7 Figure Flipping

Mike Simmons, from Just Start Real Estate, joins us and helps us understand the best way (or at least his best way) to get started as a new real estate investor and house flipper.  He really breaks it down and provides step-by-step processes you can follow to get started today!Have any questions for Mike or I? 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 NotesIn this episode we cover:Mike's background with real estate starting in 2002 and why it took him 6 years to take action.The things you need to do when you first start with real estate.  (Take MASSIVE ACTION)Commit the time to getting out there and start networking at REIAsTips to be a good networkerDress nicely when you attend eventsSmile and be presentableTake action!  It will make it easier to talk to people and have them talk to youBe mindful of who you tell — keep away from the negative influencesIf you do tell people, you don't need to listen to their opinionGive yourself time to get to know peopleBe uncomfortable! It means you are going in the right direction.Find an agent to help you start generating leadsIts not necessary to get your real estate licenseInterview realtors and find out what they are able to do for you.They should send you qualified leads that you care about.You have to give them good, specific information about what you're looking forMike's method for getting in touch with realtorsWent on realtor.com and looked for properties that fit the criteriaFind the realtors that show up on the type of houses that you are looking forInterview the realtors until you find the best fitTreat your realtor with respectYou don't need to get in to detail about your business — just about what you're looking forMake a short list of good contractorsOne method: put an ad on Craigslist (with criteria) and provide a “new” emailWalk through a property with them together and get quotes based on what you want to doYou learn about rehabbing from contractorsThe bids will give you an idea of the cost for rehabbing housesMake offers based on the listings your realtor has been sending you (which meet your criteria)You need to educate your realtor on calculating After Repair Value (ARV)Go in to the listings for comparables and see what the houses look likeOne possible formula: ARV * 0.7 – rehab = OfferThere are a lot of methods for finding a proof of funds (POF)Get your financing taken care ofThis is where you take advantage of those networks you have been buildingBefore you have a house under contract, be sure you have been seeking out financing possibilitiesOnce the house is under contract finding financing should be your full time jobFocus on direct mail when you have made some progress with your businessThings you don't need to do Day 1You don't need to start off forming a corporation in the beginningBusiness cards are not a priorityLogo and brandingMaking t-shirts with your company nameDesigning a websiteTweetable QuotesClick a quote to tweet it!“The name of the game when you're starting out is MASSIVE ACTION.” ~ Mike Simmons“You're better off going 100 mph in the wrong direction than just sitting still doing nothing.” ~ Mike Simmons“People are attracted to action takers.” ~ Mike Simmons“If you are not putting yourself in uncomfortable situations, you are just not trying.” ~ Mike Simmons“Getting your realtor's license doesn't necessarily make you an expert in a lot of areas.” ~ Mike Simmons“Don't have a list of to do items that aren't going to make you money in this business.” ~ Justin Williams“The more detailed you are about the types of houses you want to buy, the less detailed you need to be in what you're going to do with the listings.” ~ Mike Simmons“There are a hundred ways to get started in this business.” ~ Mike Simmons“You can't wait until you have a deal under contract to figure everything out.” ~ Mike Simmons“This game isn't for the real greedy.  You need to be willing to share the wealth” ~ Mike Simmons“This is a team sport.” ~ Justin Williams“In this business there are a lot of singles, and very few home runs.” ~ Mike Simmons“Always be looking for capital” ~ Justin Williams“Its a great business, but there are a lot of ways you can screw it up.” ~ Mike SimmonsTranscriptClick here to Read and Download the Transcript for Episode 32Links and ResourcesJust Start Real Estate website (http://www.juststartrealestate.com)JSRE Podcast (http://www.juststartrealestate.com/itunes)E-mail Mike Simmons at: mike@juststartrealestate.comRealtor.comHow to work with contractors (HFHQ Article by Mike Simmons)Working With Private Money Lenders to Get Your House Flipping Deals Funded!Join the next webinar!Our next house flipping webinar will be Thursday, March 27, 2014 at 12 noon (Pacific) / 3PM (Eastern). Click on this link below to sign up!Learn how Justin runs his house flipping business, how to connect with other budding house flippers, and ask Justin ANY questions you have about real estate investing and house flipping!houseflippinghq.com/webinar.Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Song Lyricsby Mark Moran, Sung to the tune of Beautiful by Christina AguilleraEveryday you make offersAnd suddenly, an ARVMLS seems foreverIt never goes the way you feelThis is flipping and every single dayProperties go awayFrustration but if you don't give upYou will make a buckAnd then you'll find a turn of luckNo matter where you steerNo matter what you hearA deals around the corner you just have to persevereNo matter what you findThere is no peace of mindWhen you get a contact to sign that contract and everything is fineThis is flipping and every single dayProperties go awayfrustration but if you don't give upYou will make a buckAnd then you'll find a turn of luckListen close to this podcastLearn a lot.  All you got.Read the blog and make some contactsIt's up to you.  HFHQ The post HFHQ 32: How to Get Started in Real Estate with Mike Simmons appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Tim Gordon, a “sophomore” investor has taken incredible action and shares with us how he got his first deal and the struggles he had.  We talk about benchmarks, success and closing deals.  Plus we get in to some details about financing and rehabbing and much more!Have any questions for Tim or I? 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?The next webinar is tonight!Tonight (March 6, 2014) we will have another House Flipping Webinar at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!This time I'll be focusing heavily on acquisitions!houseflippinghq.com/webinar.And the winner is ….The winner of the Michael Quarles 1,000 yellow letters give-away is Ed!  Just e-mail Michael at michael@yellowletters.com to let him know you were the one who won (we have your email on file, so this is how we confirm your identity).For the rest of you who entered, you can also email michael@yellowletters.com with the subject line “HFHQ Biz Cards” with your complete name and mailing address and he'll get you the business cards that he mentioned in the podcast episode.  We'll be checking your name against the entries so be sure you actually entered the contest if you send an email! Show NotesIn this episode we cover:Tim's introduction to the potential of real estate investingHis first experiences with a real estate investment clubs and learning to flip through a 60-day challenge “boot-camp”The specific things Tim did to take action during his 60-day intensive challengeLearn how to comp properties and connect with agentsRequired you to make over 50 phone calls a week (FSBO, Craigslist, etc.)Trains you to handle rejectionUse of Proof of Funds to make offersRequired you to make at least 10 offers per weekForces you to make more offers than a normal professional investor makes in a typical yearThe find whatever you are the most uncomfortable and make sure you learn how to do it.Different methods he used to connect with sellers and dealsMore traditional methods like using the MLS or talking to agentsLess traditional methods like going on Craigslist or finding FSBO signsTim's experience with the Flip to Freedom event for wholesalersHow Tim found his first deal by looking at rental ads on CraigslistTim's use of $1,250 from his first deal on mailers during ThanksgivingThe story of Tim's second deal which forced him to listen and solve problemsHow Tim developed his business during 2013Use of Zoho as a CRM (Customer Relationship Management) systemTim's current marketing strategiesIn the beginning of 2013 Tim was using strictly direct mailLater 40% of deals were through direct mail, 35% were through other wholesalers and 25% were through the MLS.His current focus is on absentee owners although he's done owner-occupants, but hasn't pulled deals yetUsing SEO and the web to generate leadsTim's next step to build his business by bringing on people to help him automate his systemsTim's unique approach to financing through an FHA 203K Loan3.5% down paymentRequires occupancy in one unit for at least a year203K means the property requires repairs which are amortized over 30 yearsFrom single-family to a four-unit propertyHow Tim's full time job gives him access to great financingTweetable QuotesClick a quote to tweet it!“What gets measured gets done” ~ Justin Williams“I don't need to reinvent the wheel.  I just need to do consistent marketing on a monthly basis, no matter what the results are.” ~ Tim Gordon“I need to have systems in place to track and monitor my leads” ~ Tim Gordon“You have to invest to get the results” ~ Tim Gordon“You've got to get your hands dirty” ~ Justin Williams“Everything I was doing when I didn't have deals was preparing me for when I did” ~ Tim Gordon“Once you label yourself as a problem solver, you aren't surprised when problems come up” ~ Justin Williams“Reverse engineer the deal to find out who it's best for, and then go find them.” ~ Tim Gordon“Once you add value, you get paid” ~ Tim GordonTranscriptClick here to Read and Download the Transcript for Episode 31Links and ResourcesBigger PocketsBill Tan's San Diego Creative Investor's AssociationInvestClub for WomenFlip2Freedom with Sean TerryZoho.comDanny Fitzpatrick with Wells Fargo in San DiegoTim's Email: tim@gordonbuyshomes.comFacebook (facebook.com/timgordon)Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution:The post HFHQ 31: Tim Gordon the Action-Taking Sophomore House Flipper appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Today I share some information on how I was able to systematically build my house flipping business so that I only need to work around 5 hours a week and still flip around 100 houses a year.  These are five tips I blogged about on Danny Johnson's Flipping Junkie, but I felt deserved a bit more attention here on the podcast.Have any questions for me? 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?Flip TipToday I interviewed Brian Davis from the House Flipping Mastermind group who just got his first offer acceptance after 58 days from starting his house flipping journey!  He shares his background, what made him want to start house flipping in the first place, and how he found out about House Flipping HQ and the mastermind.He also gives details on how he found his property and the work that he will do on the house to add value and increase the ARV so that he can get his projected ROI.  We talk about the importance of taking action and what it takes to move forward.Show NotesIn this episode we cover:How losing rental properties helped me understand the great ROI available from flipping housesThe power of creating systems to automate and grow your businessThe Five Tips that you can apply to systematize your house flipping businessTip 1: Let others do the leg work on acquisitionsException: If you are brand new, then do as much property analysis and walk-throughs as you can until you really understand the process.Utilize your agents who are already doing part of the process for you.It will take time, but you can eventually train them to take over more and more of the acquisition and offer making leg workTip 2: Use a rehab price listThis came as a result of me seeing a lot of similarities in the price that materials were costing for our rehab jobsUsing a price-list means that you reduce negotiations with contractors and your entire rehab process can be streamlined even moreTip 3: Get those agents to work!The combination of using a general contractor and an agent is equivalent and much more efficient than hiring a project manager.My agents help to manage my rehab project <– yes, you read that right!My contractors make sure the work is 100% finished before the leave a job.  And the agents check the contractor's work and take care of all the small items related to selling a house.Tip 4: Avoid the paperwork pile-upPaperwork causes a big distraction that takes away your productivity and focusI had an attorney create a document that allows me to give authority to specific people to take care of things for me.This might not be for everyone.  I am not providing legal advice. Tip 5: Outsource the busy workStart with the easy tasks and then build from there.Always try to eliminate tasks and replace yourself over timeTweetable QuotesClick a quote to tweet it!“If you keep pushing at it, good things will come with your house flipping business” ~ Justin Williams“Just get out there and do it” ~ Brian Davis“What's bad is good and whats good is bad” ~ Justin Williams“Your house flipping machine will always need a certain amount of maintenance.  But if you build the machine then all you have is maintenance” ~ Justin Williams“Make sure it is mutually beneficial” ~ Justin Williams“Get those agents to work!” ~ Justin Williams“It is impossible to streamline and grow your business if you have your hands in every part of the machine” ~ Justin Williams“Try to see, what can you eliminate?” ~ Justin Williams“Always ask yourself, how can I 10x myself?” ~ Justin Williams“If you're going to think, you might as well think big” ~ Justin WilliamsTranscriptClick here to Read and Download the Transcript for Episode 30Links and ResourcesJust Start Real Estate with Mike SimmonsEmail Brian at brian@bamboodetroit.com or call him at (248) 470-6280My guest post on Danny Johnson's Flipping Junkie websiteThe E-MythThe 4 Hour Work WeekWin Girl Scout Cookies!Get some Girl Scout Cookies!Just for leaving a rating and review you can get yourself a box of Girl Scout Cookies!  As I've mentioned before, Ratings and Reviews are really helpful in getting other people to know about this podcast and we want to spread the word about all the content and information we're providing here on House Flipping HQ.  To get your cookies, just follow these steps!Leave a rating AND review on iTunes by going to houseflippinghq.com/podcast or searching for “House Flipping HQ” in the iTunes store and going to our podcast listing.Send an e-mail to info@houseflippinghq.com with your iTunes user name and the text you wrote in the review.In the email include your name and mailing addressFinally, let us know your top 3 preferences for flavor.  You can see a list of flavors here on the Girl Scout's website.  (We'll do our best to accommodate your request but if all 3 are gone we'll have to send you what is available.)Please allow 4 to 6 weeks for delivery. (But it'll probably be much sooner)  The next webinar is scheduled!We will have another House Flipping Webinar on Thursday, March 6, 2014 at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!  This time I'll be focusing heavily on acquisitions!houseflippinghq.com/webinar.Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: Arvindn [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia Commons The post HFHQ 30: 5 Tips to Create a 5 Hour House Flipping Work Week appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Jason and Katherine GroteToday we are visited by Jason and Kathrine Grote who are two house flippers out of Austin, Texas.  They are doing some amazing things with Bank financing and balancing their work and family life.Have any questions for Jason, Katherine or myself? 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?Flip TipA question came in from David and Kelly Kent about making offers on the MLS and structuring relationships with agents.  If you're making offers on the MLS you have a lot of competition.  Either you need to be okay with lower margins or medium-low margins and making a LOT of offers.  Full-time MLS offers are time consuming.  After one of my assistants made offers full time for 2 months we only ended up with 3 deals.  It was worth it, but very difficult.  You have to get serious with some direct marketing if the MLS isn't working to get deals.Show NotesIn this episode we cover:Jason and Katherine's journey from Taxi Cabs and Dance Studios to real estate investingThe importance of utilizing resources like House Flipping HQ and doing your research to know what you need to doThe challenges of investor clubs in Texas and things to be aware ofTheir current business model consisting of retail, wholetail, and wholesale deals.Retail: Standard MLS listing and flippingWholetail: Purchasing potential flip properties and selling it to wholesalers on the open market with less fixing upWholesale: Bringing deals to investorsTheir current methods for acquiring properties using mainly online marketing through their website and how to approach online marketing for acquiring dealsThe importance of understanding what people are going through and how it helps you get referrals.Why high-pressure sales are not a good tactic when dealing with real estateHow Jason and Katherine communicate and deal with sellersHow people can get started “driving for dollars”Their approach to dealing with out-of-state landlordsThe methods the Grote's use to analyze deals and determine the best course of actionThe flip bucket: a property that works well as a flip or wholesale dealThe buy-and-hold bucket: a property that works better as a rental or long-term holdHow the Grote's use bank financing for their flips and have done it on over 40 dealsTheir approach to rehabbing and fixing up propertiesHow the Grote's balance their family and businesses and the importance of setting boundaries and prioritiesTweetable QuotesClick a quote to tweet it!“That's the thing about this business.  There is no one manual that you can go to learn it.  You just have to get out there and learn it and talk to people and immerse yourself in it.” ~ Jason Grote“For anyone who wants to get started with online marketing … the key is to just start.” ~ Jason Grote“Internet leads need to be mixed with other marketing efforts.” ~ Jason Grote“You have to be careful how you treat people.” ~ Katherine Grote“Yes, we're in the business of making a profit, but at the end of the day everyone has to feel good about the transaction.” ~ Katherine Grote“What gives you success for longevity is treating people fairly” ~ Jason Grote“These motivated sellers need your help.  You are helping them.  The number one priority is to assist these people and do what is best for them.” ~ Jason Grote“Boundaries are really important” ~ Katherine Grote“Your business needs to serve you.  You don't serve your business” ~ Jason GroteTranscriptClick here to Read and Download the Transcript for Episode 29Links and Resourceshttp://www.ibuyaustinhouses.comhttp://www.facebook.com/IBuyAustinHousesTiffany HumfeldThanks Tiffany!This week Tiffany Humfeld dropped by the “studio” and sang an awesome intro for this week's episode.  Thanks Tiffany!Tiffany is one of the organizers for the great FIBI (For Investors By Investors) meetup in Long Beach, California.  If you are in the area be sure to check them out.  You can get more information at their meetup website here.You can also check her out at PropertySolved.com.Win 1,000 Yellow Letters! Extended Deadline!!Our yellow letter contest is still going strong!  Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments for episode 27 and Michael Quarles from yellowletters.com will give 1,000 Yellow Letters to the person with the best answer. The winner will be decided at the end of Tuesday, February 25, 2014. The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.And for anyone who leaves a comment Michael will also give you free business cards to help your business!Click here to enter!The next webinar is scheduled!We will have another House Flipping Webinar on Thursday, March 6, 2014 at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!houseflippinghq.com/webinar.Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: Arvindn [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia CommonsThe post HFHQ 29: Bank Financing, People Helping and Life Balancing with Jason and Katherine Grote appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Steven and Erin WilliamsToday we are visited by my brother, Steven Williams who I've been mentoring with his house flipping business.  This is a “fly on the wall” look at a coaching call where we're talking about his approach during the first couple weeks of his real estate investing journey.  We talk about how to approach his deals, we analyze some properties he's looking at and review first steps Steven can take to “fail forward fast” and make progress.Have any questions for Steven or myself? 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?Win 1,000 Yellow Letters!Our yellow letter contest is still going strong!  Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments for episode 27 and Michael Quarles from yellowletters.com will give 1,000 Yellow Letters to the person with the best answer. The winner will be decided at the end of Tuesday, February 18, 2014. The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.And for anyone who leaves a comment Michael will also give you free business cards to help your business!Click here to enter!Show NotesIn this episode we cover:Steven's background and journey before getting started with real estateSteven's current plan to grow his house flipping business by taking massive actionThe actions and approaches that Steven has made since going “full time” with real estate investingJustin's suggestions on how Steven can approach the first batch of potential propertiesAn analysis of the first house Steven is looking at and some possible optionsThe importance of helping your real estate agent understand the reasons behind your offersHow to seek out comps and what to look for to determine your ARVA look at the costs associated with buying and selling propertiesTweetable QuotesClick a quote to tweet it!“The more uncomfortable you are, the more money you make” ~ Steven Williams“Most agents don't understand After Repair Value at all” ~ Justin Williams“Call them all, build relationships and find the value” ~ Justin Williams“Joining the offer club is a big step” ~ Justin WilliamsTranscriptClick here to Read and Download the Transcript for Episode 28Links and ResourcesZillow.comSteven's Email: stevew2003@gmail.comSee me live in Irvine, CA!I will be speaking at the Orange County Real Estate Forum in Irvine, California, this Wednesday, February 12, 2014 at 7:00 PM. I hope to see you there! Visit www.ocreforum.com for more information.Join the Mastermind Webinar!Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014. Click on this link to sign up! houseflippinghq.com/webinar.Rap LyricsHere are the lyrics for the intro rap from today's episode:It’s a one for the money, and the show is twothree to get ready with house flipping hqDon’t call it a comeback, or he’ll mash you upHe’s been flipping these houses like a spatulaAll across the southland, and now in to your headHFHQ is on the inter webYou think you know how to flip from watching DIY?You better self correct because he’s a heck of a guyJ to the U to the S to the T I NListen close cuz I won’t say it againGet your dose of the flip and you’ll come back in timefrom the blog to the pod to the mastermindit’s your one stop shop to drop the flipping bomb.House Flipping HQ dot com!Give Mark a shout-out in the show notes! Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: See page for author [Public domain], via Wikimedia CommonsThe post HFHQ 28: Behind the Scenes of a Coaching Call with Steven Williams appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

This is Part 2 of our interview with Michael Quarles. Part 1 is right here.Michael Quarles is a master marketer from YellowLetters.com and talks about his background with house flipping, his philosophy about making a sizable income, and provides a great introduction to yellow letters and zip letters with relation to direct marketing. He even has an amazing freebie for all of you can hear at the end of the interview!Have any questions for Michael or myself? 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?Today's Flip Tip“Don't be a Yeah-But'er“The most common behavior of people who won't take action is that they invariable use “Yeah, but …” when giving their exuses.  There are two types of people: those who make it work and those who won't. Ryan Skalla called those who won't the “Yeah But'ers”, so I've been using it ever since.  Don't use that phrase and take action!Win 1,000 Yellow Letters!UPDATE!  This contest has finished!  Congratulations to all our winners!And the winner is ….The winner of the Michael Quarles 1,000 yellow letters give-away is Ed! Just e-mail Michael at michael@yellowletters.com to let him know you were the one who won (we have your email on file, so this is how we confirm your identity).For the rest of you who entered, you can also email michael@yellowletters.com with the subject line “HFHQ Biz Cards” with your complete name and mailing address and he'll get you the business cards that he mentioned in the podcast episode. We'll be checking your name against the entries so be sure you actually entered the contest if you send an email! Answer the question “This is why I became a real estate investor” or “This is why I want to become a real estate investor” in the comments below and Michael will give 1,000 Yellow Letters to the person with the best answer.  The winner will be decided at the end of Tuesday, February 18 25, 2014.  The best answer will be the one where Michael can really “taste” your hunger to improve their life through real estate investing.And for anyone who leaves a comment Michael will also give you free business cards to help your business!Who Sang it Better?Thanks to Chris M. for the great image! [poll id="2"]Show NotesIn this episode we cover:Why Michael uses an algorithm model to get the best performing lists.The importance of not judging people by the condition of their house.Michael's proudest experience buying a house and helping someone who needed help.Why you shouldn't rehab a house that you would want to live in.Separating being charitable vs. running a business as a charityMichael's current model for direct mail marketingRole playing a call with a potential seller and the exact words Michael would say.Michael's analysis of how he talks to sellers on the phoneDealing with sellers and Michael's strategies for finding propertiesThe four questions Michael asks to sellers to find out if he is interested in the deal.How Michael closes his deals and buys propertiesThe importance of setting goals, being held accountable and affirmationsTweetable QuotesClick a quote to tweet it!“At the end of the day, We are in the business of buying houses.” ~ Michael Quarles“Don't do to the house what you think it should have.  Do what the buyers will think it should have.” ~ Michael Quarles“If you try to make your business your charity, you will very quickly not have a business at all.” ~ Justin Williams“I require the seller to make me an offer.” ~ Michael Quarles“I can't lose what I don't have.” ~ Michael Quarles“It's hard for people to have what they see as confrontation.  It's not.  Its negotiation.” ~ Michael Quarles“Do you have a house you want to sell?” ~ Michael Quarles“Bought a house.  Made some money on it.  Solved a problem.  Made people happy.” ~ Michael Quarles“I've bought houses from judges, and from the people judges put in jail.” ~ Michael QuarlesTranscriptClick here to Read and Download the Transcript for Episode 27Links and ResourcesList SourceYellow Letters.comMichael's e-mail address.See me live in Irvine, CA!I will be speaking at the Orange County Real Estate Forum in Irvine, California, this Wednesday, February 12, 2014 at 7:00 PM. I hope to see you there!  Visit www.ocreforum.com for more information.Join the Mastermind Webinar!Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014. Click on this link to sign up! houseflippinghq.com/webinar.Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!The post HFHQ 27: Dealing with Sellers and Effective Rehabs with Michael Quarles (Part 2) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

This is Part 1 of our interview with Michael Quarles.  Part 2 is right here.Michael Quarles is a master marketer from YellowLetters.com and talks about his background with house flipping, his philosophy about making a sizable income, and provides a great introduction to yellow letters and zip letters with relation to direct marketing.  He even has an amazing freebie for all of you that will come up on Part 2 of our interview.Have any questions for Michael or myself? 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?Shout Outs and Thanks!Thanks to the members of the House Flipping Mastermind Group for their incredible energy!  You guys are amazing!Flip Tip with Brian Daly and Marcel from REIG“Creating systems and working with assistants”Be particular about the type of communication you are involved in.  Let go and let others do what they are good at.  Don't fill your time and energy with things you don't need to do.  Start assistants off with the lowest hanging fruit and build them up over time.Show NotesIn this episode we cover:Michael's early start working with his father in construction and learning the trade.The reason Michael decided to get started with house flipping and steered clear of being a landlord.What Michael enjoys about house flipping and real estate investing.Michael's answer to the question of whether house flipping is ethicalHow Michael's approach to marketing has changed over timeMichaels' current methods for direct marketing to sellersThe example of Geico and the importance of spending money on marketingA beginner's approach to direct marketingAn introduction to yellow letters and zip lettersTweetable QuotesClick a quote to tweet it!“I don't get paychecks, but I get really fat checks. And I kind of like it like that.” ~ Michael Quarles“I love the bucket of money” ~ Michael Quarles“If you need a tax write off, just make more money” ~ Michael Quarles“We solve a problem for the seller that no one else can” ~ Michael Quarles“The phone will not ring accidentally” ~ Michael Quarles“We can't stop the marketing push.  Keep reinvesting money back in to marketing.” ~ Michael Quarles“I would rather have 10% call volume than 50% call volume.” ~ MIchael QuarlesTranscriptClick here to Read and Download the Transcript for Episode 26Links and Resourceswww.yellowletters.comREIG RenovationsJoin the Mastermind Webinar!Plus, don't forget we will have another House Flipping Webinar on Thursday, February 13, 2014.  Click on this link to sign up!   houseflippinghq.com/webinar.Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: By Petar Milošević (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia CommonsThe post HFHQ 26: Yellow Letters and House Flipping with Michael Quarles (Part 1) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

This is Part 2 of our interview with Will Barnard.  Click here to listen to Part 1.Will Barnard is a house flipper that focuses his energies on higher end properties.  In part 2 of our interview Will discusses the process of dealing with luxury house flips from financing to rehabbing to closing the deal with sellers.Have any questions for Will or myself? 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?Shout Outs and Thanks!Thanks to Paul Colaiani at The Overwhelmed Brain for the GREAT audio introduction!  Think you can do better?  Send it in and show us what you can do and we might feature it on a future episode!Thanks to Rodney Palmer from San Diego for the awesome gift!Thanks also to Casey Cloud, our Ryan Skalla consulting call winner for the Amazon Gift Card!And last but not least, Rick Grimsley for your amazing help in helping my wife know more about what it takes to get a pilot's license.Flip Tip“Cutting Through the Clutter to Hit the Target and Reach Your Goals”Sometimes we're inundated with “information overload”.  For many people the problem isn't not knowing what to do, but just getting up and taking action.  In today's Flip Tip I share some thoughts on how to overcome the “clutter” of business-related information and focus on what it is you're trying to accomplish.  And, specifically with House Flipping, I talk about the 6 steps you need to get started with to start making offers and flipping houses.Show NotesIn this episode we cover:Will's approach to rehabbing high-end luxury homes and the importance of having a visionWhy Will is more hand's-on with some of his rehab projectsHow Will hires and manages his contractorsWill's recommendations for getting started with contractors and where you can get referralsWhat to look for in a contractor and/or handy-manWhat Will puts in his contracts with contractorsWill's use of creative financing on his projects and more details on seller financingA beginner's look at seller financingThe process Will goes through with the appraisal of his propertiesHow Will goes through the closing process when he sells his homesHow he deals with inspections from buyers and requests for repairsWill's recommendations to people who are new to house flipping and how to deal with fearTweetable QuotesClick a quote to tweet it!“Sometimes you have to let the reigns go.  There's a better use of my time.” ~ Will Barnard“If you're an investor and you have a good contractor, you're not giving them up.” ~ Will Barnard“Get educated in whatever strategy you decide to employ” ~ Will Barnard“The rich act in spite of fear when others allow it to stop them” ~ Will BarnardTranscriptClick here to Read and Download the Transcript for Episode 25Links and ResourcesPaul Colaiani at The Overwhelmed BrainWill's website: Barnard EnterprisesBigger PocketsInvestor ExpertsJoin the Mastermind Webinar!Plus, don't forget our House Flipping Mastermind Group is starting tomorrow, February 1, 2014.  We will not be having a webinar until February 13, 2014, which you can sign up for at houseflippinghq.com/webinar.Leave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: A.Savin [CC-BY-SA-3.0-2.5-2.0-1.0 (http://creativecommons.org/licenses/by-sa/3.0) or FAL], via Wikimedia CommonsThe post HFHQ 25: Rehabbing and Selling High End Flips with Will Barnard (Part 2) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

This is Part 1 of our interview with Will Barnard.  Part 2 will be up in two daysWill Bernard is a house flipper that focuses his energies on higher end properties.  Today we discuss how he finds his deals and the process he uses to finance them.  Amazingly he does this all with just private money lenders and his own equity!Have any questions for Will or myself? 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?Flip TipI was thinking about creating systems during a trip to Disneyland.  All successful businesses utilize systems.  You have to give up the idea that you need to do everything in your business on your own.  It does take more time and effort to train someone to do something, so you need to take the time to set up your system.  And you should know how to do something, like evaluating properties, before you train someone else.  But other things that are “unskilled”, like licking stamps, can be turned over quickly and delegated out.  Start delegating the simple stuff and then increase the complexity (and their compensation) as your trust in the person increases.  Then focus your energies on growing you business, instead of running each moving part.Show NotesIn this episode we cover:Will Barnard's early start as a self-employed business person and how he found real estate investing and house flippingIn 2004 Will started buying houses and in 2005 started buying houses in Texas even though he lived in CaliforniaIn 2009 Will did his first flip and almost pulled six figured on the dealWhy Will's main focus right now is on the luxury market with higher-end housesHow Will finds properties using the MLSWhat Will looks for when searching out higher-end dealsWill's business, Investor Experts, and how it helps people find MLS deals.Will's plans to use Direct Mail as part of his acquisition funnelHow Will funds all of his higher end deals just with private money and personal funds.How to increase your pool of private money and find the lenders with money.How to avoid breaking government rules with private money lendingWhat Will does to structure his financing and paymentsTweetable Quotes“Everyone and their dog is trying to flip houses” ~ Will Barnard [Tweet This!]“There is risk in everything we do and everything we say.  It is how well you mitigate that risk that matters” ~ Will Barnard [Tweet This!]“If you're brand new I highly recommend starting with … family and friends” ~ Will Barnard [Tweet This!]“I always focus on the lender and not myself” ~ Will Barnard [Tweet This!]TranscriptClick here to Read and Download the Transcript for Episode 24Links and ResourcesInvestor ExpertsWill's website: Barnard EnterprisesOccupants from HellJoin the Mastermind Group!Plus, don't forget that we will be starting up a first-of-its-kind House Flipping Mastermind group in February! If you'd like to get information on the upcoming webinar or any other information, just sign up here: houseflippinghq.com/mastermindLeave us a Rating and Review!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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: By Wolfgang Staudt from Saarbruecken, Germany (Potsdam Neues Palais) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia CommonsThe post HFHQ 24: High-End House Flipping with Will Barnard (Part 1) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

This is Part 2 of our interview with Marty Boardman.  If you missed it,  click here for Part 1 of this interviewMarty is a house flipper from Phoenix, Arizona, who flips houses in Milwaukee. Yes, you read that correctly. Even though Marty lives in Phoenix he has an active house flipping business with a farm area 2,000 miles from where he lives!In today's interview, we discuss how Marty approaches financing, rehabbing and buying properties.  We also talk about the importance of mentors, how to run a scalable business and there is even a bonus at the end of the episode for you to enjoy. Have any questions for Marty or myself? 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 NotesIn this episode we cover:Federal regulations related to house flippers and private money lendersWhere Marty finds his private money lendersMarty's experience with and strategies for working with contractorsWhy Marty spends most of his time on the acquisition processThe importance of having mentors and people who can guide your developmentHow Marty sells his propertiesThe pros and cons of having a real estate licenseMarty's approach to the business of being a real estate investorPlus, a special bonus at the end of the episode! Memorable Quotes“Where else can you get 12% annualized return with a secured investment?” ~ Justin Williams [Tweet this!]“If I'm going to have 14 rehabs going at one time, I'm going to need at least 4 contractors to manage all the work” ~ Marty Boardman“The only times I ever want to hear form you are, the house burned down, or somebody died in it, or its going over budget, or its going to take longer than you think.  Those are the only four reasons you should call me.” ~ Marty Boardman“Show me the baby.  Don't tell me about the labor pains.” ~ Justin Williams [Tweet this!]“You have to empower people to make their own choices.” ~ Marty Boardman [Tweet this!]“He told me, ‘you know a LOT about real estate, but you don't know JACK about business.” ~ Marty Boardman [Tweet this!]“Investing in real estate is a business.  Just like any other business … it does require a lot of work.  You have to immerse yourself in the craft of real estate investing.” ~ Marty Boardman“If you're going to build a scalable investment business … you need to be willing to step back” ~ Marty Boardman [Tweet this!]“Who doesn't love to see a dumpy little house turn in to something you can be proud of?” ~ Marty Boardman [Tweet this!]TranscriptClick here to Read and Download the Transcript for Episode 23Links and ResourcesFixing and Flipping Real Estate: Strategies for the Post-Boom Era (Affiliate Link)Pro Teck Valuation ServicesJoin the Mastermind Group!Plus, don't forget that we will be starting up a first-of-its-kind House Flipping Mastermind group in February! If you'd like to get information on the upcoming webinar or any other information, just sign up here: houseflippinghq.com/mastermindLike 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 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 it’s contents, please post them in the comments area below and I’ll be happy to answer them!Image Attribution: By Azwatchdog (Own work) [GFDL (http://www.gnu.org/copyleft/fdl.html), CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/), CC-BY-2.5 (http://creativecommons.org/licenses/by/2.5), CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia CommonsThe post HFHQ 23: Long Distance House Flipping – Marty Boardman (Part 2) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.