There are 5 stages you should consider when it comes to finding deals for real estate flipping.
You can learn more about this with the 11 days challenge and it also gives you the opportunity to access the best real estate flipping course in the business.
Know Your Numbers – Real Estate Flipping Calculator
If you follow us, you would realize by now that we are all about systems because we are humans and it’s very important to respect that.
One of the ways to do that is to leverage real estate flipping calculators to ensure that your numbers are on point.
This is business and the ultimate goal is profits.
How to Flip Houses for Beginners
A lot of pieces in your real estate flipping business can become redundant.
In this piece, you will discover the solution to this massive virus in your business
I suggest that you create a user guide and/or a system that does the motivation work for you.
Then you can plug your team in on it.
If they are supposed to be in your team, your user guide and system will wake them up to the reality of your team being a REAL business.
Creating Systems will motivate the RIGHT PEOPLE.
You do not have time for babysitting henceforth.
When you know better that you can use books and systems to motivate your team while you are not there physically, your time becomes worth more than money itself all of a sudden.
It’s called leverage.
Most people practice real estate flipping without building a team.
They essentially approach the business like a job.
If you’ve studied rich dad poor dad’s 4 quadrant, you’d know that the only quadrant where you can build wealth is in the ‘B’ (Business) and the ‘I’ (Investing) quadrant.
The fundamental difference between the E/S duo and B/I duo is leverage.
That’s why I recommend running your real estate flipping business as a Business.
The other 2 quadrants are the ‘E’ (employee) and the ‘S’ (self-employed) quadrant.
With the E/S, you are earning income as a single person and you can only earn income when you show up to work.
With the “I” quadrant, you have your earned and saved income working for you without necessarily being involved.
When it comes to the “B”, you have or create systems that work for you either you are there or not in flesh.
In my opinion, this is the most stable and promising way to build wealth.
There are 2 ‘T’s that you need to apply leverage to you Real Estate Flipping.
- T for Technology and
- T for Team building.
QUESTION FROM THE VIEWER
“Hey coach, I had to fire the dude that was assisting me so I met with another guy. I knew be might be though because he seems to have some experience with the business. He just kind of lost everything in bankruptcy recently.
But I noticed that it’s hard to schedule time to cover the training that I had to go through with him. However, He also said in a text to not that he can only work 2 days a week.
This was last Thursday. Today he’s all over my text with an ultimatum for the training session within 24 hours. He now wants to meet me for tomorrow.
I have not responded. I can’t deal with this. It all seems wrong. What am I doing wrong? Could this be a good candidate?”
RELATED – flipping houses for a living meaning tv show with no money how to get started make real estate what is
Well, it starts with a strong desire because your faith will be tested.
It’s business and entrepreneurship like any other day so sometimes, things will seem like it’s not going the right way or in the right direction.
When that happens, are you gonna quit or are you very quick to say…
“This doesn’t work” or
You will find …
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)
Is flipping real estate profitable?
The flipping real estate can be an extremely lucrative business but like any other business, it depends on your ability to count your money on a balance sheet.
Finding deals cost time and some money.
Therefore, being able to mange that is key
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.
How much does the average house flipper make?
An average flipper make less than $5,000 per year and there are many making more that $1 million per year. It’s all about your marketing skill set and ability to find deals.