Flipping America

Latest Episodes:

The Equifax Crisis, with Charlie Fowler May 06, 2018

Show notes

FAR 066 Expected Air Date: 9/16/17 News: Equifax Data Breach!! Charlie Fowler coming up. Story on CNBC yesterday. REIT earnings are down for companies invested in retail space. Interview Guest: Charlie Fowler

Updates and Issues May 06, 2018

Show notes

FAR 067 Expected Air Date: 9/17/17 News:

Partners REIT announces distribution of $0.02083 per unit. 2 cents per unit. So my 1000 units would make me $20! There are 45,731,683 Units outstanding. Thus the payout is $952,591.
Billboard for Offerpad. We will buy your home. Sounds great. Another version of "if I can't sell your home I'll buy it for cash." Offers appear to be 12% below current value, when all fees are factored in.
Article CNBC. Flipping on the decline as prices increase. 5.6% 2nd quarter, 6.9% 1st quarter.
- According to NAR, 5M existing homes sold in the US in 2016.
- 300,000 sold by investors or house flippers. (6%)
- Avg price, 240,000.
- RE Investors sold $72B in 2016. Not a trifling amount.

Scams:

Corey, from West Allis, WI "When is it OK to give my contractor money up front. All of the contractors I speak with want half the money before they will begin the work. What should I be doing to protect myself?"
Scam is where someone gets your money for nothing (or very little effort).
- Pre-payment for loan
- Pre-payment for remodeling

Emails: Questions@flippingamericaradio.com Tell us where you're from! Freddie, from Cleveland, GA: I'm looking at buying a manufactured home as a rental. It's only $3,000 and I can get $350/month for it. It's in rentable condition now and it's on a lot that comes with the purchase price. What else should I be considering?

I'll take it!
What's the value of the land?
Consider selling under an installment land contract.

Damon, from Akron, OH: "What is the most I should pay for my first flip?" Andy, from Snellville, GA: "I cracked up when I heard your answer to the lady from Rhode Island asking if she could get all the information about flipping houses for free on the internet. Would you spend a little more time going over all those topics again? It sounds pretty complex."

News and Questions May 06, 2018

Show notes

FAR 068 Expected Air Date: 9/21/17 Emails: Questions@flippingamericaradio.com Tell us where you're from!

Randall from Huntsville, AL: I'm new to investing and would like to hear all the options available to me for funding my first deal.
Chastity is from Providence, RI: We are about to buy a small house up in Lincoln and it looks like a pretty good deal. While doing our diligence we have discovered that this house and every house on the street are in a Historic District. It's just an ordinary looking 1300 sf 3/1 built in the 1940's. Please help us with anything you can about buying a home in a designated "historic" area.
Alison from Waco, TX: Please talk more about where to find house deals. I know you talk about wholesalers, but I don't know where to find them.
Robert from Indianapolis, IN: I have money and want to loan to a local investor who is flipping a property. How do I protect myself?

Issues and Answers May 06, 2018

Show notes

FAR 069 Expected Air Date: 9/25/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming October 21 and 22. . Join my special guests:

EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
Jennifer Hammond, Host of The Jennifer Hammond show on Sirius/XM Radio The Urban View. Nationally acclaimed realtor and investor extraordinaire.
Jay Conner. America's private money authority
Bruce Mack. Founder of Platinum Finance
Banks Brazell, ReBuild Co, a leading home builder and remodeler in the Southeastern US.
Roger Herring, Founder of Investors Accounting.
Karen Anderson, Digital Marketing and List Consultant
Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It's not just owning a business, it's owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that's not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That's right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. The FIRST 20 people who sign up for FlipStarter can save 20% off the admission cost by using the coupon code HOT20. I flipped 75 houses before I finally decided to go to a seminar about flipping houses. I wanted to improve my techniques. Over the years I've attended many training events and I can confidently tell you that FlipStarter is unlike any real estate investor training out there. See for yourself at FlipStarterEvent.com. Emails: Questions@flippingamericaradio.com Tell us where you're from!

Julio from Brighton, CO: "I hear you say you want to be "all-in" at 70% but I'm not sure what you mean by that. Would you mind going over that?"
Alison from Waco, TX: Please talk more about where to find house deals. I know you talk about wholesalers, but I don't know where to find them.
Teddy from Long Beach, CA. I've flipped four houses in the past 18 months. I want to quit my job to focus on this full time. How do I know when it's the right time to quit?
- Replacing salary - MORE than
- Cash reserves - 1 year of salary
- Consider the cost of benefits
- Study the systems and processes you will need to scale up.
- Increased volume = increased overhead - staff.
Stan from Lincoln, NE, "I know you have to get a certain percentage of stupid questions. How do you deal with those?"
Brittany from Chattanooga, TN, "I'm looking at an older home in the Highland Park area. I noticed that the house still has a fuse box. Am I going to need to upgrade the electrical and if so, what will it cost?"
Howard from Bridgeport, CT "I can't make it to Atlanta for your FlipStarter event. Are you going to record it? Will it then be available in some format?"

The Ultimate Rehab Estimator, Pat Dornan May 06, 2018

Show notes

FAR 070 Expected Air Date: 9/28/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming October 21 and 22. . Join my special guests:

EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
Jennifer Hammond, Host of The Jennifer Hammond show on Sirius/XM Radio The Urban View. Nationally acclaimed realtor and investor extraordinaire.
Jay Conner. America's private money authority
Bruce Mack. Founder of Platinum Finance
Pat Dornan, developer of the "Ultimate Rehab Estimator" and author of "Expect the Unexpected."
Roger Herring, Founder of Investors Accounting.
Karen Anderson, Digital Marketing and List Consultant
Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It's not just owning a business, it's owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that's not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That's right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. The FIRST 20 people who sign up for FlipStarter can save 20% off the admission cost by using the coupon code HOT20. I flipped 75 houses before I finally decided to go to a seminar about flipping houses. I wanted to improve my techniques. Over the years I've attended many training events and I can confidently tell you that FlipStarter is unlike any real estate investor training out there. See for yourself at FlipStarterEvent.com. Interview Guest: Pat Dornan - Ultimate Rehab Estimator

Direct Marketing, Karen Anderson May 06, 2018

Show notes

FAR 071 Expected Air Date: 10/2/17 Topics:

Like us on Facebook.
Join us every Tuesday at 2 for free interactive real estate coaching.

The FIRST 20 people who sign up for FlipStarter can save 20% off the admission cost by using the coupon code HOT20. I flipped 75 houses before I finally decided to go to a seminar about flipping houses. I wanted to improve my techniques. Over the years I've attended many training events and I can confidently tell you that FlipStarter is unlike any real estate investor training out there. See for yourself at FlipStarterEvent.com. Emails: Questions@flippingamericaradio.com Tell us where you're from!

Jake, from Bristol, VA "How is big city investing different from small town investing? How are they the same?"
Andrew from Jackson, MS "What are the top three things to consider in buying a rental house?
- Consider buying small multi-family instead
- Actual cash flow
- Potential long-term upside
- Keep it small.
- Buy a low maintenance home
Lisa, Roswell, GA "I'm a realtor, but not really an investor -- yet. As I search the MLS for possibilities, what should I be looking for?"
Shawn, Paoli, PA, "I got an offer accepted on a bank-owned house. But now I can't find anyone who will loan me the money to get it and fix it. I have perfect credit, but no prior experience. Any suggestions?
- Wholesale
- Mentor - split profits
Tom, Arvada, CO, "I found a HM lender to do a deal, but now I'm four days from closing and they sent me the settlement statement. I have to come to closing with close to $50,000! I don't have it. And I don't know what to do."

Interview Guest: Karen Anderson, Direct Marketing Consultant.

Compare Everything! May 06, 2018

Show notes

FAR 072 Expected Air Date: 10/05/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming October 20 and 21. . Join my special guests:

EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
Jennifer Hammond, Host of The Jennifer Hammond show on Sirius/XM Radio The Urban View. Nationally acclaimed realtor and investor extraordinaire.
Jay Conner. America's private money authority
Bruce Mack. Founder of Platinum Finance
Pat Dornan, developer of the "Ultimate Rehab Estimator" and author of "Expect the Unexpected."
Roger Herring, Founder of Investors Accounting.
Karen Anderson, Direct Marketing and List Consultant
Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Jake, from Bristol, VA "How is big city investing different from small town investing? How are they the same?"
Lisa, Roswell, GA "I'm a realtor, but not really an investor -- yet. As I search the MLS for possibilities, what should I be looking for?"
Shawn, Paoli, PA, "I got an offer accepted on a bank-owned house. But now I can't find anyone who will loan me the money to get it and fix it. I have perfect credit, but no prior experience. Any suggestions?
- Wholesale
- Mentor - split profits
Tom, Arvada, CO, "I found a HM lender to do a deal, but now I'm four days from closing and they sent me the settlement statement. I have to come to closing with close to $50,000! I don't have it. And I don't know what to do."

The Multiple Win Scenario May 06, 2018

Show notes

Topics: The Multiple Win Scenario Sellers Win. Buyers Win Private Lenders Win Communities Win Realtors Win Contractors Win We Win

The Secret to Flipping Houses in Your Spare Time May 06, 2018

Show notes

FAR 074 Expected Air Date: 10/12/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming October 20 and 21. . Join my special guests:

EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
Jennifer Hammond, Host of The Jennifer Hammond show on Sirius/XM Radio The Urban View. Nationally acclaimed realtor and investor extraordinaire.
Jay Conner. America's private money authority
Bruce Mack. Founder of Platinum Finance
Pat Dornan, developer of the "Ultimate Rehab Estimator" and author of "Expect the Unexpected."
Roger Herring, Founder of Investors Accounting.
Karen Anderson, Direct Marketing and List Consultant
Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It's not just owning a business, it's owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that's not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That's right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. The FIRST 20 people who sign up for FlipStarter can save 20% off the admission cost by using the coupon code HOT20. I flipped 75 houses before I finally decided to go to a seminar about flipping houses. I wanted to improve my techniques. Over the years I've attended many training events and I can confidently tell you that FlipStarter is unlike any real estate investor training out there. See for yourself at FlipStarterEvent.com. Trends: Questions@flippingamericaradio.com Tell us where you're from! 5 Bathroom trends to avoid! And we are not just talking about laying off the late night pizza... News:

73, 77, 45. Harvey, Irma, Marie
$175B, $200B, $75B
Cali wildfires: Could be up to 65B. 21 already dead. 11,000 homes at significant risk, 9.1 million homes at some level of risk.

Emails: Questions@flippingamericaradio.com Tell us where you're from!

Lorraine from Traverse City, MI "You're talking a lot about fix and flips this month and I understand - what with your event coming up. But what about those of us who want to buy rental properties. Will you be doing programs about that?
David from Columbus OH, "I'm retired - don't want to flip houses, but I love your show. I want to be a private funder for your or some of your students. How would I get started?"
Andy from Tryon, NC "I have a business currently, but would be interested in flipping houses as a side hustle. Is that possible and how should I go about it?"
Keith, Powder Springs, GA "I have $50,000 to invest. Not enough to buy a house, but enough to do something, right? What are my options?"
Frankie from Jonesboro, GA "I went to a 3 day event from ________ _______ and got some good information. It was $197 and I was impressed. I wanted to sign up for their main course until I found out it was close to $35,000. I'm not doing that. Where I live I can buy houses for $35,000. I think I'd rather buy a house than pay that much to learn how to buy houses. So anyway - tell us plainly - are you going to upsell us to a $35,000 course too?"
- In a word, no, but let's think about it...
- If you could make 35k per month after paying that, what would the deal look like then? Compare to a franchise… $500k to make $50k per year?? How about switching that around? But I'm not going to try to sell you something for $500k.
- I left 200k on the table, so my education might have cost me that. I'm not charging that. I'm not charging $50,000.
- The real problem is a course doesn't really teach you how to do this. You need a coach -- a mentor. The Flipping America Mentoring Program.
- Our program begins with a surprisingly small commitment, with an agreement that your coach is going to get paid a little bit when you make money. Your first four deals for sure. More if you need it.

Topics: The Secret to Flipping Houses in your Spare Time. Systems Persistence Consistency Discipline Discernment What you need to know to flip: So what do you need to know to really fix and flip houses?

How to find deals
- 10 sources
  - Foreclosure auction an entirely different set of risks and knowledge base.
- Deal Marketing
  - Direct mail
  - Landing page
  - Answering the phone
  - Screening calls
  - Making offers
How to know if it IS a deal
- Diff between profit margin and profit
- Diff between gross profit and net
- Calculating profit
- Estimating repairs
- Determining ARV
How to buy it.
- Negotiating
  - Creating solutions
  - Maximizing profits
- Structure
  - Purchase
    - Cash
    - Equity Partner?
    - Hard Money
    - Private money
  - Owner Finance
  - Installment contract
  - Lease Option
  - Lease Purchase
  - Subject-To
  - Wrap around
- Financing
How to flip it
- Wholesale?
  - Assignable contract
  - Double closings
- Fix it
  - Structural knowledge
    - The parts of a structure
    - Recognizing what needs to be repaired or replaced
    - Design decisions
      - Choosing colors
      - Styles
      - Accessories
  - Contractor vetting and approval
    - Where to find em
    - How to check them out
    - How to interview them
  - Contract law and development
  - Contractor Supervision
  - Payment process
    - Draw schedules
    - Lien waivers
- Sell it
  - Marketing approach
  - Using a realtor
    - How to find
    - How to vet
    - How to interview
    - Whom to hire
    - Manage the relationship
  - Listing and pricing strategies
    - Gathering feedback
    - Managing objections
    - Price reduction strategy
    - Negotiating with buyers
    - Negotiating AFTER its under contract
- Running Your Business
  - Setting up properly
  - Keeping proper records
  - Creating business systems
  - Tax strategies and planning
  - Protecting your assets
  - Proper Insurance for all assets
- Managing tenants
  - Know the laws
  - Prepare for court!
  - Handling service requests
  - Leases!
    - What goes in them
    - What can't be in them
    - Who's on the lease?

That's the TIP. The iceberg is what is underneath all that. It's a lot. But what do you get in return?

The real possibility of a six figure income in a couple of years.
The opportunity to build lasting wealth to pass on to your children and grandchildren
Freedom - work when you want, however long you want, quit when you want or when you can each day.
The opportunity to live life on your own terms. Don't "make a living." LIVE. Do that "higher meaning" thing.

How to Get Started May 06, 2018

Show notes

FAR 075 Expected Air Date: 10/14/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming October 20 and 21. . Join my special guests:

EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
Jennifer Hammond, Host of The Jennifer Hammond show on Sirius/XM Radio The Urban View. Nationally acclaimed realtor and investor extraordinaire.
Jay Conner. America's private money authority
Bruce Mack. Founder of Platinum Finance
Pat Dornan, developer of the "Ultimate Rehab Estimator" and author of "Expect the Unexpected."
Roger Herring, Founder of Investors Accounting.
Karen Anderson, Direct Marketing and List Consultant
Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It's not just owning a business, it's owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that's not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That's right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. The FIRST 20 people who sign up for FlipStarter can save 20% off the admission cost by using the coupon code HOT20. I flipped 75 houses before I finally decided to go to a seminar about flipping houses. I wanted to improve my techniques. Over the years I've attended many training events and I can confidently tell you that FlipStarter is unlike any real estate investor training out there. See for yourself at FlipStarterEvent.com. Trends: Questions@flippingamericaradio.com Tell us where you're from! 5 Bathroom trends to avoid! And we are not just talking about laying off the late night pizza... News:

Looks like Nibiru won't hit us tomorrow. Although since it is supposedly invisible, wait until the Monday show to know for sure.
While we are talking about invisible planets, spend some time this weekend reading up on and searching for Planet Nine. Ten times larger than earth. It's existence explains a lot of weird stuff going on out there past Neptune, but so far no one has ever seen this planet.
Market update - interest rates. Mortgage risk index is down.
Artificial Intelligence and real estate. Home searches influenced by your online behavior.
Warehouse space is hot again! Thanks to e-commerce.
"Surge" in REIT shares - and the retail space is surprising. Yields still a bit less than 5%.
Detroit is #10 is the nation for market heat, but the scammer know this.
- Sameer Beydoun - 24 months in federal pen for an elaborate real estate scam. British backers.
- Irish lottery winner invested in 600 detroit homes in and lost them due to unpaid taxes.
- Belgium investors were victims in a different scam.
- Know the person, or
- Know the property, or
- Have the means and the discipline to verify everything.

Emails: Questions@flippingamericaradio.com Tell us where you're from!

Cheryl from Winston Salem, NC, "I'm so excited! I just got a house under contract! using your formula it looks like I'll make about 40,000. My brother-in-law is going to do the work in exchange for a share of the profit. There are several things I want to do to the house that he says are unnecessary, like granite countertops in the kitchen, and certain flooring choices. Our arguments about this are beginning to dampen my enthusiasm. Please help me decide!"
Gary from Long Beach, CA. "Ok, so what's the first step I need to take in RE investing?"
Sophia from Lancaster, PA. "I really want to start flipping houses and I'm ready to go, but I don't know the first step or steps. What are the first 2 or 3 things I need to do?
Justin, from Denver, CO "I can't be at your event in October, but I NEED this. When will you be in Denver?"
Charlotte, Tampa, and others… Keep listening -- we are working on a solution for you.

Topics: Where do I begin?

Line up the money
Find a deal
Get a mentor

What you need to know to flip: So what do you need to know to really fix and flip houses?

How to find deals
- 10 sources
  - Foreclosure auction an entirely different set of risks and knowledge base.
- Deal Marketing
  - Direct mail
  - Landing page
  - Answering the phone
  - Screening calls
  - Making offers
How to know if it IS a deal
- Diff between profit margin and profit
- Diff between gross profit and net
- Calculating profit
- Estimating repairs
- Determining ARV
How to buy it.
- Negotiating
  - Creating solutions
  - Maximizing profits
- Structure
  - Purchase
    - Cash
    - Equity Partner?
    - Hard Money
    - Private money
  - Owner Finance
  - Installment contract
  - Lease Option
  - Lease Purchase
  - Subject-To
  - Wrap around
- Financing
How to flip it
- Wholesale?
  - Assignable contract
  - Double closings
- Fix it
  - Structural knowledge
    - The parts of a structure
    - Recognizing what needs to be repaired or replaced
    - Design decisions
      - Choosing colors
      - Styles
      - Accessories
  - Contractor vetting and approval
    - Where to find em
    - How to check them out
    - How to interview them
  - Contract law and development
  - Contractor Supervision
  - Payment process
    - Draw schedules
    - Lien waivers
- Sell it
  - Marketing approach
  - Using a realtor
    - How to find
    - How to vet
    - How to interview
    - Whom to hire
    - Manage the relationship
  - Listing and pricing strategies
    - Gathering feedback
    - Managing objections
    - Price reduction strategy
    - Negotiating with buyers
    - Negotiating AFTER its under contract
- Running Your Business
  - Setting up properly
  - Keeping proper records
  - Creating business systems
  - Tax strategies and planning
  - Protecting your assets
  - Proper Insurance for all assets
- Managing tenants
  - Know the laws
  - Prepare for court!
  - Handling service requests
  - Leases!
    - What goes in them
    - What can't be in them
    - Who's on the lease?

That's the TIP. The iceberg is what is underneath all that. It's a lot. But what do you get in return?

The real possibility of a six figure income in a couple of years.
The opportunity to build lasting wealth to pass on to your children and grandchildren
Freedom - work when you want, however long you want, quit when you want or when you can each day.
The opportunity to live life on your own terms. Don't "make a living." LIVE. Do that "higher meaning" thing.

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