Flipping America

My real estate career is like a Dickens novel. It was the best of times. It was the worst of times. And the quality of those times has always been dictated by the quality of contractors I have used. A good contractor makes this business pretty easy. A bad one will create one challenge after another. Today’s show is a talk I delivered to the Flipping America REIA about how to find and Vet Contractors. Use this information to do a better job of hiring and avoid heartache, headache, and difficulties. 

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)   ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities . 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• This is good advice for most homebuyers. https://www.cnbc.com/2020/09/10/always-use-the-30-30-3-rule-before-buying-a-home-during-pandemic-says-finance-real-estate-expert.html

We conclude our conversation and Q&A with Pat Dornan discussing the cost of repairs and issues surrounding the hiring and supervision of contractors. We talk a little bit about a package of documents I use in my business I call the Contractor Docs. These 11 documents include the ad I run to hire contractors, the application process, payment policy, Lien waivers, construction agreement and much more. I paid my attorney thousands of dollars over the years for some of these and some of the refinements in them have come from the various ways contractors have taken advantage of me. Even though they cost me thousands, I give them to you for free. All I want in return is your email address. Go to my website and click the link right on the home page.

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• This is good advice for most homebuyers. https://www.cnbc.com/2020/09/10/always-use-the-30-30-3-rule-before-buying-a-home-during-pandemic-says-finance-real-estate-expert.html

• Andrew from Ft. Lauderdale: "Is it possible for me to invest in houses in the Buyers Club and then do mostly nothing but receive payments?"
• Joseph, Wake Forest, NC: "If we join the buyers' club, is it possible for us to manage the sales process ourselves?"
• Samuel, Dallas, TX, Christopher, Atlanta, GA, John, Stockbridge, GA, Carol, Pasadena, CA, Peter, Wilmington DE, Maria, Jacksonville, FL, Suzanne, Lancaster PA, Jeff and Jessica, Phoenixville, PA: "Is it too late to try to join the club?"
• Adrian, Tampa, FL, "I could not join the call for the Buyers Club last time. Did you record it?"
• Marcus, Jackson, AL "This is a pretty small town. I own a couple of rentals here, but am very interested in the Buyers Club. I'm nervous about owning rentals in towns I can't get to easily. How would I make repairs. I haven't been able to join one of the webinars yet."
• Candice, San Francisco, CA "What comes with membership? Documentation for purchasing and selling? Access to attorneys across the country? Is it broken down as to the additional fees? Do you own these or are we participating with you in the auction? Is it only through the broker you mentioned or do we find our own?

We conclude our conversation and Q&A with Pat Dornan discussing the cost of repairs and issues surrounding the hiring and supervision of contractors. We talk a little bit about a package of documents I use in my business I call the Contractor Docs. These 11 documents include the ad I run to hire contractors, the application process, payment policy, Lien waivers, construction agreement and much more. I paid my attorney thousands of dollars over the years for some of these and some of the refinements in them have come from the various ways contractors have taken advantage of me. Even though they cost me thousands, I give them to you for free. All I want in return is your email address. Go to my website and click the link right on the home page. 

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)   ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities . 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• This is good advice for most homebuyers. https://www.cnbc.com/2020/09/10/always-use-the-30-30-3-rule-before-buying-a-home-during-pandemic-says-finance-real-estate-expert.html

• Andrew from Ft. Lauderdale: “Is it possible for me to invest in houses in the Buyers Club and then do mostly nothing but receive payments?”
• Joseph, Wake Forest, NC: “If we join the buyers’ club, is it possible for us to manage the sales process ourselves?”
• Samuel, Dallas, TX, Christopher, Atlanta, GA, John, Stockbridge, GA, Carol, Pasadena, CA, Peter, Wilmington DE, Maria, Jacksonville, FL, Suzanne, Lancaster PA, Jeff and Jessica, Phoenixville, PA: “Is it too late to try to join the club?”
• Adrian, Tampa, FL, “I could not join the call for the Buyers Club last time. Did you record it?”
• Marcus, Jackson, AL “This is a pretty small town. I own a couple of rentals here, but am very interested in the Buyers Club. I’m nervous about owning rentals in towns I can’t get to easily. How would I make repairs. I haven’t been able to join one of the webinars yet.” 
• Candice, San Francisco, CA “What comes with membership? Documentation for purchasing and selling? Access to attorneys across the country? Is it broken down as to the additional fees? Do you own these or are we participating with you in the auction? Is it only through the broker you mentioned or do we find our own?  

Ask someone how to know what it costs and the usual answer is, "get out there and fix a few properties - then you'll know." This is almost like saying - go lose money on a few deals and you'll figure it out. This actually works sometimes! But you may prefer to NOT lose money. If so, you MUST know what it's going to cost you to repair a property.

I'm joined on the call by Pat Dornan, licensed contractor, licensed Realtor, rehab investor, and founder of FlipCalcPro. Pat has rehabbed hundreds of properties and brings a wealth of experience to the call. We will consider a number of issues including:

How to look at a house online.

How to estimate after seeing only the outside.

How to look at a house in person.

What things cost

What to pay for labor

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

Ask someone how to know what it costs and the usual answer is, “get out there and fix a few properties - then you’ll know.” This is almost like saying - go lose money on a few deals and you’ll figure it out. This actually works sometimes! But you may prefer to NOT lose money. If so, you MUST know what it’s going to cost you to repair a property. 

I’m joined on the call by Pat Dornan, licensed contractor, licensed Realtor, rehab investor, and founder of FlipCalcPro. Pat has rehabbed hundreds of properties and brings a wealth of experience to the call. We will consider a number of issues including:

How to look at a house online.

How to estimate after seeing only the outside.

How to look at a house in person. 

What things cost

What to pay for labor

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)   ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities . 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

This is your opportunity to ask anything you wish. In a few minutes we are going to join a recent call with the Flipping America REIA where we just opened up and took questions from everyone present. I was joined by my good friend and mentor Gordon Catts, who has been a real estate investor for fifty years. He has traveled the country teaching real estate and was instrumental in forming the Georgia REIA, the Atlanta REIA, the Mountain REIA, which he still owns, and the Flipping America REIA. I've never thrown him a question or situation he wasn't familiar with or didn't have an answer for. He is then the perfect person to join us on this call.

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• Here's a look at eviction statuses across the country: https://www.nreionline.com/multifamily/current-status-eviction-bans-state?fbclid=IwAR3Pl7fjfWzgXm_qUQ4wilhNTzmWybmqIR8DegcKQP-w0cPBa0CYefxYkrs
• The industry pushes back on the new FHA refinancing fee. https://www.housingwire.com/articles/housing-industry-turns-against-fannie-freddies-added-refinance-fee/

This is your opportunity to ask anything you wish. In a few minutes we are going to join a recent call with the Flipping America REIA where we just opened up and took questions from everyone present. I was joined by my good friend and mentor Gordon Catts, who has been a real estate investor for fifty years. He has traveled the country teaching real estate and was instrumental in forming the Georgia REIA, the Atlanta REIA, the Mountain REIA, which he still owns, and the Flipping America REIA. I’ve never thrown him a question or situation he wasn’t familiar with or didn’t have an answer for. He is then the perfect person to join us on this call.

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)   ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities . 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• Here’s a look at eviction statuses across the country: https://www.nreionline.com/multifamily/current-status-eviction-bans-state?fbclid=IwAR3Pl7fjfWzgXm_qUQ4wilhNTzmWybmqIR8DegcKQP-w0cPBa0CYefxYkrs
• The industry pushes back on the new FHA refinancing fee. https://www.housingwire.com/articles/housing-industry-turns-against-fannie-freddies-added-refinance-fee/

COVID-19 presents a number of challenges and an air of uncertainty for those of us in the real estate investment sector. During these tense times, it takes a different approach to find investors and source capital for our ventures.

Some people say: "just find a good deal and the money will find you."

Does that ring a bell? We've all heard it.

Unfortunately, it's NOT that simple.

Especially right now…with such HUGE stock market volatility that have affected so many people (and their retirement savings).

In reality, you need to have a bunch of investors who are already in the wings, ready to roll...

and THEN find a good deal.

...THEN it will work.

So how do you reach out to these investors when you have a good deal?

How do you get them to pay attention during all of this COVID Pandemic stuff?

Today we are going to hear from Dave DuBeau who recently spoke at the Flipping America REIA weekly meeting. This guy has some great ideas about how to raise private money and his presentation was absolutely inspiring. We will join that call in just a couple of minutes.

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• Here's a look at eviction statuses across the country: https://www.nreionline.com/multifamily/current-status-eviction-bans-state?fbclid=IwAR3Pl7fjfWzgXm_qUQ4wilhNTzmWybmqIR8DegcKQP-w0cPBa0CYefxYkrs
• The industry pushes back on the new FHA refinancing fee. https://www.housingwire.com/articles/housing-industry-turns-against-fannie-freddies-added-refinance-fee/

COVID-19 presents a number of challenges and an air of uncertainty for those of us in the real estate investment sector. During these tense times, it takes a different approach to find investors and source capital for our ventures.

Some people say: “just find a good deal and the money will find you.”

Does that ring a bell? We’ve all heard it.

Unfortunately, it’s NOT that simple.

Especially right now…with such HUGE stock market volatility that have affected so many people (and their retirement savings).

In reality, you need to have a bunch of investors who are already in the wings, ready to roll...

and THEN find a good deal.

...THEN it will work.

So how do you reach out to these investors when you have a good deal?

How do you get them to pay attention during all of this COVID Pandemic stuff?

Today we are going to hear from Dave DuBeau who recently spoke at the Flipping America REIA weekly meeting. This guy has some great ideas about how to raise private money and his presentation was absolutely inspiring. We will join that call in just a couple of minutes. 

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437)   ext 1. Leave your message or your question. 

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.  
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities . 
• “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• Here’s a look at eviction statuses across the country: https://www.nreionline.com/multifamily/current-status-eviction-bans-state?fbclid=IwAR3Pl7fjfWzgXm_qUQ4wilhNTzmWybmqIR8DegcKQP-w0cPBa0CYefxYkrs
• The industry pushes back on the new FHA refinancing fee. https://www.housingwire.com/articles/housing-industry-turns-against-fannie-freddies-added-refinance-fee/

We talk a lot on this show about how to make money in real estate. Today we are going to talk about how to keep it. Wealth Preservation is the topic and this is a multi-pronged approach. It's not just tax planning, investment planning or just asset protection. It's an overall strategy to keep more of what you make.

Our guests, Mark Seither and Josh Saunders say It's much harder to re-earn a dollar than to make one in the first place. There is plenty of tax code from the 80,000+ pages that people are not using or aware of.

On this call we will cover these basics in wealth preservation:

• Diversifying taxable income in retirement.
• Leveraging real estate to improve your investments.
• What your investment guy is not telling you about your qualified plan.
• We will discuss 401ks, self-directed Roths, and other retirement strategies.

Plus we will mention more advanced strategies:

• Accelerated depreciation opportunities to offset your taxes,
• Roth conversion strategy, with a Roth conversion calculator.
• Tax efficient legacy plans.

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (76437) ext 1. Leave your message or your question.

Email your questions to [email protected]. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don't mind.

American IRA: www.americanIRA.com

The Flipping America Buyers Club bit.ly/flippingamericabuyersclub.com

• The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
• Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It's a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
• FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .
• "Real Estate Investing Quick Start" Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.

• Here's a look at eviction statuses across the country: https://www.nreionline.com/multifamily/current-status-eviction-bans-state?fbclid=IwAR3Pl7fjfWzgXm_qUQ4wilhNTzmWybmqIR8DegcKQP-w0cPBa0CYefxYkrs
• The industry pushes back on the new FHA refinancing fee. https://www.housingwire.com/articles/housing-industry-turns-against-fannie-freddies-added-refinance-fee/

• Atasha, Atlanta, GA, Thanks for all your great shows!! I am learning so much from the podcasts. I am from Atlanta GA just wanted to know how do I download the show notes.