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Flipping America — Business
Flipping America

We teach you how to make money in real estate. We cover news, trends, styles, markets, demographics, and technology that affect real estate investing. We also talk to market leaders and trend setters. Lastly, there’s a bit of how-to information on nearly every show, with topics, Q&A from listeners, and presentations from our guests. Learn how to make and grow a fortune in your spare time or as a new career.
We don’t just talk about flipping houses. We talk about single family rentals, multi-family rentals, apartments, mobile home communities, commercial and industrial space, hotels and motels, golf courses, and raw land. We cover the entire gamut of real estate asset classes.
We also discuss strategies for cash flow, acquisition, and property disposition. These include hard money, private money, creative deal structures, mortgage wraps, wholesaling, contract assignments, lease options, lease sandwiches, and more. Learn how to start with nothing and work your way to millions. Find deep satisfaction in meaningful work that meets not only your income goals, but the needs of the community and your buyers.

Copyright: © Flipping America LLC 2017

Latest Episodes:

BANK sales training with M3 May 28, 2018

Show notes

FAR 032 Topics: Emails: Andy, LaSalle Pennsylvania, "I have two great deals in front of me, but I don't have enough cash to do them both. What would you do?" Interview Guests: Maxine Frederick, Melissa Frederick, Monique Hayes BANK Code Sales Training

News and Questions May 28, 2018

Show notes

FAR 033 News and Questions Emails: Jeremy from Indianapolis How do you get your painter to do the work for $1.25k per square foot of floor space. I've talked to 2 painters and they want $2 or $2.50 per square foot. 1400 sf house. 2 guys, 2 days. If he pays those guys $20/hour that's $320 in labor. $600 for paint. He will have about $160 in Workmans Comp. His only other costs are the wear and tear on his sprayer and other reusable items. If he assesses $100 for those items his costs total $1180. I'm paying him $1750. He's clearing around $600 and he can still do another house for me this week. He's not going to get rich from one job, but if I have 8 or 10 houses lined up for him to knock out, he's going to enjoy a steady paycheck. I pay extra for high ceilings, really rough walls, garage floors, and anything that needs an oil based primer first. So it's not strictly $1.25 per sf. Jeff, Louisville, KY I like your show and appreciate what you have to say. I want to get some training, but I'm cheap. I am finding a lot of information on the internet for free. Why should I pay for training and oh by the way, do you have an opinion about which free resources are best? Helen, Ocala, FL My husband Bob and I want to buy 3 or 4 rental houses, but we don't want to manage them. Therefore we don't care where they are really. Can you help us? Patricia, Greensboro, NC I have two rentals I want to sell. They are rented so I guess I'll need to sell them to an investor. Would an agent even list these properties? If not, how would I go about selling them? Tim, Las Vegas I think I heard you say something about using a realtor. I'm a professional investor. I can take calls and sell the property myself. Why would I want to give up 6 or 7 percent of the sales price to an order taker? Nick from Aurora, CO. How do you go about hiring a realtor in a new area? What are some of the things you look for? What do you ask them for and what do you promise them? The crooked realtor from Macon story.

A Day In the Life of An Active Investor May 28, 2018

Show notes

FAR 034 Topic A Day In the Life of an Active Investor Emails: Jeremy from Indianapolis How do you get your painter to do the work for $1.25k per square foot of floor space. I've talked to 2 painters and they want $2 or $2.50 per square foot. 1400 sf house. 2 guys, 2 days. If he pays those guys $20/hour that's $320 in labor. $600 for paint. He will have about $160 in Workmans Comp. His only other costs are the wear and tear on his sprayer and other reusable items. If he assesses $100 for those items his costs total $1180. I'm paying him $1750. He's clearing around $600 and he can still do another house for me this week. He's not going to get rich from one job, but if I have 8 or 10 houses lined up for him to knock out, he's going to enjoy a steady paycheck. I pay extra for high ceilings, really rough walls, garage floors, and anything that needs an oil based primer first. So it's not strictly $1.25 per sf. Jeff, Louisville, KY I like your show and appreciate what you have to say. I want to get some training, but I'm cheap. I am finding a lot of information on the internet for free. Why should I pay for training and oh by the way, do you have an opinion about which free resources are best? Helen, Ocala, FL My husband Bob and I want to buy 3 or 4 rental houses, but we don't want to manage them. Therefore we don't care where they are really. Can you help us? Patricia, Greensboro, NC I have two rentals I want to sell. They are rented so I guess I'll need to sell them to an investor. Would an agent even list these properties? If not, how would I go about selling them? Tim, Las Vegas I think I heard you say something about using a realtor. I'm a professional investor. I can take calls and sell the property myself. Why would I want to give up 6 or 7 percent of the sales price to an order taker? Nick from Aurora, CO. How do you go about hiring a realtor in a new area? What are some of the things you look for? What do you ask them for and what do you promise them? The crooked realtor from Macon story.

Why Use a Realtor? May 28, 2018

Show notes

FAR 035 Topics: Hiring a Realtor - "hiring a Realtor" keynote from F&F course

Email Questions May 28, 2018

Show notes

FAR 036 Topics: In the news: Seattle is the #1 residential market in the US in terms of growth and heat (not necessarily value). Emails: Ronnie from Boulder CO, "I have kind of a dumb question. How do you pick a name for your company? Mike from Ocala, FL, "I'm interested in this, but completely new to the idea. How do I get started?" Courtney from Atlanta, "I'm in the insurance business but thinking about flipping a few houses here and there. How much of my time will this take?" Steve from Houston, TX, "I've formed my company, secured a domain name for a website, hired a CPA, and talked to a few local realtors. What else do I need to do in order to get ready to enter this business?" Aldo from Long Beach, CA, "I've been flipping 2-3 houses per year. How do I make the move to the next level? I want to be doing 1-2 per month." Beth from Milwaukee, WI, "How do I find my first deal?" Social Media Direct Mail MLS Craigslist Persistent Consistency Lauren from Atlanta, "I love my job and don't want to quit, but I'm interested in passive income from real estate. What's my best move?"

Population Growth and Opportunity May 28, 2018

Show notes

FAR 037 Topics: Population Growth and Opportunity Emails: How do I know what I should pay for a fix and flip?

Top Trader Questions May 28, 2018

Show notes

FAR 038 Topics: Real Estate News Investor Uh-Ohs Contractor Fails Investing SCAMS The Trader's Top Questions :

What is the acquisition cost?
What are the holding / improvement costs?
What is the selling price?
What will the cash outlay be if I use leverage?
What is the return on investment?
What is the return on my cash?
What is my return on effort?
1. Wages, whether salaried or hourly are 1 to 1.
  1. Hours
  2. Time
  3. Completed work
2. Start a small business and to begin with it's as low as ½ to 1.
  1. Add employee to get back to 1 to 1.
  2. Each employee slightly reduces your effort to increase your bottom line.Capitalism is based on the exchange of effort for a living wage. The employer pays a fair wage but it always less than the return that employee will ultimately bring to the company.
3. Active real estate investing (flipping) still involves effort, but opens up returns in the form of unlocked equity or value creation through improvement.
4. Active rental investing requires effort but theoretically offers more rewards than exchanging that effort with someone else.
5. Passive investment has a return of many to 1. Hard to quantify, but the continuing effort put forth is small in comparison to the return.

Emails: Toni from Orlando: How do I decide whether to install hardwoods or just replace the carpet? Carpet is significantly cheaper. Chastity from Dallas, GA: We bought a house where the old garage has been converted into a family room. The room really adds some needed interior space, but it was poorly done and not to code. It will cost as much to make it right as it would to just make it back into a garage. What would you do? Evan from Harrisburg, PA: I have a found what looks like a good funding source online. They say they will provide capital for my business and funding for my deals. I filled out the paperwork and then they told me I just needed to submit $2500 to process the account and set the paperwork up. Bob from Pittsburgh, PA: Should I use one of those 25 year paint products for the exterior of my flip house or just paint it? Francis from Denver: We bought an old one - got into it and found major problems that the GC missed in his original estimates. No way we can make money now. What do we do?

The 90 Day Flip Rule and Loan Terms May 28, 2018

Show notes

FAR 039 Topics: Real Estate News Investor Uh-Ohs Contractor Fails Investing SCAMS How do I calculate the costs of my deal? Emails: Arianna from Long Beach: "I keep hearing about the 90-day flip rule. What is it? How does it affect me as an investor?" Dennis from Denver, "I'm confused by all of the terms of a hard money loan. Can you explain what they mean and how it works? How can I know what this is really costing me?" ARV CV LTV TLTV Points Rate Term Look for: % of purchase funded % of rehab funded Funding limit (as a % of the total project cost) Additional fees: Draw fees? (inspection - $125-150 is reasonable). Loan processing fees? Doc fees? Blah blah blah fees? Ken from Milwaukee, "You've mentioned on the show that you know your daily cost of a project. How do you calculate that?"

Buying Subject To May 28, 2018

Show notes

FAR 040 Topics: Real Estate News Investor Uh-Ohs Contractor Fails Investing SCAMS Emails: Dennis from Wauwatosa, WI, "There seems to be a bunch of different types of deeds out there. Can you explain what they are and the differences?"

General and Special Warranty (Limited)
Bargain and Sale Deed (Sheriff's sale)
Quitclaim Deed
Foreclosure Deed / Deed Under Power
Deed of Trust
Deed in Lieu
Security Deed - Deed to Secure Debt.

Frannie from Long Beach, "I have a lot of equity in my house. Is there a way I can tap into that to do a real estate deal?" Don from San Diego and many others. "Please explain about Subject-To Financing. What is it, how would I do it, why would I want to?" Patricia from Monroeville, PA, "Please explain the mortgage wrap and how it might be a way to buy a property."

Ed Bogle, Small Business Advisor May 28, 2018

Show notes

FAR 041 Today we have a guest in the studio who is a start-up funding specialist. Ed Bogle has worked in the banking and financial sectors his entire career and for the past several years has been a consultant for small businesses seeking strategic planning and capital formation. Emails: Patricia from Monroeville, PA, "Please explain the mortgage wrap and how it might be a way to buy a property." Cynthia from Ft. Wayne, IN, "I heard someone talking about gap funding. Are you familiar with this? Sounds like a scam to me." Interview Guests: Ed Bogle

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