7 Figure Flipping

Today you get to climb inside my brain as I share with you a “baker's dozen” of traits that are shared by those who are successful, both in house flipping or any endeavor.  These are the traits that I consistently see in people who are successful, and if you follow these tips, then I have complete faith that you will succeed at whatever you undertake!

Have any questions? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

A shout out to Salem, a member of the House Flipping Mastermind who visited me in Southern California.  He is definitely on fire and is killing it!  I can't wait to see how his business progresses. Thanks for meeting up Salem!

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• Top 6 Methods for Buying Houses in Today's Market
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• Rehab Pricing List
• Property Checklist

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We will have another House Flipping Webinar on Thursday, April 10, 2014 at 6PM (Pacific)/9PM (Eastern). This time I will be focusing on estimating repairs and sharing tips on this vital skill for new investors.

Also, learn more about the “Fail Forward Fast” coaching program and the amazing House Flipping Mastermind group that is doing incredible things.  Click on this link to sign up:

houseflippinghq.com/webinar

In this episode we cover the top traits of successful house flippers, real estate investors, entrepreneurs and business people.

1. They get Educated
   1. You need to learn your craft.
   2. Sources of Education: podcasts, websites, books, seminars, mentors
2. They are Focused
   1. Don't get distracted by shiny objects.
3. They take (MASSIVE) Action
   1. Pick a plan, stick with it and go for it!
   2. Pick actions that generate income rather than “busy work”
   3. You can learn a ton by doing.
4. They Find a Way to make things work
   1. Don't be a “yeah but'er”
   2. Find what works for you and apply those things that make sense
   3. Teach yourself to look for things that will work for you, rather than focus on the things that won't work for you.
5. They Work Hard
   1. You have to put in the time and hard work to get success
   2. If you know how to do the work, you can build the right system
6. They are Decisive
   1. Don't take too long on the small decisions
   2. Do your due diligence and be smart, but don't sweat the small stuff
7. They Understand Risk
   1. Your job is to minimize and mitigate risk, not to be overcome by fear
   2. Don't “what if” yourself to death
8. They Accept Failure
   1. Look at failure as an opportunity to learn – be grateful for it.
   2. Your ability to overcome failure determines your success in business
   3. Every day put on your “problem solving hat” – make it your job to solve problems
9. They Use Systems
   1. Focus on the daily actions that will get you to your goals, but don't focus as much on the goal
   2. If you have systems in place, they will move forward regardless of your motivation
10. They Use Leverage
    1. Know what your time is worth and leverage the power of other people, capital and systems to help you take action
    2. Utilize other people so that you are free to build your business, instead of have your business run you
    3. Know the highest and best use of your time.  Where should your time be spent?
11. They are Consistent
    1. Each day wake up and get to work
    2. Motivation can be a part of your daily life, but consistency breeds success
12. They Surround themselves with the Right People
    1. Utilize the power of a mastermind
    2. Mastermind groups can be in person, online or on the phone
13. They Believe in Themselves
    1. You can do it!
    2. Believe in yourself beyond what other people say or try to convince you of
    3. Most of the time if you ask someone what they think of something you are doing they will give you a negative response

Click a quote to tweet it!

• “You've got to learn your craft” ~ Justin Williams
• “There are a million ways to make a million dollars, but if you focus on all of them (or even a few of them) at one time, you're never going to make them happen” ~ Justin Williams
• “Think less.  Do more.” ~ Justin Williams
• “Take the action that will generate revenue” ~ Justin Williams
• “Teach yourself to look for things that will work for you, rather than focus on the things that won't work for you” ~ Justin Williams
• “Opportunity is missed by most people because it is dressed in overalls and looks like hard work” ~ Thomas Edison
• “Sometimes you just have to make a decision and move forward” ~ Justin Williams
• “Doing nothing is guaranteeing you for failure” ~ Justin Williams
• “Being a successful business person is more about how you react and respond to failures, and how you manage your own internal emotions, than it is just about anything else” ~ Justin Williams
• “Failure is an opportunity to learn” ~ Justin Williams
• “Your systems are more important than your goal” ~ Justin Williams
• “Understand the power of leveraging other people” ~ Justin Williams
• “Consistent daily actions will trump momentary motivation every time” ~ Justin Williams
• “If there is someone else who is successful at something, then you can be too” ~ Justin Williams

Click here to Read and Download the Transcript for Episode 35

• The E-Myth
• Think and Grow Rich
• Tony Alvarez

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

The post HFHQ 35: A (Baker's) Dozen Traits of Successful Flippers, Investors and Entrepreneurs appeared first on House Flipping HQ.

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Scott and Holly McKhann join us on today's podcast episode where they share amazing information about how they run their house flipping business.  From land title deals to the amazing way they are able to acquire deals through just networking, this is an episode you will get a LOT of value out of!

Have any questions for Scott, Holly or I? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

Today's webinar is going to be like none other we've had before.  You definitely don't want to miss some of this exclusive content that we'll be sharing with the attendees about analyzing properties.

Join us by clicking on the link below and be ready to learn a ton about house flipping today, March 27, 2014 at 12 noon (Pacific) / 3PM (Eastern).

houseflippinghq.com/webinar

If you missed the webinar, just click on the link above and you can register for the next one!

In this episode we cover:

• Scott and Holly's journey from being a Civil Engineer and CPA to real estate investing
  • Scott's first land-deal came from his work as a Civil Engineer with home builders which allowed him to quit his job
  • Their first efforts with condo conversions in Texas and then house flipping in California starting in 2008
• A quick introduction to how land deals work and current market trends
  • The difference between a land title deal and building a house on a plot of land
• The methods Holly and Scott used to find and buy properties in the past few years
  • Networking with realtors (Holly is the “networking queen”)
  • The courthouse steps (but not in the last couple years)
• How Holly, the “networking queen”, develops her relationships through networking, which is how they currently find most of their deals
  • How to develop relationships and the most important things to keep in mind
  • A role-playing session on how to develop relationships
• Scott and Holly's process for running a rehab project and how they deal with contractors
• The McKhann's methods for financing their deals
• Why Holly is going to get her real estate license
• Scott and Holly's advice and thoughts on working with your spouse
• Scott and Holly's recommendations to those people first starting out on their house flipping journey

Click a quote to tweet it!

• “Thankfully we've had more ups than downs” ~ Holly McKhann
• “Deals don't just come find you.  You have to get out, meet people and talk to them” ~ Justin Williams
• “I've met a lot of real estate people and a lot of them don't have good people skills” ~ Holly McKhann
• “If the agent already knows all that stuff, they're probably already working with another investor” ~ Scott McKhann
• “Know your buyer and know the neighborhood, and get feedback from the locals who know” ~ Holly McKhann
• “Try to partner up with someone who's already in the business” ~ Scott McKhann
• “Its really hard to do a deal with only your own money” ~ Holly McKhann

Click here to Read and Download the Transcript for Episode 34

• Holly's Phone: 951-836-2000 or send an email to [email protected]
• Star Legacy Homes on Facebook
• Tony Alvarez (www.tonyalvarez.com)
• Bruce Norris and the Norris Group (www.thenorrisgroup.com)
• Business Networking International
• Kristi Cirtwill
• “How to Win Friends and Influence People” by Dale Carnegie

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

The post HFHQ 34: Deal Acquisitions through Networking with Scott and Holly McKhann appeared first on House Flipping HQ.

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Today we are joined by Sabrina Gaunce, the Assistant and right-hand-person for Tony Alvarez, one of the most successful house flippers out there.  We discuss her amazing methods for creating relationships with real estate agents, city officials, inspectors and more!  Plus, a great role-playing phone call and details on how she spends her day.

Have any questions for Sabrina or I? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

Our next house flipping webinar will be Thursday, March 27, 2014 at 12 noon (Pacific) / 3PM (Eastern). Click on this link below to sign up!

Learn how Justin runs his house flipping business, how to connect with other budding house flippers, and ask Justin ANY questions you have about real estate investing and house flipping!

houseflippinghq.com/webinar.

In this episode we cover:

• Sabrina's early beginning as a leasing consultant and how she met Tony Alvarez
• Tony's process for training Sabrina as his house flipping assistant
• For the first few years she followed his system and helped manage dozens of rental properties
  • They currently have 140 – 200 rental properties
• Tony's buying cycle: 1998 he bought a lot of properties, and sold in 2005 and made over 10 million.
• Tony and Sabrina's method for connecting with agents and buying properties
  • How she speaks to 5 new agents and 5 known agents every day to build and establish relationships.
  • PLUS! ~ A phone call role play between Sabrina and an agent.
  • An analysis of the phone call and different ways it could have gone.
  • How to develop relationships with agents
• Sabrina's current Direct Mail approach and the lists they target.
• How Sabrina builds relationships with the city so that she gets calls on property availability
• Sabrina's routine and what she does each day
• How Sabrina uses Craigs List to find deals
• Information on Tony's class “Beyond Flipping” on March 22, 2014 where Justin will be speaking

Click a quote to tweet it!

• “I'm happy to be the person in the background” ~ Sabrina Gaunce
• “We sell just enough to pay the bills and keep everything else” ~ Sabrina Gaunce
• “Agents are not something you have to find.  It is a relationship you have to create and build” ~ Justin Williams
• “Don't waste a phone call” ~ Sabrina Gaunce
• “If an agent brings us a deal, we always give them the option to help us sell the property” ~ Sabrina Gaunce
• “Just stop thinking about it and start doing it” ~ Sabrina Gaunce
• “It's not easy.  It's not like you pick up the phone and the first agent starts shooting you deals” ~ Sabrina Gaunce
• “Acquisitions is a full time job” ~ Justin Williams

Click here to Read and Download the Transcript for Episode 33

• Blog: How I turned 2 weeks of buying frustration into 3 houses in a single day!
• Blog: Behind-the-scenes of Buying 3 Houses in 1 Day: Part 1 – The Morning Deal
• Evergreen Properties
• Tony Alvarez:  The REO Mentor (www.tonyalvarez.com)
• Anchor Loans (Robert Fragoso)

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

The post HFHQ 33: Sabrina Gaunce and the Power of Developing Relationships appeared first on House Flipping HQ.

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Mike Simmons, from Just Start Real Estate, joins us and helps us understand the best way (or at least his best way) to get started as a new real estate investor and house flipper.  He really breaks it down and provides step-by-step processes you can follow to get started today!

Have any questions for Mike or I? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

In this episode we cover:

• Mike's background with real estate starting in 2002 and why it took him 6 years to take action.
• The things you need to do when you first start with real estate.  (Take MASSIVE ACTION)
  • Commit the time to getting out there and start networking at REIAs
    • Tips to be a good networker
      • Dress nicely when you attend events
      • Smile and be presentable
      • Take action!  It will make it easier to talk to people and have them talk to you
    • Be mindful of who you tell — keep away from the negative influences
    • If you do tell people, you don't need to listen to their opinion
    • Give yourself time to get to know people
    • Be uncomfortable! It means you are going in the right direction.
  • Find an agent to help you start generating leads
    • Its not necessary to get your real estate license
    • Interview realtors and find out what they are able to do for you.
    • They should send you qualified leads that you care about.
    • You have to give them good, specific information about what you're looking for
    • Mike's method for getting in touch with realtors
      • Went on realtor.com and looked for properties that fit the criteria
      • Find the realtors that show up on the type of houses that you are looking for
      • Interview the realtors until you find the best fit
    • Treat your realtor with respect
    • You don't need to get in to detail about your business — just about what you're looking for
  • Make a short list of good contractors
    • One method: put an ad on Craigslist (with criteria) and provide a “new” email
    • Walk through a property with them together and get quotes based on what you want to do
    • You learn about rehabbing from contractors
    • The bids will give you an idea of the cost for rehabbing houses
  • Make offers based on the listings your realtor has been sending you (which meet your criteria)
    • You need to educate your realtor on calculating After Repair Value (ARV)
    • Go in to the listings for comparables and see what the houses look like
    • One possible formula: ARV * 0.7 – rehab = Offer
    • There are a lot of methods for finding a proof of funds (POF)
  • Get your financing taken care of
    • This is where you take advantage of those networks you have been building
    • Before you have a house under contract, be sure you have been seeking out financing possibilities
    • Once the house is under contract finding financing should be your full time job
  • Focus on direct mail when you have made some progress with your business
• Things you don't need to do Day 1
  • You don't need to start off forming a corporation in the beginning
  • Business cards are not a priority
  • Logo and branding
  • Making t-shirts with your company name
  • Designing a website

Click a quote to tweet it!

• “The name of the game when you're starting out is MASSIVE ACTION.” ~ Mike Simmons
• “You're better off going 100 mph in the wrong direction than just sitting still doing nothing.” ~ Mike Simmons
• “People are attracted to action takers.” ~ Mike Simmons
• “If you are not putting yourself in uncomfortable situations, you are just not trying.” ~ Mike Simmons
• “Getting your realtor's license doesn't necessarily make you an expert in a lot of areas.” ~ Mike Simmons
• “Don't have a list of to do items that aren't going to make you money in this business.” ~ Justin Williams
• “The more detailed you are about the types of houses you want to buy, the less detailed you need to be in what you're going to do with the listings.” ~ Mike Simmons
• “There are a hundred ways to get started in this business.” ~ Mike Simmons
• “You can't wait until you have a deal under contract to figure everything out.” ~ Mike Simmons
• “This game isn't for the real greedy.  You need to be willing to share the wealth” ~ Mike Simmons
• “This is a team sport.” ~ Justin Williams
• “In this business there are a lot of singles, and very few home runs.” ~ Mike Simmons
• “Always be looking for capital” ~ Justin Williams
• “Its a great business, but there are a lot of ways you can screw it up.” ~ Mike Simmons

Click here to Read and Download the Transcript for Episode 32

• Just Start Real Estate website (http://www.juststartrealestate.com)
• JSRE Podcast (http://www.juststartrealestate.com/itunes)
• E-mail Mike Simmons at: [email protected]
• Realtor.com
• How to work with contractors (HFHQ Article by Mike Simmons)
• Working With Private Money Lenders to Get Your House Flipping Deals Funded!

Our next house flipping webinar will be Thursday, March 27, 2014 at 12 noon (Pacific) / 3PM (Eastern). Click on this link below to sign up!

Learn how Justin runs his house flipping business, how to connect with other budding house flippers, and ask Justin ANY questions you have about real estate investing and house flipping!

houseflippinghq.com/webinar.

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

by Mark Moran, Sung to the tune of Beautiful by Christina Aguillera

Everyday you make offers
And suddenly, an ARV
MLS seems forever
It never goes the way you feel

This is flipping and every single day
Properties go away
Frustration but if you don't give up
You will make a buck
And then you'll find a turn of luck

No matter where you steer
No matter what you hear
A deals around the corner you just have to persevere
No matter what you find
There is no peace of mind
When you get a contact to sign that contract and everything is fine

This is flipping and every single day
Properties go away
frustration but if you don't give up
You will make a buck
And then you'll find a turn of luck

Listen close to this podcast
Learn a lot.  All you got.
Read the blog and make some contacts
It's up to you.  HFHQ

The post HFHQ 32: How to Get Started in Real Estate with Mike Simmons appeared first on House Flipping HQ.

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Tim Gordon, a “sophomore” investor has taken incredible action and shares with us how he got his first deal and the struggles he had.  We talk about benchmarks, success and closing deals.  Plus we get in to some details about financing and rehabbing and much more!

Have any questions for Tim or I? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

Tonight (March 6, 2014) we will have another House Flipping Webinar at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!

This time I'll be focusing heavily on acquisitions!

houseflippinghq.com/webinar.

The winner of the Michael Quarles 1,000 yellow letters give-away is Ed!  Just e-mail Michael at [email protected] to let him know you were the one who won (we have your email on file, so this is how we confirm your identity).

For the rest of you who entered, you can also email [email protected] with the subject line “HFHQ Biz Cards” with your complete name and mailing address and he'll get you the business cards that he mentioned in the podcast episode.  We'll be checking your name against the entries so be sure you actually entered the contest if you send an email!

In this episode we cover:

• Tim's introduction to the potential of real estate investing
• His first experiences with a real estate investment clubs and learning to flip through a 60-day challenge “boot-camp”
  • The specific things Tim did to take action during his 60-day intensive challenge
    • Learn how to comp properties and connect with agents
    • Required you to make over 50 phone calls a week (FSBO, Craigslist, etc.)
    • Trains you to handle rejection
    • Use of Proof of Funds to make offers
    • Required you to make at least 10 offers per week
    • Forces you to make more offers than a normal professional investor makes in a typical year
  • The find whatever you are the most uncomfortable and make sure you learn how to do it.
• Different methods he used to connect with sellers and deals
  • More traditional methods like using the MLS or talking to agents
  • Less traditional methods like going on Craigslist or finding FSBO signs
• Tim's experience with the Flip to Freedom event for wholesalers
• How Tim found his first deal by looking at rental ads on Craigslist
  • Tim's use of $1,250 from his first deal on mailers during Thanksgiving
  • The story of Tim's second deal which forced him to listen and solve problems
• How Tim developed his business during 2013
  • Use of Zoho as a CRM (Customer Relationship Management) system
• Tim's current marketing strategies
  • In the beginning of 2013 Tim was using strictly direct mail
  • Later 40% of deals were through direct mail, 35% were through other wholesalers and 25% were through the MLS.
  • His current focus is on absentee owners although he's done owner-occupants, but hasn't pulled deals yet
  • Using SEO and the web to generate leads
• Tim's next step to build his business by bringing on people to help him automate his systems
• Tim's unique approach to financing through an FHA 203K Loan
  • 3.5% down payment
  • Requires occupancy in one unit for at least a year
  • 203K means the property requires repairs which are amortized over 30 years
  • From single-family to a four-unit property
• How Tim's full time job gives him access to great financing

Click a quote to tweet it!

• “What gets measured gets done” ~ Justin Williams
• “I don't need to reinvent the wheel.  I just need to do consistent marketing on a monthly basis, no matter what the results are.” ~ Tim Gordon
• “I need to have systems in place to track and monitor my leads” ~ Tim Gordon
• “You have to invest to get the results” ~ Tim Gordon
• “You've got to get your hands dirty” ~ Justin Williams
• “Everything I was doing when I didn't have deals was preparing me for when I did” ~ Tim Gordon
• “Once you label yourself as a problem solver, you aren't surprised when problems come up” ~ Justin Williams
• “Reverse engineer the deal to find out who it's best for, and then go find them.” ~ Tim Gordon
• “Once you add value, you get paid” ~ Tim Gordon

Click here to Read and Download the Transcript for Episode 31

• Bigger Pockets
• Bill Tan's San Diego Creative Investor's Association
• InvestClub for Women
• Flip2Freedom with Sean Terry
• Zoho.com
• Danny Fitzpatrick with Wells Fargo in San Diego
• Tim's Email: [email protected]
• Facebook (facebook.com/timgordon)

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

Image Attribution:

The post HFHQ 31: Tim Gordon the Action-Taking Sophomore House Flipper appeared first on House Flipping HQ.

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Today I share some information on how I was able to systematically build my house flipping business so that I only need to work around 5 hours a week and still flip around 100 houses a year.  These are five tips I blogged about on Danny Johnson's Flipping Junkie, but I felt deserved a bit more attention here on the podcast.

Have any questions for me? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

Today I interviewed Brian Davis from the House Flipping Mastermind group who just got his first offer acceptance after 58 days from starting his house flipping journey!  He shares his background, what made him want to start house flipping in the first place, and how he found out about House Flipping HQ and the mastermind.

He also gives details on how he found his property and the work that he will do on the house to add value and increase the ARV so that he can get his projected ROI.  We talk about the importance of taking action and what it takes to move forward.

In this episode we cover:

• How losing rental properties helped me understand the great ROI available from flipping houses
• The power of creating systems to automate and grow your business
• The Five Tips that you can apply to systematize your house flipping business
  • Tip 1: Let others do the leg work on acquisitions
    • Exception: If you are brand new, then do as much property analysis and walk-throughs as you can until you really understand the process.
    • Utilize your agents who are already doing part of the process for you.
    • It will take time, but you can eventually train them to take over more and more of the acquisition and offer making leg work
  • Tip 2: Use a rehab price list
    • This came as a result of me seeing a lot of similarities in the price that materials were costing for our rehab jobs
    • Using a price-list means that you reduce negotiations with contractors and your entire rehab process can be streamlined even more
  • Tip 3: Get those agents to work!
    • The combination of using a general contractor and an agent is equivalent and much more efficient than hiring a project manager.
    • My agents help to manage my rehab project <– yes, you read that right!
    • My contractors make sure the work is 100% finished before the leave a job.  And the agents check the contractor's work and take care of all the small items related to selling a house.
  • Tip 4: Avoid the paperwork pile-up
    • Paperwork causes a big distraction that takes away your productivity and focus
    • I had an attorney create a document that allows me to give authority to specific people to take care of things for me.
    • This might not be for everyone.  I am not providing legal advice.
  • Tip 5: Outsource the busy work
    • Start with the easy tasks and then build from there.
    • Always try to eliminate tasks and replace yourself over time

Click a quote to tweet it!

• “If you keep pushing at it, good things will come with your house flipping business” ~ Justin Williams
• “Just get out there and do it” ~ Brian Davis
• “What's bad is good and whats good is bad” ~ Justin Williams
• “Your house flipping machine will always need a certain amount of maintenance.  But if you build the machine then all you have is maintenance” ~ Justin Williams
• “Make sure it is mutually beneficial” ~ Justin Williams
• “Get those agents to work!” ~ Justin Williams
• “It is impossible to streamline and grow your business if you have your hands in every part of the machine” ~ Justin Williams
• “Try to see, what can you eliminate?” ~ Justin Williams
• “Always ask yourself, how can I 10x myself?” ~ Justin Williams
• “If you're going to think, you might as well think big” ~ Justin Williams

Click here to Read and Download the Transcript for Episode 30

• Just Start Real Estate with Mike Simmons
• Email Brian at [email protected] or call him at (248) 470-6280
• My guest post on Danny Johnson's Flipping Junkie website
• The E-Myth
• The 4 Hour Work Week

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1. Leave a rating AND review on iTunes by going to houseflippinghq.com/podcast or searching for “House Flipping HQ” in the iTunes store and going to our podcast listing.
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We will have another House Flipping Webinar on Thursday, March 6, 2014 at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!  This time I'll be focusing heavily on acquisitions!

houseflippinghq.com/webinar.

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

Image Attribution: Arvindn [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia Commons

The post HFHQ 30: 5 Tips to Create a 5 Hour House Flipping Work Week appeared first on House Flipping HQ.

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Jason and Katherine Grote

Today we are visited by Jason and Kathrine Grote who are two house flippers out of Austin, Texas.  They are doing some amazing things with Bank financing and balancing their work and family life.

Have any questions for Jason, Katherine or myself? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

A question came in from David and Kelly Kent about making offers on the MLS and structuring relationships with agents.  If you're making offers on the MLS you have a lot of competition.  Either you need to be okay with lower margins or medium-low margins and making a LOT of offers.  Full-time MLS offers are time consuming.  After one of my assistants made offers full time for 2 months we only ended up with 3 deals.  It was worth it, but very difficult.  You have to get serious with some direct marketing if the MLS isn't working to get deals.

In this episode we cover:

• Jason and Katherine's journey from Taxi Cabs and Dance Studios to real estate investing
• The importance of utilizing resources like House Flipping HQ and doing your research to know what you need to do
• The challenges of investor clubs in Texas and things to be aware of
• Their current business model consisting of retail, wholetail, and wholesale deals.
  • Retail: Standard MLS listing and flipping
  • Wholetail: Purchasing potential flip properties and selling it to wholesalers on the open market with less fixing up
  • Wholesale: Bringing deals to investors
• Their current methods for acquiring properties using mainly online marketing through their website and how to approach online marketing for acquiring deals
• The importance of understanding what people are going through and how it helps you get referrals.
• Why high-pressure sales are not a good tactic when dealing with real estate
• How Jason and Katherine communicate and deal with sellers
• How people can get started “driving for dollars”
• Their approach to dealing with out-of-state landlords
• The methods the Grote's use to analyze deals and determine the best course of action
  • The flip bucket: a property that works well as a flip or wholesale deal
  • The buy-and-hold bucket: a property that works better as a rental or long-term hold
• How the Grote's use bank financing for their flips and have done it on over 40 deals
• Their approach to rehabbing and fixing up properties
• How the Grote's balance their family and businesses and the importance of setting boundaries and priorities

Click a quote to tweet it!

• “That's the thing about this business.  There is no one manual that you can go to learn it.  You just have to get out there and learn it and talk to people and immerse yourself in it.” ~ Jason Grote
• “For anyone who wants to get started with online marketing … the key is to just start.” ~ Jason Grote
• “Internet leads need to be mixed with other marketing efforts.” ~ Jason Grote
• “You have to be careful how you treat people.” ~ Katherine Grote
• “Yes, we're in the business of making a profit, but at the end of the day everyone has to feel good about the transaction.” ~ Katherine Grote
• “What gives you success for longevity is treating people fairly” ~ Jason Grote
• “These motivated sellers need your help.  You are helping them.  The number one priority is to assist these people and do what is best for them.” ~ Jason Grote
• “Boundaries are really important” ~ Katherine Grote
• “Your business needs to serve you.  You don't serve your business” ~ Jason Grote

Click here to Read and Download the Transcript for Episode 29

• http://www.ibuyaustinhouses.com
• http://www.facebook.com/IBuyAustinHouses

Tiffany Humfeld

This week Tiffany Humfeld dropped by the “studio” and sang an awesome intro for this week's episode.  Thanks Tiffany!

Tiffany is one of the organizers for the great FIBI (For Investors By Investors) meetup in Long Beach, California.  If you are in the area be sure to check them out.  You can get more information at their meetup website here.

You can also check her out at PropertySolved.com.

Our yellow letter contest is still going strong!  Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments for episode 27 and Michael Quarles from yellowletters.com will give 1,000 Yellow Letters to the person with the best answer. The winner will be decided at the end of Tuesday, February 25, 2014. The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.

And for anyone who leaves a comment Michael will also give you free business cards to help your business!

Click here to enter!

We will have another House Flipping Webinar on Thursday, March 6, 2014 at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!

houseflippinghq.com/webinar.

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

Image Attribution: Arvindn [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia Commons

The post HFHQ 29: Bank Financing, People Helping and Life Balancing with Jason and Katherine Grote appeared first on House Flipping HQ.

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Steven and Erin Williams

Today we are visited by my brother, Steven Williams who I've been mentoring with his house flipping business.  This is a “fly on the wall” look at a coaching call where we're talking about his approach during the first couple weeks of his real estate investing journey.  We talk about how to approach his deals, we analyze some properties he's looking at and review first steps Steven can take to “fail forward fast” and make progress.

Have any questions for Steven or myself? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

Our yellow letter contest is still going strong!  Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments for episode 27 and Michael Quarles from yellowletters.com will give 1,000 Yellow Letters to the person with the best answer. The winner will be decided at the end of Tuesday, February 18, 2014. The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.

And for anyone who leaves a comment Michael will also give you free business cards to help your business!

Click here to enter!

In this episode we cover:

• Steven's background and journey before getting started with real estate
• Steven's current plan to grow his house flipping business by taking massive action
• The actions and approaches that Steven has made since going “full time” with real estate investing
• Justin's suggestions on how Steven can approach the first batch of potential properties
• An analysis of the first house Steven is looking at and some possible options
• The importance of helping your real estate agent understand the reasons behind your offers
• How to seek out comps and what to look for to determine your ARV
• A look at the costs associated with buying and selling properties

Click a quote to tweet it!

• “The more uncomfortable you are, the more money you make” ~ Steven Williams
• “Most agents don't understand After Repair Value at all” ~ Justin Williams
• “Call them all, build relationships and find the value” ~ Justin Williams
• “Joining the offer club is a big step” ~ Justin Williams

Click here to Read and Download the Transcript for Episode 28

• Zillow.com
• Steven's Email: [email protected]

I will be speaking at the Orange County Real Estate Forum in Irvine, California, this Wednesday, February 12, 2014 at 7:00 PM. I hope to see you there! Visit www.ocreforum.com for more information.

Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014. Click on this link to sign up! houseflippinghq.com/webinar.

Here are the lyrics for the intro rap from today's episode:

It’s a one for the money, and the show is two
three to get ready with house flipping hq

Don’t call it a comeback, or he’ll mash you up
He’s been flipping these houses like a spatula
All across the southland, and now in to your head
HFHQ is on the inter web
You think you know how to flip from watching DIY?
You better self correct because he’s a heck of a guy
J to the U to the S to the T I N
Listen close cuz I won’t say it again
Get your dose of the flip and you’ll come back in time
from the blog to the pod to the mastermind
it’s your one stop shop to drop the flipping bomb.
House Flipping HQ dot com!

Give Mark a shout-out in the show notes!

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

Image Attribution: See page for author [Public domain], via Wikimedia Commons

The post HFHQ 28: Behind the Scenes of a Coaching Call with Steven Williams appeared first on House Flipping HQ.

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This is Part 2 of our interview with Michael Quarles. Part 1 is right here.

Michael Quarles is a master marketer from YellowLetters.com and talks about his background with house flipping, his philosophy about making a sizable income, and provides a great introduction to yellow letters and zip letters with relation to direct marketing. He even has an amazing freebie for all of you can hear at the end of the interview!

Have any questions for Michael or myself? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

“Don't be a Yeah-But'er“

The most common behavior of people who won't take action is that they invariable use “Yeah, but …” when giving their exuses.  There are two types of people: those who make it work and those who won't. Ryan Skalla called those who won't the “Yeah But'ers”, so I've been using it ever since.  Don't use that phrase and take action!

UPDATE!  This contest has finished!  Congratulations to all our winners!

The winner of the Michael Quarles 1,000 yellow letters give-away is Ed! Just e-mail Michael at [email protected] to let him know you were the one who won (we have your email on file, so this is how we confirm your identity).

For the rest of you who entered, you can also email [email protected] with the subject line “HFHQ Biz Cards” with your complete name and mailing address and he'll get you the business cards that he mentioned in the podcast episode. We'll be checking your name against the entries so be sure you actually entered the contest if you send an email!

Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments below and Michael will give 1,000 Yellow Letters to the person with the best answer.  The winner will be decided at the end of Tuesday, February 18 25, 2014.  The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.

And for anyone who leaves a comment Michael will also give you free business cards to help your business!

Thanks to Chris M. for the great image!

[poll id="2"]

In this episode we cover:

• Why Michael uses an algorithm model to get the best performing lists.
• The importance of not judging people by the condition of their house.
• Michael's proudest experience buying a house and helping someone who needed help.
• Why you shouldn't rehab a house that you would want to live in.
• Separating being charitable vs. running a business as a charity
• Michael's current model for direct mail marketing
• Role playing a call with a potential seller and the exact words Michael would say.
• Michael's analysis of how he talks to sellers on the phone
• Dealing with sellers and Michael's strategies for finding properties
• The four questions Michael asks to sellers to find out if he is interested in the deal.
• How Michael closes his deals and buys properties
• The importance of setting goals, being held accountable and affirmations

Click a quote to tweet it!

• “At the end of the day, We are in the business of buying houses.” ~ Michael Quarles
• “Don't do to the house what you think it should have.  Do what the buyers will think it should have.” ~ Michael Quarles
• “If you try to make your business your charity, you will very quickly not have a business at all.” ~ Justin Williams
• “I require the seller to make me an offer.” ~ Michael Quarles
• “I can't lose what I don't have.” ~ Michael Quarles
• “It's hard for people to have what they see as confrontation.  It's not.  Its negotiation.” ~ Michael Quarles
• “Do you have a house you want to sell?” ~ Michael Quarles
• “Bought a house.  Made some money on it.  Solved a problem.  Made people happy.” ~ Michael Quarles
• “I've bought houses from judges, and from the people judges put in jail.” ~ Michael Quarles

Click here to Read and Download the Transcript for Episode 27

• List Source
• Yellow Letters.com
• Michael's e-mail address.

I will be speaking at the Orange County Real Estate Forum in Irvine, California, this Wednesday, February 12, 2014 at 7:00 PM. I hope to see you there!  Visit www.ocreforum.com for more information.

Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014. Click on this link to sign up! houseflippinghq.com/webinar.

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

The post HFHQ 27: Dealing with Sellers and Effective Rehabs with Michael Quarles (Part 2) appeared first on House Flipping HQ.

Hosted on Acast. See acast.com/privacy for more information.

This is Part 1 of our interview with Michael Quarles.  Part 2 is right here.

Michael Quarles is a master marketer from YellowLetters.com and talks about his background with house flipping, his philosophy about making a sizable income, and provides a great introduction to yellow letters and zip letters with relation to direct marketing.  He even has an amazing freebie for all of you that will come up on Part 2 of our interview.

Have any questions for Michael or myself? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

Thanks to the members of the House Flipping Mastermind Group for their incredible energy!  You guys are amazing!

“Creating systems and working with assistants”

Be particular about the type of communication you are involved in.  Let go and let others do what they are good at.  Don't fill your time and energy with things you don't need to do.  Start assistants off with the lowest hanging fruit and build them up over time.

In this episode we cover:

• Michael's early start working with his father in construction and learning the trade.
• The reason Michael decided to get started with house flipping and steered clear of being a landlord.
• What Michael enjoys about house flipping and real estate investing.
• Michael's answer to the question of whether house flipping is ethical
• How Michael's approach to marketing has changed over time
• Michaels' current methods for direct marketing to sellers
• The example of Geico and the importance of spending money on marketing
• A beginner's approach to direct marketing
• An introduction to yellow letters and zip letters

Click a quote to tweet it!

• “I don't get paychecks, but I get really fat checks. And I kind of like it like that.” ~ Michael Quarles
• “I love the bucket of money” ~ Michael Quarles
• “If you need a tax write off, just make more money” ~ Michael Quarles
• “We solve a problem for the seller that no one else can” ~ Michael Quarles
• “The phone will not ring accidentally” ~ Michael Quarles
• “We can't stop the marketing push.  Keep reinvesting money back in to marketing.” ~ Michael Quarles
• “I would rather have 10% call volume than 50% call volume.” ~ MIchael Quarles

Click here to Read and Download the Transcript for Episode 26

• www.yellowletters.com
• REIG Renovations

Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014.  Click on this link to sign up!   houseflippinghq.com/webinar.

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

Image Attribution: By Petar Milošević (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

The post HFHQ 26: Yellow Letters and House Flipping with Michael Quarles (Part 1) appeared first on House Flipping HQ.

Hosted on Acast. See acast.com/privacy for more information.