In this episode, Jonathan Farber interviews Elliot Smith on his road from working over 100 hours a week between his day job and real estate to rapidly expanding his real estate portfolio while traveling the world. Elliot is a flipper, wholesaler, and real estate educator based in the Pacific Northwest. In this episode, we dig into topics like: starting strong in real estate, finding leads on your own, building a sturdy flipping operation, and more!
Taking effective first steps in real estate - 9:00 - 10:45
Your best bet for getting started is putting in the work to make sure you want it
Use DealMachine or the Driving for Dollars app and get CallRail or Google Voice
Get a couple thousand leads and start calling - and get used to it
Identifying leads while driving for dollars - 11:30 - 14:00
Print out a map or use an app to go down every street in a neighborhood
Things to look for: overgrown grass, broken windows (including wooden or metal), chipping paint
A radio antenna on the roof is a subtle indicator the occupant may be ready to sell
Using flipping to create steady income - 36:45 - 37:30
The key to sustainable flipping is picking a project type and sticking with it
For example, entry level and step up homes are doable around $30-60k depending on market
These can include kitchens, bathrooms, roof, windows, paint, carpet, and flooring
How to bring value to Elliot Smith:
Check out his lead gen business and bring potential deals
The Driving For Dollars App on the App Store
DealMachine | Real Estate Investor & Wholesaling Software
CallRail: Call Tracking & Marketing Analytics Software
Book by John Scott-Waring: The Book on Estimating Rehab Costs
biggerpockets.com/users/elsmith739
Connect With The host, Jonathan Farber Here!
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Facebook Group: Real Estate Mentorship Mastermind
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Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr
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