Mike Arch is a founder of Alamo Home Source and is partners with Erik Saengerhausen who joined us for episode 27. Mike has been flipping for many years and has flipped hundreds of houses. He currently focuses on creating and selling real estate notes.
On today’s episode, we talk about how to find the “right” real estate agents, attorney, title company/closer for your house flipping business.
This biggest take away from this episode is that taking the time to find the team members that care as much about your business as you do is paramount. There are agents out there that always work with a sense of urgency and are great for real estate investors because you cannot steal in slow motion (meaning not to steal, but to get the great deals :)).
We discussed the best way to find agents doing great things in the areas you are investing or want to flip in and how to approach them so that they know who you are and can send you great deals.
It might surprise you to know that many agents that list a lot of houses don’t necessarily want their name on a junker house so they’d prefer not to list it. If they know you are a ready and able buyer, they can let you know about those properties before they go on the market. It’s a true win, win.
We also discussed how to find the right escrow officer or closer at a title company to close your transactions. Find out what fees are negotiable as well as the tips that pros use to save themselves time and money.
We also discuss the right kind of attorney to find. Obviously, you’ll want a real estate focused attorney. We talk about how we both have spent too much money in the past because we didn’t know how to approach and talk with attorneys. Don’t make the same mistakes, listen to this episode and gain the advantage.
Robert Nickell is a national speaker, published author and one of the most successful real estate investors in the nation. Robert is known for his unique ability to teach, train, and run successful virtual businesses. Robert co-created Investor Virtual Assistant Services, LLC (IVAS) with the purpose of sharing his knowledge, experience and success with fellow investors around the world that are looking to take more control of their time while increasing productivity and reducing costs.
Are you a solopreneur? Most real estate investors are. We try to do everything ourselves and think that it’s very hard to find someone to care about each task as much as we do.
It’s what keeps us mediocre as real estate investors.
If you want to really kick butt as a house flipper and real estate investor, you simply need to learn how to delegate and have other people do the busy work.
If you don’t, you won’t make as much money and you won’t truly get the freedom you started doing this to get in the first place.
Virtual assistants are great for investors that cannot afford full-time in-house employees. I’m sure there are dozens of tasks you can think of that you’d rather never do again in your life. Those are tasks that you can have someone else do. And, guess what? They don’t need to be in the same city, state or even country as you.
Robert Nickell runs a very successful wholesaling business and uses almost entirely virtual assistants from the Philippines to do it! Sounds crazy, but it’s true.
He’s done so well with it that he’s started to train and provide these virtual assistants to real estate investors so that we can all benefit from their help.
Not sure where to go to find virtual assistants? Not sure what qualities to look for? Not sure how to streamline your processes and coordinate and make the most out of the virtual assistants’ time? Not sure how much you should be paying for virtual assistants?
We cover all of these questions in this episode. I learned a tremendous amount from Robert in this podcast episode and I’m sure you will to. Even if you’re not immediately considering needing help, it’s best to know that it exists so that when you start getting bogged down, you’ll know where to go and how to handle it.
To find out more about Robert’s virtual assistants service, visit MyRockstarVA.com
Brandon is a painter, extortionist, exorcist, and lover (not a fighter.) He' would also like everyone to know he is not a robot, despite claims to the contrary. Little known fact: He’s the VP of Growth and Communications here at BiggerPockets.com.
Brandon joined me on the Flipping Junkie podcast way back in episode 2 of the show. He’s very busy and I really appreciate him taking the time to be on the show again. I enjoy talking with Brandon and consider him a great friend.
On this episode, we cover over 22 actionable tips for beginner real estate investors. Even though we say these are tips for beginners, I think we can all say that even experiences house flippers do not do all of these things. If we all would work at putting these tips into action, we’d all make more money and have more free time.
The important thing to always remember is that this is a marathon, not an all out sprint. Do not try to go out and do all of these things this next week as you will burn yourself out and half-ass all of them. That’s just a waste of time.
Take your time. Pick 3 and commit to do them well.
My favorite actionable tips from the show are:
1. Eliminate 2 words from your vocabulary completely: ‘I Can’t’ and replace them with ‘How Can I?’
2. Write your first “yellow letter.” Simply get a yellow pad of paper and write, Dear Johnny Appleseed, I’m interested in buying your house at 123 Plum Orchard Rd. If you would consider selling, please call me at 222-2222. Very sincerely, Joe Investor. Yes, it’s really as simple as that. Drive for dollars and find a vacant house. Look up the owners address from your county’s tax assessor website. It’s very simple.
Matt Theriault, a fifth-generation California native, Desert Storm Veteran (US Marine Corps), has worked as a full-time real estate professional since 2003. After building a small real estate empire (100+ income units) with hardly using one dime of his own money or one point of his own credit, he discovered that he had a knack for simplifying the complicated, implementing systems and producing desirable results for both himself and his investor partners. His “knack” has manifested itself via consistently better-than-average market returns for both himself and his investor partners, a thriving online real estate investing academy (EpicProAcademy.com), as well as one of the more popular Real Estate Investing Podcasts (Epic Real Estate Investing) on iTunes.
On this episode we talk about how Matt got started. He had made a fortune with his own record label and then lost everything when Napster and everything in the music industry changed.
He ended up going from being a millionaire to bagging groceries at the grocery store.
But, he didn’t let that stop him from trying. He went on to become a real estate agent and working with investors. He wasn’t making much money, so he decided he was on the wrong side of the action.
He became a real estate investor right away and started doing tons of short sales back around 2008 when the real estate market was tanking.
In this episode, Matt makes it clear that you’ve got to see things from the agent’s perspective when you are trying to work with them. He shares the fact that almost all agents will immediately think you will want to submit hundreds of low-ball offers with almost no chance of getting any accepted or that you will want to have the list your properties with a severely reduced commission.
Prove them wrong on those counts and you’ll have someone happy to work with you.
In this episode, you’ll also learn how to find the agents you should be working with and how to filter out very quickly, the ones you shouldn’t be working with.