Geremy Heath is the owner and founder of Texas All Cash Home Buyers.
Geremy was on the podcast during the early days for episode 3 where we talked about <a href="http://flippingjunkie.com/episode-3-the-mindset-that-guarantees-flipping-houses-success/" target="_blank">The Mindset That Guarantees Flipping Houses Success - Click Here To Listen</a>
We talk about his Miracle Morning routine…which is incredible. If you want to find out more check out my interview with the author, Hal Elrod: <a href="http://flippingjunkie.com/episode-24-foundation-the-miracle-morning-whal-elrod/" target="_blank">Click Here To Listen to My Interview with Hal Elrod</a>
There’s a lot that goes on in between contracting and closing on a house. Especially when it comes to the numbers. You have to make detailed estimates of the labor costs, material costs, and other specific skew costs. If you’re not precise in your estimates, then you’ll run into some funding roadblocks.
Geremy makes the suggestion of not going through with a property if the exact estimate is higher than 10% more than the original estimate. When Melissa and I were doing it before we got our team, we would know if something was off when we got to the rehab (which wasn’t too fun).
This work does need to be done regardless. And Geremy makes the point that it’s better to get it over with sooner rather than later. It’s better to know what you’re getting into before you start the closing process.
To get your invite to the new Flip Pilot closed Facebook Group, visit the <a href="http://flippilot” target="_blank">Flip Pilot Invitation Page - Click Here</a>.
This vlog, Danny talks expands on what it means to be a Flip Pilot, and what it takes to make measurable progress with your real estate investing business. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
What does it really mean to have a 30,000 foot view of your business? You have to really take a deep look at it and where your business is going, but you also really need to take a look at yourself.
Staying in place without anything driving you personally will affect how your business expands. You need to take a closer look at why you get up in the mornings, what keeps you motivated, and how you’re growing as an entrepreneur.
The biggest concern is making sure you’re not overloading yourself with too many goals that aren’t realistic, or that are too distracting. “Shiny Objects” can get in the way of you developing what you need to for your business to continue to be a success. That’s something that we struggle with. Staying focused and on track, and completing one goal before you move on to the next one is essential for a healthy business.
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This vlog, Danny talks about the beginnings of his house flipping business, and the learning curves it took to get the hang of it. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Learning what to do to run your business the right way takes time, but mostly trial and error. There is a huge difference between running your business and working in your business, and what it takes to be the pilot instead of the crew.
So here’s a story. When Danny first started rehabbing houses, he showed up to his first demo site the day before to get it prepped. He went and personally started taking nails out of the walls so that the sheetrock could be laid properly, thinking he was doing a great job and showing that he has what it takes to be an investor.
And then his mentor showed up, mad. He started telling Danny that it’s not his job to be taking nails out of the wall. Not because he was somehow better, but because he was supposed to be running the business and not working in it.
The takeaway is that as an investor you shouldn’t be swinging the hammers. It’s your job to work on your business, not IN your business - that’s what it means to be a Flip Pilot!
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This vlog, Danny talks about the difficulties that running a real estate investing business can cause, like attorneys talking sellers out of deals. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
You know what really grinds my gears? Attorneys. And thieves (but we’ll talk about that second).
Do you ever run into issues with attorneys? For the most part, they’re not too much of an issue, but when they start making sellers or buyers question the deal it gets a little frustrating. For example, the attorney mentioned in the vlog wrote the buyer’s contract in such a way that it, basically, made the contract null. Just a little frustration.
Ok, those thieves. Long story short, our entire website got copied and pasted. Word for word, code for code. Understandably, Danny wasn’t happy. But, after taking a step back and looking at how poorly this is being taken care of, these thieves aren’t as intimidating as they think they are. We won’t get too much into it here. Just know that if Danny isn’t worried, no one else needs to be!
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This this vlog, Danny talks about the idea of being the pilot of your flipping business instead of someone working on the ground. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Are you working in your business or on your business? That might sound like a small difference, but it’s more important than you’d think. If you started your business from the ground up (like most real estate investors have) then you’re the boss. And being the boss means you can’t be spending your time running around within your business. You need to be taking care of things from above - working on your business.
That’s where the idea of being a Flip Pilot comes in. You need to be able to see your business from 30,000 feet up to be able to take it to the places you want to go. So focusing on managing your business means that you’re going to have to give up some of the hands on work to take on the bigger issues.
Let’s break it down. If you’re working in your business, you have to wear a lot of hats. You have to be the marketer, and the hiring manager, and the sales guy, and the foreman, and the legal team, and the boss. It’s too much. If you’re spread too thin then you aren’t replenishing your inventory fat enough to continue to make money.
Take Danny’s example. When he and Melissa were spread too thin, they would focus all of their energy on one property at a time. Which worked, for a little while. But once that property was finished, there was nothing left on deck. So then the marketing had to start all over with nothing generating money in the meantime.
Basically what we’re getting at is, are you switching hats too much in your business or are you taking charge? Be a Flip Pilot, not the ground crew! Let us know what you think in the comments :)
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This this vlog, Danny talks about the similarities between PPC marketing and direct mail marketing tactics, and why sticking with PPC is so important for constant deal flow. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Doing direct mail marketing is great for growing your reach to motivated sellers, but can often be discouraging (as we found out) when getting a 0.1% response is a good response…
Investing only about $500 to direct mail just wasn’t working for a few reasons: there wasn’t a targeted enough audience, and there wasn’t enough funding behind it.
The same rule applies to PPC marketing. If you’re only allotting $500 a month for pay per click, how can you expect to get the best ROI? You can’t. True, PPC is much more targeted, so your ads are getting in front of your exact audience, but as Danny points out this is a pay-to-play strategy. And it WORKS.
The other thing to consider when budgeting for PPC is how much a single deal is costing you. The more you pay, the better the return. You can’t just rely on getting lucky for every deal. So, let’s say you spent $3000 on getting one deal. That one deal will last you, what, about 3 months? That’s great! But you need to be generating other deals in the meantime. That’s why PPC isn’t a one-and-done thing, it’s on-going.
You can learn all about it in this vlog episode, and on the podcast.
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This this vlog, Danny talks the crazy storms in San Antonio, and his upcoming Masterminds Meeting with Justin Williams and Andy McFarland. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Aside from the insane storms in San Antonio (right near the office too! Yikes), Melissa and Danny are heading to Justin Williams’ and Andy McFarland’s 7 Figure Flipping Masterminds Meeting!
Not only is this an important networking opportunity, but it’s a great place to learn. Expanding your understanding of what you’re doing will keep you improving and make you a more worth while real estate investor.
There’s a saying that goes something like: “10 years of experience is only 10 years if you’re learning. If you’re not, it’s just 1 year repeated 9 times.”
Don’t be someone who’s just repeating one year of experience for the rest of your real estate investing business’s career. You want to be learning and expanding all of the time so that you can always be on top of what’s changing in the industry.
And there’s no better place to start that at the 7 Figure Flipping Masterminds Meetings! You can learn more at this link below. And we’re in the video! Neat :)
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This this vlog, Danny talks about why you should be using a vision board to keep you on track both professionally and personally, and the steps needed to achieve those vision. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Are you using a vision board? They’re great for keeping you on track, and motivated to reach those goals. Danny had a lake house and a plane on his vision board, as things that he never thought he would actually achieve. It wasn’t until this past weekend at Danny’s lake house that he realized he had achieved both of those things.
Melissa turned to him and said, “Hey this looks like the one on our vision board!” (Talking about their lake house). And she was right! Danny had reached the lake house goal, and (for personal reasons) he had gotten his pilot’s license! All from keeping himself motivated with his vision board.
Having a vision board will keep you organized and motivated. So, are you using a vision board? Use it to set personal goals, and business goals. Where do you want your business to go? What goals are you setting for your own self growth? Let us know in the comments!
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
This this vlog, Danny takes a drive up to his lake house where the family is spending the weekend, and talks about the importance of stepping away from the computer. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Aside from just spending time with his family, it’s important for Danny to get away from the office and clear his head so that he can return to work on Monday ready to tackle the week. It’s important for everyone to do that! Danny spent his weekend with his family at his lake house, but how are you spending yours?
Stepping away from your computer is something Danny found valuable when he was on BiggerPocket’s show talking with them. This is something that’s just stuck with Danny, and has helped keep him grounded and focused on what needs to be done. Getting out there and talking to people in person, and driving around your city, are great ways to expand your knowledge of your target area. So don’t just sit in front of your computer all day, get out there and start talking to other investors and motivated sellers!
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
In the third vlog episode, Danny talks about his morning routine with his wife, Melissa, in the car with him on their way to the office. Don’t forget, all of the vlog episodes (and more) are available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
Danny’s morning routine got started when he found Hal Elrod’s Miracle Morning. Basically, the start of anyone’s day should be used to set up the rest of the day for success. So Danny talks about how he used his mornings for self reflection, exercise, and breakfast (or course).
Is your morning routine like Danny’s? Are you setting up your day for success from the moment you get out of bed, or are you pushing through everything instead of taking your time? Your morning should be a time to make sure your day will be a success, use it wisely!
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
In the second vlog episode, Danny talks about working the system to better run his real estate investing system. Don’t forget, these episodes are all available on the Flipping Junkie YouTube Channel at http://youtube.com/FlippingJunkie
Knowing how to run a business and making it successful has to do with how you work the system and react to things in a professional way. Danny talks about the ‘homework’ (because you never stop learning, even when you’re done with school) that he and his team have: reading.
The book Work the System, by Sam Carpenter, talks about how to manage a business with an emotionally detached point of view. Which really isn’t heartless, it’s objective for running a business efficiently. One of the best quotes that has helped Danny run his business is about looking at the work from above. The analogy goes something like this:
There are a lot of workers cutting down trees in a forest. They’re working really hard all day for weeks, and then the leader climbs up on of the trees to see their progress and finds out that they’ve been working in the wrong forest all this time. Danny keeps this in mind when working on his business instead of in it.
You can find the book at: http://www.workthesystem.com/get-the-book-free/
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
Danny has decided to start sharing the day-to-day inner workings of his businesses vlog (video log) style. Yes, the videos recorded for these shows is available on the FlippingJunkie YouTube channel at http://youtube.com/FlippingJunkie
These will be quick episodes sharing stories of the days happenings and what it looks like for him and his team as they achieve their goals.
He (this seems awkward as I’m writing this in the third person… anyway) wanted to have a platform to share all the epiphanies, struggles and wins experienced as each week goes by. A video log seemed the best way to do so. Each episode will be included as audio on the podcast.
It’s going to be awesome sharing each day in the life of a real estate investor with the vlog and podcast.
In the inaugural edition of the Flipping Junkie Day In The Life vlog series, Danny talks about his breakfast meeting with his dad and brother. As a real estate investor himself, Danny’s dad shared some stories of already installed flooring being stolen and Danny shared that the furniture, rugs, pictures and knick knacks from a fully staged house were stolen.
This first episode gives us a glimpse of what to look forward in the coming episodes.
Stay tuned and be sure to subscribe to the FlippingJunkie Youtube channel: http://youtube.com/flippingjunkie
I’ve been hearing more and more investors talk about how they buy houses using online auctions like auction.com. I’ve been fascinated by the strategy and was glad to get Paul Lizell on the show.
He’s buying 8 to 15 houses a month that he buys from online real estate auctions….all over the country. How cool is that?
Paul started in Real estate in 1999, became a full time investor in the fall of 2004. He had a background in commercial business loan underwriting and 4 years as a business development officer. He’s been a licensed Realtor since 2006. As a national real estate wholesaler, he does 6-12 fix and flips per year and owner finances 10 properties per year, mostly to investors.
You’d think that the ratio of houses to bid on to the number of deals he gets would be pretty crazy but he actually does pretty well. He’s got online real estate auction thing figured out to where he bids on about 150 properties and ends up with between and 8 to 15 per month. That’s awesome!
His favorite auction websites are:
auction.com
xome.com
hudsonandmarshall.com
realtybid.com
hubzu.com
He mentioned that hubzu is nice because you can get away with small earnest money deposits than the typical $2,500 the other auction sites require.
When looking for properties to bid on, he focuses on the smaller markets and targets in on the houses that have been listed for a long time. The houses that are for sale for over 180 days or more are the ones that he puts bids in on.
During the episode he also gave several reasons why he prefers to close each of the deals at the title company of his choosing rather than the one preferred by the bank that owns the auction property. The main reason was their hidden title company fees and lack of control over what is going on with the deal.
He was also kind enough to share with us his technique to get Realtors to tell us their BPO (which most don’t want to give out). He does this by not asking for a BPO but by asking, “what would you list it at for a 30 day quick sale?”
Brilliant!
Be aware that when buying auction houses online and then trying to wholesale them, you will not be able to assign them. You will need to double-close…yet another reason to have a title company you know that can close the deals.
John Martinez, founder of Midwest Revenue Group, LLC (www.midwestrev.com) is a sales development expert and a highly sought after consultant who brings humor, insight and real-world advice to his audiences. His practical, street-smart approach to selling has helped hundreds of investors, sales organizations, call centers, business owners, and independent professionals increase their revenue with more control, greater confidence and less effort.
Today I wanted to talk about how to handle negotiations with sellers so that we get the price we want and they feel good about the whole process.
This is an aspect of buying directly from motivated sellers that keeps a lot of people on the sidelines.
John shares with us today several tips for working with motivated sellers so that they feel good about the process and everyone gets what they want.
John’s first tip involves empathy. You’ve got to have empathy for each and every seller and what they are going through. Period.
Don’t hide what you’re feeling and how you feel about their situation. Let them know that what they are going through is not easy and that you know it must be hard.
John’s second tip is to make use of price anchoring. You’ve got to reset whatever initial price the seller is expecting to get so that your offer doesn’t hit them like a huge punch to the gut. One way to do this is to share recent comps for nearby houses that have sold for low amounts.
As you negotiate price, continuously lower the increment that you come up in your offer. This will signal to the seller that you are nearing your max. He also advises that you end with an odd number as your final as it appears to be your highest calculated offer. Great tip!
If your max offer doesn’t do the trick, make non-financial concessions. Offer to allow them to leave stuff they don’t want behind.
I asked John about common objections from sellers and how to handle them. I absolutely love the approach he offered.
He doesn’t feel like there is ever any canned objection/counter that will work. It’s always more of a situation by situation ordeal. His approach is to find out the real reason for why they are selling and have them hash out what objections or problems they have with doing so.
Then, understand that you can never overcome sellers’ objections. They must overcome their own objections. You can aid this by asking them questions that plays their objection against what they are trying to accomplish. In this way, they will see that accomplishing the sale of the house and resolving the situation is much bigger than the smaller problem of the objection.
Bill Allen has been flipping for over 3 years now and has done an incredible amount of growing in that short amount of time. He’s a full-time flight instructor for the Navy and has managed to grow a house flipping business from himself to a team running like a well-oiled machine.
I highly respect Bill and how he thinks. He’s the type of guy that loves to think through all types of situations and coming up with solutions. I think we’re wired the same.
In this episode, Bill shares with us how he got started. We then go into how he analyzes deals. His method of analysis is very similar to mine.
He uses the 70% rule of deal analysis for a quick idea of whether a deal is feasible or not and then goes into more detail.
A very important thing he mentioned was that the 70% rule works well for houses in the over $100k to about $180k range but not so much for anything outside of that. I tend to agree.
His quick method for repair cost estimation is to use $20 per soft of the house and then add costs for major items on top of that. Now, if a house needs major repair, this number will be low. This is more for typical updating, not relocating walls and re-sheetrocking, etc.
Bill became a father again recently. His son, James was born with a heart defect. Though he’s been through a lot, James is doing well.
You can read the story here on Bill’s blog: http://blackjackre.com/james/
Bill is an awesome father and person as he decided to set up donation page for the Children’s Heart Foundation and has pledged to match all donations.
This is incredible and I highly encourage everyone to make a donation. There’s nothing more important than our kids and I can’t think of a better cause.
Please pledge a donation here: Bill’s Children’s Heart Foundation Donation Page: http://www.childrensheartfoundation.org/donate-now
Please be sure to leave a mention of your donation on Bill’s Facebook page so that he can match your donation: http://facebook.com/blackjackestate
Show notes can be found at http://flippingjunkie.com/59
Happy New Year! 2017. Hustle
Goals. Have you set them? Go back and listen to:
Episode 18: [Foundation] 5 Steps To Setting and Actually Achieving Goals w/Marcus Maloney
Where the podcast is going
Finishing up series on investing
Mindset and foundation to get you prepared to be a real estate investor.
Team Building
Funding
Marketing - 19 episodes - You need leads!
Coming up…
Deal Analysis
Estimating Repairs
Making offers
Follow up
Rehabbing
Selling houses
Wholesaling houses
Share more of the day to day. My friend Erik always complains that I never talk about what I’m doing. Everything is top secret and it drives him nuts.
What’s happening in 2017 - bringing the hustle back
House Flipping Business Goals
Real Estate Investor Software Business
Show notes can be found at http://flippingjunkie.com/58
Register for the SEO and Content Marketing Webinar at http://leadpropeller.com/webinar
This is the final of four episodes where Danny Johnson of Flipping Junkie and LeadPropeller discuss generating motivated seller leads online for real estate investors.
In this episode the focus is mainly on search engine optimization and using content marketing to rank your site. We’re covering white hat versus black hat SEO, on-page and off-page SEO and all about content marketing in this episode.
Find out why Danny chose not to build LeadPropeller real estate investor websites on Wordpress and why you should care.
Discover these 4 Steps to Creating a Great Blog Post
Be sure to sign up for the webinar being held on December 13th at 7:00 pm CST by visiting http://leadpropeller.com/webinar
Show notes can be found at http://flippingjunkie.com/57
Register for the Online Lead Generation for Real Estate Investors Webinar at http://leadpropeller.com/webinar
This is the third of four episodes where Danny Johnson of Flipping Junkie and LeadPropeller discuss generating motivated seller leads online for real estate investors.
In this episode the focus is mainly on pay per click. We’re covering using Google Adwords as a real estate investor to generate awesome motivated seller leads…even within a week of setting up a new website.
Today, we’re talking about PPC (which stands for Pay Per Click) and generating leads the first week of having your website live.
Pay per click, not paperclip, is where you post ads online and pay for each click on those ads. The main services for pay per click are Google’s Adwords and Bing Ads.
This is the absolute best way to start generating leads for your website immediately. With adwords and bing ads, you pay money to have your ads displayed in the search results. Based on several factors that we’ll cover shortly, you can have your ads displayed above ALL organic search results. Basically at the top of the page for the best keywords out there.
Think about how awesome that is! You can beat websites that have been online for years, your first week getting leads online. Of course, you will have to pay for those leads, but these tend to be some of the best motivated seller leads available.
This is because these motivated sellers are seeking you out. They are ready to sell and are looking for a buyer.
Be sure to listen to next week’s podcast where Danny will share with you how to rank your site faster and higher using SEO (search engine optimization) and content marketing for real estate investors.
Be sure to sign up for the webinar being held on November 15th at 7:00 pm CST by visiting http://leadpropeller.com/webinar
Show notes can be found at http://flippingjunkie.com/56
Register for the Online Lead Generation for Real Estate Investors Webinar at http://leadpropeller.com/webinar
This is the second of four episodes where Danny Johnson of Flipping Junkie and LeadPropeller discuss generating motivated seller leads online for real estate investors.
In this episode the focus is mainly on generating traffic to your website. So, let’s get going and talk about how to promote your website to start generating leads right away without waiting for your site to rank at the top of the search engines...which can take up to a year with diligent effort. We’ll talk about that and SEO a lot more in a couple weeks on the 4th podcast episode in this subseries.
Don’t Expect: ‘Build it and they will come’
The internet isn’t the field of dreams.
Just building a website doesn’t do anything for you unless people know about it. They either find out about it through promotion: which is what we are talking about today or through finding it online themselves: which is what we are covering in the next 2 episodes.
The biggest mistake real estate investors make with a website is getting a website and then doing nothing to promote it.
Promotion does require some work, but the results can land you great deals that generate tens of thousands of dollars.
Whenever I hear someone say, “I haven’t received a single lead from my website”, it’s almost always because they never promoted it or didn’t promote it long enough. It’s the equivalent of complaining you didn’t get a deal from your direct mail campaign after you send out 500 postcards one time.
You Need a Plan
Just as you plan your direct mail with who you are mailing, when and how often and which letters, you need to have a plan to constantly promote your website. You wouldn’t print 1,000 letters and never mail them, so don’t build a website and not promote it.
The ideas I give you today will allow you to create your website promotion plan.
Be sure to listen to next week’s podcast where Danny will share with you how to generate the best motivated seller leads using pay per click (adwords) marketing.
Be sure to sign up for the webinar being held on November 15th at 7:00 pm CST by visiting http://leadpropeller.com/webinar
Show notes can be found at http://flippingjunkie.com/55
Register for the Online Lead Generation for Real Estate Investors Webinar at http://leadpropeller.com/webinar
This is the first of three episodes where Danny Johnson of Flipping Junkie and LeadPropeller discuss generating motivated seller leads online for real estate investors.
In this episode the focus is mainly on what makes a high-converting website. Danny covers all of the details to make sure you build credibility, how forms should be structured, what questions should be asked, how to eliminate competition.
Be sure to listen to next weeks podcast where Danny will share with you how to promote your website to start generating leads even before it ranks in the search engines. It’s going to be awesome.
Be sure to sign up for the webinar being held on November 15th at 7:00 pm CST by visiting http://leadpropeller.com/webinar
Ask your questions about online lead generation at https://facebook.com/flippingjunkie
This episode is short and sweet just covering what's coming up on the next episodes of the podcast. We'll be talking about online lead generation and how it is the top lead and deal generating marketing we are doing. If you have questions about online lead generation that you want answered, please visit https://facebook.com/flippingjunkie and ask there. I'll do my best to answer all questions in the coming episodes.
Show notes can be found at http://flippingjunkie.com/53
Brett Snodgrass is an awesome real estate investor in Indianapolis, IN. He’s been a full time real estate wholesaler for about 10 years now, and it has been an incredible business that God has used to provide for him and his family. He’s a simple guy, He loves taking his little beater-boat out on the lake, spending time with his wife and kids and enjoying the relationships he has around him.
Today, Brett shared with us his direct mail strategy where he sends out over 20,000 pieces per month and landing roughly 10 deals.
What I enjoyed was the discussion on getting leads from HUD. HUD stands for Housing and Urban Development and they are responsible for selling off FHA foreclosures.
HUD sells there homes auction style through the HUD Home Store (hudhomestore.com). You can bid on these houses and land some awesome deals.
Brett shares with us his exact system for making offers on these HUD houses. I especially like how he describes his filtering process to make sure that he’s not wasting his time. This is information that took him months to determine and we get to listen in and save all that time and effort.
Brett knows how to buy houses from HUD, HUD foreclosures. His system for buying they HUD homes is awesome, from offering 25% of list price and just fishing for counters to knowing when they are more likely to accept an offer, it’s all here in this episode.
Learn how to buy houses from HUD with this episode where I interview Brett Snodgrass.
Show notes at http://flippingjunkie.com/52
We’ve all heard those Jeff Foxworthy jokes about how you might be a redneck if you…
For example:
What might make you a real estate investor…
We as real estate investors have our own quirks and situations that make us who we are. These are the things that create a special bond between us.
If you find yourself nodding and laughing at the following truisms, well…you just might be a real estate investor.
I’m afraid I haven’t found a cure for it so you’re tough out of luck.
You might be a real estate investor if…
Listen to the podcast for more…
Justin Williams has been a full-time investor for over 9 years. He’s flipped over 500 houses. He considers himself a house flipping machinist. What he means by that is that he is all about building systems so that he could scale quickly and do more with his time.
Show notes can be found at http://flippingjunkie.com/51
In today’s episode, we talk about what amounts to a paradigm shift for most investors. There are three steps to revolutionize your house flipping business:
1. Generating leads on a regular basis
2. Converting those leads
3. Increasing profit
Justin’s whole approach is to focus on those three points, nail down the processes and then scale it. It’s really that simple. Maybe not easy to do, but simple.
Justin has done this with his own business and helped many other investors do the same. Trying to figure it all out yourself would not be the best use of your time.
The best use of your time is learning from someone with the experience and ability to teach you every step of the way.
Justin has just opened the doors to his House Flipping Formula program. You can get access to it here: http://houseflippingformula.com/danny
Rod Khleif is a passionate real estate investor who has personally owned and managed over 2000 apartments and homes. As an entrepreneur, Rod has built several multi-million dollar businesses. As a community philanthropist, Rod’s work has benefited more than 45,000 underprivileged children and families.
Rod discusses culling a list to make it more accurate and actual outbound calling which he’s done successfully. He speaks to knocking on doors which he did in Denver to buy some of the 500 houses he owned there on a buy and hold strategy. He’s found if you’re willing to do what others aren’t you’ll be successful and he happily talks about all of that in today’s episode of the Flipping Junkie Podcast.
Rod has bought hundreds of houses by door knocking on houses that were facing foreclosure. Here’s what he did:
He would get the pre-foreclosure list (sometimes referred to as the Notice of Default or NOD list) and then design a route to go to the houses.
He focused on going in the evening after 5:15 when people were more likely to be at home. If they were not home, he would leave his card (that said something along the lines of ‘Foreclosure Assistance Specialist’). He would then try again on Saturday.
Persistence. That’s what lands deals. Huge deals. He was doing what most investors still won’t do to this day!
When the homeowner is home, you must genuinely care about helping them. If you only care about making a buck, go and chase bank-owned MLS properties….door knocking is not for you. Homeowners will smell a shark a mile away.
Ask them questions to guide them through the conversation. You’ll need to build rapport so that they’ll talk openly with you so that you can offer up solutions to their foreclosure.
Rod liked to ask them what options they’ve already considered. This is a good way to get the conversation going.
Rod makes sure to verify the accuracy of his mailing lists and will look for phone numbers of the owners. This is also something most real estate investors do not do. If you are serious about real estate investing, finding the owners, finding their phone numbers and calling them can net you big deals.
You can find out what service he uses to verify the accuracy of his lists and find phone numbers by visiting the show notes page at http://flippingjunkie.com/50