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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:

55: [Marketing] Online Lead Generation Part 1: High Converting Websites with Danny Johnson Oct 31, 2016

Show notes

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

What's In Store: Online Lead Generation Oct 03, 2016

Show notes

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.

53: [Marketing] Getting HUD Deals with Brett Snodgrass Sep 26, 2016

Show notes

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.

52: [Fun] You might be a real estate investor if… with Danny Johnson Sep 19, 2016

Show notes

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:

You think "loading the dishwasher" means getting your wife drunk.
You own a homemade fur coat.
You think a chain saw is a musical instrument.
You read the Auto Trader with a highlight pen.

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…

you have a thousand keys and you have no idea which house they belong to.
you buy every directional sign in stock at home depot, then go to another home depot and buy their stock.
you are proud of your lockbox collection.
you happily sit on urine-stained couches. (cheers to Rob Caldwell for this one)

Listen to the podcast for more…

51: [Marketing] Why You're Not Finding Enough Deals with Justin Williams Sep 12, 2016

Show notes

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

50: [Marketing] Getting Deals Doing What Others Aren't with Rod Khleif Sep 05, 2016

Show notes

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

49: [Marketing] Facebook, Bandit Signs and Newspaper Ads with Erik Saengerhausen Aug 29, 2016

Show notes

Over 6 years of developing and building a owner finance real estate investment company. Starting from scratch he has figured out the best way to create and sell real estate notes. He currently "flips" 75+ houses and notes a year and are shooting for 100. He's been in real estate for over 15 years and have done a little bit of every kind of investing. His passion is in the creation of real estate notes because it affects the most people. You are helping the seller by buying their house. Then the neighborhood by rehabbing it. The buyer by offering owner finance and the investor by creating a good quality real estate note.

Erik was on episode 27 where we talked about Finding and Working with the "Right" Contractors

Erik is on track to do 100 deals this year. Obviously, to do a 100 deals in a year, you've got to be good at marketing for motivated seller leads. While Erik does do direct mail to find motivated sellers, he also uses other methods.

Today we talk about those other methods. We focus today's episode on using bandit signs. Disclaimer: Check with your local city offices to make sure it's legal for you to put signs out. They are illegal in a lot of places.

He shares a great tip on getting 4x8 sheets of corrugated plastic that he cuts down into bandit signs that have odd shapes. These signs grab much more attention than printed signs. He then writes on them with giant markers.

This is the way to go to get maximum benefit out of bandit signs.

The next thing we talk about is using newspaper ads to generate motivated seller leads. While print newspapers are dying and don't get the readership they used to, you can still get ads displayed in them and online as most have a website now.

The great thing about online newspaper classifieds is that you can now have your ad show to visitors that might not even go into the classified section of the newspaper. There are a lot of possibilities here and not a lot of competition.

We also talk about using Facebook to target the exact demographics of people investors normally buy from. This varies greatly by area and also by investor, so it's more up to you to determine which demographics you should target.

Facebook is just another medium to have your message displayed in front of people that might need your services. Why not take advantage of the power of Facebook ads to generate motivated sellers leads for your real estate investing business?

48: [Marketing] 20 Deals a Year From Networking with Don Costa Aug 22, 2016

Show notes

Don was on episode 36. Be sure to visit the show notes page at http://flippingjunkie.com/36 to download his Joint Venture Agreement.

Don Costa, is a married father of 3 kids. He has been in the real estate business for over 10 years. He started Knocking on doors and wholesaling properties, and then quickly moved to flipping houses. Currently his office is on track to do a 100 flips this year.

Don is a networking machine! He is on track to do more than 20 flips this year solely from his networking efforts. Crazy!

Networking as a real estate investor is one of the cheapest ways to generate leads and deals and is probably the least utilized method of all.

Don mentions that he feels networking to be the best way to use Other People's Marketing. Many investors use Other People's Money, but few use Other People's Marketing.

He calls all the marketing from other investors in his area and quickly asks if the investor is a wholesaler or a cash buyer.

His conversation is then guided by whichever the investor mentions they are.

If they are a cash buyer, Don wants to find out if they'd be interested in lending on a deal or joint venturing and splitting profits.

If they are a real estate wholesaler, he wants to know how many deals they've done. If they haven't done many deals, he invites them to his offer and provides coaching. This is awesome because he is building a relationship with a new wholesaler that could bring him deals for years to come.

He even offers to do deal analysis for wholesalers so they know they already have a buyer at a given price. This takes almost all the risk out of the deal for them…which is invaluable when you are new to this business.

In this episode, we do a little role playing to see exactly what Don says when he calls real estate investors. The insights are incredible.

Listen to the episode to get the tips that have helped Don Costa to generate over 20 flip deals this year alone.

47: [Marketing] How to Beat the Competition for Great Deals on the MLS w/Jim Huntzicker Aug 15, 2016

Show notes

Get show notes at http://flippingjunkie.com/47

Jim has been a real estate investor in Northern Illinois since 2007, He is also a licensed real estate agent (IL) and has been since 2005. He started out as an aggressive new agent helping investors buy and sell their rehab properties. Then he quickly realized he was on the wrong side of that transaction and that is when he decided to become a real estate investor myself. These days his primary focus as an investor is residential redevelopment (aka rehabbing). He primarily works in Chicago and its NW suburbs and had used his local Multiple Listing Service (MLS) to get 75% of his rehab deals over the last 8 years. Since he got into the real estate business he has been involved in over 450 transactions.His company does 8-10 rehabs at any one time. Though Jim is an active investor he spends as much of his time as possible with his 4 year old twins, Liam & Claire, and his awesome wife who stays home with them. He told us "Everything changed when I had kids. Suddenly I looked at everything differently and literally changed almost everything in my life. I got healthy, quit drinking, lost 50lbs and have never looked back. Life is much more enjoyable on this side of your health".

Jim's secret to getting great deals on the MLS starts with planting the right seeds with the real estate agents involved. Effective communication is absolutely necessary.

You have to convince the listing agent so that they will convince the seller that your offer is worth considering and ultimately worth accepting.

Jim has bought tons of houses where his offer wasn't the highest but he convinced the agents that his was the best offer. To make his offers more appealing he does the following:

1. Waives the inspection

2. Informs the agent that other investors and potential buyers include inspections because they will likely renegotiate after the inspection.

3. If not a bank-owned property, he tells the listing agent to inform the seller that, when he through fixing up the house, most of his houses are sold to young families.

4. He puts up a strong earnest money deposit (around $5,000 for a house with an ARV between $400k and $500k).

5. He puts in for a 2 week closing.

Agents hardly ever know what a seller is going to be willing to take for their house. They all have assumptions and we know what assumptions do…

So, don't ever rely on a listing agent telling you their client will never entertain a low offer. This is crap. They are obligated to submit all offers, so go ahead and submit yours and try to convince the agent of the real benefits of your offer (not just price).

Jim also mentioned that 90% of his MLS deals required follow up. He usually does this using hotsheets to automatically check for status changes for the listings.

If you want to win even more deals, it's best to have a system in place to remind you to follow up just before typical price changes. There's no way to guarantee when there will be a price change but you can set up reminders for yourself for each property very easily in REImobile so that you can set it and forget it.

The criteria for properties he makes offers on are usually based on location but also the presence of one of the following keywords:

estate sale, REO, bank-owned, motivated, needs work, original owner, handyman special, as-is, fixer

46: [Marketing] The Best Direct Mail Lists For Real Estate Investors w/Tom Krol Aug 08, 2016

Show notes

As a Wholesaler with just over 3 years of experience, Tom has had explosive growth. As head "Rhino" of the most successful Tribe of Wholesalers on the planet he has had the fortune of meeting true Go Givers and being a part of some of the best real estate deals in the industry.

When he's not writing, podcasting or creating courses that force others to succeed, you'll find him spending time with his wife and 4 children or vacationing in favorite spots like Key Largo, Hilton Head, Charleston and Savanah.

Currently he is writing his first book, working title "Wholesaling Real Estate Like A Rhino, A No BS No Fluff Step-By-Step Blueprint To Wholesale A House Right Now" is slated for release this fall.

In this episode, Tom shares his top 8 direct mail lists for motivated sellers as a real estate investor.

The best direct mail lists are:

1. Tax Delinquent List - criteria: 2 years behind, are still the homeowner

2. Code Violation List - no criteria

3. Equity List - Absentee Owner, Owner Occupied and Global (all) - criteria: over 45 years old owner, last sale date between 1990 and 3 years ago.

4. Inheritance List - USLeadList

5. Evictions - no criteria

6. Yard Sale/Garage Sale List - tenants sell before they move

7. Probate - Recommends getting course from Rick Ginn

8. Arrest Record List - list of people recently arrested

Tom shares lots of pearls of wisdom in this episode that pertain to investing in general. One of these nuggets is from Jack Bosch. He says that you will get 5 no's before you get a yes when asking people at your local government offices for each of these lists.

The first, second, third, fourth, and even fifth person you talk will tell you the list doesn't exist or that they cannot give it to you. The sixth person will say, 'Here ya go!"

Tom also shares a great tip from his friend, Mark Evans: 'Data not Drama' He is referring to keeping track of your mailing campaigns and the results you are getting.

We make this super easy in REImobile with our Direct Mail Module. Check it out here: http://reimobile.com

Tom also talks about how 'Money is in the Database'. You have to keep track of your leads and follow up! …this is also exactly the reason why we developed REImobile…

I'm telling you, you've got to check out the system.

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