Flipping America

FAR 062 Expected Air Date: 9/4/17 Topics: Mark your calendar now and plan to attend “FlipStarter” is coming September 30 and October 1. Join my special guests:

• EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services.  He will be speaking about asset protection through Private Asset Trusts.
• Jennifer Hammonds, Jennifer Hammonds show. Nationally acclaimed realtor and investor extraordinaire.
• Jay Conner. America’s private money authority
• Bruce Mack. Founder of Platinum Finance
• Banks Brazell, ReBuild Co, a leading home builder and remodeler in the Southeastern US.
• Roger Herring, Founder of Investors’ Accounting.
• Karen Anderson, Digital Marketing and List Consultant
• Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
• And of course, me, the Flipping America guy, Roger Blankenship. I’ve made my career in real estate investing primarily by doing it rather than talking about it. I’ve flipped hundreds of houses and I’m going to show you how to do it. I have a few techniques no one else uses or teaches, but I’m going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It’s not just owning a business, it’s owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that’s not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That’s right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com.   Our thoughts are with everyone in Houston and surrounding areas impacted by Hurricane Harvey. You are in our prayers today. Trends: [email protected] Tell us where you’re from!

• How to think strategically about overpriced markets.
  • Consider your exit plan. If you are flipping, just do your thing.
  • Deals may be harder to find, but quicker to sell
  • Do not intentionally do marginal deals.
  • You may have to let the cruel world of reality thin the herd of investor wanna-bes.
  • Learn the art of remote flipping and even remote rentals.
  • If holding, think very carefully about buying in a market where prices are rising faster than income can keep up. Why?
    • You need to be able to charge enough rent to make the property cash flow properly.
    • People need to be able to afford their rent
    • A correction is on the way. It’s inevitable. When people can no longer afford the prices, they will no longer buy. When demand shrinks, prices will come down. You don’t want to buy at the top.
  • Reality: People live near jobs, education, and opportunity. Find communities with a diversified solid base of employment.
  • Put your eggs in multiple baskets.
    • Different asset types?
    • Different locations definitely.

News:

• Houston Under Water
• Canada Real Estate in Trouble?
• Canada Real Estate NOT in trouble.

Emails: [email protected] Tell us where you’re from!

• Scott from Macon, GA “My contractor got started a few days ago and put in for his first draw. I went to the house and noticed that he had already painted all the walls, even though there were still some repairs to be made. His crew even painted one wall that will be removed. When I asked him about it, he said this was just a primer coat and it helped them see the repairs that needed to be made. But it was the chosen wall color, not primer. He told me it didn’t matter what I used for primer - just needed two coats. And he billed me on the draw for ½ of the painting. I’m thinking something doesn’t seem right about this…”
• Deanne from Pittsburgh, PA. “Is there a database of bad contractors somewhere on the internet? I want to keep people from hiring this guy I just fired. He’s a crook."

FAR 063 Expected Air Date: 9/7/17 Emails: [email protected] Tell us where you're from!

• Cindy from Gulf Shores AL: "is the 'no money down' deal a real thing? I hear it all the time on TV and infomercials. It seems too good to be true."
• Fred from Clarksville, IN: "I'm trying to buy a house to live in, but it needs repairs before I move in. Do you know a hard money company that will loan me the money?"
• William from Savannah, GA: "What do you know about investing in historic houses? I'd like to know your thoughts."
• Shay from Seattle, WA: "What are some of the criteria you think about when choosing a remote market. I'm not having any success finding a deal here in Seattle."
• Willy from Westchester PA: "I have two possible deals to buy. The better one is about a 30 minute drive further away. Which should I do?"
• Abby from Pittsburgh, PA: "We bought our first house. Our mortgage broker told us we made enough income to qualify for another house, such as a rental. The extra income seems like a great idea, but we heard your show and thought we would get your thoughts. If we were going to do this, what should we look for?"

FAR 063 Expected Air Date: 9/7/17 Emails: [email protected] Tell us where you’re from!

• Cindy from Gulf Shores AL: “is the ‘no money down’ deal a real thing? I hear it all the time on TV and infomercials. It seems too good to be true.”
• Fred from Clarksville, IN:  “I’m trying to buy a house to live in, but it needs repairs before I move in. Do you know a hard money company that will loan me the money?”
• William from Savannah, GA: “What do you know about investing in historic houses? I’d like to know your thoughts.”
• Shay from Seattle, WA: “What are some of the criteria you think about when choosing a remote market. I’m not having any success finding a deal here in Seattle.”
• Willy from Westchester PA: “I have two possible deals to buy. The better one is about a 30 minute drive further away. Which should I do?”
• Abby from Pittsburgh, PA: “We bought our first house. Our mortgage broker told us we made enough income to qualify for another house, such as a rental. The extra income seems like a great idea, but we heard your show and thought we would get your thoughts. If we were going to do this, what should we look for?”

FAR 064 Expected Air Date: 9/9/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming September 30 and October 1. Join my special guests:

• EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
• Jennifer Hammonds, Jennifer Hammonds show. Nationally acclaimed realtor and investor extraordinaire.
• Jay Conner. America's private money authority
• Bruce Mack. Founder of Platinum Finance
• Banks Brazell, ReBuild Co, a leading home builder and remodeler in the Southeastern US.
• Roger Herring, Founder of Investors' Accounting.
• Karen Anderson, Digital Marketing and List Consultant
• Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
• And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing primarily by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It's not just owning a business, it's owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that's not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That's right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. Trends: [email protected] Tell us where you're from! News:

• Blockchain Technology is in the news again. ATLANT Blockchain is a new company designed to make real estate investing accessible to everyone. Because of the open nature of the technology, pricing information, ownership information is available to all.
  • Tokenized ownership
  • Peer to Peer rentals.
• Implications:
  • The more all the information is available the more efficient the market becomes. It leads to a form of market stability, but also reduces opportunity.
    • Limited discounts
    • Limited opportunity for value-ad or forced appreciation.
  • Won't happen all at once - won't happen soon, and will probably always be one of the options - not the only method.
  • The advance of technology - takes away some opportunities - creates others.
• Demand for apartments easing off. The year over year absorption rate is down 8%. This means apartments are sitting for longer periods of time when completed. In another 6-8 months, rent rates are going to take a dip.
• Chinese Investments are pouring into London.
  • Contrary to "expert" predictions
  • Cheap Brexit Pound Sterling
  • Political unease at home
  • Safe Haven
  • Stability

Scams:

• Craigslist ad: i have a 2/1. You add a bedroom and bathroom and sell for 180. Repairs 45. Purchase 42. No address given. When contacted, the "seller" gave this spiel: Thanks so much for your interest in the property. We are an investment company that locates, drive around, negotiate, prepare reports and picture's and past the deals on to you. Our company charges a research/address release fee of $100.00. Now, If you are interested in the property the fee will be a credit to your closing cost. If you are not interested in the property it is a non-refund charge for our services. Also, If you have interest in purchasing the property it would be an Earnest Money of 2000.00 payable to the Title Company. Again, thanks so much for your interest. -Karen, Robinson Service LLC

Emails: [email protected] Tell us where you're from! Frederica from Long Beach, CA: Where do you see opportunities for residential investing today? Any area with solid job market and growing population base. Only invest in small towns if you live in that small town or have some other reason to be there from time to time.. Affordable homes - The way to wealth is to see and need and fill it. If you can build AFFORDABLE housing right now, you can make a fortune. There is a dearth of it. Anthony, Boulder, CO: I want to get into commercial investing but don't know how. I have $150,000 to put to this. REIT Crowd Funding DP on small office building. Jennifer from Providence, RI: Went to FlipStarterEvent.com. Looks like a great event at a great price. I just can't help but wonder if I couldn't somehow get all that information for free on the internet. Yes you can. Free info - no vetting. Could be wrong or misleading. No mentoring - No one to call on. So what do you need to know to really fix and flip houses?

• How to find deals
  • 10 sources
    • Foreclosure auction an entirely different set of risks and knowledge base.
  • Deal Marketing
    • Direct mail
    • Landing page
    • Answering the phone
    • Screening calls
    • Making offers
• How to know if it IS a deal
  • Diff between profit margin and profit
  • Diff between gross profit and net
  • Calculating profit
  • Estimating repairs
  • Determining ARV
• How to buy it.
  • Negotiating
    • Creating solutions
    • Maximizing profits
  • Structure
    • Purchase
      • Cash
      • Equity Partner?
      • Hard Money
      • Private money
    • Owner Finance
    • Installment contract
    • Lease Option
    • Lease Purchase
    • Subject-To
    • Wrap around
  • Financing
• How to flip it
  • Wholesale?
    • Assignable contract
    • Double closings
  • Fix it
    • Structural knowledge
      • The parts of a structure
      • Recognizing what needs to be repaired or replaced
      • Design decisions
        • Choosing colors
        • Styles
        • Accessories
    • Contractor vetting and approval
      • Where to find em
      • How to check them out
      • How to interview them
    • Contract law and development
    • Contractor Supervision
    • Payment process
      • Draw schedules
      • Lien waivers
  • Sell it
    • Marketing approach
    • Using a realtor
      • How to find
      • How to vet
      • How to interview
      • Whom to hire
      • Manage the relationship
    • Listing and pricing strategies
      • Gathering feedback
      • Managing objections
      • Price reduction strategy
      • Negotiating with buyers
      • Negotiating AFTER its under contract
  • Running Your Business
    • Setting up properly
    • Keeping proper records
    • Creating business systems
    • Tax strategies and planning
    • Protecting your assets
    • Proper Insurance for all assets
  • Managing tenants
    • Know the laws
    • Prepare for court!
    • Handling service requests
    • Leases!
      • What goes in them
      • What can't be in them
      • Who's on the lease?

That's the TIP. The iceberg is what is underneath all that. It's a lot. But what do you get in return?

• The real possibility of a six figure income in a couple of years.
• The opportunity to build lasting wealth to pass on to your children and grandchildren
• Freedom - work when you want, however long you want, quit when you want or when you can each day.
• The opportunity to live life on your own terms. Don't "make a living." LIVE. Do that "higher meaning" thing.

FAR 064 Expected Air Date: 9/9/17 Topics: Mark your calendar now and plan to attend “FlipStarter” is coming September 30 and October 1. Join my special guests:

• EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services.  He will be speaking about asset protection through Private Asset Trusts.
• Jennifer Hammonds, Jennifer Hammonds show. Nationally acclaimed realtor and investor extraordinaire.
• Jay Conner. America’s private money authority
• Bruce Mack. Founder of Platinum Finance
• Banks Brazell, ReBuild Co, a leading home builder and remodeler in the Southeastern US.
• Roger Herring, Founder of Investors’ Accounting.
• Karen Anderson, Digital Marketing and List Consultant
• Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
• And of course, me, the Flipping America guy, Roger Blankenship. I’ve made my career in real estate investing primarily by doing it rather than talking about it. I’ve flipped hundreds of houses and I’m going to show you how to do it. I have a few techniques no one else uses or teaches, but I’m going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It’s not just owning a business, it’s owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that’s not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That’s right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. Trends: [email protected] Tell us where you’re from! News:

• Blockchain Technology is in the news again. ATLANT Blockchain is a new company designed to make real estate investing accessible to everyone. Because of the open nature of the technology, pricing information, ownership information is available to all.
  • Tokenized ownership
  • Peer to Peer rentals.
• Implications:
  • The more all the information is available the more efficient the market becomes. It leads to a form of market stability, but also reduces opportunity.
    • Limited discounts
    • Limited opportunity for value-ad or forced appreciation.
  • Won’t happen all at once - won’t happen soon, and will probably always be one of the options - not the only method.
  • The advance of technology - takes away some opportunities - creates others.
• Demand for apartments easing off. The year over year absorption rate is down 8%. This means apartments are sitting for longer periods of time when completed. In another 6-8 months, rent rates are going to take a dip.
• Chinese Investments are pouring into London.
  • Contrary to “expert” predictions
  • Cheap Brexit Pound Sterling
  • Political unease at home
  • Safe Haven
  • Stability

Scams:

• Craigslist ad: i have a 2/1. You add a bedroom and bathroom and sell for 180. Repairs 45. Purchase 42. No address given. When contacted, the “seller” gave this spiel: Thanks so much for your interest in the property. We are an investment company that locates, drive around, negotiate, prepare reports and picture's and past the deals on to you.  Our company charges a research/address release fee of $100.00. Now, If you are interested in the property the fee will be a credit to your closing cost. If you are not interested in the property it is a non-refund charge for our services. Also, If you have interest in purchasing the property it would be an Earnest Money of 2000.00 payable to the Title Company.   Again, thanks so much for your interest. -Karen, Robinson Service LLC

Emails: [email protected] Tell us where you’re from! Frederica from Long Beach, CA: Where do you see opportunities for residential investing today? Any area with solid job market and growing population base. Only invest in small towns if you live in that small town or have some other reason to be there from time to time.. Affordable homes - The way to wealth is to see and need and fill it. If you can build AFFORDABLE housing right now, you can make a fortune. There is a dearth of it.   Anthony, Boulder, CO: I want to get into commercial investing but don’t know how. I have $150,000 to put to this. REIT Crowd Funding DP on small office building. Jennifer from Providence, RI: Went to FlipStarterEvent.com. Looks like a great event at a great price. I just can’t help but wonder if I couldn’t somehow get all that information for free on the internet. Yes you can. Free info - no vetting. Could be wrong or misleading. No mentoring - No one to call on. So what do you need to know to really fix and flip houses?

• How to find deals
  • 10 sources
    • Foreclosure auction an entirely different set of risks and knowledge base.
  • Deal Marketing
    • Direct mail
    • Landing page
    • Answering the phone
    • Screening calls
    • Making offers
• How to know if it IS a deal
  • Diff between profit margin and profit
  • Diff between gross profit and net
  • Calculating profit
  • Estimating repairs
  • Determining ARV
• How to buy it.
  • Negotiating
    • Creating solutions
    • Maximizing profits
  • Structure
    • Purchase
      • Cash
      • Equity Partner?
      • Hard Money
      • Private money
    • Owner Finance
    • Installment contract
    • Lease Option
    • Lease Purchase
    • Subject-To
    • Wrap around
  • Financing
• How to flip it
  • Wholesale?
    • Assignable contract
    • Double closings
  • Fix it
    • Structural knowledge
      • The parts of a structure
      • Recognizing what needs to be repaired or replaced
      • Design decisions
        • Choosing colors
        • Styles
        • Accessories
    • Contractor vetting and approval
      • Where to find em
      • How to check them out
      • How to interview them
    • Contract law and development
    • Contractor Supervision
    • Payment process
      • Draw schedules
      • Lien waivers
  • Sell it
    • Marketing approach
    • Using a realtor
      • How to find
      • How to vet
      • How to interview
      • Whom to hire
      • Manage the relationship
    • Listing and pricing strategies
      • Gathering feedback
      • Managing objections
      • Price reduction strategy
      • Negotiating with buyers
      • Negotiating AFTER its under contract
  • Running Your Business
    • Setting up properly
    • Keeping proper records
    • Creating business systems
    • Tax strategies and planning
    • Protecting your assets
    • Proper Insurance for all assets
  • Managing tenants
    • Know the laws
    • Prepare for court!
    • Handling service requests
    • Leases!
      • What goes in them
      • What can’t be in them
      • Who’s on the lease?

  That’s the TIP. The iceberg is what is underneath all that. It’s a lot. But what do you get in return?

• The real possibility of a six figure income in a couple of years.
• The opportunity to build lasting wealth to pass on to your children and grandchildren
• Freedom - work when you want, however long you want, quit when you want or when you can each day.
• The opportunity to live life on your own terms. Don’t “make a living.” LIVE. Do that “higher meaning” thing.

FAR 065 Expected Air Date: 9/14/17 Topics: Mark your calendar now and plan to attend "FlipStarter" is coming September 30 and October 1. Join my special guests:

• EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services. He will be speaking about asset protection through Private Asset Trusts.
• Jennifer Hammonds, Jennifer Hammonds show. Nationally acclaimed realtor and investor extraordinaire.
• Jay Conner. America's private money authority
• Bruce Mack. Founder of Platinum Finance
• Banks Brazell, ReBuild Co, a leading home builder and remodeler in the Southeastern US.
• Roger Herring, Founder of Investors' Accounting.
• Karen Anderson, Digital Marketing and List Consultant
• Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
• And of course, me, the Flipping America guy, Roger Blankenship. I've made my career in real estate investing primarily by doing it rather than talking about it. I've flipped hundreds of houses and I'm going to show you how to do it. I have a few techniques no one else uses or teaches, but I'm going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It's not just owning a business, it's owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that's not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That's right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com. TV Flipping Show MYTHS. And we will bust them, with a little help from my friends. Correlations between Commercial and Residential RE Development Re-Investment New Stores... News: Commercial RE heading toward a correction Declines in NYC commercial investment project to a 2017 with numbers very similar to 2008. Prices have peaked in Commercial. Residential will follow. 8-12 months prices will peak, back up slightly, then proceed at a pace corresponding to inflation. Interest rates will go up in 2018. If you're going to buy a residence, the best time was 2010. The next best time is today. When the market corrects it may be 5-8% above current levels and it may be only a 3% correction on the whole. Emails: [email protected] Tell us where you're from!

• Steve, Macon GA: Roger can we get you to come to our Investors Club here in Macon? We are only 90 miles away.
• Reggie, Chattanooga, TN: Chattanooga is a small city, but an interesting place to live. How are the investing decisions different in a small city from a large city?
  • All Real Estate is local,
  • Local Codes, Rules, or Laws
  • Local knowledge of neighborhoods, shifts, renewal, gentrification, etc.
  • Principles are generally true everywhere. Be all in at no more than 70% of ARV.
  • Perhaps more opportunity to visit properties?
  • May have to be open to a broader spectrum of possibilities.
• Brian, Wilmington, DE. I heard about the show from a friend of a friend. Listening to you on iHeart radio. Because of some new legislation, we are expecting to see an influx of professional jobs - lawyers actually - and I'm thinking about investing in some Executive - type rentals - higher end. Do you have any experience with that?
  • It's short term
  • Higher quality of tenant, usually
  • Typically less damage to a larger home.
  • Quick turnovers.
  • Buy it with flip margins in mind
  • Consider an airBnB strategy.
• Gerald, Milwaukee WI. It seems like I don't want to be trying to sell a house over the holidays, I don't want to shut down my business, but I also don't want to pay interest on inventory just sitting there through the winter. What are your thoughts?
  • Sell all year long, just know the cycle. Lowest months are January and February
  • Holiday staging!

FAR 065 Expected Air Date: 9/14/17 Topics: Mark your calendar now and plan to attend “FlipStarter” is coming September 30 and October 1. Join my special guests:

• EJ Lashlee, author of the True Trust Book, The Protection Book, and founder of True Trust Services.  He will be speaking about asset protection through Private Asset Trusts.
• Jennifer Hammonds, Jennifer Hammonds show. Nationally acclaimed realtor and investor extraordinaire.
• Jay Conner. America’s private money authority
• Bruce Mack. Founder of Platinum Finance
• Banks Brazell, ReBuild Co, a leading home builder and remodeler in the Southeastern US.
• Roger Herring, Founder of Investors’ Accounting.
• Karen Anderson, Digital Marketing and List Consultant
• Mike Ventry, Advanta IRA, How to use your self-directed IRA to create potentially tax-free income.
• And of course, me, the Flipping America guy, Roger Blankenship. I’ve made my career in real estate investing primarily by doing it rather than talking about it. I’ve flipped hundreds of houses and I’m going to show you how to do it. I have a few techniques no one else uses or teaches, but I’m going to share them with you. Why?

Because we are going to tell you how to get started Flipping Houses and building wealth. It’s not just owning a business, it’s owning a wealth generation machine that will not only provide for you, but be a blessing to your children and grandchildren. And that’s not all, when you purchase your ticket for only $97 for this two day event, my good friend Jay Conner is going to invite you to HIS event in October at no additional charge. That’s right, two multi-day real estate training events for one low price. Sign up now at FlipStarterEvent.com.   TV Flipping Show MYTHS. And we will bust them, with a little help from my friends. Correlations between Commercial and Residential RE Development Re-Investment New Stores... News: Commercial RE heading toward a correction Declines in NYC commercial investment project to a 2017 with numbers very similar to 2008. Prices have peaked in Commercial. Residential will follow. 8-12 months prices will peak, back up slightly, then proceed at a pace corresponding to inflation. Interest rates will go up in 2018.   If you’re going to buy a residence, the best time was 2010. The next best time is today. When the market corrects it may be 5-8% above current levels and it may be only a 3% correction on the whole. Emails: [email protected] Tell us where you’re from!

• Steve, Macon GA: Roger can we get you to come to our Investors Club here in Macon? We are only 90 miles away.
• Reggie, Chattanooga, TN: Chattanooga is a small city, but an interesting place to live. How are the investing decisions different in a small city from a large city?
  • All Real Estate is local,
  • Local Codes, Rules, or Laws
  • Local knowledge of neighborhoods, shifts, renewal, gentrification, etc.
  • Principles are generally true everywhere. Be all in at no more than 70% of ARV.
  • Perhaps more opportunity to visit properties?
  • May have to be open to a broader spectrum of possibilities.
• Brian, Wilmington, DE. I heard about the show from a friend of a friend. Listening to you on iHeart radio. Because of some new legislation, we are expecting to see an influx of professional jobs - lawyers actually - and I’m thinking about investing in some Executive - type rentals - higher end. Do you have any experience with that?
  • It’s short term
  • Higher quality of tenant, usually
  • Typically less damage to a larger home.
  • Quick turnovers.
  • Buy it with flip margins in mind
  • Consider an airBnB strategy.
• Gerald, Milwaukee WI. It seems like I don’t want to be trying to sell a house over the holidays, I don’t want to shut down my business, but I also don’t want to pay interest on inventory just sitting there through the winter. What are your thoughts?
  • Sell all year long, just know the cycle. Lowest months are January and February
  • Holiday staging!

FAR 066 Expected Air Date: 9/16/17 News: Equifax Data Breach!! Charlie Fowler coming up. Story on CNBC yesterday. REIT earnings are down for companies invested in retail space. Interview Guest: Charlie Fowler

FAR 066 Expected Air Date: 9/16/17 News: Equifax Data Breach!! Charlie Fowler coming up. Story on CNBC yesterday. REIT earnings are down for companies invested in retail space. Interview Guest: Charlie Fowler

FAR 067 Expected Air Date: 9/17/17 News:

• Partners REIT announces distribution of $0.02083 per unit. 2 cents per unit. So my 1000 units would make me $20! There are 45,731,683 Units outstanding. Thus the payout is $952,591.
• Billboard for Offerpad. We will buy your home. Sounds great. Another version of "if I can't sell your home I'll buy it for cash." Offers appear to be 12% below current value, when all fees are factored in.
• Article CNBC. Flipping on the decline as prices increase. 5.6% 2nd quarter, 6.9% 1st quarter.
  • According to NAR, 5M existing homes sold in the US in 2016.
  • 300,000 sold by investors or house flippers. (6%)
  • Avg price, 240,000.
  • RE Investors sold $72B in 2016. Not a trifling amount.

Scams:

• Corey, from West Allis, WI "When is it OK to give my contractor money up front. All of the contractors I speak with want half the money before they will begin the work. What should I be doing to protect myself?"
• Scam is where someone gets your money for nothing (or very little effort).
  • Pre-payment for loan
  • Pre-payment for remodeling

Emails: [email protected] Tell us where you're from! Freddie, from Cleveland, GA: I'm looking at buying a manufactured home as a rental. It's only $3,000 and I can get $350/month for it. It's in rentable condition now and it's on a lot that comes with the purchase price. What else should I be considering?

• I'll take it!
• What's the value of the land?
• Consider selling under an installment land contract.

Damon, from Akron, OH: "What is the most I should pay for my first flip?" Andy, from Snellville, GA: "I cracked up when I heard your answer to the lady from Rhode Island asking if she could get all the information about flipping houses for free on the internet. Would you spend a little more time going over all those topics again? It sounds pretty complex."