Flipping America

FAR 030 Topics: Remote flipping Infrastructure Local Investors Realtors Closing Personnel Contractors Local private investors Wholesale - get with local investors Retail - build a strong team. Emails: Henry from Ocala FL, “I’m not a realtor so I don’t have access to the MLS. How can I come up with the ARV?” Welcome our new affiliate near Ocala, 97.7. The Villages. Research… InvestorCompsOnline.com Tyler from Milwaukee. I have a great deal on a 4/2.5 in a desirable area and want to get your thoughts. The owner is asking 325,000. They want 10% down and will finance the rest to me at 6%. My payment including taxes and insurance would be just over 2000. I can rent the house out for $3200. It’s in a great area with great schools. It would appraise today at about 340. Comment on owner financing. Michelle from Las Vegas. I have an opportunity to buy a house that needs serious updating. I plan to move in and make repairs as I go. Can you recommend a hard money lender out here in Vegas? The house is selling for $265,0

FAR 031 Topics: Impact of Dodd Frank Repeal on home values.    Wholesale - get with local investors Retail - build a strong team. Emails: Clay from Atlanta, I sold a business and have some cash. A local investor wants me to partner with him by putting up some cash for a downpayment on one of the properties he wants to buy. He’s done a few hundred flips and I’ve known him awhile. I trust him but I still want to make sure I’m protected. What should I do? Interview Guests: Jennifer Hammond Jennifer Hammond Show. Reality Real Estate on Sirious/XM   She ties whatever she does to real estate: i.e. music Has a course on staging, to sell faster and for more money - $997. Youwillchangetheworld.com, scroll down for course.   Million dollar staging secret.   Non-profit groups - increasing RE values. Dr. Betty, value-based leadership. The Secrets of Top Level Performance in Life.   Ben Carson on her show

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

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

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, b

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

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 i

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

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? Wages, whether salaried or hourly are 1 to 1. Hours Time Completed work Start a small business and to begin with it’s as low as ½ to 1. Add employee to get back to 1 to 1. 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. Active real estate investing (flipping) still involves effort, but opens up returns in the form of unlocked equity or value creation through improvement. Active rental investing requires effort but theoretically offers more rewards than e

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?”

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.”

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

FAR 153 Expected Air Date: 05/17/18 Opening What has life handed you? Is it really that easy to make lemonade when life is a bowl of sour cherries? Today I’m going to share with you an essay I’ve written on the subject of Choices. Our lives and even our eternal fates are completely dictated by choices. I would say more but I’ll save it for when we get to the topic. Thanks for joining us today. On this show we try to give you the most complete and up-to-date information about real estate, real estate marketing, and real estate investing. We bring you the news, the trends, the styles, the markets, and the demographics to help you have an edge. We don’t encourage to drop what you are doing and start flipping houses like you see on TV but we do encourage everyone to have real estate as a part of a balanced investment portfolio. On this show we have documented at least 85 ways to make money in real estate, but they all boil down to 3 broad categories. 1. Active purchase and re-sell, 2. Buy and hold for cash flow.

FAR 152 Expected Air Date: 05/14/18 Opening Guest EMCEE Mike Smith “Live from Atlanta, Georgia, it’s Flipping America!” Hey everybody, how’s it going? We are happy to be back with a live group for Flipping Atlanta, the local meetup chapter for Flipping America. We have a great show lined up for you today. As you know we try to bring you the most up-to-date news and information, demographics and trends, methods and investment ideas to help you make the best possible decision in your real estate investments. We don’t encourage everyone to drop what you’re doing and start flipping houses like you see on TV, but we do encourage everyone to have real estate as a part of a balanced investment portfolio. Part of what we do here at Flipping America is feature top investors from around the country, talk about what they are doing, learn from their approaches, their lessons, be entertained by their stories, and benefit from their experience. Tonight we have one of my good friends Malhar Bhagat. Malhar has been running a

FAR 150 Expected Air Date: 05/07/18 Opening Good morning everyone.  If you’ve ever watched one of the house flipping shows on TV you notice that when they finish the rehab work they will move in some furniture and decor items in order to stage the home. This practice is a relatively recent development in the industry and if your only source of information about this is TV, you might assume it’s an industry standard. I have the privilege of being connected with hundreds of actual home investors and for them it’s a different story. I have not conducted a study of my own network yet, but I can tell you without hesitation that most of the investors I know do not stage their homes this way. There’s no question that with some well-placed furniture and decor, the house you want to sell will look much more like a home someone wants to live in. But is it truly worth what it costs? We are going to look into that today and in a few moments I’m bringing in one of the industry leaders in home staging to discuss the topic

FAR 150 Expected Air Date: 05/07/18 Opening Good morning everyone.  As you know I’m a firm believer in the necessity of real estate agents. They provide great value not only in getting our properties sold, but also correct pricing and quite often they are able to provide direction with regard to style and remodeling decisions. A good realtor knows not only the market conditions in the territory you’ve chosen but also knows the subtle differences from street to street that only someone with extensive local knowledge can give you. Can you do this business without a Realtor? Probably, but why would you want to? There are inherent risks in this business and your realtor play a huge role in mitigating that risk. A good realtor will make sure you know your ARV before you buy, will help you set the right price when you are ready to sell, and will take care of the marketing strategy that will get your house sold. I was fortunate early in my career to meet a realtor who has the right stuff. John Durham showed me a str

FAR 149 Expected Air Date: 05/05/18 Opening Last time we talked about the mortgage foreclosure process in Georgia. We are following up today with a conversation about the Tax Lien process here in Georgia. Our guest is Chantelle Owens, lead instructor at the Georgia Tax Lien Bootcamp. Chantelle has been investing in real estate since 1999 and has been a full-time real estate investor since 2001. She began her real estate investing career as a credit investor which eventually escalated into No Money Down Deals, Wholesale Deals, Fix & Flip and Buy & Holds as a landlord. In 2008, after going through a second real estate market crash, Chantelle found her passion with Tax Lien Investing and has made this her primary niche. After 10 years of investing in  GA Tax Liens, Chantelle is an expert Tax Lien Acquisitions and the go-to person for this type of information in GA. She currently invests in Tax Liens full-time and is also a Real Estate Mentor & Coach and teaches workshops through various Real Estate I

FAR 148 Expected Air Date: 05/03/18 Opening This week was the foreclosure auction here in Georgia which means we were busy analyzing properties right up to the last minute before 10 am Tuesday when the auctions began at every courthouse across the state. We get quite a few questions about how to buy foreclosed properties so that will be one of our topics later on. We appreciate all the questions you are sending - some of them are very good questions. If you have questions about anything real estate related, send them to questions@flippingamericanetwork.com. We answer every question that comes in. And some of them get answered on the air, as you will hear in a few minutes. Our next Three Day training camp is coming up May 9-11 and it’s not too late for you to join us. However, since our program is invitation-only, you have to jump through a couple of hoops in order to receive that invitation. Hey it’s not like getting into law school or anything but we just need to talk. You can schedule a call with me by goin

Make sure you also watch the video of this interview. Don actually shows the products he talks about! FAR 147 Expected Air Date: 04/30/18 Opening Hello everyone and welcome to another week of Flipping America. This is the show that teaches you how to make money in Real Estate. We bring you news, information, trends, markets, styles, We also like to talk to people who are getting it done in this business and in a few minutes I’m bringing back Don DeRosa. Don is a local Atlanta investor and mentor. He has a workshop on just about any topic you need when it comes to fixing and flipping houses. Today I’ve asked him to join us and talk about the Smart Home. He’s going to share with us how he turned his own home into a smart home and what he does in all his renovations to add another WOW factor. And you’re not going to believe how much you can do for very little money. It blew my mind and I think if you are not already doing this it will blow your mind as well. Our next Three Day training camp is coming up May 9-11

FAR 146 Expected Air Date: 04/26/18 Opening Hello everyone. It’s a beautiful spring Thursday here at our studios on Peachtree St in Atlanta, GA. We’re going to talk real estate investing for the next 60 minutes, but we are going to approach it from a slightly different angle. Over the last few shows we’ve been talking about a Place to Begin, Hitting Your Stride, and The Next Steps. Today we will continue with some thoughts about Purpose. What drives you today? And I’m not talking about that driverless car you may be in. And I’m not asking you what drives you nuts! I’m asking you to think a bit about your motivation in life. We will dig into that in a few minutes. I also have a stack of questions to answer, including a ton of questions about our Mentoring Program. Our next Three Day training camp is coming up May 9-11 and it’s not too late for you to join us. However, since our program is invitation-only, you have to jump through a couple of hoops in order to receive that invitation. Hey it’s not like getting