the beginning of his transformation into a full-time real estate entrepreneur.
Navigating the Complexities and Demands of House Flipping
Trapp's entry into the US real estate market involved dealing with properties that most conventional buyers would avoid, often termed as 'distressed' assets. These transactions frequently stemmed from challenging situations such as foreclosures, estates with complex legal issues, or properties left in extreme disrepair. His first successful deal in March 2025 exemplified this, involving a pre-foreclosure condo near Atlanta. He purchased the property for $70,000 cash, settling outstanding mortgages and liens. Despite discovering the condo was a hoarder's residence filled with severe neglect, he managed to find a buyer and sold it as-is for $130,000 within three weeks, demonstrating his ability to identify and capitalize on overlooked opportunities.
Since that initial success, Trapp has closed over 30 deals, averaging two transactions monthly. While the average profit per deal is approximately $25,000 before overheads, he emphasizes the immense stress, high-risk tolerance, and significant time and financial investment required to sustain the business. He acknowledges that if he had fully comprehended the arduous nature of this path, he might have chosen a different career. Currently, with a team of five and plans to expand, Trapp is actively working to delegate operational responsibilities to scale his business more efficiently. To mitigate the chaos of operating in multiple states, he plans to consolidate his activities to four key states: South Carolina, Florida, Texas, and North Carolina, aiming to streamline operations and reduce the overwhelming daily pressures he has experienced.