How To GET RICH Flipping Houses

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The way you get rich flipping houses is to build a lead pipeline. This is something I covered extensively in the book.

In this book, I covered quite a bit of stuff but the book surrounds the idea of the 3 Core Pillar.

  1. Value.
  2. Automation.
  3. People.

Money doesn’t come from properties, it comes from people. Yes, we’re in the real estate business.

But if you can’t get a hold of the people that control the real estate property, you’re wasting time.

If you have a list of property addresses, that’s not leads; that’s just data.

If you drive around town writing down property addresses, the only thing you’re doing is called data collection,

…which, yes, Chapter 3 of this book is all about data collection.

But there are faster, easier and cheaper ways to do it rather than spending money on gas, breaking your breaks, and hurting the car.

There are cheaper ways to do that rather than driving around town, but data collection is a very important part of the business.

It’s the whole Chapter 3 in the book. You can see in the figure below that it’s the step before you make a contact.:

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“Contact” is when you make contact with the actual human being or they contact you…

In which case you’ll be jumping through to stage 3, which then becomes the lead.

When somebody is interested in actually selling, that’s when it becomes leads.

But I see quite a lot of people in the game confusing a piece of data or a piece of property address, with people, which is the only place where the money comes from.

So the 3rd core pillar is People.

The 2nd core pillar is automation…meaning systems, medium or media; it’s all about automating the serving of people, which is the 3rd core pillar, with value.

Bringing value to people is how you create money and it’s no different in real estate; That’s how you get rich flipping houses.

If you can find a way to put that into a system, that can repeat the process over and over, like a well-oiled machine, while you keep it simple, you are effectively building an empire.

If you don’t keep things simple, you will get frustrated out of the business. But sometimes “simple” is relative, it depends on what you’re looking at.

Some people say,

Hey, You’re the engineer, so it sounds easier”.

They’re right but also, it’s also true that when you want something bad enough, you will figure out that you need to build a system around high performance and production.

And if you don’t want it bad enough, you will give all kinds of excuses.

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You would rather drive around town writing down property addresses and you say things like…

No, I just like to keep it simple”.

So, it’s true that simple is relative, but consider the fact that we’re in 2000&Digital.

Digital marketing

And/or…As close to digital as possible.

…is the only way you can compete in the game of getting rich flipping houses because if it was easy as not to set up a system, everyone else would be doing it.

There’s something you need to learn.

The skills of marketing and you have to build a automated machines that will bring the value you have to offer to people.

Consistently & Repeatedly.

When people get the value, they become leads in your pipeline and then you are effectively building out the pipeline.

That’s how to get rich flipping houses.

Exactly how to do that step by step is something that we cover in 11DaysChallenge.com.

You can set all that up in 11 days and start generating leads; what do I mean by generating leads?

I didn’t say, “write down addresses”, that’s just data collection, that’s just basically stage 1 of a 5 stages business model. You’re essentially stuck at stage 1 if all you’re doing is writing on addresses.

We’re talking about talking to real human beings that are now interested in selling a property. Potentially a percentage of them will be interested in selling; that’s stage 3.

Then you can set up a contract and then subsequently close deals.

Those are the stages right there if you want to take it seriously and you want to learn how to flip houses.

Now, what about the part where you rehab?

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Well, rehabbing is rehabbing.

Some people consider that as being part of flipping houses, but that’s completely a matter of choice.

You can decide that you want to rehab if you want and are capable of doing so…

But the house you are going to rehab has to be found first and if you choose to flip without fixing it a.k.a rehabing it… we call that business model Real Estate Wholesaling

….but it’s all part of flipping houses.

You find a house that’s in distress or with the homeowner in distress at the very minimum,

The homeowner has to feel the distress…

If the house is in distress and the homeowner doesn’t feel the distress, that’s what you call a non-motivated seller; you’re basically wasting energy.

So once you find a motivated seller, essentially people (the 3rd core pillar) which you can learn more about in the book.

Once you find a motivated seller, then you are in the game. Everything else before that is what you need to master; it’s called marketing.

Without marketing, you’re wasting energy, you are just running a charity organization from the discomfort of your home.

So that’s how to get rich flipping houses.

Frequently Asked Questions (F.A.Q)

What is the 70 rule in house flipping?

It’s a boundary set by investors to account for profit goals and cost associated with the business of real estate investing when scouting for deals.

They simply multiply the after repair value (ARV) of a target subject property by 70% and adjust the product for repair cost estimate. (70% x ARV) – Repairs = Maximum Allowable Offer (MAO)

How much does the average house flipper make?

The average flipper makes less than $5,000 in a year while the highest paid house flipper can make as much as $2,000,000 ($2 million) per year.

Flipping houses is a entrepreneurship endeavor therefore it requires marketing and business scaling skill set. Most human being can’t but you can.

Can you make good money flipping houses?

Yes you can make good money flipping houses but it’s a question of big discrepancy between probability and possibility.

The average flipper makes less than $5,000 in a year while the highest paid house flipper can make as much as $2,000,000 ($2 million) per year.

Can you really flip houses with no money?

Yea. You can flip houses with no money. What that simply means is that you will have to invest time and sweat equity to build cash.

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