Real Estate Investing: Full time Real Estate Investor Justin Colby shares the systems to create the business and lifestyle you always dreamed about as a real estate investor. Flip homes while on vacation, flip homes while sitting on your couch. YOU will discover the systems and techniques to use in your real estate investing business. YOU will also hear from a diverse group of very successful real estate investors from across the country. The Science of Flipping podcast will help you become a millionaire real estate investor.
Real Estate Investing: Full time Real Estate Investor Justin Colby shares the systems to create the business and lifestyle you always dreamed about as a real estate investor. Flip homes while on vacation, flip homes while sitting on your couch. YOU will discover the systems and techniques to use in your real estate investing business. YOU will also hear from a diverse group of very successful real estate investors from across the country. The Science of Flipping podcast will help you become a millionaire real estate investor.
Real Estate Investing: Full time Real Estate Investor Justin Colby shares the systems to create the business and lifestyle you always dreamed about as a real estate investor. Flip homes while on vacation, flip homes while sitting on your couch. YOU will discover the systems and techniques to use in your real estate investing business. YOU will also hear from a diverse group of very successful real estate investors from across the country. The Science of Flipping podcast will help you become a millionaire real estate investor.
On The Flip Empire Show, Alex Pardo brings you strategies, interviews, and insights for smart real estate investors to help grow and scale your real estate investing business. The Flip Empire Show was created for YOU, the smart real estate investor and entrepreneur. If you're looking for ACTIONABLE and SIMPLIFIED advice, Alex Pardo has you covered with his Master Class Expert Interviews, as well as the Q and A shows. Learn from real estate's heavy hitters, as Alex Pardo puts them on the hot seat to reveal their best strategies for running a profitable, scalable, and automated real estate business. Get a fresh perspective from a Real Estate Investor, Entrepreneur, and Coach that has flipped well over 500 homes. We're dedicated to adding value to you and your business, and bringing you the best content to help you make more money, build your empire, and experience freedom through real estate investing. For more strategies, and recommended resources, check us out at www.FlipEmpire.com.
Rank #1: EP172: Are You Losing Deals Because You’ve Got Too Much Competition?.
Don Ross has a virtual real estate investing business but is currently looking to pivot and grow his business model in new ways. Don explains why he decided to offer his sellers more than one option when wholesaling doesn’t work for them, how he onboards new talent, and why he specifically sought out and hired someone who had a business model he wanted to create in his business. Key Takeaways: How did Don Ross get started and what does his business look like today? Don is giving his sellers more than one option if wholesaling doesn’t work for them. How does Don structure his team? How has the book Traction helped Don with his business? What kind of KPIs should you really be tracking? How does Don train his new team members? Don found someone who has a business model that he’d like to have and hired him as a coach. Why did Don decide to switch up his business model? Don discusses some of the biggest challenges he’s faced so far. Take the time to make sure your business partner and you are compatible. Don shares some of his favorite books for entrepreneurs. The Flip Empire Inner Circle Want to close more deals and generate more revenue? Have questions you want to ask me? Interested in generating more leads, creating systems, automating your business, or just growing as an Entrepreneur? This isn’t your typical coaching program that charges you b/w $5,000 - $50,000. This is a small community of experienced, like-minded, successful Real Estate Investors. Click To Apply, and let’s talk! Mentioned in This Episode: FlipEmpire.com Flip Empire Private Facebook Group Flip Empire on iTunes Email Alex: Alex@FlipEmpire.com Interested in joining The Flip Empire Inner Circle (Small Group Consulting Program), apply here: Flipempire.com/application “Episode 154: Joe Evangelisti on TRACTION, and the Entrepreneurial Operating System (EOS)” Take the DISC Personality Test for Free Here Book Recommendations: Traction: Get a Grip on Your Business, by Gino Wickman Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine, by Mike Michalowicz The Toilet Paper Entrepreneur: The tell-it-like-it-is guide to cleaning up in business, even if you are at the end of your roll, by Mike Michalowicz Connect with Don at www.REIAutomationSquad.com or via email: REIAutomationSquad@Gmail.com Tweetables: “Use your KPIs to know on a daily, weekly, and monthly basis what you need to be doing from a marketing perspective.” “Entrepreneurs wear these hats and they don’t find a way to get that off their plate and on to the right person’s plate.” “If you don’t enjoy it, then what’s the point?” Ask Alex A Question: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally! Did you get your FREE Online Course? Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course. Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Rank #2: EP212: Brett Snodgrass Divulges How His "Simple Wholesaling" Business Closes 20+ Deals a Month (Through Creative JV Partnerships and Simple Marketing).
Brett Snodgrass is a wholesaler based in Indiana. Brett hired his first employee 4 years ago and since then the business has been doubling in profits every year. Brett shares how he found the right people for his company culture, what his marketing strategy looks like, and the best ways to manage a JV partnership. Key Takeaways: What does Brett’s business look like today? How has Brett got his business to the point where he can close around 30 deals a month? Brett has been scaling his business for the last four years. It takes time to get to where he is today. In 2015, Brett did around 80 deals that year. In 2016, he and his team doubled it. How has Brett been able to find the right people for his company? Brett shares his core values for the company and why it’s so important to have them. Many leaders don’t include their team members. They’re ‘the boss’ and that’s it. When you have a good environment, people don’t want to leave. How many employees does Brett have and what are their positions? What does Brett’s marketing strategy look like? How does Brett structure his JV partnerships? Brett shares how he qualifies a good JV deal. What would Brett share to his 25-year-old self? Mentioned in This Episode: Connect with Brett here: Simplewholesaling.com Book Recommendations: Traction: Get a Grip on Your Business, by Gino Wickman Scaling UpScaling Up: How a Few Companies Make It...and Why the Rest Don't, by Verne Harnish Tweetables: “You’ve got to get your whole team to buy-in to the core values so that they actually feel ownership and proud.” “If it’s long lasting and sustainable, then it has to be more than just a paycheck. Your team has to buy into the vision.” “We didn’t do JVs or other wholesale deals literally a year and a half ago. In order to scale, you have to find other lead generation sources.” Ask Alex A Question: Have a question you want featured on an upcoming Flip Empire Show? Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally! Did you get your FREE Online Course? Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course. Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Flip Talk with Don Costa is a no BS podcast with the specific goal of giving real actionable information that you can use to start or grow your real estate business. No fluff, no bull, and no so called experts. Just real knowledge, tips and tricks form the guys who actually flip houses every day! Subscribe for our weekly episodes and get an inside look at successful house flipping businesses and learn from "real" investors who have forged the path of success. Join Don Costa to get tips and tricks on how to implement systems while avoiding common and costly mistakes to grow your house flipping business today!
Rank #1: How This Guy Partnered with Sean Terry on His First Wholesale with Dean Rogers.
Life doesn’t always happen according to plan, but that doesn’t mean that we don’t end up living the life that we want and deserve. We need to learn to adjust to the circumstances we are given and never give up in our pursuit of excellence and our passion. Dean Rogers has always loved sports and he has always been good at it. Growing up, he aspired to become a professional athlete, so he lived his life devoted to the pursuit of that dream. He finally achieved that dream and was signed to play in the NFL with the San Diego Chargers, but a little after a year of playing, he had a change of heart and decided to let go of this dream. This didn’t throw Dean off course, though. He pursued a professional career in a software company until one day he realized that this was not the type of life he wanted for himself or his family. He wanted to live a life without limits, one which he could control. This was what led him into the world of real estate investing. Dean is now a part-owner of the Home Helpers Group, a company that fixes and flips houses in Central California. He shares his inspiring story in today’s show, along with some very interesting tips on how to land deals and survive auctions. “Never stop learning, because there will always be new ways to do things and new things to learn.” On today’s episode of Flip Talk: Dean explains the importance of always learning and growing. He shares how he started his journey into real estate investing on independent study and research. He shares how he landed his first deal after 3 months of self-study and how he reached out to his mentor, Sean Terry, for advice which helped him close the deal. He explains the structure of his company, his role in finding acquisitions, and the importance of having someone on your team focusing specifically on acquisitions. Dean shares the different areas that he uses to acquire new deals such as the MLS, wholesalers, auctions, bandit signs and other marketing efforts. He discusses the importance of relationships in finding new deals. He explains how he raises capital to get to the auctions. Dean’s Tips for Going to the Auctions Know what’s going to be auctioned and when it will be auctioned. Check the properties to conduct an initial valuation. Verify that the property is going to auction. Check if there are no liens on the property. Show up everyday Dean’s Advice for Those Who are Just Starting Focus on finding your first deal and go all in. Don't be afraid to start a conversation and ask questions – even if it's not to close a deal. Every conversation is an opportunity to start a relationship that could be good for your business. Resources Mentioned: Sean Terry – Flip2Freedom.com FortuneBuilders Property Radar Connect with Dean Rogers HomeHelpersGroup.com Home Helpers Group on Facebook Home Helpers Group on LinkedIn Home Helpers Group on YouTube Home Helpers Group on Twitter Home Helpers Group on Google+ Dean Rogers on LinkedIn Phone: 559-471-3333 Email: email@example.com Rate, Review, Learn, and Share Join us every Wednesday for a brand-new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens on real estate investing and house flipping. Email your questions to Topics [a] FlipTalk [dot] com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, join our Facebook group, or visit our website.
Rank #2: Flipping Houses and Running It Like A Business with Justin Williams.
Justin Williams is a systems superstar in the real estate industry. He has been in business for over 10 years and his business virtually runs on autopilot. The systems and processes he uses in his business today has allowed him more time and freedom to do the things he loves while running a highly successful house flipping business. On today’s episode, Justin shares the story of how he got into the real estate industry, how he accomplishes what he does, and how he gets it all done using various systems and processes throughout his business. He also shares several tips on what you should be tracking in your own business and the mindset you will need to grow your business to a high level of success. “Your only goal in business is to create this machine that will work for you; that for every dollar you put into it, you’re getting 2, 3, 4, 10 times back.” – Justin Williams On today’s episode of Flip Talk: Creating systems and empowering others to do the same Overcoming the fear of sharing your company secrets with your employees, partners, and contractors Things you should be tracking in your business The attitude and mindset you need to succeed at a high level Justin’s Advice for New Real Estate Business Owners: Create a lead generation system first, then – quickly after – create an automatic follow-up system. Take massive action. Surround yourself with mentors and people who have been where you are. Connect with Justin Williams: House Flipping HQ House Flipping HQ Business Analyzer House Flipping Formula Coaching Program Rate, Review, Learn and Share Join us every Wednesday for a brand-new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens of real estate investing and house flipping. Email your questions to Topics@FlipTalk.com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, join our Facebook Group, or visit our website.
The FlipNerd real estate investing podcast brings you access to expert real estate investors and other awesome entrepreneurs such as: Matt Theriault (of Epic Real Estate), Bill Tan, Larry Muck, Andrew Waite (Personal Real Estate Investor Magazine), Bill Bronchick, Charles Dobens, Ray higdon, Jeremy Veldman, Jean Norton (Rehabbing Remotely), Clint Coons (Anderson Advisors), Jason Medley (Collective Genius), Cory Boatright, Tony Alvarez, Kathy Fetke (Real Wealth Network), Shaun McCloskey (Lifeonaire), Joe McCall (real estate investing mastery), Vena Jones-cox (the RE Goddess), Ross Hamilton (Connected Investors), Larry Goins, Sensei Gilliland (Black Belt Investors), Greg Rand (own America), Lou Brown (Street Smart Investor), Brad Sumrok, Dave Lindahl, Kent Clothier, Linda Pliagas (Realty 411), Sam Sadat, Jason Wojo, Matt Andrews (Real Estate Freedom), and many more. We host the most successful experts in every facet of real estate investing, from single family to multi family, wholesaling and more.
Rank #1: Expert 428: How to Run a Sucessful Air BnB Business.
This is episode #428, and my guest today is Travis Baucom out of Waco Texas. Today we talk about how to operate a successful Air BnB Business. There are a few prominent trends that have happened for real estate investors over the past few years, and short term rentals through Air BnB is one of those trends. As investors in a competitive part of the market cycle, it’s only natural that we start to look for ways to generate higher revenue out of the same houses that we might otherwise fix and flip or keep as a rental, to make up for the fact that finding deals is more difficult now. If you've considered jumping into Air BnB as a business model for your real estate investing business, you'll learn a lot from today’s show. Please help me welcome Travis Baucom to the show. To learn more about our Investor Fuel Real Estate Mastermind, please visit InvestorFuel.com.
Rank #2: Expert Interview #102: How to really measure success in your real estate business.
What if all the success you've achieved in your real estate business didn't matter? It is possible that you've worked so hard to achieve the success you dreamed of, but the sacrifices you made in health and family are too far gone to enjoy your 'success'? Jason Wojo tells more in this FlipNerd.com Expert Interview...you need to watch this one! Get your copy of our FREE "Profiting with Rental Properties" Guide!
The Simple Wholesaling podcast is far more than learning all the real estate investment strategies you need in order to quit your job and make your dreams a reality. We are a community that stands to help you generate wealth, free up your time and then help you use that wealth and freedom to make a difference in the world.Each week we interview top real estate and business experts who we believe have been successful to that end. With our show, along with a lot of laughs, a lil’ bit of Jesus, and a lot of entertainment, we strive to bring everything you need to become a truly successful real estate wholesaler.Hope you enjoy the show!
Rank #1: SWP: 093 10 Questions and Answers for Every Wholesaler.
On today's episode, Bret and Jaren answered some questions from the members of their meet-up group and those sent online. These are some of the most asked questions from Simple Wholesaling Community. You may be wondering the same things so don't miss this episode!
Rank #2: SWP: 123 Starting Out: 6 Rentals in 6 Months.
Bo Kim is a buy and hold real estate investor from Southern California and has picked up 6 rental properties just 6 months since closing on his first property. He invests in working class neighbourhoods across the markets of Indianapolis, Kansas City, and Little Rock. During the day, Bo works as a senior consultant for a regional CPA and hopes to create passive income to become financially free and also educate others to do the same.
Get a behind the scenes “fly on the wall” look at my journey and the journeys of the most successful real estate investors and real estate agents from around the country as we grow businesses that truly provide freedom, flexibility, grows our finances far beyond where we thought possible... and, ultimately helps us make the impact we want to have on the world. We do this by helping you create predictable lead flow through inbound marketing. Also... the stuff I love to talk about the most is what makes YOU tick. How do you perform at a higher level as a person? What productivity hacks do the most successful real estate pros use? How do you keep motivated and build momentum as a real estate investor or agent? Are you growing a business that is trapping you... or one that sets you free? Dive in twice a week with us and finally create the business that you’ve always dreamed of! CarrotCast.comTrevor Mauch is the CEO of Carrot, a software and training company that helps some of the largest real estate investors and agents in the country generate inbound leads online. As one of the fastest growing companies in America rated by Inc. Magazine (and the #1 fastest growing software company in Oregon), Carrot has helped it members generate over 3,000,000 leads online over 5 years, and growing. Visit us at www.CarrotCast.com
Rank #1: EP 85: How Krista Sold 144 Homes Last Year in One of the Hottest Markets - Her Strategy and Story w/ Krista Mashore.
I was Boise, Idaho, about three or four months back at a mastermind and met amazing, amazing people. Some people literally have businesses doing 50, 100 plus million a year. And people from different types of industries, a little of everything was in there. And there was this lady there that she and I connected, hit it off and said, "We need to hop on and do a podcast." And she's in the real estate market. She's the number one real estate agent in Brentwood, California and sold 144 homes last year. She started like a lot of us start, where your back is against the wall and you really need to go out there and make something of yourself or create a business or create the income. She was the same way. She went through a really, really terrible divorce and some other things and she walks you through that time in her life and how she went on to them build this business. And she also breaks down her marketing strategies. Exactly what she's doing to grow that business. It's very similar to the way we teach. It's using content and it's going after being consistent. But she does it in a very specific way. So we invited her on the podcast, under the CarrotCast, and she is a Carrot customer, by the way, an AgentCarrot customer as we're in BETA, with her and lots of other agents. We're really building out the AgentCarrot platform. Just go to agentcarrot.com, to get on that. Or if you're listening to this one, AgentCarrot is rolled out, you can go to agentcarrot.com and join if you're a real estate agent. But we're going to break apart her story, the mindset tricks that she uses that work insanely well for her, to get her mindset orientated and also, what is her marketing mix, that does 150 plus houses a year, as Brentwood California's number one real estate agent. We're going to break all that down in this episode of the CarrotCast. And I think you're going to insanely, insanely enjoy it. All right, without further ado, welcome on Krista Mashore. Find more episodes of the CarrotCast and be sure to let us know how we're doing. We appreciated your feedback!
Rank #2: EP 166: [GREATEST HITS] After 20 Years Tyler Was Going To Give Up Real Estate Until He Made These 3 Changes w/ Tyler Ford.
I'm crazy excited about today's guest. Let me introduce you to Tyler Ford because his story is exactly why we do what do here at Carrot. People ask us why we do what we do. It's not for the lead generation side of things. That's what we do. That's how we help our clients crush it and grow predictable, consistent, profitable businesses. They finally have freedom, flexibility, finances, and can make an impact. That's why we do it. That's what we do. Why we do it is exactly Tyler's story. He's gonna walk through how he was ... he's been in real estate for 20 years, and he was about to give up his entire business January of 2017, and he made one change that he's gonna be talking about on the episode of the CarrotCast that made 2018 the best start to his real estate career he's ever had, the happiest he's ever been in his business, and he's also growing and growing his businesses. It's still just him and his wife flipping but he's growing his agent business and he's insanely happy. He's gaining momentum, and every one of us wants momentum. As entrepreneurs, momentum is so, so important. When you don't have it, you can feel it. You're down, you're out, you're getting stressed, you're tired. You just don't feel like you're doing the right things. When you have it, nothing can go wrong and that's where Tyler is right now. So, if you guys wanna know how he unlocked that momentum, and how he went from almost giving up his 20-year real estate business January of 2017 to now, completely shifted, happy, most profitable as ever, he's gonna tell you. But first, he mentions a couple episodes of the CarrotCast in here that changed his life, and some of these things were some of those pivotal points for him that changed his mindset, that got him thinking in a different way. So, key into those podcast episodes. One of them is my Five Non-Negotiables episode. We've actually done this one twice, go back in the archives in iTunes or on CarrotCast.com. Find that one about my five non-negotiables. That one changed my life and Tyler mentioned it changed his life as well. There are a couple other resources in there, too. I want you to go to oncarrot.com/Tyler, T-Y-L-E-R, and you're gonna be able to go to this episode if you're listening to it on iTunes or watching it on YouTube, and you're gonna be able to download Tyler's formula that he developed in conjunction with our formula during 2017 that helped him get that momentum. So, this is basically a process of formula that you can follow if you're in a spot in your business to where you're not having as much fun as you wanna have or it's not as profitable as you wanna have it. You might even be thinking about giving up, or you don't have the momentum. This formula Tyler walks through is exactly how you can get it. Without further ado, let's welcome in Tyler Ford.
Learn the strategies, systems, and secrets of the nation's top house flippers, wholesalers, and real estate investors right here on The 7 Figure Flipping Podcast with Bill Allen! Bringing you deep-dive interviews and insights on flipping houses and wholesaling real estate, 7 Figure Flipping is the ultimate online resource to accelerate your real estate investing journey. Whether you're new to real estate or you're ready to scale your REI business, you'll find tips, guides, case studies, tutorials, and everything else you need right here. The 7 Figure Flipping Podcast is your "inside look" at what's working in the house flipping and wholesaling world right now. No empty fluff... just actionable, helpful information you can use TODAY!
Rank #1: HFHQ 209: Your House Flipping Formula questions ANSWERED live (Q&A call replay)….
Listen to This EpisodeEpisode 209: Show NotesA few days ago, we opened the doors to House Flipping Formula… which means for the first time this year, we're taking on new mentoring / training students!Woohooo!It's been awesome getting to connect with everyone who has joined the group over the past few days…But I've also heard from some people who aren't sure about joining yet.They have questions about the program.They're not sure if this group is going to be the right fit for them.And they want to dig deeper.I could answer these questions one by one (and I have been)……but I thought, why not jump on a live online hangout and do it there? It'll be WAY more fun answering questions that way, ha ha…So that’s what we did!Last night, the amazing Bill Allen and I got on a live call and answered questions about House Flipping Formula for over an hour straight.And I want to share the replay of that call with you today on the House Flipping HQ podcast!Go check out the replay now……and if you have any other questions that we didn't answer on the call, shoot us an email at firstname.lastname@example.org and let us know!See you on the inside!Links and ResourcesThe doors to House Flipping Formula are closing tomorrow… so if you've been thinking about jumping in, this is your chance to learn more about the group, get to know us, and make a decision! (Time's almost up!) If you’re ready to join HFF, click here to learn more and get instant access!Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while you're at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff! If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 209: Your House Flipping Formula questions ANSWERED live (Q&A call replay)… appeared first on House Flipping HQ.
Rank #2: HFHQ 221: Flipping houses with no money? Here’s how….
Listen to This EpisodeEpisode 221: Show NotesI get this question all the time…“How can I start flipping houses without spending my own money?”That, and…“What’s the best way to find deals?”These 2 questions come up again and again.And it’s easy to see why.These are the things that are on most investors’ minds, whether they’re new to flipping houses or they’ve been doing it for a while.So let’s dig into this.Last October, Andy McFarland went up on stage at Flip Hacking LIVE and tackled these questions and a bunch of others…What to do if you’re just getting started in this business and you have no money…The most efficient and effective ways to find deals…How to make sure you’re not wasting your marketing dollars…The 2 most important parts of any flipping or wholesaling business…And a lot more!I want to share Andy’s presentation with you today.It’s important.And it’s an example of the kind of game-changing stuff that gets shared every year at Flip Hacking LIVE.So check it out…!Links and ResourcesFlip Hacking LIVE 2018 is happening this October 18 – 20 in San Diego, CA… and if you haven’t bought your tickets yet, you’re running out of time. Seats are filling up! We’ve done this event twice… and it sold out both times. So go reserve your spot at FHL now (click here)…Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while you're at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff! If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 221: Flipping houses with no money? Here’s how… appeared first on House Flipping HQ.
Escaping The Real Estate Investing Newbie Zone – Make Money In Real Estate Wholesaling Properties For Quick Cash
Rank #1: ENZ 285 – How he made $9,000 using the Text method strategy with Cory Vickers.
In this episode of Escaping The Real Estate Investing Newbie Zone Chris Bruce talks about how he made $9,000 using the Text method
Rank #2: ENZ 294 – How to Win Big in The 4th Quarter.
In this episode of Escaping The Real Estate Investing Newbie Zone Chris Bruce talks about how to win the big in the 4th
Welcome to the Flip2Freedom podcast. We are beginning a new series, Lightning Fast $5K Formula. Sean will guide you through the process of closing on your first deal and getting you that first $5K in lightning speed. This is a great five-part series for both new and longtime listeners.
Rank #1: How to Sell & Close Your Deal in 10 Days or Less While Avoiding These Huge Mistakes.
Welcome to the Flip2Freedom podcast. We are deep in our series, Lightning Fast $5K Formula, as Sean is guiding you through the process of getting your first deal closed and receiving your first $5K in lightning speed! In this episode Sean goes into detail on what needs to happen to sell your deal in lighting fast speed. If you haven’t gone to Flip2Freedom.com/Gift to get your 1st Check Matrix then go now and get it! If you missed the previous episode in this series, you can find them below: How to Reverse Engineer Your 1st Check How to Get Your Phone to Ring Off the Hook How to Know EXACTLY What to Offer to Motivated Sellers How to Talk to Motivated Sellers and Get the Contract Signed This is an extremely important episode for anybody starting out, OR you’ve been doing this for a while and you just need a refresher.
Rank #2: How to Talk to Motivated Sellers & Get the Contract Signed.
Welcome to the Flip2Freedom podcast. We are deep in our series, Lightning Fast $5K Formula, as Sean is guiding you through the process of getting your first deal closed and receiving your first $5K in lightning speed! In this episode Sean goes into detail on what needs to happen to get the contract signed. If you haven’t gone to Flip2Freedom.com/Gift to get your 1st Check Matrix then go now and get it! If you missed the previous episode in this series, you can find them below: How to Reverse Engineer Your 1st Check How to Get Your Phone to Ring Off the Hook How to Know EXACTLY What to Offer to Motivated Sellers This is an extremely important episode for anybody starting out, OR you’ve been doing this for a while and you just need a refresher.
Michael Quarles is here to help you succeed in real estate investing. Whether you want to learn passive or massive investing, we will cover topics like Lease Options, Subject To, Seller Financing, Negotiation, Rehabbing, Marketing, Presentation, Shortsales, Rent to Own, and Owning Rentals. This show will offer solid information from seasoned investors that you need to succeed. It doesn’t matter if you are brand new to the real estate investment business or are a seasoned investor our podcasts will help you gain the information to be successful. Full show notes for all episodes are available at MichaelQuarles.com
Rank #1: Podcast 387 - *Leaked* Private Coaching Call.
Today’s Podcast Covers In this podcast Michael shares a Private Coaching call he had inside his Apprentice program where he discusses subject to investing and so much more. Strategy Session To schedule a strategy session with us visit: Book Your Strategy Session More Podcasts! Listen to More Podcasts by Michael Quarles! – Click Here Resources Do you have real estate questions? If so please send your questions to email@example.com and Michael will answer them on one of his upcoming podcasts! Looking To Grow Your Real Estate Investing Business? Join My Gold Coaching Program. Text Investor to 818181 Need Direct Mail Marketing use YellowLetters.com Resource For Telephone, Email, Text and CRM – CallText.com
Rank #2: Podcast 370 - How To Find Vacant Properties .
Today's Podcast Covers In this podcast Michael talks about how to find vacant properties, and more! Questions I have a house on the MLS and it isn’t getting a lot of showings however it is listed at the Appraised Value should I lower the value. I am just getting started in real estate what is the first thing I should be doing? I have heard that wholesaling is illegal, is it? How do you find vacant properties? I had a house sold and my buyer backed out. Can I sue the buyer and what about the deposit is it theirs or mine? More Podcasts! Listen to More Podcasts by Michael Quarles! – Click Here Must Haves! Free "I Buy Houses" T-shirt Presentation Cue Cards Presentation Folders And Even More At BuySellFixFlip.com! Resources Do you have real estate questions? If so please send your questions to firstname.lastname@example.org and Michael will answer them on one of his upcoming podcasts! Looking To Grow Your Real Estate Investing Business? Join My Gold Coaching Program. Text Investor to 818181 Need Direct Mail Marketing use YellowLetters.com Resource For Telephone, Email, Text and CRM - CallText.com
Real Estate Investing Unleashed: Quit Your Day Job in 19 Weeks or Less...and Live the Lifestyle of Your Dreams by Discovering How YOU Can Make a FORTUNE Flipping Properties in Your Spare Time with NO Cash or Credit Required Even if Your Just Getting Started Today!Discover Real Estate Investing Tips & Techniques from an Aggressive Full Time Real Estate Investor. Get a Unique Prospective from a Real Estate Mogul that Has Bought and Sold over $120 Million in Real Estate in the Last Several Years. We're dedicated to teaching you not only cutting edge skills but also the mind set necessary to succeed as a real estate investor. We want to Help You Make Money in Today's Market with Real World Case Studies and Success Stories that Prove You Can Make A Fortune in Real Estate Even in a Tough Economic Environment. We Know You'll Love the Show...
Rank #1: F2F 096: $0 to $100K a Month in 18 Months Even if You’re Broke and Have a 480 Credit Score!.
Download Episode 096 Discover the Exact Blueprint to Go From Where Your Are to $100K a Month Imagine learning the exact step by step process for changing your financial future. Now imagine taking ACTION and creating momentum. You’re excited, you’re gaining confidence and Boom, you get that call from the quintessential motivated seller. You now Keep Reading » The post F2F 096: $0 to $100K a Month in 18 Months Even if You’re Broke and Have a 480 Credit Score! appeared first on The Ultimate Real Estate Investing Podcast | Flip2Freedom.com.
Rank #2: F2F 097: [$0 to $100K a Month] Part II – How to Talk to Sellers, Negotiate and Get The Contract Signed in 3 Easy Steps.
Download Episode 097 Discover the Exact Blueprint to Go From Where Your Are to $100K a Month This is Part II of the $0 to a $100K a Month Blueprint. In this episode you’ll discover how to to set up you machine to start taking calls from sellers. We’ll discuss the exact process on how Keep Reading » The post F2F 097: [$0 to $100K a Month] Part II – How to Talk to Sellers, Negotiate and Get The Contract Signed in 3 Easy Steps appeared first on The Ultimate Real Estate Investing Podcast | Flip2Freedom.com.
Real Estate Investor Summit Podcast is focused on teaching others to gain financial freedom through real estate. Interviews with investors, coaches, and instructors who tell amazing stories and give invaluable advice for real estate success. I want our listeners to be inspired to dream big and reach the next level in their business and personal life.
Rank #1: Episode 63: Hud Homes Half Off.
Larry Goins is a Visionary, CEO, Entrepreneur, Real Estate Investor, and Educator. Larry has been investing in real estate for over 20 years. Previously, Larry served as president of the Metrolina Real Estate Investors Association in Charlotte NC, a not-for-profit organization that has over 350 members and is the local chapter of the National Real Estate Investors Association. Larry is an active real estate investor and travels throughout the United States speaking and training audiences at conventions, expos, and Real Estate Investment Associations on his strategies for buying and selling houses. Larry has also written several books on real estate investing that are available wherever books are sold. Larry and his assistant Kandas are also the hosts of the BRAG Radio Show. BRAG is all about using real estate to Be Rich And Generous. Between speaking engagements and mentoring other investors, Larry oversees the daily operations of his investing business that wholesales properties, seller finances properties and holds properties for investment. On a personal note, Larry and his wife Pam have two children, Linda and Noah. He also has a grand daughter, Ember. They are members of New River Community Church in Lake Wylie, SC. As a husband, father, businessman, and real estate investor, Larry holds true to his core values and moral integrity. His personal and business motto is, “People and principles before profits.” What you’ll learn about in this episode: Larry’s book: “HUD Homes Half Off!” What a HUD house is and how to buy them What criteria to search for on the HUD website Why the best HUD houses are in smaller towns Why Larry loves mobile homes and why they work great within the owner finance model Larry’s strategy for bidding on available HUD houses and how he uses VAs to implement Some of the benefits of HUD houses like no deed restrictions Why you should bid on all HUD houses and not just the ones that fit into specific criteria What happens when you are given a counter offer How to handle the HUD paperwork after a bid is accepted Resources: REInvestorSummit.com/hud REInvestorSummit.com/daytrading RebornCredit.com REInvestorSummit.com/capital REInvestorSummit.com/101 REInvestorSummit.com/coaching Love the show? Subscribe, rate, review, and share! Here’s How » Join the Real Estate Investor Summit Community: reinvestorsummit.com Real Estate Investor Summit Facebook Real Estate Investor Summit Twitter Real Estate Investor Summit YouTube Mitch Stephen LinkedIn
Rank #2: Episode 47: The Perfect Day Formula.
Craig Ballantyne is a Productivity & Success Transformation Coach from Toronto, Ontario, Canada, and the author of The Perfect Day Formula: How to Own the Day and Control Your Life. He has been a contributor to Men’s Health magazine since 2000, and his articles have also appeared in Women’s Health, Oxygen, GQ, Maxim, National Geographic, Men’s Fitness and Muscle and Fitness Hers, amongst many others. His articles have also been featured on Inc.com, LifeHacker.com, and Telegraph.co.uk. In 2001, Craig created the popular home workout program, Turbulence Training, and in 2013 he created the Home Workout Revolution bodyweight exercise program. Over 100,000 men and women have used his 6 Minutes to Skinny weight loss system since 2014. Craig is also the founder of the Certified Turbulence Training Program, certifying trainers from all corners of the globe. He holds an annual Turbulence Training Summit every year for fitness experts to become better trainers and get more clients so they make more money and live the Perfect Life. Craig’s online success has led him to create books and a coaching program to show other gurus how to take their ideas and help thousands of people. He holds seminars around the world, and he teaches at the annual SovereignAcademy.org camp every summer in Lithuania. Craig has had to overcome many obstacles on his journey to success, and his toughest battle was fighting crippling anxiety attacks. He finally discovered how to beat them with his 5 Pillars of Transformation, and today Craig shows men and women how to use the 5 Pillars to lose 10 to 75 pounds, get a raise and make more money, find the love of their life, and overcome any obstacle in the way of success. On his website, EarlytoRise.com, you’ll find his daily essays on success, productivity, time management, fitness, weight loss and self-improvement. What you’ll learn about in this episode: How using Craig’s perfect day formula will improve your life Why you need to implement rules into your life The 5 Pillars of Transformation How Craig used the pillars to overcome anxiety (and why they work for transforming any aspect of life) The seasons of life that dictate your #1 priority Why a coach will give you a much faster path to success (and why Craig wishes he hadn’t waited so long to hire one) Craig’s perfect life workshop Craig is offering a free gift on his website-The Perfect Life Beginner Plan Resources: REInvestorSummit.com/Ballantyne REInvestorSummit.com/Live REInvestorSummit.com/noteservicing REInvestorSummit.com/200+ REInvestorSummit.com/Coaching Love the show? Subscribe, rate, review, and share! Here’s How » Join the Real Estate Investor Summit Community: reinvestorsummit.com Real Estate Investor Summit Facebook Real Estate Investor Summit Twitter Real Estate Investor Summit YouTube Mitch Stephen LinkedIn
Want to learn how to invest in Real Estate? Want to work with your spouse but are afraid of driving each other crazy?! Spouses Flipping Houses is all about navigating the world of entrepreneurship together with your spouse or loved one, and taking the necessary steps to make money specifically in the field of Real Estate Investing. Whether you are just beginning to think about getting into the “house flipping” business, or you’re a seasoned entrepreneur with loads of experience, you’ll find the topics, tips, discussions & interviews will provide amazing value to help you take your business to the next level…and to do it all successfully with your spouse or loved one. Oh, and you can learn to do it all without killing each other! In fact, if done properly, we think your relationship will grow stronger in the process. Tune in to listen to Doug and Andrea Van Soest, seasoned Real Estate Investors, entrepreneurs and married parents of 3 who love working together, as they lead you down the path of growing your business and relationship together.
Rank #1: Episode 36: Dave’s First Flip! Questions from a Real First Time House Flipper!.
Episode 36: Dave's First Flip! Questions from a Real First Time House Flipper!by Doug & Andrea Van Soest | Spouses Flipping Houseshttp://traffic.libsyn.com/spousesflippinghouses/SFH_036_Daves_First_Flip.mp3Podcast: Play in new window | DownloadSubscribe: iTunes | Android | RSSShare: Twitter | FacebookEpisode 36: Show NotesIn today’s episode we are answering our close friend Dave’s questions, who recently got his FIRST house-flipping deal! During his process he’s had A LOT of GREAT questions for us. Questions a lot of people probably have just getting started.So today, we will be answering and sharing those Questions & Answers with you, so you’ll have a bit more confidence in getting started and landing your own deals!Episode 36 Transcript Download Episode 36 TranscriptDoug: Welcome back to the Spouses Flipping Houses podcast. We are back for Episode 36.Andrea: After a long and fabulous summer.Doug: Fabulous. It was a great summer. We thought we would take a break for a couple weeks when school got out, you know. Things were kind of busy. We had a couple trips we were going on, and we didn’t know that couple week break would turn into a couple months.Andrea: We just thoroughly enjoyed our summer. I wish I could bottle up that feeling of peace and relaxation that you kind of experience when there’s not as much hustle and bustle, and got to wake up, and go-go-go, and get kids to school, and then work, and then football practice, and dance. It was just so relaxing. Wish we could have stretched that out.Doug: Summer was really full, really fun. Our kids are at an age where, I don’t know. Normally this time of year when summer is coming to an end and school is starting, we start to do the happy dance when school is back is session.Like okay, back to normal kind of schedule. But I don’t know; we haven’t felt that way this year. We want the summer to keep going.Andrea: Yeah, they’re kind of at that age where it was just easier. It was so, so fun.Doug: So they’re back in school now. They started last week, and we are back to normality and a normal schedule, if you will.Andrea: If there is such a thing.Doug: If there is such a thing, but that being said it allows us some time to get back to the podcast, which we’re really excited about. We’ve been looking forward to getting back to record some episodes and getting some more feedback from you guys. So we are back!Andrea: Okay, so this is a little off-topic, but there is no way we can not talk about my current personal obsession. Do you know what that is?Doug: Oh, absolutely. It’s on NBC 24/7.Andrea: The Olympics. Oh my gosh, it’s so exciting.Doug: Yeah, so Andrea was the track star back in her day, in her heyday, and she’s always loved the Olympics, and she has kind of brought me into that too. And we’ve just really enjoyed watching the competitors compete, and just hearing all of the back stories, and watching them, I don’t know, celebrate when they accomplish this feat in their particular sport.Andrea: Yeah the looks on their face when they have worked for years, blood, sweat and tears to accomplish this goal, and they finally accomplish it. And they’re crying, and I’m crying. It’s so cool.Doug: It is. There’s really something inspiring about it, just watching people you know, I don’t know, live out their dream in that moment where they are accomplishing probably their life’s dream. When they are winning the gold, or silver, or whatever it is they’re doing.Pretty exciting. And then there’s the guy who does a false start, and you’re done.Andrea: Oh man, no second chance.Doug: Wow, you know that’s life.Andrea: Terrible.Doug: That’s life sometimes though.Andrea: I don’t know. I think they need to reconsider that rule.Doug: You blew it.Andrea: Let’s have a second chance people. One second chance.Doug: I know. My heart breaks for them, but that’s the way it is. Yeah, the Olympics have been great. We’ve got a cool thing we’re going to talk about today, so we have a friend named Dave. Dave was actually in our wedding.I was roommates with Dave in college, a good buddy of ours who has kind of worked with us off and on over the years. He actually read the book Rich Dad Poor Dad at the same time we read it. We were experiencing life together at that time, and the same thing happened to him.He just got inspired, kind of became entrepreneurial and was wanting to do real estate as well, kind of like we did. Life took us different paths. Dave actually got in a band, got married, traveled around for several years on tour, and different things.But Dave has always wanted to flip houses and has kept in touch with us over the years, and in the last several years he’s actually been living in Hawaii with his family. He’s been following the market, making offers here and there, asking for feedback from us on different deals that he comes across.And we’ll give him our opinion, and he’s just been trying to get into this business. Well, a few months ago Dave got an acceptance on a deal, and the numbers look pretty good. And so he is super pumped that he got his first deal under contract.Andrea: We could not be more happy and thrilled for Dave because kind of like the Olympics, he’s been trying and trying for this and finally got one. It’s so exciting!Doug: And we remember that feeling. We felt like we tried forever making offers, and different strategies, and just hovering around the industry for a long time wanting to just get that first deal. And when it happens, you’re just a wave of emotions, and fear, and excitement, and nervousness that all hit you.Andrea: Yeah, like the, “Oh no, why did they accept it? Was it too high?”Doug: Why didn’t anybody else overbid me? I must have done something wrong. Yeah those questions all come into your head. But through this process of opening escrow and getting things lined up for him to close and begin this project, he has had a lot of questions for us and understandably so.He’s sent us several emails, and we’ve talked to him on the phone quite a bit.Andrea: But the thing is, he had really been studying, and researching, and learning for years. So we realized and would have thought at that point that he knows it all. He’s ready to go, but he still got to this point and still had questions. So it made us realize there have to be other people that have these same questions.Doug: Yeah and you can take seminars, and courses, and really know a lot about real estate investing, and then when you get your feet dirty and get into it, you realize that you don’t know it all. There are questions; there’s always stuff you’re unsure of or that’s holding you up.And that’s just normal, so what we did was took a bunch of these questions that we thought were great questions, probably questions that a lot of people, especially on their first flip, would have.Andrea: Yeah, I think some of them are questions that probably scare people off not knowing how to do these things. So it’s good stuff.Doug: Yeah, so we thought it would be very informational for people, and they might relate to it. So we’re going to get into some of Dave’s questions on his first flip. So let’s go for it.Andrea: Okay, question number one: should I flip in an LLC, a corporation, or something else?Doug: Yeah, so here’s how we start this answer. We are not attorneys.Andrea: Disclaimer.Doug: Disclaimer, we are also not accountants, disclaimer, nor do we pretend to be by any means. But this is a very common question, very common, and a lot of people ask it. A lot of people are wondering what’s the best entity to do business in.What do you set up? Do you do a corporation? Do you do a partnership? Do you do an LLC? Do you just flip in your own name? What do you do?Andrea: We cannot tell you exactly what you should do. We are not telling you exactly what you should do. We’ll tell you what we did.Doug: We’ll tell you what we did and our opinions and thoughts on this thing. First of all, don’t let that question hold you back from even making offers, and that’s the danger here is thinking, I don’t know what company to form or legal entity to have and having that hold you back from even making offers.Don’t let that happen. Just make an offer in whatever. If you only have your own name to start, make it in your own name. Go for deal first. And I want to give kudos to Dave because that’s what he did.He got the deal first, and then he started to wonder what to do next and was asking this question after the fact. That’s the correct order in my opinion, so what we did is set up an LLC here in California to start our first flip.I don’t remember if we had it set up— I think we did have it set up before we actually got our first offer accepted, but that wasn’t that important. And we flipped homes in our LLC for I’d say the first year I think in the business.The reason we did an LLC was we had just heard from other investors. We asked around, and other people had said that it was a good entity to have I think because the paperwork was simple in our state, wasn’t a lot required in terms of the backend. It was fairly inexpensive to do and relatively easy to setup.And it was kind of a layer of protection between you and the actual house, so that’s what we did.Andrea: But…there’s a giant ‘but’ here.Doug: There’s a giant but. And this may be state-specific; I’m not sure. But in California, there’s a thing called the gross receipts tax that applies to LLCs. Gross receipts meaning your total gross sales. Once you hit a certain amount, an extra tax kicks in and in real estate, it doesn’t matter how much profit you make.They’re talking about gross receipts, and prices of homes are pretty expensive, especially in California. So if you have gross sales of a million dollars was I think the first tier, an extra $5,000 you have to pay in taxes regardless of what your profit was. So that’s like three houses here in our area.If you sold three houses, you’ve hit a million dollar gross receipt tax or limit, and then your first $5,000 tax bill kicks in, and then another one kicks in at like a million and a half or two million, two and a half. And it gets really expensive all of this extra tax, so we quickly changed out of that and now we actually flip out of an S corporation.Now that’s us personally. We recommend you seek advice on this; seek legal counsel. Ask an accountant and an attorney if you have those at your disposal because you’ll probably get two different answers from them even based on what’s good for legal liability protection and then what’s also good from a tax standpoint. And you just have to make the decision from there.Andrea: Like I said, don’t let that hold you back. If you get one under contract and you don’t have a corporation set up, buy it in your own name. Do it; figure it out on the next one. It’s not that big of a deal.Doug: Exactly. Yeah, flip it in your own name. Don’t be too concerned about that. Just do the right things. Get your insurance; go forward; you’ll be okay. Figure it out later.Andrea: Okay question number two: What do you call the binder agreement that you were referring to in the purchase? Oh okay, so this is actually Dave’s exact question that he emailed to you, and you had been telling him about how you purchased a binder for each deal that we do, and he didn’t quite understand what that was.Doug: Yeah, so let me try to explain a little bit. Some people might be thinking, what are you talking about? Binder, what? And that’s okay. This is again one of those things that is not essential to know before flipping a house.But typically in real estate when you buy a home, you’re going to get a title policy. We do recommend getting title insurance, and the title company is basically when you pay a one-time fee when you purchase the property. Usually it’s paid by the seller in a normal transaction.Like let’s say you go buy a home off of the MLS with agents involved. At least in California, typically the seller will provide title insurance to the buyer, and they pay that fee based on the purchase price. And what that is, is the title company guaranteeing clear title.So if something comes up later down the road that somebody raises their hand later and says, “No, I have legal right to this property,” for some reason (there’s all kinds of things that could possibly come up), well you’re insured. The title company is going to guarantee that you have clear title, and they’ll take care of any issues from that.So you definitely want to get that but as a buyer, if you intend to resell this house in usually I think a two or three-year period, you can purchase what’s called a title binder policy when you buy the home. So it usually costs about ten percent of whatever the title fee is.So let’s say the title insurance fee is $1,000; then you’re going to spend an extra $100 to get this binder. And what the binder essentially is, is a commitment from that same title company to reissue a new title policy within the two to three year period for the next owner.And typically since you are the investor here, you’re going to be providing title insurance to the next buyer, so that’s usually a fee that the owner would pay.Andrea: That you would have.Doug: Right, that you would have. And it’s based on the purchase price, so let’s say you’re buying a home for $200,000 and when you flip it, you’re going to sell it for $350,000. Well that policy might go from $1,000 to say $1,500 because it’s based on the sales price.But if you have a binder, you’re guaranteed a dramatically discounted rate on the next title policy for the next owner. So I hope I haven’t put anybody to sleep with all of this title talk.Andrea: Basically it saves you money.Doug: The bottom line is it’s a way to probably save $500, $600, $700 when you sell a home on title insurance. That’s it. It’s just a little trick to save money, so if you’re going to be flipping, look into the title binder policy while you’re in escrow with whatever title company you’re using. That’s all; that’s the short answer.Andrea: Kind of long, but that’s okay. Question number three: I am so excited to get going on this project. Do you ever get started on the rehab before you close? Here’s my answer to that.Doug: Bum, bum, bum.Andrea: No! No, no, no!Doug: Absolutely not.Andrea: Do not do that. There are a couple reasons. For one, you don’t want to spend money improving a property that you don’t own because anything can happen before you close and if that transaction falls out, you have just improved somebody else’s property for free. You’re not going to get that money back. Don’t do that!Doug: And you may think, nothing is going to happen. it’s a done deal. We’re moving forward, and everything is set in stone. Trust me, things can happen at the eleventh hour. Title issues can come up that we just talked about.Andrea: Right and reason number two is liability issues. You don’t own that home. You don’t have insurance on it, so just not a good idea. Don’t do it.Doug: That’s right. Somebody gets hurt on the job there, and you’ve got a real mess on your hands. Now it’s somebody else’s property where your person that you hired got hurt. It’s just a big mess. You don’t want to mess with that. It’s not worth the risk. Just be patient.I understand he’s anxious. He’s ready to get going, wants to get a jump-start. Time is money. We get that. Just line everything up, but don’t start doing work. Don’t start putting money into the house before you own it.Andrea: Okay question number four: What steps do I take to record the DOT (or the Deed of trust) and note for my lender?Doug: Okay so another good question.Andrea: Is this one going to be a snoozer?Doug: It might be, so grab a cup of coffee real quick while I explain this, DOTs or deed of trusts, now in some states it might be called a mortgage. In some states it’s called a deed of trust. I don’t know what it’s called in your particular state, but here in California when you lend money on a property and you’re getting security for that money you just lent, you get it in the form of a deed of trust against the property.And I think in Hawaii it’s the same thing. So to flip houses, we use private investors’ money a lot, so people that we know will invest money with us, and we’ll pay a rate of return. And in return for their money, they’re getting a deed of trust as security for that note just like a bank would, any bank that’s lending money to anybody.So Dave is also using private investors to fund this deal, and he’s wanting to know the process. Hey, how do I record this deed of trust for my lenders? Well there are two ways this can happen. The first way is in escrow. In your typical escrow process (or if your state doesn’t have escrow, you’ll use a closing attorney), you can actually have them handle all of that.So your private lender will fund the title company or the escrow company. They will handle all of the paperwork in terms of writing up the deed of trust and making sure that it gets notarized properly, and then when it all closes, they’ll go record it for you and handle it on the exact same day that the property closes.That’s kind of the easiest way. Now there are some scenarios, and I think that was the case here with Dave, where his offer was a cash-offer. And he was afraid to upset the escrow process and the seller by trying to have the escrow company record a note and deed of trust in the escrow because now it looks like there’s a loan on the property— which technically there is— which doesn’t meet the terms of the cash deal that he had offered.So he didn’t want to do that, so he was going to do it outside of escrow. So if that’s the case, the process is pretty simple. Basically you want to have your private lender get the money to escrow however that happens, either they wire it directly to them or they send it to you and then you send it to the escrow company.And then you want to have the deed of trust drawn up yourself. Now you may not know how to do this, and that’s okay. I would get online, and you can go to any title company’s website for your state, and they have the forms available for you right there with little fill-in-the-blank spots.You can fill them in, have a notary, a good one, look it over. Make sure it looks good, and then get the deed notarized, and then after the property closes you just walk it in to your county recorder’s office (search that in your area). Walk it in to the county recorder’s office; get a number; they’ll call you up to the window and say, “I want to record this deed of trust against this property.”They’ll look it over and if there’s anything missing, they’ll let you know, and then you might have to come back and make sure it’s properly filled in. But it’s pretty simple. Just figure that part out. There’s not too much stuff to get hung up on there.So that is the other process, and that is what I told Dave to do is do it yourself. Walk it in; make sure it looks correct. If you have a friendly title person who wants to look it over for you, that would be even more helpful just to make sure you filled in all of the numbers correctly and everything.Are you bored over there?Andrea: A little bit.Doug: Sorry.Andrea: We’re like peanut butter and jelly babe. I’m so glad you handle that side of things. The next two questions are not nearly so technical, so that’s why I’m answering them, and I just tuned you out right there because you got that.Doug: Well and you’ve got the right mindset, like the bigger picture you know. Hey, does the deal make sense? How’s the rehab going to be? Let’s get that thing sold, you know. But some people, me included, are kind of analytic and get hung up on these things like, oh I don’t know this process. This is confusing to me, and therefore if I don’t fully understand it, how am I ever going to do this deal.You don’t need to fully understand it. Just kind of have the bigger idea, the big picture in your head and then once you’re in it, then you figure it out. Like Dave’s doing here, asking questions: “Hey, uh I forget. How do we do this?”And this is nothing new to Dave. He’s worked with private investors a lot, so these little details he just didn’t do or didn’t know because he’d never really done it. So good questions that a lot of people will have, and just don’t get hung up on them.Andrea: Yeah. Okay question number five. I’m going to try to make this as understandable as possible to someone that did not read the entire email, just kind of a snippet of several questions, so he says, “Right now my running costs are about $30,000.” I’m thinking that means his total budget or what he’s spent so far.Doug: Yeah the total he’s spent so far.Andrea: Okay, “the major purchases left are windows, about $2,000. I decided I needed to do them because a lot of them were broken, and a flip across the street just put in new windows. I still have flooring to do that will be about $1,000 for material, a 12×12 concrete patio for $1,000, a new front door for $300. I still have to also do landscaping and gutters, so probably about another $5,000-6,000 that I need to spend on top of the $30,000 that I’ve already spent. So how do you know when you’re overspending?”Well I would say that depends on a lot of things. You really need to make your flip project clean, and functional, and competitive with your comps. That’s your goal: clean, functional, competitive. If you meet those goals, anything beyond that you’re probably overspending.So I feel like you’re on the right track Dave. Windows, if they’re broken, you’ve got to fix them. Flooring, got to have flooring; you already ripped out the other stuff, so you have to put in new.Doug; That one is kind of essential.Andrea: A concrete patio 12×12, that’s not crazy so that’s good. And then a new front door for $300, I think that will be a good $300 well spent, so I don’t feel like you’re overspending. I know you, and I know what you’re doing Dave, and I know you’re watching your comps, so for you I’m not worried about it.I know that you’re doing just the right thing, but I think that’s a really great question. People probably get into the thick of it, and they’re watching this money go out and wondering, oh shoot. Am I overspending? But if you are making that property clean, make sure everything works, and you’re competitive with your comps, then you’re not overspending.Doug: Now if his question would have been worded like, “There’s some other things I want to do like this water fountain feature in the front yard that I think will just be a really cool thing. Or a brand new vinyl fence all the way around the front yard would make this house sell.”Those are a little bit more of a question mark because now you’re talking about things you might not need to do.Andrea: Right, then I’d say, “You know what? You might be overspending.”Doug: Yeah and again, Andrea hit it on the head. It’s all about the comps and the neighborhood. Look at what has sold for the price you’re looking to sell for and ask what they had.If you can meet that and exceed it by just a hair, you’re way ahead of the game. Don’t do unnecessary expenditures for things like big water features and custom stuff that you won’t get the money back on what you spent there.Andrea: Right. Alright, question number six is our last question: For some reason, I thought I needed to match the exterior base color that was existing, which was blue. So I purchased a color-matched color (he said more words than that, but I’m trying to be concise here).So I purchased a color-match type of paint basically to match the existing color that was already there, but I was looking back through a lot of your before-and-after videos, and I realized that you guys mostly do neutral beige colors and grays. So should I spend the extra $180 to get another five gallons of a neutral color or basically use what I’ve already got?So the reason we threw this question in there, because I know it seems kind of simple, but these are the things that people get hung up on. And really, colors are not that big of a deal. So we tend to go with neutrals a lot of the time because you want to turn off the least amount of buyers as possible, and a neutral color is pretty much guaranteed to do that.Doug: You’re trying to appeal to the masses.Andrea: Right, with a bright blue you’re going to have a larger percentage of people that dislike that than a nice gray tone. So that’s why we tend to do that, but you know, he lives in Hawaii. Maybe blue is really exciting there— I don’t know.We do use a lot of neutrals but in a property we just did, we just did a bright blue house actually because it’s really cool and perfect for the neighborhood.Doug: Yeah it’s like a historic area that has kind of different colors going on, so maybe that’s this area. I’m not sure.Andrea: As a rule of thumb, I like to keep the base color of a property neutral. If that’s going to cost you $180 to do that, that’s nothing. Spend the $180 right, but it really depends on your comps. If the blue is okay and there are other bright, funky colors in the neighborhood because you’re in Hawaii on these islands, then sweet. Save the money and go with what you got.But if you want to be safe, I love a neutral color with a bright front door because people can see past the color on the front door. If they don’t love it, they know that it’s a super simple fix. But a lot of people can’t see past a color they don’t like on the entire exterior of the house.Doug: Yeah, and there are some colors that just make the house seem a little smaller maybe or if it’s definitely an odd color for the neighborhood like you mentioned, you want to avoid that. You’re trying to appeal to the greatest amount of buyers as possible. So yeah neutral colors are typically what we use, but in his case this blue might be okay.Andrea: Right, yeah I think it’s kind of fun.Doug: So great questions Dave, we’re super excited to see how this property turns out. I think he’s just about to wrap up the rehab here in the next week, so we’ll definitely check back in with him and see how it’s going throughout the process. We certainly wish him the best, and I’m excited to see how it goes.So that’s it for Dave’s questions. We will probably get some more later and maybe do another episode like this. We wanted to remind you that we are speaking at Flip Hacking Live in San Diego if anyone is going to be down here and wants to learn about real estate investing.It’s going to be a great event, so if you’re interested in checking that out or getting some tickets, go to SpousesFlippingHouses.com/FlipHack.Andrea: And if you are a social media person, you can follow us on Instagram and Facebook at SpousesFlippingHouses.Doug: Lots of good pictures of things going on throughout our business.Andrea: Well we shouldn’t say lots.Doug: A few.Andrea: I’m trying to remember to post more stuff. I’m one of those people just living my life. I don’t stop and think, Hey, I should post this picture of me doing this thing. I’m just doing this thing! I’m trying to get better because it’s kind of fun to share the process, and the photos, and the before-and-afters, and that kind of thing.Doug: Yeah, so check us out there, and we will I guess talk to you next week.Andrea: Talk to you later.Did You Like this Episode? Subscribe!If you would like to learn more information from our Podcasts, check us out on iTunes & Subscribe. Also consider leaving us a rating (5 stars would be great) and a review would also be helpful so others can learn more about us and get in on our upcoming episodes.For questions or comments please fill out the comments area below and we’ll answer them. Thanks!Subscribe HereSubscribe here to receive instant notifications of new episodes straight to your inbox!Success! Name Email CLICK HERE TO GET STARTED The post Episode 36: Dave’s First Flip! Questions from a Real First Time House Flipper! appeared first on Spouses Flipping Houses.
Rank #2: Episode 4: How to Rehab a Property for MAXIMUM Profit!.
Episode 004: How to Rehab a Property for MAXIMUM Profit!by Doug & Andrea Van Soest | Spouses Flipping Houses Podcasthttp://traffic.libsyn.com/spousesflippinghouses/SFH_004_-_How_to_Rehab_a_Property_for_MAXIMUM_Profit.mp3Podcast: Play in new window | DownloadSubscribe: iTunes | Android | RSSShare: Twitter | FacebookEpisode 4: Show NotesIn today’s episode we get to hear from Andrea, the design expert in our business, about rehabbing a house for MAX profit. Andrea has years of experience rehabbing properties and working with contractors and has mastered the art of repairing and upgrading a property to the optimal degree for maximizing your profits.Andrea will share what are the most important areas of a house to focus on when doing a rehab project.She also shares a great tool for how she manages and keeps track of the different material selections for each rehab project and the system she uses to keep track of it with the contractors.Here are a few takeaways from today’s episode: Doug and Andrea talk about the importance of Gratitude in all aspects of life & business. Understanding the rehab condition of the “comps” Andrea goes into detail on the “5 main areas” to focus on for Max profit! What gives you the most “bang for your buck” in a rehab. Working with your contractor and keeping things organized. Resources mentioned in the show: Doug and Andrea use the Gratitue365 app to journal things that they are grateful for. http://gratitude365app.com/ Andrea mentioned she uses Podio as a tool for working with your contractor. There are SO many other benefits to using this as a Contact Relations Management system. We run our entire business out of this software. http://Podio.com. Episode 4 TranscriptDownload Episode 4’s TranscriptDoug: Hello and welcome to episode four of Spouses Flipping Houses, thank you thank you for joining us, we’re really excited to get into it today. Andrea, how are you doing over there?Andrea: I’m doing good, how are you?Doug: Today I’m great. I’m actually very grateful. I’ve had a theme of gratitude in our household in the last week or so, and I’m just really grateful today. I’m grateful that here we are, you and I, middle of a weekday, we’re sitting here in our home office slash recording studio [chuckles]–Andrea: [chuckles]Doug: — recording a podcast about topics we love, and we’re going to go to lunch after this… and I’m just grateful. This business has allowed us to do that. I get to work with my best friend, my spouse, every day, and I absolutely love it. And we have things coming up that we get to go to because our schedule is flexible.And I just think back to when we were initially wanting to get into business for ourselves and the reasons that we wanted to do that, and it wasn’t necessarily trying to create some certain amount of income per year for our lifetime or anything like that, it was more about the freedom. Freedom that working for ourselves, having our own business, would allow us to have. Freedom of schedule, freedom of lifestyle.We never wanted to miss one of our kids’ sporting events or dance recitals for the world. They are a priority for us, those kinds of things. And we get to do that and experience that, so I’m very grateful.Andrea: Me too. I’m glad to hear you say that. Actually on our website, we have an e-book that’s “Eleven Tips for Successfully Working with Your Spouse”, and that is one of the tips that I have listed in there, and I really feel like it’s probably the most important one.Because if you’re focused on what’s negative in your life, then even the good things aren’t going to seem that good to you. So focus on what’s good.Doug: Absolutely.Andrea: And those things will just become more evident. All the good things will come to light. I think it’s so important. There’s actually been research studies that prove how it improves your physical health, your immune system, it improves your overall psychological health, the way you socially interact with people…Gratitude is just huge, it’s so important. There’s actually apps you can use– Doug and I both actually use this app called “Gratitude 365“…Doug: Yeah, it’s called “Gratitude” — let me just verify that, but I believe it’s called “Gratitude 365”, is that what it’s called? Yeah. And it’s just a very simple app — it’s a journal. It’s a gratitude journal. There’s a spot every day for you to jot something down, or put a picture in or a video, of what you’re grateful for that day.And so I’ve been doing that for about a year and a half and Andrea’s been doing it for a while now, and it really is true, shifting your mind into that mindset of being thankful for the things that you have, even when everything else seems to be going wrong, focus on the things that are good in your life. That are positive. And just so much good comes from that. So, yeah. Grateful.So today, we’ve got a really exciting topic. Today’s topic is how do I rehab a property for max profit? And we’re fortunate enough here to have a resident designer across the table from me, Andrea is an interior designer, she’s also a realtor, and she — in our business — she heads up working with our contractors, and basically deciding what happens with each house.What are we going to do to it? How are we going to rehab it? What things are going to change, what aren’t?Based on trying to maximize the profit, because this is a business that we’re running. So, she’s really good at that. Andrea’s got a lot of interior design training, she’s got a lot of experience in that field, she’s always been super creative, and has a great eye for design and what people like, and what people are looking for. And our house gets to benefit from that, thank you. [laughs]Andrea: [laughs]Doug: So we’re really excited to let her take the reins on this episode today, and go into rehab zen, and how we do it and what we look for, and some good tips for doing this for maximum profit. So, Andrea, take it away.Andrea: First of all, thanks babe. [chuckles]Doug: You’re welcome. [chuckles]Andrea: I appreciate it. Okay so, I think that the most important thing in fixing a house for max profit is that your house has to be as good or better than your comps’. Everything else I’m going to tell you from this point on is all relative based on this one’s point. Your house has got to be as good or better than the comps’.So, if all the comps in the neighborhood have dirt backyards, then you probably don’t need to go put in an expensive sprinkler system and sod. You could probably get away with having dirt too, and save some money there. If all of the houses that you’re comparing to have granite counters and stainless steel appliances, and a custom backsplash, well, guess what? You gotta have those things, too.Doug: How would I know what my comps have?Andrea: Get on RedFin or the MLS, whatever you have access to, and scroll through their pictures, basically. You just gotta look. And don’t take the realtors’ description for it. It might say, “awesomely rehabbed house”, no, look through their pictures, because maybe it was not awesomely rehabbed. And so you don’t have to do as much, just be better than what that other person did.Doug: A lot of realtors are very good at using words like “cozy”. [laughs]Andrea: [laughs]Doug: To describe a really small house. Things like that. So yeah, don’t take all the wording. Okay.Andrea: Okay so then yeah, my next tip is: fix what’s broken. Don’t try to hide things, it’s going to come out on an inspection. And it’s kind of a given. You need to fix what’s broken. If the air conditioning doesn’t work, you need to fix it. You want to have a good name in this business, you want to sell somebody a good product, so first and foremost, fix everything that’s broken.Doug: And it’s just going to cause you a headache later if you don’t. Because it’s going to come back, people are going to be upset…Andrea: It’ll stall the escrow process.Doug: Yeah. So very good tip. Those things that are essential in the house that are broken, gotta be fixed, even if they’re not aesthetic things that you see… need to be repaired.Andrea: Right. Okay so next, you need to solve any problems that the house might have. So what I mean by that is, if the house feels closed-in, you need to make it look and feel more open.People want that open-concept house nowadays, and a lot of homes that were built a long time ago, everything is sectioned off in these small little compartments, so if you can go in and find ways of opening up walls, painting things a lighter color, lighter flooring, whatever you have to do visually to make the house feel more open, that will benefit you — in my opinion, it’s a problem for the house to feel small and closed-off, so that’s a problem you need to solve.Doug: Yeah this is huge, because openness is so important. Today everybody wants an open floor plan, open house, that feels bigger, and if you go to the projects section of our website, you can actually see some of the before and after slideshows of a lot of our homes that we do, and you’ll notice if you look in there, some of the floor plans have dramatically opened up, and the rooms look bigger in the after pictures, because, you’re very good at this. Taking walls down that aren’t necessary there, and…Andrea: Well thanks babe. Another problem that you might need to solve is functional obsolescence. And this is something that an appraiser can actually take away value for if a house is functionally obsolete. So what I mean by that is, if you have to walk through a bedroom to get into another bedroom, that is functional obsolescence.We had a house recently that we had this situation on in Redlands, it was a tiny little house, it had only two bedrooms, but you had to walk through one of the bedrooms to get to the other bedroom. Who wants to live like that? It’s just weird. [laughs]Doug: [laughs] Yeah.Andrea: So we were able to restructure the house, and make the living room in the middle separate the two bedrooms, you’ve got to get a little bit creative, but that is definitely a problem, and you need to solve it.Doug: Especially in older homes, that’s a pretty common problem.Andrea: Yeah.Doug: You’ll have that a lot, you’ll have to walk through a kitchen to get to another bedroom, or vice-versa like you said. So if you can solve that, that’s a huge win for your property.Andrea: Another problem that we often have to solve is that in the 1950s, they put the laundry hookups in the kitchen, so that the housewife I guess could be all —Doug: Hey, you could be doing all of it, right?Andrea: — doing everything at once, yeah. Well nowadays, nobody wants their laundry room in their kitchen. They don’t want to look at their washer and dryer while they’re cooking, they want their kitchen to be visually pretty.That’s kind of what’s important to people these days. So we always look for a way to move that out of there, if at all possible. We’ll at least put it in the garage if we can’t put it somewhere else in the house.Okay, so my next tip is, keep it neutral. You cannot get personally attached to a flip property. I think a lot of new–Doug: But I like hot pink!Andrea: [laughsDoug: [laughs]Andrea: I think a lot of new investors make this mistake and get really hung up, especially if they’re doing the work themselves, is thinking about the house the way that they would want it to be. And you really cannot do that. It’s not financially a benefit to you to do that, you’ll end up probably spending more money. You need to just keep it neutral.Doug: Unless your style is totally neutral. [laughs]Andrea: [laughs] I guess that would be the exception.Doug: [simultaneously] Vanilla.Andrea: So you may love red, but not everybody may love red, so you want to stick to tans, and gray color palettes. Light gray is really big right now.Doug: Yeah, earth tones…Andrea: Yeah. Well the “greige” [phoenetic: “GRAY-je”] sort of tan-gray…Doug: “Greige”. [chuckles] Did you make that up? I like that.Andrea: No I didn’t.Doug: Oh okay.Andrea: I wish I could take credit for it, but no, not me.Doug: “Greige.”Andrea: Yeah, tan or gray, people really like those gray color palettes these days, so I’d say keep it neutral. And don’t overlook the small things. And by small things, I mean mostly flooring and paint. We pretty much, even on a simplest fix, we always do paint and flooring. Because that makes the whole house feel fresh and new.Doug: Yeah, absolutely.Andrea: Just because the walls aren’t scratched up, or they’re not too dirty–Doug: Right.Andrea: — They need to be fresh.Doug: Maybe that tile flooring is thirty years old, but it’s in great condition… doesn’t mean you want to keep that tile floor. Unfortunately.Andrea: That’s just not what people want these days, and you want your house to be the one that sells the quickest, so that you’re not having all of your carrying costs… so just do it right in the first place.Doug: Yeah, when people ask me, “what’s the biggest return I can get?” or bang for your buck in terms of rehab, I’ve always told them as an appraiser, “carpet and paint”. Or, “flooring and paint”.Andrea: Mm-hmm.Doug: It’s going to return you back more than just about anything else, in my opinion.Andrea: I would say that the five main areas of a house that you want to pay attention to are the kitchen, the bathroom, paint and flooring, and curb appeal.Doug: Definitely. Definitely. Yeah, kitchens and bathrooms on the interior of the home are the rooms that people would look at when they’re going to see if a home has been quote-unquote “upgraded”. And that’s the sizzle.Andrea: So if you have it in your budget to upgrade anything beyond the paint and the flooring, you want to put your money in your kitchen, and in the bathroom. A lot of times if we don’t have it in our budget to do new cabinets, we’ll paint the cabinets white, the ones that are already there, and we’ll add some new hardware on them. They almost look new.Doug: Yeah, they can almost feel like new — yeah, exactly, almost feel like new cabinets. We do that a lot in the homes where the cabinets read their condition.Andrea: And if a kitchen is smaller, painting the cabinets white makes it feel so much bigger and brighter, and just like a cheerful space.Doug: Right. Definitely.Andrea: Same thing with bathrooms. If we can’t afford to replace the vanity, we might paint it, so that it feels fresh.Doug: Yeah, paint it… a lot of times, you’ll have maybe some tile in the shower wall that is in good condition, you can just re-glaze it, or– it’s almost like a paint, but it’s a shower grade paint that is waterproof, and you re-glaze it white, and maybe just– what we do a lot of times is, what, we change out a whole strip?Andrea: Yeah, we’ll just pop out a whole band strip, of the existing tile. We’ll glaze the rest white, and then put in a new band strip of glass tile or something decorative.Doug: Makes the whole thing feel new.Andrea: [simultaneously] It looks brand new.Doug: Yeah, if you’re on a budget, then that’s a really good way to do it in the bathroom.Andrea: And then, curb appeal, that’s kind of self-explanatory; don’t break your budget on the curb appeal, but if you have it in your budget to do new exterior paint, that’s awesome, if you don’t, a lot of times, we’ll just paint the trim — sometimes just painting the trim white, or adding some shutters, makes the whole house feel like a new property.Doug: Yeah. And again, knowing what your competition is on this as well. So if everybody’s got dirt front yards, depending on your area, it may not be that important that you go completely fully landscape the entire yard of the house, but in most cases at least having a little green grass…Andrea: Mm-hmm. Oh absolutely. And you want to add the bare minimum, you want it to be clean, cleaned up.Doug: Clean, yeah.Andrea: Maybe a few little plants in the planter but you don’t have to go crazy, it doesn’t have to be like HGTV where they do this whole big amazing landscape– you don’t have to do that, it can be minimal, as long as it’s clean and fresh-looking.Okay so my next tip is on staging. Some people choose to stage their properties, some people choose not to, obviously it’s always a benefit if you do it, but sometimes it’s not in your budget.We generally don’t pay a stager to go in and do a full staging, unless it’s a very expensive property like this one we talked about, the mid-century modern, we paid a professional stager to go in and do that.Doug: Full staging can run five, ten, fifteen thousand dollars depending on what you do.Andrea: Yeah. And absolutely, they do a beautiful job, they make the house look so great, but that’s not always in your budget. Most of the time I would say it’s not in your budget, you don’t want to spend your profit, really, on that.Doug: Depends on the house, depends on the price range of the property, but yeah, for the most — go ahead.Andrea: Yeah. So what I like to do is something I call basically a semi-staging. So I have– just because I love this stuff–Doug: [chuckles]Andrea: — a garage filled with staging supplies —Doug: Oh, you love it. [laughs]Andrea: [laughs] So I’ll basically just stage the kitchen, bathrooms, and the fireplace mantle and hearth if it has one. So nothing major, nothing over the top. I’ll put a bowl of lemons and some plants and some different things like that, maybe some plates in the kitchen, just to add some color, and to make it feel homey to a person, to help them visualize themselves living there.Same thing in the bathroom, I’ll put out a pretty soap dispenser and a flower on the vanity, and a picture and a towel, and just that is enough to bring a little bit of life to the bathroom. You can do a very beautiful job of tile and flooring and all of that, but those little bit of staging items really does bring life to those rooms. I feel like it adds a lot. You don’t have to do it, but—Doug: Yeah, psychologically, it does something to the buyer.Andrea: Yeah.Doug: If you ever walk through those model homes, and it’s completely laid out, I don’t know, psychologically you feel like, “oh, I’m at home here, this is comfortable to me.”Andrea: Yeah, it helps a potential buyer envision themselves living there. And that’s kind of your goal. And really, any little thing you can do to help your house be the one that sells first, if you have maybe five other houses that you’re competing with, that are all active, you just want to set yourself up for success, and do whatever you can do to make your house sell first.Doug: Yeah, again, it comes back to being as good or better than your competition that’s out there, and this is all part of it.Andrea: Yeah. Mm-hmm. So then okay, my last point is that you need to find what works for you, and stick with it. Now, as an interior designer, this absolutely kills me to say, I hate it, but it’s true. From a business perspective, it does not benefit you to be running all over town hunting down specialty tiles and specific granite slabs that are just perfect, you are running a business, and you need to have systems in place, and you need to be able to replicate and–Doug: Scale. Yeah.Andrea: Yes. And so in order to do that, you might find a couple of color schemes that work for you. Let’s say, if we do white cabinets, then we do this color granite, we do this color backsplash, we do this flooring. If we do dark cabinets, then we’re going to do this color backsplash, this color granite, and this color flooring.Maybe you have two set-ups, maybe — we usually have probably four. And I can tell my contractor, okay, we’re going to go with this one, we’re going to go with that one, and he knows exactly what it is. And we’ll talk about that here in a minute, how we work with a contractor on all of this.But you really need to find a couple of things and stick with them. And then I would say, go in every couple of years and revise that.Doug: Just update it.Andrea: Yeah, it needs to be updated so that — you know, we don’t use the same granite that we used three years ago, because it’s kind of outdated. Now we use actually a lot of quartz. So, you’ve gotta stay fresh with it, but don’t waste your time on every single house, especially for just those average neighborhood homes.Doug: Yeah I was going to say, this is obviously going to depend on what type of homes you’re rehabbing. If you are in a completely custom area that demands this type of attention, which we occasionally will do a house like that, like a mid-century modern home, or something that–Andrea: Yeah, we did one actually recently, out in the desert that was a mid-century modern and it had to be spot-on mid-century modern. So I went out and chose everything…Doug: [simultaneously] Yeah, very particular details for the, yeah, finishes in there.Andrea: Mm-hmm. And we had another one in San Diego that was kind of an up and coming neighborhood, a little bit higher price point, we knew it was very much like a hipster, trendy neighborhood, and so we tried to appeal to who the buyer was going to be for that specific property, so we went outside of our typical four system plan and we had it totally custom and awesome.We’re doing another one that’s a historical one, obviously, you’ve got to go within the boundaries of the Historical Society, and that one’s going to be totally custom too.Doug: Yeah.Andrea: But for your regular, average neighborhoods, if you can have a couple different specific plans that you use, and you can just tell your contractor, A, B, C, it’ll make everybody’s life so much easier.Doug: It’s going to save you so many headaches and so much time, if you do it that way and systemize it.Andrea: Yeah.Doug: Yeah.Andrea: So…Doug: You mentioned working with your contractor, we have a special way do that, great tools, go ahead and talk about that.Andrea: The tool that we use, and I’ll have Doug explain it actually because he set it up, but we use something called Podio, and this makes our life–Doug: Love Podio. [chuckles]Andrea: — so simple. In so many ways. But within Podio, there are so many things you can do. We’ll probably have a future episode that is all about Podio. But within Podio, we have a separate category for working with our contractor. So go ahead, Doug, tell us how you set that up.Doug: Yeah so Podio is — it’s just a contact relations management, so it’s an online software that we use to systemize and manage our entire business operation. It’s very customizable, and it’s easy.I’m not a techie by any means, but I’ve fallen in love with Podio, because you can customize it to whatever it is your needs are. So, we have a specific workspace within Podio just for our contractor and for Andrea.And to make it quick, basically we’ll just set up specific projects in there, like, “Elm Street House” for example, and Andrea can just click and drop all these different items that she has saved that we talked about before like, a cabinet color, a countertop type, a backsplash tile, a wall color, and maybe a roof shingle, things that we use in succession with each other, and in a matter of a few seconds, click and drop those into that project, so that the contractor, who has access to that as well, can see exactly what she’s chosen…Andrea: I’ve got the SKW numbers, everything’s in there. Every item I’ve already put in.Doug: [simultaneously] It’s already been pre-uploaded. Yeah.Andrea: Yeah I only have to put it in once, and then I can use those every time.Doug: Yeah, so there’s different ways, we used to just send an e-mail every time and it would be custom– we’d have to re-write it every time, I’d like this, I’d like this, I’d like this, and then the e-mails get lost amongst a thousand other e-mails, and it’s hard to keep track of what you even said you wanted for that house.This is a really good way to keep each other accountable, the contractor can make comments on it, he can upload photos after it’s done, put it in there immediately from his phone…Andrea: I can upload photos to show, look, this is the tile that I want, but this is how I want it laid out. And so within our Podio workspace, he is assigned – our contractor is assigned specific tasks, so he goes in there and checks off when demolition’s been complete. And then I’ll get a notification, okay, demo’s been done. And then, the kitchen’s complete. I’ll get a notification of that.So it gives me these progress reports as we go along, so I know what status should be of each property, and it saves me the time of always having to drive around and check on things. He’s constantly giving me updates of what’s going on. So invaluable.Doug: Yeah. Great tool. Great tool.Andrea: So that’s pretty much it for today. To recap what we talked about, what Doug just said, make sure that your house is fixed as good or better than your comps’. Fix what’s broken, solve the problems, keep it neutral — remember those five main areas of the house, the kitchen, the bathroom, paint, flooring, curb appeal, stage if it’s in your budget, or you can do it yourself, a little DIY staging goes a long way, and find what works for you, and stick with it.Get your couple color scheme plans, and stick with those for a period of time until you decide to revamp it. It’ll save you time, it’ll save your contractor time, and your houses will look great because you know that those are proven color combos that you’ve already used, and it works for you.Doug: Okay that’s it for today. Thank you so much for joining us, I hope you got a lot of great information out of today’s topic. We want to encourage you to head to our website: spousesflippinghouses.com. Go check it out. Big picture of Andrea and I in the front of it. [laughs].Andrea: [laughs]Doug: Little too big, maybe. [laughs]Andrea: Yikes. [laughs]Doug: Got two great free gifts for you there. One is an e-book, “Eleven Tips to Successfully Working with Your Spouse”, one of those tips which we talked about at the beginning of the episode and there’s great information there.The other gift is a video course that I put together on how to analyze a deal in today’s market. Packed full of good information, I think you’ll get a lot of value out of it, and we just encourage you to connect with us on our website.Andrea: Also we would really appreciate it if you would head over to iTunes and leave us a rating and review. That would be awesome. We would really appreciate it. You can also — if you have any questions, if there’s anything that you would love to hear us talk about, head over to our website, or you can e-mail us, and shoot us your questions, we would love to get to know you.Doug: Looking forward to connecting with you. Thanks again for listening.Andrea: Have a good week.Did You Like this Episode? Subscribe!If you would like to learn more information from our Podcasts, check us out on iTunes & Subscribe. Also consider leaving us a rating (5 stars would be great) and a review would also be helpful so others can learn more about us and get in on our upcoming episodes.For questions or comments please fill out the comments area below and we’ll answer them. Thanks!Subscribe HereSubscribe here to receive instant notifications of new episodes straight to your inbox!Success! Name Email CLICK HERE TO GET STARTED The post Episode 4: How to Rehab a Property for MAXIMUM Profit! appeared first on Spouses Flipping Houses.
Flipping Junkie is a podcast for people addicted to flipping houses and real estate investing. Danny and Melissa Johnson started flipping houses over 15 years ago and have chronicled their journey to help house flippers both new and experienced. Subscribe for weekly episodes featuring interviews with people just getting started as well as big name investors like Brandon Turner of Bigger Pockets and Justin Williams from House Flipping HQ. The podcast covers a range of topics like what is working today to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determining repair costs, finding contractors and managing rehab crews, what improvements to make and how to quickly sell your houses for big profits and so much more. Don’t worry, we won’t leave out the serious mistakes that you need to avoid when get starting and growing your real estate investing business. Join Danny Johnson to get the inside scoop on how to get started and how to stay successful to create true financial freedom for yourself and your family.
Rank #1: 91: [Finding Deals] Landing Your First Flip Deals with Mike Newby.
Mike is brand new in the investing world but brings a construction engineering degree, and 10+ years of construction background, knowledge and business sense. Alongside him is his beautiful wife, Sarah, and loving father, Jim, who have helped get their real estate investing company, Newbyginnings, off the ground and now full steam ahead. They have big dreams for the company and hope to help thousands of families create their new beginning. Mike is also currently a full time construction consultant and his wife is a full time cardiac ICU nurse at a local Children's hospital. When Mike started studying real estate investing, it only took him about 6 - 8 months for him to make the decision to jump into the industry. Mike found a wholesaler and got his first deal done. With a good foundation and knowledge base, he was confident in working his first deal for his real estate investing business. Where so many people give up before they hit this point, Mike kept going and is working everyday at making his business a success. As soon as he decided to get into real estate investing, Mike found a wholesaler posting houses on Instagram. He sent a message, got into communication with someone on this wholesaler’s team, and started communication. This group has a wide range of buyers, so they were eager to talk to Mike. They walked through a few houses, and on the third property Mike made a bid and got it. It took 2 or 3 weeks staying in communication with this wholesaler before the property was Mike’s. What a great first deal! For more connections, Mike has been networking in the Flip Pilot group on FaceBook. Finding other wholesalers is the key to starting up a successful real estate investing business. With both Mike and his wife still working full time jobs, and being full time parents, wholesaling felt like an easy way into real estate investing. As long as the numbers make sense, there’s no reason not to jump into it. There’s a perception that wholesale deals don’t have much meat on their bones, but that’s just not true. Mike’s rule is 70% is the golden number. In his market, that’s tough to get, but you can expect to be around 80% - 85% ARV minus repairs. BiggerPockets has an ARV calculator, but Mike made his own in a spreadsheet to keep track of his numbers. With his spreadsheet, he determines if the numbers work for his marketing and business. This is the spreadsheet Mike uses, so if you decide to use this method, be aware that your numbers need to reflect your market. For Mike’s first deal, Mike went through 2 wholesalers. Despite them both taking their cuts, there was still meat left on the deal. The property was a little rough, though. The property was supposed to be vacant, but it wasn’t. The sellers were there for 3 or 4 days after Mike closed on the house, which they weren’t supposed to be. Mike was still working on the plan for the property, but everything went well in the end. When the sellers eventually left, they left behind much more stuff than Mike was expecting. Despite the unforeseen difficulties with this first property, Mike’s ultimate concern in with helping people like the sellers of this property. That’s where the name of his business, Newbyginnings comes from (in addition to it being a play on his last name). “You never know where your next deal is going to come from,” Mike said. The sister of the seller had been waiting for someone like Mike to buy her sister’s house. After seeing the amazing success with her sister’s property, she mentioned that she’s going to be selling her house next year and wants to go through Mike. She even offered to make a testimonial, and took a picture with Mike, and wrote an awesome review for him. Her property will, hopefully, be Mike’s 5th deal for his business. When it comes to actually rehabbing your property, communication is always key. Mike’s GC had brought in someone from other projects to help with the rehab, but staying in communication was a bit of an issue. Mike would talk with his GC, and thought that word was getting passed down to the other contractors, but with the mix up it didn’t. The plan in the future is to sit down over dinner with their GC and other contractors to get to know each other better, and keep the communication channels open. Making sure you know who’s responsible for what is important for keeping a real estate investing business organized.
Rank #2: 3: The Mindset That Guarantees Flipping Houses Success.
Geremy Heath is the owner and founder of Texas All Cash Home Buyers. Texas all Cash is a residential redevelopment that turns around distressed properties for profit in the both the San Antonio and Austin areas. Since starting the company in 2009 Geremy has successfully completed over 150 rehab projects. Geremy came to the US from Australia in 2006 and met his wife a couple months later. While at the airport to leave for their honeymoon, he purchased a book about real estate investing. Much to his bride’s dislike he burned through the book during their trip. The fire was lit and he became passionate about leaving the rat race and working his way to financial freedom through real estate investing. In this episode Geremy tells us how he developed the right mindset to be able to become a success with house flipping. You have to expect to achieve the outcome you want. You have to believe you are going to make it. Find out how to get the proper mindset in this episode so that your odds of success are greatly improved.
Learn how to flip houses with little to no risk. Steven Williams has gone from earning only a couple hundred dollars per week to earning a multiple six figure income within two years as a Real Estate Investor. Steven shares the secrets that he's learned over the last two years on how to flip and wholesale property successfully. Rich Dad Poor Dad author Robert Kiyosaki says "Real estate investing, even on a very small scale, remains a tried and true means of building an individual's cash flow and wealth." and we agree. Learn from investors who have plowed the path so that you can avoid common and costly mistakes and achieve quick results.
Rank #1: 002: Marketing for Motivated Sellers | Find Investment Properties.
Discover how to find the best real estate investing deals by working directly with motivated sellers. Steven Williams uncovers the best strategies to find investment properties at huge discounts! Learn about Direct mail, bandit signs, pay per click, networking and more.
Rank #2: 003: Lead Management With Podio for Real Estate Investors.
Learn how to properly manage your real estate leads so that you can explode your house flipping business. Remember the money is in the follow up so create your investment leads like GOLD and follow up relentlessly.
Freedom Real Estate Investing Podcast. Flipping Houses, Wholesaling, and Cash-flow Real Estate
Rank #1: Wholesaling Houses 101 | Podcast 099.
Wholesaling Houses For Beginners Have you ever wanted to get started in the real estate business, but you wanted to get your feet wet first? Wholesaling houses is often referred to as the easiest barrier of entry to real estate investing. Over 16 years ago, this is how I got my start. I had no […]
Rank #2: “Subject To” Real Estate Investing Strategies | Podcast 047.
No Money Down Deals. How to invest in real estate without going to the banks! Ryan Nickel is a real estate investor that does both local and virtual deals using Subject To Deals and Lease Options. Ryan is an action taker who goes out and find his deals on a free website. the best part […]