Flipping Junkie - Danny Johnson - For Those Addicted to Flipping Houses

Flipping Junkie is a podcast for people addicted to flipping houses and real estate investing. Subscribe for weekly episodes with interviews from regular Joe house flippers that have become successful flipping houses as well as expert real estate investors sharing their best secrets on how to flip houses for big profits. Find out in detail, what is working today, to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determine repair costs, find contractors and manage rehab crews, what improvements to make and how to quickly sell your houses for big profits. 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 in this life changing business that has such huge potential to create financial freedom for you and your family.
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Flipping Junkie - Danny Johnson - For Those Addicted to Flipping Houses




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Now displaying: May, 2016
May 30, 2016

Don Costa, is a married father of 3 incredible kids.  He has been in the real estate business for over 10 years.  He started Knocking on doors and wholesaling properties, and then quickly moved to flipping houses.   He took some time off during the crash and jumped back in 2012.  Currently our office is on track to do a 100 flips this year.  He loves what he does and he loves helping others get into the business. 


Don started flipping houses when he was unemployed.  The unemployment check only covered his living expenses and so he had to find a way to find deals, get funding for them and to fix them so that he could sell them and profit.


He got a notice of default list and began going door to door to try to buy houses from the people about to face foreclosure. 


To buy and fix up the houses, he worked out a deal with a money partner to joint venture.  The money partner would put up the funds.  He would find the deals and manage the fix up and they would split the profits 50/50.


Not all deals are 50/50, we discuss some of the other terms investors use and how those are determined.  Basically, the more value you bring to the table for the joint venture, the more you should make out of the deal.  If you are finding incredible deals, managing the rehabs and getting them sold, shouldn’t you be asking for a 60/40 split.  Heck yes.


Don didn’t have money to make monthly payments to hard money and private money lenders.  He didn’t have money to spend on rehabs before getting draws from lenders.  He had to joint venture.


He still joint ventures to this day.  The reason is that he always wants to do as many deals as he can.  Joint venturing allows him to be able to do that.


Finding joint venture partners can be had by networking.  You hear it all the time, but do you do it?  That’s the real question.


Don recommends using a written agreement to make sure everybody is on the same page and understands the deal.  You can click here to download the agreement he uses.  (Please be sure to have an attorney review this before using it - the agreement is only provided for educational purposes)


He talks about some of the situations he’s encountered with different JVs.  One wanted to know if paint from one job was going to another job if it wasn’t all used.  You probably don’t want to have someone partnering with you that is concerned with such minute details.


Another thing to be careful of is partnering with someone that wants to give too much input on rehabs.  You do not want to have too many chiefs trying to run things.  Contractors won’t know who to listen to or to check in with about change orders, etc.  You should control as much as you can.

May 23, 2016

Jason has been on the show now 3 times!  It’s because he’s awesome and doing great things in his real estate investing business in Houston. 


We have in on the show today to talk about finding and working with private lenders for your house flips. 

Now, if you’re new to real estate investing, you probably want to start with working with a partner to fund the deal and split the profits or use hard money until you have a proven track record of several successful flips.  This will make it easier to build relationships with private lenders.

In this episode we talk about:

What a private lender is

How they are different than hard money lenders

What criteria Jason uses to determine good lenders from ones he’d rather not work with

How to find these lenders during networking events


Jason really focuses on the “working” part of networking events.  I think most investors in general just don’t fully appreciate the power of these events if worked properly. 


When negotiating with lenders on terms, Jason likes to frame the argument by showing how he uses the lenders that give the best terms first and then moves up to more expensive ones afters he’s used all of the cheaper one’s money.  So, they can ask for higher rates, but they won’t get their money out until the cheaper ones have theirs out first.


Jason also talks about his vanilla and chocolate options he gives private lenders.  You’ll need to listen to the episode for that one though. :)

May 15, 2016

Learn how to flip houses through this free house flipping training course.  Weekly podcast episodes show you how to get started and go from newbie to pro.

In this episode, I talk about what we've been doing with this series of podcast episodes that is meant to be a sort of weekly training that follows a specific path to take you from absolute beginner real estate investor to master pro house flipper extraordinaire.   

May 9, 2016

APIA is an investor friendly insurance company owned and operated by Gloria Kelley in Castroville, TX. Gloria has over 42 years experience in the insurance industry and services a niche market-unoccupied, vacant, or "distressed" properties. She got her start providing insurance for large financial institution's Real Estate Owned (REO) portfolios and has been employed by various large insurance companies over the course of her career.  She has experienced all types of claims in her ever-growing knowledge in the insurance world.


Gloria shared some great tips and gotchas that all real estate investors need to be aware of when it comes to insuring vacant houses.  As investors, we have a lot going on and can sometimes make decisions without knowing all the facts.


I’m willing to bet that 90% of real estate investors don’t properly insure their investment properties.


In this episode we talk about the importance of understanding insurance policy vacancy clauses.  This is a super important clause because it can basically allow insurance companies to deny claims.


Another important topic we cover is what happens when you under insure a property.  I know most investors do this as well.  It’s important to understand the ramifications when you don’t put a proper insured value on your vacant real estate investments.


They currently service investors all over the U.S. We build strong relationships with clients because of our customer service, competitive pricing, responsiveness, and flexibility to meet the unique demands of investors. They offer the investor the opportunity to pay insurance in arrears. This is especially important since you know investors are cash /cash flow focused. Most insurance providers require insurance 3 months in advance and you probably won't get a refund of the premium if you do not use it all. With them you pay for what you use after the fact-not beforehand.



Their policies is underwritten by Lloyd's of London.

May 2, 2016

Andy McFarland is a self-made real estate entrepreneur who started with nothing and currently makes seven figures a year in his real estate business.


After getting fired from his last W-2 job in 2004, Andy went into real estate full time and has never looked back. Andy currently focuses on wholesaling properties in three different states; Utah, New Mexico, and Indiana. In 2015 alone, Andy did over 150 deals. 


Andy has been married for 10 years and currently resides in Farmington Utah with his beautiful wife and three amazing children. Andy enjoys being around family and friends and continuing to grow and learn every day. You can follow Andy on his real estate journey by going to his website: or on his YouTube channel by searching for I Love Real Estate Stories.


He was also with us on episode 19 where we discussed ‘how much do you really need to know before getting started flipping houses?’


In today’s episode we talk about how real estate wholesalers operate and how to become one of their VIP buyers.


There is a very common misconception that wholesalers don’t leave enough meat on the bone when they sell their deals.  That can and does happen, but it’s not every deal and not every wholesaler.


We discuss how we’ve seen wholesalers put out great deals at crazy prices because they made assumptions that were invalid. 


Andy gives an example of how he just bought a house from a wholesaler that thought the house would only work as a rental.  Andy determined it would work as a flip and snatched the deal up and wholesaled it himself at a higher price.


Some key points to take away from this episode are as follows:


  1. Be top of mind with good wholesalers (call them on a regular basis and befriend them)
  2. Develop friendships.  Don’t just say, ‘Give me, give me, give me.’
  3. Be prepared.  Be ready with funding, earnest money, offers, etc.
  4. Don’t make assumptions.  Do your own due diligence.

Andy wholesales a TON of deals every year and his insights on how to build a great buyers list and how he operates his business are priceless.