Flipping Junkie - Danny Johnson - For Those Addicted To Flipping Houses

Hal Elrod is the #1 best-selling author of what is now being widely regarded as “one of the most life-changing books ever written” titled, The Miracle Morning: The Not-So-Obvious Secret Guaranteed To Transform Your Life… Before 8AM. It is also one of the highest rated books on Amazon with over 1,300 five-star reviews!   What’s even more incredible is that Hal actually died at age 20. He was hit head on by a drunk driver at 70 mph, broke 11 bones, died for 6 minutes, and spent 6 days in a coma only to wake up to face the news that he may never walk again...   Not only did Hal walk, he went on to run a 52-mile ultra marathon, become a hall of fame business achiever, an international keynote speaker, one of the world’s top success coaches, he’s a hip-hop recording artist, has been featured in the Chicken Soup for the Soul book series, writes for Entrepreneur.com, has appeared on radio and TV shows across the country, and the list just goes on and on.   Robert Kiyosaki, author of Rich Dad Poor Dad said the follow

Marco has been interested in real estate since reading Rich Dad Poor Dad at an early age. After laying out a success strategy, he began to acquire the skills he would need in order to build a career as an investor. He gained valuable people skills by working in sales and the restaurant field. The experience he gained by working with a wide spectrum of individuals was critical to his success with investment properties. Since obtaining his real estate license over seven years ago, he has worked for several investment companies in San Antonio and now successfully runs his own business independently. He has spent time in all realms of residential real estate, from standard single family homes to small multi-family properties. Taking what he has learned in other fields, Marco has followed the philosophy that a transaction is never about the property, but the people. In this episode Marco walks us through his start in real estate investing.  He walks us through his reasons and how he setup his companies for asset

Nathan Brooks is a dad, husband, worship leader, and real estate investor in Kansas City.  He’s also a foodie, coffee addict and Crossfit junkie.  He’s a real deal real estate investor that did about 60 deals last year and plans to do even more this year. On today’s episode we talk about how to quickly realize what you’re good at and should focus on,  and what you’re not so good at and shouldn’t be doing. Nathan mentions that if there is a pile of papers on your desk, that’s a pretty good way to figure out what you don’t like doing… A great piece of advice for hiring people to do tasks for you that won’t require a full-time position is to hire friends, family, neighbors, etc to work with you part-time.  It’s a great way to spend time with people that you don’t get to see too often and get things off your plate. We also talk about how being able to explain the exact processes you use in your work to other people helps you to clarify exactly what you exactly do, and improves the processes because you realize th

This is the fifth episode of the flipping houses training series we are doing on the podcast. We’re still in the foundation stage where we help you work on your mindset and improve yourself so that you are prepared to get out of your comfort zone and make things happen.   The podcast is being released every Monday now. This way you can listen in while headed to or from that job that you are working on leaving behind.    :)   Mark J. Podolsky (AKA The Land Geek) is widely considered the Country’s most trusted and foremost authority on buying and selling raw, undeveloped land within the United States.   He has been actively investing in Real Estate and Raw Land since 2001, and has completed over 5,000 unique transactions.  Mark’s company, Frontier Equity Properties, LLC, is an A+ rated BBB real estate company.   Mark has achieved this level of success largely due to his core business philosophy – “Happy Customers Guaranteed.”   Mark is the host of one of the top rated podcast in the Investing Category on

Jason got his first taste of real estate investing after joining a local real estate club. In 2012, he made his first transaction and hasn’t looked back since. Jason founded HoustonHouseBuyers in July of 2013. In its' first year they produced $3MM of gross revenue, through wholesaling, leasing, and flipping 70 houses.  HoustonHouseBuyer's is expected to buy 100 houses in 2015 and produce nearly $6M in gross revenue.    In this episode Jason talks about some of the realities he feels most new investors aren’t prepared for.  We want you to be prepared so we discussed them in length.   Key takeaways are that this should always be looked at as a business and not just something you can do willy nilly.   Always focus on a strategy and become the best at it because you will get nowhere fast by trying to learn and use every tactic out there. Things I’ve run into: Contractors don’t all do a great job, manage themselves, get done on time and all for a great price and you will have to have the courage to fire them. The

Andy McFarland is a self-made real estate entrepreneur who started with nothing and currently makes seven figures a year in his real estate business.   After getting fired from his last W-2 job in 2004, Andy went into real estate full time and has never looked back. Andy currently focuses on wholesaling properties in three different states; Utah, New Mexico, and Indiana. In 2015 alone, he did over 150 deals!   Andy has been married for 10 years and currently resides in Farmington Utah with his beautiful wife and three amazing children. Andy enjoys being around family and friends and continuing to grow and learn every day. You can follow Andy on his real estate journey by going to his website: www.iloverealestatestories.com or on his YouTube channel by searching for I Love Real Estate Stories.   In today’s episode we talk about how people need to take action to overcome fear and find out what they need to learn.   Too many new real estate investors spend countless hours, days, weeks, months and even years stu

Marcus E. Maloney is a Real Estate Investment Strategist that has an eye for real estate oriented solutions.  As the Founder and Principle of 3rd Generation Mgmt & Holding LLC, the firm has done and assisted with an innumerable amount of real estate transactions. Marcus holds a Master of Business Administration; which provides him a proper knowledge and understanding of business applications and practices. As a philanthropic effort Mr. Maloney also has assisted with the development of State licensed facilities that acquire property for transitioning youth.   Marcus’s childhood was a lot like mine in that we both did demo on rehabs as children.  His parents were fixing and flipping and my dad was working as a contractor for real estate investors.  We both learned how hard that kind of work was and that may be one of the reasons we both decided to aim bigger.   This episode covers a very important step in your path to becoming a successful real estate investor.    Marcus’s first goals when he was getting s

Brant is a full-time real estate investor, business owner, entrepreneur, author & speaker. He has been featured on Fox News, hosts local seminars and is even being considered to star in one of those “Flipping Houses” TV shows.    Brant is a proverbial ‘rags to riches’ story, while living in an apartment and having no money, was able to purchase his first investment property on a credit card! He went on to by 10 properties that same year with no money down and within only a few years later, has rehabbed hundreds of homes and now owns a portfolio of rental properties worth millions and routinely flips houses for fast cash.    Brant is a former police officer who prides himself on integrity and serving others. He is a husband and father of three and enjoys helping and teaching people to experience the freedom and success he has achieved through successfully investing in real estate.    “I want to see you succeed and I don’t want to let you down, I hope you take action today and see incredible results s

Danny is explaining the new direction for the Flipping Junkie Podcast in this episode.   We are moving to a format where each episode flows from the previous one.  The first episodes will cover mindset and then move into building your team, funding, analyzing deals, finding deals, negotiating, working with contractors, determine repair costs etc.   It’s basically a free real estate investing training course in podcast format!   Let us know what topics you want covered and who you’d like to hear Danny interview for each topic by leaving a comment on the Facebook page at http://facebook.com/flippingjunkie   Also Melissa (Danny’s wife) is going to be sharing more of what we are doing in our house flipping business for 2016 on the FlippingJunkie.com blog and on Instagram (http://instagram.com/flippingjunkie).   We’re going to flip over 100 houses this year.  Follow along and let us know what you want to learn about.

Jason got his first taste of real estate investing after joining a local real estate club. In 2012, he made his first transaction and hasn’t looked back. Jason founded HoustonHouseBuyers in July of 2013, in its' first year produced $3M of gross revenue, through wholesaling, leasing, and flipping 70 houses.  HoustonHouseBuyer's is expected to buy 100 houses in 2015 and produce nearly $6M in gross revenue.      Jason has more than a decade of experience in risk management in the private and public sector. He managed the risk finance program for The University Of Texas Health Science Center at Houston. During his tenure he managed the workers’ compensation program for 5,000 employees, property conservation program for $2B in insured assets, business continuity and emergency response program. He also managed the Fire and Life Safety program responsible for nearly 5MM gross square feet of laboratory, class room and office space. His program additionally reviewed plans for new biomedical research facilities, one f

Nathan Cron is the broker at New Western in San Antonio and Austin.  They did 370 deals last year!    Nathan is also a good friend of mine and we have done a lot of business together.  He is one of my ‘go-to’ guys whenever I wholesale a deal.    In this episode, Nathan shares how he got started in this business by answering a newspaper ad after college.  He credits his success to being blessed to get started with that company and getting the proper training.  He now gives back by helping people get started through New Western.   He shares the stories of a couple of deals where he bought them, fixed them up and then rented them out for incredible cash flow.   Nathan shares my belief that it’s important to buy conservatively (cheap) and try to stay as debt free as possible.  We talk for a while about how the market is always cyclical and if you want to be successful throughout each cycle, you have to be somewhat conservative.   Nathan’s strategy for attaining his goal of $10,000 month in passive income is just

Anybody that’s followed the flipping junkie blog for any length of time knows I don’t care much for rentals (really, more specifically, managing rental properties).  I really enjoy just fixing up a piece of junk house and selling it quickly for a nice profit.  I’m sure I could learn to love rentals if I just knew how to do it with as little hassle as possible.  That’s why I decided to have todays guest on the show.  He is an expert on cash flowing houses and apartments.   This episode was packed for of information from Joe Fairless.  He controls more than $21 million worth of real estate, attends more Third Eye Blind concerts than anyone else, is an author and comedian, and host of the very popular Best Real Estate Investing Advice Ever podcast.   Joe was very courteous today as I had problems with audio that delayed the recording of the interview for about 5 hours…. Luckily, he was flexible and was still able to be on the show.  So, extra thanks to him for that.   In this episode Joe talks about the four sin

Mitch Stephen has been flipping houses in San Antonio for over 20 years.  Over that time, he’s managed to purchase over 1000 houses!      He specializes in owner financing properties.    He is also the author of several books.  One is My Life and 1000 Houses: Failing Forward to Financial Freedom, which details his journey in real estate investing and My Life and 1000 Houses: 200+ Ways to Find Bargain Properties.   And just to show you what kind of guy Mitch is, I want to share the story of how I got his first book.   I found out about it when it first came out and ordered it right away.  I didn’t receive it within a day or 2 and, honestly just wanted to say hello to Mitch so I called him.  He promptly drove 45 minutes to my houses and personally delivered the book to me.  That’s incredible service!     In this episode Mitch talked us through a typical owner finance deal where he can buy a house cheap and owner finance it to a buyer as-is.  There are a ton of benefits to doing this instead of renting.    First

Tucker owned a mortgage company and switched to investing around 2008-2009.   He wholesales, rehabs and does new construction.   Tucker talks about the transition from rehabbing to adding additions and moving into knock down and new build.   Learn how he determines which strategy he is going to pursue with the deals he gets.   He also tells us how he uses driving for dollars and direct mail to get his deals.   Tucker shares how he deals with the high levels of competition with key tips on how to talk to sellers to improve your chances of getting them to sell to you because they like you more.   Motivated sellers sell at a discount because they want the ease of disposing of a property.  They know they are giving up equity in exchange for a quick, hassle-free sale.    “We’re in the business of getting people to exchange equity for ease of transaction.”

Mark Ferguson fixes and flips 10 to 15 houses a year and owns 15 long-term rentals.  His grand plan is to purchase 100 rental properties by January 2023.   Mark tells us about how he got started working with his dad, who is a Realtor and house flipper.   In this episode, Mark shares his strategies for competing for properties on the MLS.  Key points include:   checking for new listings multiple times a day getting out to see each house and make an offer within hours have assistant in his office draw up the offer contract and send it to him to docusign and then forward to the listing agent   He was also gracious enough to share his strategies on making his offers stand out by making them stronger.  Some of them include, increasing the amount of earnest money, remove any contingencies (including the inspection contingency) and offering to close quickly.   Mark is smart because, even though his market is crazy hot right now as it is in many other places around the country, he has kept to his buying criteria. 

Seth Williams is an experienced land investor, residential income property owner and commercial real estate banker. He is also the Founder of REtipster.com - a real estate investing blog providing real world guidance for part time real estate investors.   This interview is packed full of interesting information about buying and selling vacant lots….and the really cool thing is that most of it relates to buying and selling houses.    Find out how he builds a mailing list that typically gets better than a 10% response rate along with the exact message he puts on his postcards.   Learn how he analyzes these deals so that he knows what he can offer and still make a great profit.   Seth also shares how he is able to sell these lots for passive income and make even more money.   There were several things that surprised me during the interview, like when he informed me that most people that buy lots from him aren’t going to build houses on them.  Find out why, in today’s episode.     Top 3 Things We Love (and Hate)

Kevin Ramirez is from Venezuela living and is doing business in Raleigh, North Carolina.   He started in Real Estate at 19 years old with a flip, found a JV partner to fund the whole deal and after that fell in love with the business.  He currently focuses on rehabbing and wholesaling. Every deal he has done has been without his own money.   Currently 21 years old, still a one man operation, he is working on building systems to automate his business. With 19 deals to date in 2015 he is looking to close the year with 25.    He doesn’t yet consider himself an expert and stays open to learning more and more every day.   What you will learn in this episode:   How Kevin Ramirez was able to get funding for his first deals even though he was 19 years and new to the business Find out how his first flip made a total profit of $65,000 Where he found his money partners and how he got them on board with him What key points need to be covered in a Joint Venture agreement when flipping   Kevin’s first deal generated a

Sharon Vornholt is the owner of Innovative Property Solutions in Louisville, KY. She has been investing in real estate since 1998 and has been a full time wholesaler since 2008. Sharon is the creator of the Louisville Gals Real Estate Blog and the popular podcast “Let’s Talk Real Estate Investing”. She is also a mentor and a coach who loves teaching others how to succeed in this business.    How she got her start Sharon’s dad was a contractor that used to drag her to a lot of different job sites. She owned and operated a house inspection company for 17 years.  She then attended a Real Estate Investor Association meeting and learned about flipping houses. She then started rehabbing. Her initial plan was to rehab and get big chunks of money to buy rental properties with. That worked for a while, but then the market changed….big time.  Wholesaling houses In 2008, she found it difficult to sell houses (as did everybody across the country). This is when she found out how awesome wholesaling was. She decided to try

In this episode, Mike Simmons shares awesome information about his house flipping business.   Having an accountability partner in this business can make all the difference in the world.  Mike’s wife was his main accountability partner that kept him in line and working to make his business a success.   Keys to finding and approaching a mentor:   Go to REIAs and Network Provide value - If don’t have much money, donate your time Ask around for who is doing the most deals and approach them to be your mentor Get started by educating yourself and start taking action by doing some marketing to find some leads - when you have a lead you can take to a potential mentor, they will for sure listen to you and be more inclined to work with you   Mike shares how he found a great real estate agent to find him deals.   He also reads the copy of the post card that he uses to generate lots of leads and the criteria he uses for generating his mailing list.

Mike Hambright is a Real Estate Entrepreneur.  He’s purchased hundreds of houses over the past few years, along with his wife, Lindsay.  Mike is a professional rehabber, wholesaler, and owns a single family rental portfolio.  He is also a mentor and coach. Some of you may know Mike as the founder of FlipNerd.com, the leading social platform for real estate investors where investors find and market wholesale deals, find and build a vendor team, build community with other investors, and much more…. a super cool site. He and his wife were in the corporate world before getting into real estate and he came to the realization that he needed to be in control of his income.  That’s when he got into real estate investing. In this episode, we delve deep into how to determine repairs costs for typical rehabs.  This is something many of you out there are struggling with and definitely something I struggled with early on. If you can accurately determine repair costs for a rehab, you could lose money on a flip.  Not good.