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Flipping Junkie Podcast with Danny Johnson — Business
Flipping Junkie Podcast with Danny Johnson

Flipping Junkie is a podcast for people addicted to flipping houses, wholesaling houses, and real estate investing. Danny started flipping houses in 2003 and has chronicled his journey to help house flippers both new and experienced. Subscribe for weekly episodes featuring interviews with people just getting started as well as big name investors like Brandon Turner of Bigger Pockets and Justin Williams from House Flipping HQ. The podcast covers a range of topics like what is working today to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determining repair costs, finding contractors and managing rehab crews, what improvements to make and how to quickly sell your houses for big profits and so much more. 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 and how to stay successful to create true financial freedom for yourself and your family.

Latest Episodes:

65: [Day In The Life] My Morning Routine Feb 08, 2017

Show notes

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

64: [Day In The Life] Work the System Feb 07, 2017

Show notes

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

63: [Day In The Life] First Episode of Day In The Life Vlog Feb 06, 2017

Show notes

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

62: [Marketing] Online Auction House Deals with Paul Lizell Jan 30, 2017

Show notes

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.

61: [Working With Sellers] Advanced Real Estate Investor Sales Strategies Jan 23, 2017

Show notes

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.

60: [Deal Analysis] Analyzing Deals Like a Pro with Bill Allen Jan 16, 2017

Show notes

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

59: [Update] Happy New Year 2017: Make This Year Count with Danny Johnson Jan 09, 2017

Show notes

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

108 deals (2/3 or more wholesale)
Growing team
Expanding online lead generation and testing
Melissa heading up the operation - me more consulting role

Real Estate Investor Software Business

Major improvements to LeadPropeller (editor improvements, custom forms, more services)
REImobile will be transformed to fit our operation better and focus on the needs of growing flipping businesses

58: [Marketing] Online Lead Generation Part 4: SEO and Content Marketing with Danny Johnson Nov 28, 2016

Show notes

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

Determine the best keyword to focus on
Come up with a great title
Write the article
Search engine optimize (SEO) the 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

57: [Marketing] Online Lead Generation Part 3: Pay Per Click with Danny Johnson Nov 14, 2016

Show notes

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

56: [Marketing] Online Lead Generation Part 2: Website Promotion with Danny Johnson Nov 07, 2016

Show notes

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

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