Flipping America

A few days ago we got a question from Lamar asking, “What questions should new investors be asking?” We liked the question so much we decided to make an entire episode out of it. We conducted a survey online and got some interesting responses which I will share plus I will weigh in. Here’s why this is important. If you are new, you need to make sure that your first project has the best chance of succeeding. In order to do that, you must engage in risk mitigation. And how do you do that? Ask questions. Ask a lot of them. Don’t be afraid to be new. Everyone was at some point. The question may be obvious, even to you, but ask it if you don’t know or are unsure. Today I’m going to focus on questions that may not be so obvious to you, the newbie, that we all wish we WOULD have asked if we had known.

Plus we have news about the world of real estate coming up in just a few minutes.

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.  

Real Estate News-

Local News

The biggest mall owner in the US ‘can’t guarantee’ there won’t be more retail wreckage this year

https://www.cnbc.com/2019/04/30/us-mall-owner-simon-property-group-reports-first-quarter-2019-earnings.html

One of the most valuable malls in America is getting a makeover

https://www.cnbc.com/2019/04/30/westfields-garden-state-plaza-mall-is-getting-a-makeover.html

Rising rents for Millennials give rise to a new breed of lender

https://www.realtor.com/news/real-estate-news/rising-rents-for-millennials-give-rise-to-a-new-breed-of-lender/

CIM Group has announced that its $5 billion development of apartments, offices, hotels and retail at The Gulch will be called Centennial Yards.

https://atlantaintownpaper.com/2019/05/real-estate-briefs-gulch-project-named-centennial-yards/

National News

Do you consider your home a great investment?

https://www.cnbc.com/2019/05/22/do-you-consider-your-home-a-great-investment-think-again.html

26 year old millionaire investor talks about the mistakes he made while buying homes

https://www.cnbc.com/2019/05/23/self-made-millionaire-investor-dont-make-the-huge-homebuying-mistake-i-made.html

Home sales fell in April despite a big drop in mortgage rates

https://www.cnbc.com/2019/05/21/home-sales-fell-in-april-despite-a-big-drop-in-mortgage-rates.html

The most splendid housing bubbles in America

https://seekingalpha.com/article/4258900-splendid-housing-bubbles-america-april-update

International News

Real Estate firm names the top cities for risk-seeking investors

https://www.cnbc.com/2019/05/01/real-estate-firms-names-the-top-cities-for-risk-seeking-investors.html

China-owned tower in New York City reportedly wouldn’t let Amnesty International move in

https://www.cnbc.com/2019/05/14/china-owned-nyc-tower-reportedly-blocked-amnesty-international-lease.html

Venture Capital flows between China and the US surpass direct investment for the first time

https://www.cnbc.com/2019/05/08/venture-capital-flows-between-us-china-surpass-direct-investment.html

The Questions new investors ought to be asking:

• From our friends:
  • Bryan “How do I determine the finished value of my flip home before I begin repairs?
  • Cindy “Could my resources (time, money, skills, etc) produce a better outcome sooner if used elsewhere?”
  • Stewart “How do you quickly determine the cost of repairs to determine if it's a good deal or not? (I'm assuming there's other interest and there's little/no time for due diligence)”
  • Tom: “Why am I doing this? The answer has to be more than ‘make money.’”
  • Victoria: “Do the numbers really work or am I working the numbers?”
  • Jeff: “Am I prepared to lose the money I am investing? Never invest money you can't afford to lose.”
  • Damion: “How do you pull comps if you’re not a realtor?”
  • Pat: “Is there an app that includes both repairs AND comps?” :)
• From Roger:
  • What type of investment is this? (one time income, cash-flow, appreciation, speculation?)
  • When should I expect to see returns?
  • How liquid is my cash?
  • How could this deal bite me in the fanny? In other words, What are the risks and how are they mitigated?
  • What happens if things get sideways?
  • What are the numbers I need to know and how can I know them?
  • What’s Plan B?
    • Pricing alternative
    • Alternative funding source?
    • Alternative exit strategy?
    • Backup Contractor?
  • What is the pricing trend (rents or sales, depending on your exit plan)?
  • For flips, what is the average DoM for this price range in this area?
  • For rentals, what is the long-term outlook for this neighborhood? Which way is it heading? (the best hoods are those that are immune to value swings)
  • For rentals, how are the schools?
  • For AirBnB, are there any rumblings in local government that threaten this business model?
  • If investing cash in someone else’s deal
    • What is that person’s experience?
    • What is that person’s reputation?
    • Do we have values alignment?

Questions

• Sandra, Kansas City, MO, “How do you get in and see all the properties around the country you and your investors are buying?”

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• “It does not matter how slowly you go as long as you do not stop.”
• - Confucius

Jeff is a recovering attorney who spends his time as a real estate investor. Jeff graduated early and with honors from Michigan State College of Law where he was the graduating class speaker. He also holds an M.B.A.

At 30 years old, Jeff checked the last item off his personal bucket list by climbing Machu Picchu. He was on top of the world. As he stood looking down at the lost Incan city, he had been living the life of his dreams. He was well travelled, having previously visited the Pyramids in Egypt, climbed to the top of Mt Sinai, swam with sharks in Belize, and backpacked alone around Europe. He was married to the girl of his dreams. He had a beautiful house in the suburbs and a thriving law practice. Two weeks later, he was in the hospital dying. His business was in disarray, his wife was barely holding it together and he was on his way to bankruptcy.

Today, at 41 years old, just over a decade later, Jeff is back on top. He is a millionaire, with over 140 residential units in his personal portfolio. He also owns multiple commercial properties. He is still married and continues to travel extensively. He is also co-host of the Old Fashioned Real Estate Show where the hosts drink bourbon old fashioneds and talk about real estate.

You can follow him on YouTube and Facebook at Old Fashioned Real Estate or at www.oldfashionedrealestate.com

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That's right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.

News:

• Aby Rosen, the real-estate mogul eyeing French eatery for his luxury skyscraper

https://nypost.com/2019/05/19/real-estate-mogul-eyeing-french-eatery-for-his-luxury-skyscraper/

• IRE Real Assets reported that many leading institutional investors are nearing their portfolio-allocation targets for real estate assets

https://therealdeal.com/national/2019/05/19/waning-appetite-worlds-largest-institutional-investors-may-slow-their-real-estate-acquisitions/

• 17 Real estate agents reveal the worst parts of their jobs, from the lack of steady income to being on call 24/7

https://www.businessinsider.in/17-real-estate-agents-reveal-the-worst-parts-of-their-jobs-from-the-lack-of-steady-income-to-being-on-call-24/7/articleshow/69388468.cms

• Austin tops another list as a hot market for first-time home buyers.

https://spectrumlocalnews.com/tx/austin/news/2019/05/19/newcomer-s-news--real-estate--new-to-austin-notes

• Chamber welcomes Berkshire Hathaway Real Estate

https://patch.com/massachusetts/reading/chamber-welcomes-berkshire-hathaway-real-estate

• Real estate brokers can help coordinate closing date with moving date

https://www.greensboro.com/life/house-calls-real-estate-brokers-can-help-coordinate-closing-date/article_dd9edc63-f5b6-5cc6-9355-7a926ac76522.html

• Real estate investors bet on tech hubs to withstand economic downturns

https://www.geekwire.com/2019/real-estate-investors-bet-tech-hubs-withstand-economic-downturns-study-finds/

• Real estate market in Hamptons is 'in a rut' due to new tax law

https://www.foxbusiness.com/features/real-estate-market-in-hamptons-is-in-a-rut-due-to-new-tax-law-report-says

• Real estate sales in Rockingham County saw their highest gains this year during April, a 7.7% increase in single-family home volume and a 4.5% increase in residential condominiums.

https://www.fosters.com/homes/20190519/seacoast-sees-april-real-estate-blossom

• Senate Bill 669, AN ACT RELATING TO TAXATION — REAL ESTATE CONVEYANCE TAX, which would authorize the city of Newport to impose an additional two percent (2%) real estate transfer tax, has been scheduled for a hearing and/or consideration on Tuesday, May 21st.

http://whatsupnewp.com/2019/05/bill-that-would-impose-an-additional-two-percent-real-estate-transfer-tax-in-newport-scheduled-for-senate-hearing/

• The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) joins the real estate industry in celebrating the May 17 historic passing of the Equality Act in the House of Representatives.

https://rismedia.com/2019/05/19/naglrep-salutes-real-estate-industry-efforts-equality-act-passes-house/

• For the first time in a long time, Denver's bustling real estate market has slowed. The top line: The steep rise in prices is slowing and there are more houses on the market.

https://www.cpr.org/news/story/good-news-anxious-home-buyers-denver-real-estate-has-cooled-a-bit

• Diane Oberhelman inducted into Commercial Real Estate Hall of Fame

https://www.eastpeoriatimescourier.com/news/20190518/diane-oberhelman-inducted-into-commercial-real-estate-hall-of-fame

• Builder and real-estate company combine forces to bring new homes to Butte

https://mtstandard.com/lifestyles/builder-and-real-estate-company-combine-forces-to-bring-new/article_d523b486-5b0d-5bc0-a814-454ef9b68449.html

Your Questions: Send emails to [email protected]

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• "It does not matter how slowly you go as long as you do not stop."
• - Confucius

Jeff is a recovering attorney who spends his time as a real estate investor. Jeff graduated early and with honors from Michigan State College of Law where he was the graduating class speaker. He also holds an M.B.A.

At 30 years old, Jeff checked the last item off his personal bucket list by climbing Machu Picchu. He was on top of the world. As he stood looking down at the lost Incan city, he had been living the life of his dreams. He was well travelled, having previously visited the Pyramids in Egypt, climbed to the top of Mt Sinai, swam with sharks in Belize, and backpacked alone around Europe. He was married to the girl of his dreams. He had a beautiful house in the suburbs and a thriving law practice. Two weeks later, he was in the hospital dying. His business was in disarray, his wife was barely holding it together and he was on his way to bankruptcy.

Today, at 41 years old, just over a decade later, Jeff is back on top. He is a millionaire, with over 140 residential units in his personal portfolio. He also owns multiple commercial properties. He is still married and continues to travel extensively. He is also co-host of the Old Fashioned Real Estate Show where the hosts drink bourbon old fashioneds and talk about real estate.

You can follow him on YouTube and Facebook at Old Fashioned Real Estate or at www.oldfashionedrealestate.com

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.  

News:

• Aby Rosen, the real-estate mogul eyeing French eatery for his luxury skyscraper

https://nypost.com/2019/05/19/real-estate-mogul-eyeing-french-eatery-for-his-luxury-skyscraper/

• IRE Real Assets reported that many leading institutional investors are nearing their portfolio-allocation targets for real estate assets

https://therealdeal.com/national/2019/05/19/waning-appetite-worlds-largest-institutional-investors-may-slow-their-real-estate-acquisitions/

• 17 Real estate agents reveal the worst parts of their jobs, from the lack of steady income to being on call 24/7

https://www.businessinsider.in/17-real-estate-agents-reveal-the-worst-parts-of-their-jobs-from-the-lack-of-steady-income-to-being-on-call-24/7/articleshow/69388468.cms

• Austin tops another list as a hot market for first-time home buyers.

https://spectrumlocalnews.com/tx/austin/news/2019/05/19/newcomer-s-news--real-estate--new-to-austin-notes

• Chamber welcomes Berkshire Hathaway Real Estate

https://patch.com/massachusetts/reading/chamber-welcomes-berkshire-hathaway-real-estate

• Real estate brokers can help coordinate closing date with moving date

https://www.greensboro.com/life/house-calls-real-estate-brokers-can-help-coordinate-closing-date/article_dd9edc63-f5b6-5cc6-9355-7a926ac76522.html

• Real estate investors bet on tech hubs to withstand economic downturns

https://www.geekwire.com/2019/real-estate-investors-bet-tech-hubs-withstand-economic-downturns-study-finds/

• Real estate market in Hamptons is ‘in a rut’ due to new tax law

https://www.foxbusiness.com/features/real-estate-market-in-hamptons-is-in-a-rut-due-to-new-tax-law-report-says

• Real estate sales in Rockingham County saw their highest gains this year during April, a 7.7% increase in single-family home volume and a 4.5% increase in residential condominiums.

https://www.fosters.com/homes/20190519/seacoast-sees-april-real-estate-blossom

• Senate Bill 669, AN ACT RELATING TO TAXATION — REAL ESTATE CONVEYANCE TAX, which would authorize the city of Newport to impose an additional two percent (2%) real estate transfer tax, has been scheduled for a hearing and/or consideration on Tuesday, May 21st.

http://whatsupnewp.com/2019/05/bill-that-would-impose-an-additional-two-percent-real-estate-transfer-tax-in-newport-scheduled-for-senate-hearing/

• The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) joins the real estate industry in celebrating the May 17 historic passing of the Equality Act in the House of Representatives.

https://rismedia.com/2019/05/19/naglrep-salutes-real-estate-industry-efforts-equality-act-passes-house/

• For the first time in a long time, Denver’s bustling real estate market has slowed. The top line: The steep rise in prices is slowing and there are more houses on the market.

https://www.cpr.org/news/story/good-news-anxious-home-buyers-denver-real-estate-has-cooled-a-bit

• Diane Oberhelman inducted into Commercial Real Estate Hall of Fame

https://www.eastpeoriatimescourier.com/news/20190518/diane-oberhelman-inducted-into-commercial-real-estate-hall-of-fame

• Builder and real-estate company combine forces to bring new homes to Butte

https://mtstandard.com/lifestyles/builder-and-real-estate-company-combine-forces-to-bring-new/article_d523b486-5b0d-5bc0-a814-454ef9b68449.html

Your Questions: Send emails to [email protected]

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• “It does not matter how slowly you go as long as you do not stop.”
• - Confucius

We are going to try and catch up with your questions today. So we will lead with that. Then we have more news than we have time to get to I'm sure. Redfin is in our news segment today and we are going to take a peek at three markets - Minneapolis, Indianapolis, and Boulder, CO in our questions segment and I got asked a couple of really interesting questions in the past week - one of them has to do with my formulas and the rules for investing I've developed from them. I get to all of that in a few minutes.

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That's right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.

News:

• Redfin is losing money but making up for it in volume? https://www.fool.com/investing/2019/05/16/with-losses-mounting-in-a-hot-real-estate-market-i.aspx
• CNN is finally reporting on the NAR lawsuit https://www.cnn.com/2019/05/15/economy/real-estate-commissions/index.html
• https://www.opendoor.com/w/guides/housing-market-trends-2019
• Coastal markets will see a decrease, sales will continue upward but slower. Opportunity zones will become a thing... https://theoofy.com/46532/real-estate-trends-and-housing-market-forecast-2019-what-to-expect-from-housing-and-real-estate-during-2019-fri-may-17/
• Because you will do better than 20 or 21. Economy may turn. https://realestate.usnews.com/real-estate/articles/why-you-should-sell-your-home
• Rise in interest rates, millenial home buyers, growth of secondary cities, home affordability, opportunity zones, Alan Donenfeld, CityVest https://www.forbes.com/sites/forbesrealestatecouncil/2019/03/19/five-trends-that-will-impact-real-estate-investing-this-year/#4eee8d951915
• https://www.financialsamurai.com/time-to-start-worrying-about-the-housing-market-again/
• Aby Rosen, the real-estate mogul eyeing French eatery for his luxury skyscraper

https://nypost.com/2019/05/19/real-estate-mogul-eyeing-french-eatery-for-his-luxury-skyscraper/

• IRE Real Assets reported that many leading institutional investors are nearing their portfolio-allocation targets for real estate assets

https://therealdeal.com/national/2019/05/19/waning-appetite-worlds-largest-institutional-investors-may-slow-their-real-estate-acquisitions/

• 17 Real estate agents reveal the worst parts of their jobs, from the lack of steady income to being on call 24/7

https://www.businessinsider.in/17-real-estate-agents-reveal-the-worst-parts-of-their-jobs-from-the-lack-of-steady-income-to-being-on-call-24/7/articleshow/69388468.cms

• Austin tops another list as a hot market for first-time home buyers.

https://spectrumlocalnews.com/tx/austin/news/2019/05/19/newcomer-s-news--real-estate--new-to-austin-notes

• Chamber welcomes Berkshire Hathaway Real Estate

https://patch.com/massachusetts/reading/chamber-welcomes-berkshire-hathaway-real-estate

• Real estate brokers can help coordinate closing date with moving date

https://www.greensboro.com/life/house-calls-real-estate-brokers-can-help-coordinate-closing-date/article_dd9edc63-f5b6-5cc6-9355-7a926ac76522.html

• Real estate investors bet on tech hubs to withstand economic downturns

https://www.geekwire.com/2019/real-estate-investors-bet-tech-hubs-withstand-economic-downturns-study-finds/

• Real estate market in Hamptons is 'in a rut' due to new tax law

https://www.foxbusiness.com/features/real-estate-market-in-hamptons-is-in-a-rut-due-to-new-tax-law-report-says

• Real estate sales in Rockingham County saw their highest gains this year during April, a 7.7% increase in single-family home volume and a 4.5% increase in residential condominiums.

https://www.fosters.com/homes/20190519/seacoast-sees-april-real-estate-blossom

• Senate Bill 669, AN ACT RELATING TO TAXATION — REAL ESTATE CONVEYANCE TAX, which would authorize the city of Newport to impose an additional two percent (2%) real estate transfer tax, has been scheduled for a hearing and/or consideration on Tuesday, May 21st.

http://whatsupnewp.com/2019/05/bill-that-would-impose-an-additional-two-percent-real-estate-transfer-tax-in-newport-scheduled-for-senate-hearing/

• The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) joins the real estate industry in celebrating the May 17 historic passing of the Equality Act in the House of Representatives.

https://rismedia.com/2019/05/19/naglrep-salutes-real-estate-industry-efforts-equality-act-passes-house/

• For the first time in a long time, Denver's bustling real estate market has slowed. The top line: The steep rise in prices is slowing and there are more houses on the market.

https://www.cpr.org/news/story/good-news-anxious-home-buyers-denver-real-estate-has-cooled-a-bit

• Diane Oberhelman inducted into Commercial Real Estate Hall of Fame

https://www.eastpeoriatimescourier.com/news/20190518/diane-oberhelman-inducted-into-commercial-real-estate-hall-of-fame

• Builder and real-estate company combine forces to bring new homes to Butte

https://mtstandard.com/lifestyles/builder-and-real-estate-company-combine-forces-to-bring-new/article_d523b486-5b0d-5bc0-a814-454ef9b68449.html

Your Questions: Send emails to [email protected]

• Alaina, Milwaukee "Is there ever an occasion when you go outside of your formulas?"
• Erica, Atlanta "When you're new and starting out and you want to partner with someone who has money, how do you know this person is the right person?"
• Sandy, Jacksonville, "I can't find a lender who will loan on my first deal. My credit is ok, but I don't have experience. One lender even told me the deal is fine, but they won't lend to someone brand new. I'm about to lose my earnest money. What do I do?"
• Antonio, Boulder, "I'm looking at a house near the university I can pick up for $650,000. It's a 3/2 1300 sf house. I could put 4 college kids in there for $1000 each. Or I could spend about $80k fixing it up and sell for just under $1mil. What would you recommend?"
• Lamar, Las Vegas, "I have some questions, but what I'm really wondering are what are the questions I SHOULD be asking?"
• Nazim, Bloomington, MN, "What should I be looking for in a rental?"
• Erin, Anderson, IN, "In my area where a decent house can be bought for under 150k, it's hard to make more than 10-15k on a flip. I hear these stories about people making 80k on a flip and find it hard to believe. But I see their selling prices are higher. Should I be considering doing this somewhere else?
• Andrea, Atlanta "I'm brand new but really want to do this. What should be my first steps?"
• Jill, Monroeville, PA "I'm looking at an abandoned house that got partially burned about a year ago. The fire was just in the kitchen. How should this affect my offer? Do I need a structural engineer or something?"

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• "It does not matter how slowly you go as long as you do not stop."
• - Confucius

We are going to try and catch up with your questions today. So we will lead with that. Then we have more news than we have time to get to I’m sure. Redfin is in our news segment today and we are going to take a peek at three markets - Minneapolis, Indianapolis, and Boulder, CO in our questions segment and I got asked a couple of really interesting questions in the past week - one of them has to do with my formulas and the rules for investing I’ve developed from them. I get to all of that in a few minutes.

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.  

News:

• Redfin is losing money but making up for it in volume? https://www.fool.com/investing/2019/05/16/with-losses-mounting-in-a-hot-real-estate-market-i.aspx
• CNN is finally reporting on the NAR lawsuit https://www.cnn.com/2019/05/15/economy/real-estate-commissions/index.html
• https://www.opendoor.com/w/guides/housing-market-trends-2019
• Coastal markets will see a decrease, sales will continue upward but slower. Opportunity zones will become a thing...  https://theoofy.com/46532/real-estate-trends-and-housing-market-forecast-2019-what-to-expect-from-housing-and-real-estate-during-2019-fri-may-17/
• Because you will do better than 20 or 21. Economy may turn.  https://realestate.usnews.com/real-estate/articles/why-you-should-sell-your-home
• Rise in interest rates, millenial home buyers, growth of secondary cities, home affordability, opportunity zones, Alan Donenfeld, CityVest  https://www.forbes.com/sites/forbesrealestatecouncil/2019/03/19/five-trends-that-will-impact-real-estate-investing-this-year/#4eee8d951915
• https://www.financialsamurai.com/time-to-start-worrying-about-the-housing-market-again/
• Aby Rosen, the real-estate mogul eyeing French eatery for his luxury skyscraper

https://nypost.com/2019/05/19/real-estate-mogul-eyeing-french-eatery-for-his-luxury-skyscraper/

• IRE Real Assets reported that many leading institutional investors are nearing their portfolio-allocation targets for real estate assets

https://therealdeal.com/national/2019/05/19/waning-appetite-worlds-largest-institutional-investors-may-slow-their-real-estate-acquisitions/

• 17 Real estate agents reveal the worst parts of their jobs, from the lack of steady income to being on call 24/7

https://www.businessinsider.in/17-real-estate-agents-reveal-the-worst-parts-of-their-jobs-from-the-lack-of-steady-income-to-being-on-call-24/7/articleshow/69388468.cms

• Austin tops another list as a hot market for first-time home buyers.

https://spectrumlocalnews.com/tx/austin/news/2019/05/19/newcomer-s-news--real-estate--new-to-austin-notes

• Chamber welcomes Berkshire Hathaway Real Estate

https://patch.com/massachusetts/reading/chamber-welcomes-berkshire-hathaway-real-estate

• Real estate brokers can help coordinate closing date with moving date

https://www.greensboro.com/life/house-calls-real-estate-brokers-can-help-coordinate-closing-date/article_dd9edc63-f5b6-5cc6-9355-7a926ac76522.html

• Real estate investors bet on tech hubs to withstand economic downturns

https://www.geekwire.com/2019/real-estate-investors-bet-tech-hubs-withstand-economic-downturns-study-finds/

• Real estate market in Hamptons is ‘in a rut’ due to new tax law

https://www.foxbusiness.com/features/real-estate-market-in-hamptons-is-in-a-rut-due-to-new-tax-law-report-says

• Real estate sales in Rockingham County saw their highest gains this year during April, a 7.7% increase in single-family home volume and a 4.5% increase in residential condominiums.

https://www.fosters.com/homes/20190519/seacoast-sees-april-real-estate-blossom

• Senate Bill 669, AN ACT RELATING TO TAXATION — REAL ESTATE CONVEYANCE TAX, which would authorize the city of Newport to impose an additional two percent (2%) real estate transfer tax, has been scheduled for a hearing and/or consideration on Tuesday, May 21st.

http://whatsupnewp.com/2019/05/bill-that-would-impose-an-additional-two-percent-real-estate-transfer-tax-in-newport-scheduled-for-senate-hearing/

• The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) joins the real estate industry in celebrating the May 17 historic passing of the Equality Act in the House of Representatives.

https://rismedia.com/2019/05/19/naglrep-salutes-real-estate-industry-efforts-equality-act-passes-house/

• For the first time in a long time, Denver’s bustling real estate market has slowed. The top line: The steep rise in prices is slowing and there are more houses on the market.

https://www.cpr.org/news/story/good-news-anxious-home-buyers-denver-real-estate-has-cooled-a-bit

• Diane Oberhelman inducted into Commercial Real Estate Hall of Fame

https://www.eastpeoriatimescourier.com/news/20190518/diane-oberhelman-inducted-into-commercial-real-estate-hall-of-fame

• Builder and real-estate company combine forces to bring new homes to Butte

https://mtstandard.com/lifestyles/builder-and-real-estate-company-combine-forces-to-bring-new/article_d523b486-5b0d-5bc0-a814-454ef9b68449.html

Your Questions: Send emails to [email protected]

• Alaina, Milwaukee “Is there ever an occasion when you go outside of your formulas?”
• Erica, Atlanta “When you’re new and starting out and you want to partner with someone who has money, how do you know this person is the right person?”
• Sandy, Jacksonville, “I can’t find a lender who will loan on my first deal. My credit is ok, but I don’t have experience. One lender even told me the deal is fine, but they won’t lend to someone brand new. I’m about to lose my earnest money. What do I do?”
• Antonio, Boulder, “I’m looking at a house near the university I can pick up for $650,000. It’s a 3/2 1300 sf house. I could put 4 college kids in there for $1000 each. Or I could spend about $80k fixing it up and sell for just under $1mil. What would you recommend?”
• Lamar, Las Vegas, “I have some questions, but what I’m really wondering are what are the questions I SHOULD be asking?”
• Nazim, Bloomington, MN, “What should I be looking for in a rental?”
• Erin, Anderson, IN, “In my area where a decent house can be bought for under 150k, it’s hard to make more than 10-15k on a flip. I hear these stories about people making 80k on a flip and find it hard to believe. But I see their selling prices are higher. Should I be considering doing this somewhere else?
• Andrea, Atlanta “I’m brand new but really want to do this. What should be my first steps?”
• Jill, Monroeville, PA “I’m looking at an abandoned house that got partially burned about a year ago. The fire  was just in the kitchen. How should this affect my offer? Do I need a structural engineer or something?”

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• “It does not matter how slowly you go as long as you do not stop.”
• - Confucius

Today we are going back to my upcoming book, "Flipping Houses in Ten Days" and I'm going to read Chapter 4: Fund the Deal. What's the point of finding a deal if you can't pay for it. But on the other hand, I'm pretty sure that if you find a really good deal, you'll be able to put together the funding for it or at the very least, get it sold. Why do I say that? Because YOU my friend have access to a powerful resource for wholesaling properties: The FAN, aka the Flipping America Network at flippingamericanetwork.com. You can post it there and if it's a deal, it WILL get sold. You also, by virtue of the fact that you are listening to me right now, have access to me, your humble Flipping America host. I buy deals still and I know other people across the country who are buying them. I might be able to hook you up with either a lender or a buyer. But that's beside the point. In Chapter 4 I explain your various options about deal funding, do a bit of the math for you and give you some practical steps to take to get your first deal funded.

First I need to finish my answer to an email - I ran out of time on the last show.

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That's right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.

News:

• Redfin is losing money but making up for it in volume? https://www.fool.com/investing/2019/05/16/with-losses-mounting-in-a-hot-real-estate-market-i.aspx
• CNN is finally reporting on the NAR lawsuit https://www.cnn.com/2019/05/15/economy/real-estate-commissions/index.html
• https://www.opendoor.com/w/guides/housing-market-trends-2019
• Coastal markets will see a decrease, sales will continue upward but slower. Opportunity zones will become a thing... https://theoofy.com/46532/real-estate-trends-and-housing-market-forecast-2019-what-to-expect-from-housing-and-real-estate-during-2019-fri-may-17/
• Because you will do better than 20 or 21. Economy may turn. https://realestate.usnews.com/real-estate/articles/why-you-should-sell-your-home
• Rise in interest rates, millenial home buyers, growth of secondary cities, home affordability, opportunity zones, Alan Donenfeld, CityVest https://www.forbes.com/sites/forbesrealestatecouncil/2019/03/19/five-trends-that-will-impact-real-estate-investing-this-year/#4eee8d951915
• https://www.financialsamurai.com/time-to-start-worrying-about-the-housing-market-again/

Your Questions: Send emails to [email protected]

• Linda, Jacksonville, FL "This roofer had put on two roofs for me doing the hurricane last year so I trusted him. He did mention that his company had merge with another and his job function had changed. Because of the previous relationship with my other two rentals didn't think I would get screwed, The roof that was removed was shingle so the quotes were given on that. The following invoices were sent out first for repairing the roof $4,531.92 (wasn't aware of a repair quote dated 4/2/19, second invoice 4/3/19 in amount of $5,361.92, third invoice sent 4/11/19 in amount of $11,789.54 & finally invoice no date but received via emails on 4/13/19 after numerous requests for an updated invoice. Yes the insurance company has all invoices but remember I was told because of the pitch shingles could not be installed. The requirement for shingles is a 2" pitch across entire roof. Yes this is a rental & yes I believe I'm being screwed but I will seek legal advise on this problem. Any suggestions will be appreciated. Maybe I need to share this roofing company with the group. What do you think? Surely wouldn't like this to happen to anyone else. By the way, the square footage of the home is less than 1200 sq. ft. & my friend got a modified roof installed 4 years ago & his cost was less $7,000 ( I have his receipt). My friend house was approximately 1400 sq. ft. Thanks again for your interest & help.
• The charges do seem unreasonable. I've used rolled roofing on low pitch roofs and the cost wasn't much different than shingles. The repairs (I'm assuming the decking) might be legitimate, but this could have been known ahead of time to some extent. Did they get up on the roof to inspect or just use a drone? When I get to a situation like this (I've done 900 flips and bought over 200 rentals so far, so I've seen a lot unfortunately) I realize none of the options are really pleasant. But here is how I proceed:
  • Is the insurance company going to pay or fight the charges? If they do not want to pay they may help you fight them.
  • Next I try to talk with the decision maker. My part would go like this: "The pitch of the roof was known when you quoted. I expect you to honor your quote, even if you made a mistake. I've made mistakes in this business and no one is paying for them but me. I shouldn't pay for yours. We have a written and signed agreement."
  • If that doesn't work here's my next step: "I belong to a group of investors here that collectively own hundreds of properties. And I've been in touch with a nationally syndicated radio show (that would be Flipping America, my show). They know about this situation. Is this how you want me to tell them it ended?" You have to be careful when telling your story. If the company is litigious you may face a lawsuit for slander or libel. But you are permitted to state the facts.
  • If that doesn't work (and I'm assuming he completed the work): "Ok then, I'm going to honor what we agreed to in writing even if you won't." That's all I say. This is basically inviting them to lien the property. In Georgia if a contractor liens the property they have 1 year to follow through and sue for foreclosure of the lien or it just expires. If you plan to keep the house the worst the can happen is you get to tell this to a judge. 9 times out of 10 the liens just expire because 9 times out of 10 the contractor knows they can't win. This is personally a bit distasteful for me because I strongly desire to be honorable in all my dealings. But I've realized over the years that people will run over me if I let them. So I stopped letting them.
  • Here's the potential downside. If they have a case and pursue that case, you will have legal expenses and even if you win, you will still have those legal expenses. If they pursue the case within the time limit I would recommend you consider settling at a reduced number. This is not legal advice. Please consult counsel if it comes to that. I'm just making you aware of the practical issue here. Settling is almost always cheaper than paying lawyers to fight it out.
• Sawyer, Birmingham, AL "I haven't been able to make it to one of your FlipStarter events but I have some friends who have been and said it was great - they couldn't believe what they learned for the price of admission. Are you coming to Birmingham or will you be making a video of this available?"
• Alberto, Houston, TX "What are the ways you advertise a wholesale deal?"
• Candace, Pittsburgh, PA "I just saw an ad for a duplex in Johnstown PA at a great price. I called the number and cracked up when Flipping America answered the phone. Why would you sell a duplex in Johnstown? And why sell it for $12,000?"
• Alaina, Milwaukee "Is there ever an occasion when you go outside of your formulas?"
• Erica, Atlanta "When you're new and starting out and you want to partner with someone who has money, how do you know this person is the right person?"

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• "Everything worth doing is worth doing poorly the first attempt and getting better as you go along" —Gordon Catts

Today we are going back to my upcoming book, “Flipping Houses in Ten Days” and I’m going to read Chapter 4: Fund the Deal. What’s the point of finding a deal if you can’t pay for it. But on the other hand, I’m pretty sure that if you find a really good deal, you’ll be able to put together the funding for it or at the very least, get it sold. Why do I say that? Because YOU my friend have access to a powerful resource for wholesaling properties: The FAN, aka the Flipping America Network at flippingamericanetwork.com. You can post it there and if it’s a deal, it WILL get sold. You also, by virtue of the fact that you are listening to me right now, have access to me, your humble Flipping America host. I buy deals still and I know other people across the country who are buying them. I might be able to hook you up with either a lender or a buyer. But that’s beside the point. In Chapter 4 I explain your various options about deal funding, do a bit of the math for you and give you some practical steps to take to get your first deal funded.

First I need to finish my answer to an email - I ran out of time on the last show.  

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.  

News:

• Redfin is losing money but making up for it in volume? https://www.fool.com/investing/2019/05/16/with-losses-mounting-in-a-hot-real-estate-market-i.aspx
• CNN is finally reporting on the NAR lawsuit https://www.cnn.com/2019/05/15/economy/real-estate-commissions/index.html
• https://www.opendoor.com/w/guides/housing-market-trends-2019
• Coastal markets will see a decrease, sales will continue upward but slower. Opportunity zones will become a thing...  https://theoofy.com/46532/real-estate-trends-and-housing-market-forecast-2019-what-to-expect-from-housing-and-real-estate-during-2019-fri-may-17/
• Because you will do better than 20 or 21. Economy may turn.  https://realestate.usnews.com/real-estate/articles/why-you-should-sell-your-home
• Rise in interest rates, millenial home buyers, growth of secondary cities, home affordability, opportunity zones, Alan Donenfeld, CityVest  https://www.forbes.com/sites/forbesrealestatecouncil/2019/03/19/five-trends-that-will-impact-real-estate-investing-this-year/#4eee8d951915
• https://www.financialsamurai.com/time-to-start-worrying-about-the-housing-market-again/

Your Questions: Send emails to [email protected]

• Linda, Jacksonville, FL “This roofer had put on two roofs for me doing the hurricane last year so I trusted him.  He did mention that his company had merge with another and his job function had changed. Because of the previous relationship with my other two rentals didn't think I would get screwed,  The roof that was removed was shingle so the quotes were given on that. The following invoices were sent out first for repairing the roof $4,531.92 (wasn't aware of a repair quote dated 4/2/19,  second invoice 4/3/19 in amount of $5,361.92, third invoice sent 4/11/19 in amount of $11,789.54 & finally invoice no date but received via emails on 4/13/19 after numerous requests for an updated invoice.  Yes the insurance company has all invoices but remember I was told because of the pitch shingles could not be installed. The requirement for shingles is a 2" pitch across entire roof. Yes this is a rental & yes I believe I'm being screwed but I will seek legal advise on this problem.  Any suggestions will be appreciated. Maybe I need to share this roofing company with the group. What do you think? Surely wouldn't like this to happen to anyone else. By the way, the square footage of the home is less than 1200 sq. ft. & my friend got a modified roof installed 4 years ago & his cost was less $7,000 ( I have his receipt).  My friend house was approximately 1400 sq. ft. Thanks again for your interest & help.
• The charges do seem unreasonable. I’ve used rolled roofing on low pitch roofs and the cost wasn’t much different than shingles. The repairs (I’m assuming the decking) might be legitimate, but this could have been known ahead of time to some extent. Did they get up on the roof to inspect or just use a drone? When I get to a situation like this (I’ve done 900 flips and bought over 200 rentals so far, so I’ve seen a lot unfortunately) I realize none of the options are really pleasant. But here is how I proceed:
  • Is the insurance company going to pay or fight the charges? If they do not want to pay they may help you fight them.
  • Next I try to talk with the decision maker. My part would go like this: "The pitch of the roof was known when you quoted. I expect you to honor your quote, even if you made a mistake. I’ve made mistakes in this business and no one is paying for them but me. I shouldn’t pay for yours. We have a written and signed agreement.”
  • If that doesn’t work here’s my next step: "I belong to a group of investors here that collectively own hundreds of properties. And I’ve been in touch with a nationally syndicated radio show (that would be Flipping America, my show). They know about this situation. Is this how you want me to tell them it ended?” You have to be careful when telling your story. If the company is litigious you may face a lawsuit for slander or libel. But you are permitted to state the facts.
  • If that doesn’t work (and I’m assuming he completed the work): “Ok then, I’m going to honor what we agreed to in writing even if you won’t.” That’s all I say. This is basically inviting them to lien the property. In Georgia if a contractor liens the property they have 1 year to follow through and sue for foreclosure of the lien or it just expires. If you plan to keep the house the worst the can happen is you get to tell this to a judge. 9 times out of 10 the liens just expire because 9 times out of 10 the contractor knows they can’t win. This is personally a bit distasteful for me because I strongly desire to be honorable in all my dealings. But I’ve realized over the years that people will run over me if I let them. So I stopped letting them.
  • Here’s the potential downside. If they have a case and pursue that case, you will have legal expenses and even if you win, you will still have those legal expenses. If they pursue the case within the time limit I would recommend you consider settling at a reduced number. This is not legal advice. Please consult counsel if it comes to that. I’m just making you aware of the practical issue here. Settling is almost always cheaper than paying lawyers to fight it out.
• Sawyer, Birmingham, AL “I haven’t been able to make it to one of your FlipStarter events but I have some friends who have been and said it was great - they couldn’t believe what they learned for the price of admission. Are you coming to Birmingham or will you be making a video of this available?”
• Alberto, Houston, TX “What are the ways you advertise a wholesale deal?”
• Candace, Pittsburgh, PA “I just saw an ad for a duplex in Johnstown PA at a great price. I called the number and cracked up when Flipping America answered the phone. Why would you sell a duplex in Johnstown? And why sell it for $12,000?”
• Alaina, Milwaukee “Is there ever an occasion when you go outside of your formulas?”
• Erica, Atlanta “When you’re new and starting out and you want to partner with someone who has money, how do you know this person is the right person?”

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

• “Everything worth doing is worth doing poorly the first attempt and getting better as you go along” —Gordon Catts

FAR 246

Flipping Houses in Ten Days, Ch 3

Expected Air Date: 5/13/19

Opening:

We are back to the book today - my upcoming book, "Flipping Houses in Ten Days." You won't be flipping a house in just ten days, but it's ten short chapters. You read one chapter a day for ten days. If you listen to this show regularly you will eventually get the entire book in audio form and here's a NOT secret for you - if you have the Flipping America app, which is completely free, you will eventually have the entire book. Why am I doing this? It's all about giving value and providing content. Besides - I'll need the audio version of the book, so we will have that ready to go in a month or two. Yeah, it's about efficiency and all that. Today I'm going to read Chapter 3, Analyzing a Deal.

You need the skills to analyze any deal or opportunity that comes your way. And as you progress as a business owner you'll need to translate those analytical skills to different opportunities. We won't get to that translation step in this chapter but I will tell you every step in analyzing a deal, coming up

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, 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.

Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That's right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
• 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.
• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.

News:

• Redfin is testing a feature that will let you offer on properties online. Sellers accept the offer, pay 2% commission. https://www.theverge.com/2019/5/12/18616888/real-estate-redfin-online-house-purchase-buying-zillow-opendoor
• Changing moral compass? This is just a new name for an old marketing strategy: Customer focus. https://www.propmodo.com/how-real-estate-is-adjusting-to-our-changing-moral-compass/
• https://seekingalpha.com/article/4262968-real-estate-outperforms-rent-inflation-heats
• https://www.housingwire.com/articles/49020-equifax-sets-aside-nearly-700-million-for-expected-data-breach-payouts
• https://www.housingwire.com/articles/49017-hud-plan-to-end-public-housing-aid-for-undocumented-immigrants-could-lead-to-evictions-of-55000-children

Your Questions: Send emails to [email protected]

• Anthony, Alexandria, VA, "Just came across your show. Really cool. Do you ever buy properties in other cities? I want rentals, but everything is too expensive here. What should I look for?"
• Dorothy, Villages of Ocala, "I like real estate. I'm a retired realtor. I like the house flipping shows and I listen to your show and enjoy it. I don't want to do all this, but I'd like some income from it. My retirement account is in the stock market and it's too stressful for me. I'm thinking about putting some of it into real estate. What could I do with maybe $100,000?

Comment Line calls and Questions

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Motivational Thoughts for the day

• "Everything worth doing is worth doing poorly the first attempt and getting better as you go along" —Gordon Catts