7 Figure Flipping

Listen to This EpisodeFor the past couple months, up until about two weeks ago, we’ve been buying about a house a day.  Recently, we’ve made some changes and eased up a bit, so that we're now buying less houses than before.  In today’s episode, I explain why.And no, it’s not because the market is falling apart or something like that.  The market is a factor, but it’s actually very good right now where I’m buying, so there's a lot more to it than that.  Thanks for listening!Episode 82: Show NotesFirst, a few things that have been on my mind this past week.I just got back from an awesome marketing conference.  Marketing is so incredibly powerful and important, and most of us in the real estate investing world, myself included, honestly suck at it!My mindset on education has changed so much over the past 6 months or so.  I’m spending $20k per year on education for myself already, and I just signed up for another $25k per year group.Good education is by far the highest ROI you can get on your investment.  And you can get an ROI while you’re learning.The main point in today’s episode is why I’ve decided to buy fewer houses.  There are three reasons.Focusing on strengthening our financial foundation.Risk mitigation, both for myself and for my investors.Preparing for the market slowdown that will happen when we hit the colder months of the year.Right now the market is doing very well, interest are low, things are great, but I want to make sure I’m prepared for the seasonal slowdown in the second half of the year.We have so many houses in process right now that I’ve focused my team’s efforts more on project management than acquisitions.I'm very, very excited for what the future holds, now that I've seen firsthand that we can handle this kind of volume!Links and ResourcesWe’ve officially re-opened the doors to the House Flipping Formula coaching program.  Get the details and sign up at HouseFlippingFormula.com!The recording of the House Flipping Systems Seminar is still available!  It’s not going to be up for much longer, so hurry!  Get it here.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 82: Why I’ve Decided to Buy Less Houses appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeIn the past week, I’ve fired three people, in three different ways and for three completely different reasons.  In today’s episode, I share the lessons learned!One of the “firings” was more like a “mutual breakup,” where it turned out he was actually planning to quit and already had a new job lined up right as I decided to let him go.  One of them was a new member of the team who, just a couple weeks into the job, started demanding things we hadn’t agreed to.  And the third was a true firing—where I was just completely done dealing with this person’s garbage, I called them out on it, and we immediately parted ways.I hope getting a glimpse into what happened in each case and my rationale for ending these relationships will help you as you’re hiring and managing your own team!House Flipping Formula: Registration Is Now Open!We’ve just recently re-opened registration for the House Flipping Formula Coaching Program!  If you’ve been waiting to join, now is your chance!The program includes membership in the House Flipping Mastermind Group, plus monthly coaching calls, tons of training videos, resources, and more.  To learn about the program and sign up, head to HouseFlippingFormula.com!Episode 81: Show NotesThere are three kinds of “breakups,” and I got to experience all three this week.The Quick-and-Dirty Break UpThe Mutual Break UpThe “I've Drug This Out For Way Too Long and I’m No Longer Buying Your Garbage” Break UpWhen you hire someone part time, and it’s an easy job, it’s not that big a deal if it doesn’t work out.Compensate people for what they’re worth.  Give them raises over time.  But get them to agree to all of this in advance, so you’re not dealing with unexpected demands later.Keep in mind when you hire someone you already know or someone who’s family, it can be hard to fire them if you need to.If someone just isn’t passionate about their position or they don’t seem fully invested, that can be a sign that it’s not going to work out long term.  Have the “break up” sooner rather than later.In general, you should absolutely try to have conversations before you have conflicts.Ask questions.  Dig deeper.  Make sure you find out what’s really going on.Don’t buy people’s garbage.  People will feed you garbage all the time, and sometimes it’s very believable.  But you’ve got to trust your gut.Links and ResourcesWe’ve officially re-opened the doors to the House Flipping Formula coaching program.  Get the details and sign up at HouseFlippingFormula.com!The recording of the House Flipping Systems Seminar is still available!  It’s not going to be up for much longer, so hurry!  Get it here.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 81: How I Fired 3 People in 1 Week appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeIt was really awesome getting to meet so many members of the House Flipping HQ family at the seminar a week ago!  If you weren’t able to make it, I hope you’ve had a chance to pick up the recording.  If not, you can get it here.One of the things I talked about at the seminar is the importance of your community and who you surround yourself with.  This is one of the top two or three biggest factors that will determine whether you succeed or fail in this business.In today’s episode, I share with you how to start your own mastermind group, as well as a few things to watch out for if you’re joining one run by someone else.  I’m not exaggerating when I say that 50% of your time and effort should be spent building your community—creating and strengthening relationships with the people who can help you succeed.  A mastermind group is one of the best ways to do this.House Flipping Formula: Registration Is Now Open!We’ve just officially re-opened registration for the House Flipping Formula Coaching Program!  If you’ve been waiting to join, now is your chance!The program includes membership in the House Flipping Mastermind Group, plus monthly coaching calls, tons of training videos, resources, and more.  To learn about the program and sign up, head to HouseFlippingFormula.com!Episode 80: Show NotesA quick recap of how my team is doing buying houses.  I thought we were finally going to have a slow week, but I ended up being very wrong!Often when you want to add something, you have to take something away—we need to focus more on project management now, and we have so many houses in the pipeline that we’ve stopped a lot of our marketing.Find the people who are doing deals and having success, and model what they’re doing.You can’t be the machine; you have to build the machine.  You need to work on your business, not just in your business.  Build the system, build your team, and build your community.The best way to be successful in anything, or any business, is to surround yourself with people who have the same focus and goals as you, and who have been there before.  A mastermind group or community can literally change your business and your life.Day to day action and feedback is more important than going to seminars and other events.Links and ResourcesI’ve mentioned this before, but I highly recommend the book Exponential Organizations.If you’re starting a mastermind group, use Zoom or Google Hangouts for running meetings!The house flipping formula coaching program is now officially open for signups!  Head over to HouseFlippingFormula.com to learn more.Also, if you haven’t gotten a copy of the House Flipping Systems Seminar recording yet, you still can.  Get it here.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 80: Why You Need to Start or Join a Mastermind Group appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeMy team and I just wrapped up our spring Mastermind Meeting and the House Flipping Systems Seminar this past weekend, and we had a blast at both events!  Thank you everyone who attended.  You rock!Today’s episode is a bit different.  I’ve spent most of this week in San Diego meeting with my own mastermind group, and since I wanted to get this episode out to everyone as soon as possible, I asked my tech guy Kyle to record it for me and get it set up!For this episode, we’ve grabbed a few highlights from the House Flipping Systems seminar for you to listen in on.  Enjoy!  Oh, and if you like what you hear, you can get the full seminar recording here!  Thanks for listening!Episode 79: Show NotesThe importance of knowing your “why.”How to systematize acquisitions, buying, financing, and more.In order to systematize, you absolutely have to know your criteria, and it needs to be consistent.Focus on getting houses under contract, and dive deep into analysis once you have a house under contract and you’re ready to buy—not before.You’re only going to run the risk of losing money when you buy a house, or if you put down a large deposit and let your contingencies run out.  But until then, you have nothing to worry about.Your goal should be to “fill the funnel” with as many offers as possible, and then focus on the ones that you get under contract.  Don’t be reckless, but don’t hold back out of fear.Don’t be a control freak.  Don’t assume you can do things better than everyone else.If you put one person in charge of a part of your business, they’ll probably end up doing it much better than you ever could have, because they’re able to focus on just that one thing.How to streamline payments to private money lenders and get the most out of their funds.Links and ResourcesTo get access to the full recording of the seminar (6+ hours of footage), click here!Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 79: House Flipping Systems Seminar Recording appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeToday’s episode is short and simple!  I cover a bunch of things that are on my mind right now, from calculating accurate ARVs to cultivating a mindset where you WANT to succeed more than anything.  Enjoy!Episode 78: Show NotesFocus on the best opportunities. Say no to anything that isn’t the highest and best use of your time, including houses that don’t meet the criteria you’re looking for.A lot of people tell me they can’t find a deal.  Don’t say that.  You CAN find deals!You need to know what you’re doing.  You need to know deal analysis extremely well.  You need to know the criteria you’re looking for.There really is no “conservative” ARV.  If you’re not dead on, someone else is going to get that property.Just changing one small thing can take you from buying zero properties to buying several properties per month.  What is that thing for you?The “gold or lead” story.  How badly do you really want to succeed in this business?Links and ResourcesA book I'm reading now, which I highly recommend, is Exponential Organizations.There are still spots available for the House Flipping Systems Seminar on May 9th, but they're going fast!  Last time, we sold out during the final week of signups.  Hurry and get your spot!  To learn more and register, click here.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 78: Gold or Lead: What It Takes to Succeed appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeToday, I have something special and kind of crazy to share with you.  Every week, I hold a meeting with some or all of my house flipping team.  We go over everything we’re working on—acquisitions, marketing, rehab projects, and so on.  These meetings are recorded so we can go back and listen again if we need to.In today’s episode, you’ll get to listen in on last week’s meeting.  It doesn’t get any more raw or real than this!  You’ll get to be a “fly on the wall” as my team and I dig into what we’re working on for the week.Why am I doing this?  Why am I replaying this recording on the podcast?  There are a few reasons.I want you to show you what the “day-to-day” is like for me and for my team.I want you to see how we communicate.  I’m very direct and honest with my team!Most importantly, I want you to see that we don’t have it all figured out!  We’re still learning, growing, and changing things up, working constantly to improve our systems.This business is never easy.  We always have something we’re trying to fix, solve, or get better at.  Today, I want to give you an inside look at what goes on behind the scenes at my company.  Enjoy!Episode 77: Show NotesToday's episode is simply a pure, authentic dive into what my team and I are up to!  From solving contractor issues to figuring out how to better streamline the escrow process, we just lay it all out.  This episode isn't packed full of “house flipping secrets” or “tips for success.”  Instead, it's an honest look at what we actually do every day.Links and ResourcesThe meeting software we use to run and record our meetings is called Zoom, and it's great.There are still spots available for the House Flipping Systems Seminar!  I really hope you can make it.  My team and I talk a lot about improving our system in this meeting, and we're going to be breaking down our system entirely for you at the seminar.  Don't miss it!  To learn more and sign up, click here.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 77: Listen In On A Meeting With My House Flipping Team appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeIn this episode, I outline the steps involved in creating a 7-figure income through house flipping. This “road map” covers each of the major aspects of my own house flipping journey—from education to implementation to systematizing and scaling my business.  Yes, there's a ton of info packed into this episode, so get ready!If you've ever wanted a breakdown of what it takes to get from just starting out as a house flipper to 7-figures of net income per year, this episode is for you.  Success isn't just about the steps you take; a lot of it has to do with mindset, too, and learning how to value your time and manage it effectively.  I get into that as well.My goal here is to show you what's involved in growing and operating a 7-figure net income house flipping business.  If you have any questions, I would love to hear them!  Head down to the comments section below this post and let's talk!Episode 76: Show NotesWhat’s covered in today’s podcast?  Here are a few main points.The 7 steps to a 7-figure house flipping income—I dive into each one and tell you what’s involved.Finding a niche and focusing your efforts makes this business much, much easier and more profitable.The importance of leveraging others through partnerships and by hiring assistants.How to train, manage, and empower assistants and team members. Constant constructive criticism is absolutely essential.The importance of creating systems and processes to handle every part of your business.And a whole lot more!Links and ResourcesMuch of the content for this episode is from a talk I've been giving at the Invest Club for Women in Orange County, CA.  You can learn more about this awesome real estate investing group at their website.  Oh, and it's not just for women; men are welcome to attend!This podcast will prep you for our upcoming House Flipping Systems Seminar, which I talk about toward the end of the episode.  This is happening on May 9 in Orange County, CA, and I would love to see you there.  At the seminar, I'll be diving into the specifics of how to set up the systems I talk about in today's episode, plus you'll also get to see how Andy runs his fully-systematized wholesaling business.  To learn more and sign up, click here!Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 76: Road Map to a 7-Figure House Flipping Income appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeIn today’s episode, I interview my father-in-law Tom Wood, who gave up a steady salary and retirement benefits as a school teacher to pursue house flipping.  Less than 10 months later, he is absolutely crushing it, averaging several deals per week, and has blown past his income goals!The tips and tricks he uses to keep himself focused and motivated are just brilliant, and witnessing his transformation has been nothing short of inspiring.  If he can do it, you can do it!  And… what's with the marshmallow he's holding in the photo above?  Listen and find out!Episode 75: Show NotesWhat’s covered in today’s podcast?  Here are a few main points.It wasn't easy for Tom to make this jump.  In fact, it was downright painful at times.  He had to do a lot of things he wasn't comfortable with at first, and many people around him felt he was making a big mistake leaving his career behind.He had to learn to manage his time, stay focused, and keep himself motivated despite setbacks, angry callers, and no deals for several months.Tom came up with a number of unique ways to keep himself focused and motivated as he powered through each day.Tom talks about how he would set goals for himself and work all week until late on Saturday night to reach those goals, and how his persistence paid off.It takes time to get things rolling in this business, but if you stick with it, the deals will start to flow in!Links and ResourcesTom mentions the book The 4 Disciplines of Execution by Chris McChesney and Sean Covey.  Check it out!Our upcoming seminar on House Flipping Systems now has an official location!  Plus, you can still sign up at the deeply discounted rate of just $297, which is $200 off from the full price.  But this won't last long; the price is going up soon.  Click here to learn more.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 75: Interview with Tom Wood: From School Teacher to House Flipper in 10 Months appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeToday’s episode is a bit different. I want to talk to you about your “why.” Why flip houses? Why seek financial freedom? What's the real purpose behind your drive for success in this business?The answer will be different for everyone, but for me and my wife, helping others is what really motivates and inspires us.  When I started in this business, my main goal was to provide for my family, and I'm blessed to have reached a point where our financial needs are met.  Yet ever since the beginning, my wife and I have wanted to get to a point where we can go beyond that and make a positive impact in the lives of others, to whatever extent we can.In this episode of the House Flipping HQ podcast, I interview Dutch Turley, a former Navy SEAL who works with a non-profit called Operation Underground Railroad to rescue children who are victims of human trafficking and exploitation.  I know Dutch personally.  We attend the same church, we're part of the same community, and I can honestly say that he is a true hero.  He's on the frontlines of a battle that many of us don't even know is being fought.  Right now, there are millions of children all over the world who are trapped in slavery, and it takes organizations like Operation Underground Railroad to intervene, rescue, and rehabilitate these kids, giving them a fresh start and the opportunity to live a healthy, normal life.Listen to this episode.  Much of what Dutch Turley has to say is heartbreaking, and I know this is a sensitive subject.  But the work this organization is doing is extremely important.Dutch Turley and the other members of the O.U.R. team are putting themselves in harm's way to free children from slavery by organizing sting missions in human trafficking hotspots around the world, bringing in local law enforcement agents to arrest the traffickers and collaborating with local NGOs to provide rehabilitation and a safe place for the children they save.  It's incredible.I've pledged to help support the work they're doing in whatever way I can, and I'd like you to join me in this.It costs about $60,000 to fund one of these rescue missions.  My goal is to raise $60,000 for O.U.R. by the end of this year.We're going to accomplish this in two ways.From one of the next houses we flip, we're going to donate all of the profit to this cause.  I haven't picked the house yet; I want to make sure it's a really good one with a lot of upside.  We'll document the process, including the purchase and rehab, and keep you updated as we complete the project.In addition, my company and I will match any contributions made by listeners like you.  If you feel that this podcast has helped you in any way, or if you're inspired or moved to join this fight, donate through the Flip for Freedom drive, which is a campaign we've set up with Operation Underground Railroad.  Whether it's $5 or $20 or any amount, I encourage you to take action and do this.  Again, we will be matching all funds donated through Flip for Freedom, so the impact of whatever amount you contribute will be doubled.  Click here to donate.At the end of the day, your “why” is important.  Success and financial freedom are great goals, and I want to encourage you to continue pushing your business forward; don't lose focus on that.  Increased success will allow you to make an even bigger impact.  But as you grow your business, don't forget about the “why.”  What can you do to improve the lives of others and give back to your community and the world?Episode 74: Show NotesWhat’s covered in today’s podcast?  Here are a few main points.On the house flipping side, we're continuing to buy houses like crazy.  We've averaged about a house a day over the past 6 weeks or so, which is absolutely unprecedented for us.Dutch Turley, a former Navy SEAL and now VP of Rescue Operations for Operation Underground Railroad, outlines the work they do to save children who are being trafficked as sex slaves.  It's not easy to listen to or talk about, but this is a global crisis and O.U.R. is on the frontlines finding and freeing these children.My company and I are going to be helping to support O.U.R. financially moving forward, starting by raising $60,000 this year to fund a rescue mission.Links and ResourcesThe number one thing I want you to take away from today's episode is a renewed awareness of the horror and pervasiveness of child slavery, as well as the knowledge that you can help Dutch Turley and the Operation Underground Railroad team in the important work they're doing.  Learn more about O.U.R. at OURRescue.org, and donate to our matched fundraising campaign by clicking here.Like what you hear? Subscribe!If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while your'e at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them! The post HFHQ 74: Making a Difference: Interview with Dutch Turley of Operation Underground Railroad appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Today I interview Mark Podolsky, the “Land Geek,” who gives us the rundown on making passive money through investing in raw land!  This is something a bit different than what I usually feature on this podcast; like I always say, there are a million ways to make a million dollars, and this is another one!  However, don't let this distract you from your focus, whether that's wholesaling or house flipping or whatever it may be.Have any questions? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes.  And while you’re there, why not leave us a review and five-star rating?Show NotesWhat’s covered in today’s podcast?  Here are a few main points.The Biggest Flipping Failure Challenge began this week for members of the House Flipping Formula Coaching and Implementation Program, and it's off to a great start!  I'm super excited to see the action that everyone takes and the progress made.Tons of great info from land investing expert Mark Podolsky. Honestly, this is something unique that we haven't really covered before on this podcast, and I don't know much about it myself, so it was a great learning experience for me!Links and ResourcesCheck out Mark Podolsky's podcast, his passive income blueprint, and tons of other resources at TheLandGeek.com!Don't forget to sign up for my upcoming seminar, which is all about building a systematized house flipping business.  Click here!Like what you hear?If you've found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff.  Click here to leave a review and rating! If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them.The post HFHQ 73: Interview with Mark Podolsky: All About Land Investing appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.