Flipping America

FAR 033 News and Questions Emails: Jeremy from Indianapolis How do you get your painter to do the work for $1.25k per square foot of floor space. I’ve talked to 2 painters and they want $2 or $2.50 per square foot. 1400 sf house. 2 guys, 2 days. If he pays those guys $20/hour that’s $320 in labor. $600 for paint. He will have about $160 in Workmans Comp. His only other costs are the wear and tear on his sprayer and other reusable items. If he assesses $100 for those items his costs total $1180. I’m paying him $1750. He’s clearing around $600 and he can still do another house for me this week. He’s not going to get rich from one job, but if I have 8 or 10 houses lined up for him to knock out, he’s going to enjoy a steady paycheck. I pay extra for high ceilings, really rough walls, garage floors, and anything that needs an oil based primer first. So it’s not strictly $1.25 per sf. Jeff, Louisville, KY I like your show and appreciate what you have to say. I want to get some training, but I’m cheap. I am finding a lot of information on the internet for free. Why should I pay for training and oh by the way, do you have an opinion about which free resources are best? Helen, Ocala, FL My husband Bob and I want to buy 3 or 4 rental houses, but we don’t want to manage them. Therefore we don’t care where they are really. Can you help us? Patricia, Greensboro, NC I have two rentals I want to sell. They are rented so I guess I’ll need to sell them to an investor. Would an agent even list these properties? If not, how would I go about selling them? Tim, Las Vegas I think I heard you say something about using a realtor. I’m a professional investor. I can take calls and sell the property myself. Why would I want to give up 6 or 7 percent of the sales price to an order taker? Nick from Aurora, CO. How do you go about hiring a realtor in a new area? What are some of the things you look for? What do you ask them for and what do you promise them? The crooked realtor from Macon story.

FAR 034 Topic A Day In the Life of an Active Investor Emails: Jeremy from Indianapolis How do you get your painter to do the work for $1.25k per square foot of floor space. I've talked to 2 painters and they want $2 or $2.50 per square foot. 1400 sf house. 2 guys, 2 days. If he pays those guys $20/hour that's $320 in labor. $600 for paint. He will have about $160 in Workmans Comp. His only other costs are the wear and tear on his sprayer and other reusable items. If he assesses $100 for those items his costs total $1180. I'm paying him $1750. He's clearing around $600 and he can still do another house for me this week. He's not going to get rich from one job, but if I have 8 or 10 houses lined up for him to knock out, he's going to enjoy a steady paycheck. I pay extra for high ceilings, really rough walls, garage floors, and anything that needs an oil based primer first. So it's not strictly $1.25 per sf. Jeff, Louisville, KY I like your show and appreciate what you have to say. I want to get some training, but I'm cheap. I am finding a lot of information on the internet for free. Why should I pay for training and oh by the way, do you have an opinion about which free resources are best? Helen, Ocala, FL My husband Bob and I want to buy 3 or 4 rental houses, but we don't want to manage them. Therefore we don't care where they are really. Can you help us? Patricia, Greensboro, NC I have two rentals I want to sell. They are rented so I guess I'll need to sell them to an investor. Would an agent even list these properties? If not, how would I go about selling them? Tim, Las Vegas I think I heard you say something about using a realtor. I'm a professional investor. I can take calls and sell the property myself. Why would I want to give up 6 or 7 percent of the sales price to an order taker? Nick from Aurora, CO. How do you go about hiring a realtor in a new area? What are some of the things you look for? What do you ask them for and what do you promise them? The crooked realtor from Macon story.

FAR 034 Topic A Day In the Life of an Active Investor Emails: Jeremy from Indianapolis How do you get your painter to do the work for $1.25k per square foot of floor space. I’ve talked to 2 painters and they want $2 or $2.50 per square foot. 1400 sf house. 2 guys, 2 days. If he pays those guys $20/hour that’s $320 in labor. $600 for paint. He will have about $160 in Workmans Comp. His only other costs are the wear and tear on his sprayer and other reusable items. If he assesses $100 for those items his costs total $1180. I’m paying him $1750. He’s clearing around $600 and he can still do another house for me this week. He’s not going to get rich from one job, but if I have 8 or 10 houses lined up for him to knock out, he’s going to enjoy a steady paycheck. I pay extra for high ceilings, really rough walls, garage floors, and anything that needs an oil based primer first. So it’s not strictly $1.25 per sf. Jeff, Louisville, KY I like your show and appreciate what you have to say. I want to get some training, but I’m cheap. I am finding a lot of information on the internet for free. Why should I pay for training and oh by the way, do you have an opinion about which free resources are best? Helen, Ocala, FL My husband Bob and I want to buy 3 or 4 rental houses, but we don’t want to manage them. Therefore we don’t care where they are really. Can you help us? Patricia, Greensboro, NC I have two rentals I want to sell. They are rented so I guess I’ll need to sell them to an investor. Would an agent even list these properties? If not, how would I go about selling them? Tim, Las Vegas I think I heard you say something about using a realtor. I’m a professional investor. I can take calls and sell the property myself. Why would I want to give up 6 or 7 percent of the sales price to an order taker? Nick from Aurora, CO. How do you go about hiring a realtor in a new area? What are some of the things you look for? What do you ask them for and what do you promise them? The crooked realtor from Macon story.

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

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

FAR 036 Topics: In the news: Seattle is the #1 residential market in the US in terms of growth and heat (not necessarily value). Emails: Ronnie from Boulder CO, "I have kind of a dumb question. How do you pick a name for your company? Mike from Ocala, FL, "I'm interested in this, but completely new to the idea. How do I get started?" Courtney from Atlanta, "I'm in the insurance business but thinking about flipping a few houses here and there. How much of my time will this take?" Steve from Houston, TX, "I've formed my company, secured a domain name for a website, hired a CPA, and talked to a few local realtors. What else do I need to do in order to get ready to enter this business?" Aldo from Long Beach, CA, "I've been flipping 2-3 houses per year. How do I make the move to the next level? I want to be doing 1-2 per month." Beth from Milwaukee, WI, "How do I find my first deal?" Social Media Direct Mail MLS Craigslist Persistent Consistency Lauren from Atlanta, "I love my job and don't want to quit, but I'm interested in passive income from real estate. What's my best move?"

FAR 036 Topics: In the news: Seattle is the #1 residential market in the US in terms of growth and heat (not necessarily value). Emails: Ronnie from Boulder CO, “I have kind of a dumb question. How do you pick a name for your company? Mike from Ocala, FL, “I’m interested in this, but completely new to the idea. How do I get started?” Courtney from Atlanta, “I’m in the insurance business but thinking about flipping a few houses here and there. How much of my time will this take?” Steve from Houston, TX, “I’ve formed my company, secured a domain name for a website, hired a CPA, and talked to a few local realtors. What else do I need to do in order to get ready to enter this business?” Aldo from Long Beach, CA, “I’ve been flipping 2-3 houses per year. How do I make the move to the next level? I want to be doing 1-2 per month.” Beth from Milwaukee, WI, “How do I find my first deal?” Social Media Direct Mail MLS Craigslist Persistent Consistency Lauren from Atlanta, “I love my job and don’t want to quit, but I’m interested in passive income from real estate. What’s my best move?”

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

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

FAR 038 Topics: Real Estate News Investor Uh-Ohs Contractor Fails Investing SCAMS The Trader's Top Questions :

1. What is the acquisition cost?
2. What are the holding / improvement costs?
3. What is the selling price?
4. What will the cash outlay be if I use leverage?
5. What is the return on investment?
6. What is the return on my cash?
7. What is my return on effort?
   1. Wages, whether salaried or hourly are 1 to 1.
      1. Hours
      2. Time
      3. Completed work
   2. Start a small business and to begin with it's as low as ½ to 1.
      1. Add employee to get back to 1 to 1.
      2. Each employee slightly reduces your effort to increase your bottom line.Capitalism is based on the exchange of effort for a living wage. The employer pays a fair wage but it always less than the return that employee will ultimately bring to the company.
   3. Active real estate investing (flipping) still involves effort, but opens up returns in the form of unlocked equity or value creation through improvement.
   4. Active rental investing requires effort but theoretically offers more rewards than exchanging that effort with someone else.
   5. Passive investment has a return of many to 1. Hard to quantify, but the continuing effort put forth is small in comparison to the return.

Emails: Toni from Orlando: How do I decide whether to install hardwoods or just replace the carpet? Carpet is significantly cheaper. Chastity from Dallas, GA: We bought a house where the old garage has been converted into a family room. The room really adds some needed interior space, but it was poorly done and not to code. It will cost as much to make it right as it would to just make it back into a garage. What would you do? Evan from Harrisburg, PA: I have a found what looks like a good funding source online. They say they will provide capital for my business and funding for my deals. I filled out the paperwork and then they told me I just needed to submit $2500 to process the account and set the paperwork up. Bob from Pittsburgh, PA: Should I use one of those 25 year paint products for the exterior of my flip house or just paint it? Francis from Denver: We bought an old one - got into it and found major problems that the GC missed in his original estimates. No way we can make money now. What do we do?