Rod Wilson from Anchor Loans is with us today to help us thinking like a lender to get the best financing for our deals. This is especially important with the tightening up of lending that has started. Rod says they are continuing to be somewhat aggressive with lending which is great news for real estate investors. In this episode, discover: * How to adjust and navigate through the new lending environment * Ideas on how to get the best financing * How to think like a lender, and underwrite deals accordingly * What most lenders want to hear and see from an investor/borrower

Rod Wilson from Anchor Loans is with us today to help us thinking like a lender to get the best financing for our deals. This is especially important with the tightening up of lending that has started. Rod says they are continuing to be somewhat aggressive with lending which is great news for real estate investors. In this episode, discover: * How to adjust and navigate through the new lending environment * Ideas on how to get the best financing * How to think like a lender, and underwrite deals accordingly * What most lenders want to hear and see from an investor/borrower

227: Thinking Like a Lender To Get Best Funding

Justin Treadwell has been a part-time real estate investor since 2003. He went full-time in 2020 and now does over 40 deals per year. Listen in to find out what changes his business needed to undergo for him to ramp up to generating more leads and doing more deals from those leads. Justin buys houses so that you can sell your Knoxville, TN house fast at https://ReliantHomeBuyersTN.com

Justin Treadwell has been a part-time real estate investor since 2003. He went full-time in 2020 and now does over 40 deals per year. Listen in to find out what changes his business needed to undergo for him to ramp up to generating more leads and doing more deals from those leads. Justin buys houses so that you can sell your Knoxville, TN house fast at <a href="https://ReliantHomeBuyersTN.com" rel="nofollow" target="_blank">https://ReliantHomeBuyersTN.com</a>

226: Why You Need a CRM

When we waste leads, we lose money...lot's of it! Discover the 5 ways seller leads are wasted by real estate investors and wholesalers on the daily. Be sure to take advantage of the 75% holiday sale for your first month of Forefront CRM. Visit https://forefrontcrm.com/pricing to find out more.

When we waste leads, we lose money...lot's of it! Discover the 5 ways seller leads are wasted by real estate investors and wholesalers on the daily. Be sure to take advantage of the 75% holiday sale for your first month of Forefront CRM. Visit <a href="https://forefrontcrm.com/pricing" rel="nofollow" target="_blank">https://forefrontcrm.com/pricing</a> to find out more.

225: 5 Ways Leads Are Wasted

Use coupon code HOLIDAY75 to take advantage of our holiday special for Forefront CRM to get 75% off! Https://forefrontcrm.com/pricing In this episode, Danny discusses the changes happening in his market that are coming to most places. The shift is going from sellers market to buyers market. He covers 3 critical areas of our business that need to be addressed so that we can make our money when we buy houses. He also discusses the special offer for Forefront CRM to help you to ensure these 3 critical phases of your business operations are covered and automated. Check out a demo of Forefront CRM at https://forefrontcrm.com/demo and then use coupon code HOLIDAY75 to get 75% off!

Use coupon code HOLIDAY75 to take advantage of our holiday special for Forefront CRM to get 75% off! <a href="Https://forefrontcrm.com/pricing" rel="nofollow" target="_blank">Https://forefrontcrm.com/pricing</a> In this episode, Danny discusses the changes happening in his market that are coming to most places. The shift is going from sellers market to buyers market. He covers 3 critical areas of our business that need to be addressed so that we can make our money when we buy houses. He also discusses the special offer for Forefront CRM to help you to ensure these 3 critical phases of your business operations are covered and automated. Check out a demo of Forefront CRM at <a href="https://forefrontcrm.com/demo" rel="nofollow" target="_blank">https://forefrontcrm.com/demo</a> and then use coupon code HOLIDAY75 to get 75% off!

224: How To Win During Market Shift

Colin Spivey shares how he's increased his deal flow by improving his response rates using automated follow up.

223: Increasing Seller Response Rates For Automated Follow Up

Danny shares with us how he’s always waited too long to hire. If you are feeling pulled in a thousand different directions and have to be the one to make a thousands decisions every day, you’re going to feel overwhelmed and burned out. You are going to make decisions quickly, without weighing the facts. You’re going to get frustrated. That frustration will likely cause problems because it will come out sideways after being buried for a long time. How do we avoid this? First, we need to realize that we cannot do it all ourselves. We need help. We need to hire people to take some work off our plates.

222: Waiting Too Long To Hire

Brent Daniels from Talk To People (TTP) shares with us his proactive method to getting deals through cold calling. Find out how to overcome hesitation to talk to you as a real estate investor and ALL 6 responses you'll get when making cold calls.

221: Be Proactive: Talk To People

Jason Lavender joins Danny on the podcast to give an update since his last appearance in 2018. Jason has made the transition to delegating tasks to the appropriate people so that he can focus on guiding the business and preparing for any change in the market.

Jason Lavender joins Danny on the podcast to give an update since his last appearance in 2018. Jason has made the transition to delegating tasks to the appropriate people so that he can focus on guiding the business and preparing for any change in the market.

220: Transitioning To Work On The Business

Steve Trang joins Danny to discuss what active listening 2.0 is all about. If you're looking to improve your close ratio, this episode is a must. The insights into how to dig deep into the true reason for selling for each motivated seller is priceless.

Steve Trang joins Danny to discuss what active listening 2.0 is all about. If you're looking to improve your close ratio, this episode is a must. The insights into how to dig deep into the true reason for selling for each motivated seller is priceless.

219: Active Listening To Close More Deals

Are you wasting time every month, week, and day dealing with symptoms of bigger problems in your real estate investing business? It's time to cut the crap and get to the core of the issue. Knock over the big domino that drops hundreds of small dominos.

218: Are You Dealing With Symptoms

Flipping Junkie is a podcast for people addicted to flipping houses, wholesaling houses, and real estate investing. Danny started flipping houses in 2003 and has chronicled his journey to help house flippers both new and experienced. Subscribe for weekly episodes featuring interviews with people just getting started as well as big name investors like Brandon Turner of Bigger Pockets and Justin Williams from House Flipping HQ. The podcast covers a range of topics like what is working today to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determining repair costs, finding contractors and managing rehab crews, what improvements to make and how to quickly sell your houses for big profits and so much more. Don’t worry, we won’t leave out the serious mistakes that you need to avoid when get starting and growing your real estate investing business. Join Danny Johnson to get the inside scoop on how to get started and how to stay successful to create true financial freedom for yourself and your family.

Danny is an excellent interviewer. I love the variety and thoroughness.

Thoughtful and planned

Great podcast for house flipping. Got to be one of the best. Tony Ludwig

Awesome content

Flipping Junkie Podcast with Danny Johnson

Mike Newby

Mike is brand new in the investing world but brings a construction engineering degree, and 10+ years of construction background, knowledge and business sense. Alongside him is his beautiful wife, Sarah, and loving father, Jim, who have helped get their real estate investing company, Newbyginnings, off the ground and now full steam ahead. They have big dreams for the company and hope to help thousands of families create their new beginning. Mike is also currently a full time construction consultant and his wife is a full time cardiac ICU nurse at a local Children's hospital. When Mike started studying real estate investing, it only took him about 6 - 8 months for him to make the decision to jump into the industry. Mike found a wholesaler and got his first deal done. With a good foundation and knowledge base, he was confident in working his first deal for his real estate investing business. Where so many people give up before they hit this point, Mike kept going and is working everyday at making his business a success. As soon as he decided to get into real estate investing, Mike found a wholesaler posting houses on Instagram. He sent a message, got into communication with someone on this wholesaler’s team, and started communication. This group has a wide range of buyers, so they were eager to talk to Mike. They walked through a few houses, and on the third property Mike made a bid and got it. It took 2 or 3 weeks staying in communication with this wholesaler before the property was Mike’s. What a great first deal! For more connections, Mike has been networking in the Flip Pilot group on FaceBook. Finding other wholesalers is the key to starting up a successful real estate investing business. With both Mike and his wife still working full time jobs, and being full time parents, wholesaling felt like an easy way into real estate investing. As long as the numbers make sense, there’s no reason not to jump into it. There’s a perception that wholesale deals don’t have much meat on their bones, but that’s just not true. Mike’s rule is 70% is the golden number. In his market, that’s tough to get, but you can expect to be around 80% - 85% ARV minus repairs. BiggerPockets has an ARV calculator, but Mike made his own in a spreadsheet to keep track of his numbers. With his spreadsheet, he determines if the numbers work for his marketing and business. This is the spreadsheet Mike uses, so if you decide to use this method, be aware that your numbers need to reflect your market. For Mike’s first deal, Mike went through 2 wholesalers. Despite them both taking their cuts, there was still meat left on the deal. The property was a little rough, though. The property was supposed to be vacant, but it wasn’t. The sellers were there for 3 or 4 days after Mike closed on the house, which they weren’t supposed to be. Mike was still working on the plan for the property, but everything went well in the end. When the sellers eventually left, they left behind much more stuff than Mike was expecting. Despite the unforeseen difficulties with this first property, Mike’s ultimate concern in with helping people like the sellers of this property. That’s where the name of his business, Newbyginnings comes from (in addition to it being a play on his last name). “You never know where your next deal is going to come from,” Mike said. The sister of the seller had been waiting for someone like Mike to buy her sister’s house. After seeing the amazing success with her sister’s property, she mentioned that she’s going to be selling her house next year and wants to go through Mike. She even offered to make a testimonial, and took a picture with Mike, and wrote an awesome review for him. Her property will, hopefully, be Mike’s 5th deal for his business. When it comes to actually rehabbing your property, communication is always key. Mike’s GC had brought in someone from other projects to help with the rehab, but staying in communication was a bit of an issue. Mike would talk with his GC, and thought that word was getting passed down to the other contractors, but with the mix up it didn’t. The plan in the future is to sit down over dinner with their GC and other contractors to get to know each other better, and keep the communication channels open. Making sure you know who’s responsible for what is important for keeping a real estate investing business organized.

Mike is brand new in the investing world but brings a construction engineering degree, and 10+ years of construction background, knowledge and business sense. Alongside him is his beautiful wife, Sarah, and loving father, Jim, who have helped get their real estate investing company, Newbyginnings, off the ground and now full steam ahead. They have big dreams for the company and hope to help thousands of families create their new beginning. Mike is also currently a full time construction consultant and his wife is a full time cardiac ICU nurse at a local Children's hospital. When Mike started studying real estate investing, it only took him about 6 - 8 months for him to make the decision to jump into the industry. Mike found a wholesaler and got his first deal done. With a good foundation and knowledge base, he was confident in working his first deal for his real estate investing business. Where so many people give up before they hit this point, Mike kept going and is working everyday at making his business a success. As soon as he decided to get into real estate investing, Mike found a wholesaler posting houses on Instagram. He sent a message, got into communication with someone on this wholesaler’s team, and started communication. This group has a wide range of buyers, so they were eager to talk to Mike. They walked through a few houses, and on the third property Mike made a bid and got it. It took 2 or 3 weeks staying in communication with this wholesaler before the property was Mike’s. What a great first deal! For more connections, Mike has been networking in the Flip Pilot group on FaceBook. Finding other wholesalers is the key to starting up a successful real estate investing business. With both Mike and his wife still working full time jobs, and being full time parents, wholesaling felt like an easy way into real estate investing. As long as the numbers make sense, there’s no reason not to jump into it. There’s a perception that wholesale deals don’t have much meat on their bones, but that’s just not true. Mike’s rule is 70% is the golden number. In his market, that’s tough to get, but you can expect to be around 80% - 85% ARV minus repairs. BiggerPockets has an ARV calculator, but Mike made his own in a spreadsheet to keep track of his numbers. With his spreadsheet, he determines if the numbers work for his marketing and business. This is the spreadsheet Mike uses, so if you decide to use this method, be aware that your numbers need to reflect your market. For Mike’s first deal, Mike went through 2 wholesalers. Despite them both taking their cuts, there was still meat left on the deal. The property was a little rough, though. The property was supposed to be vacant, but it wasn’t. The sellers were there for 3 or 4 days after Mike closed on the house, which they weren’t supposed to be. Mike was still working on the plan for the property, but everything went well in the end. When the sellers eventually left, they left behind much more stuff than Mike was expecting. Despite the unforeseen difficulties with this first property, Mike’s ultimate concern in with helping people like the sellers of this property. That’s where the name of his business, Newbyginnings comes from (in addition to it being a play on his last name). “You never know where your next deal is going to come from,” Mike said. The sister of the seller had been waiting for someone like Mike to buy her sister’s house. After seeing the amazing success with her sister’s property, she mentioned that she’s going to be selling her house next year and wants to go through Mike. She even offered to make a testimonial, and took a picture with Mike, and wrote an awesome review for him. Her property will, hopefully, be Mike’s 5th deal for his business. When it comes to actually rehabbing your property, communication is always key. Mike’s GC had brought in someone from other projects to help with the rehab, but staying in communication was a bit of an issue. Mike would talk with his GC, and thought that word was getting passed down to the other contractors, but with the mix up it didn’t. The plan in the future is to sit down over dinner with their GC and other contractors to get to know each other better, and keep the communication channels open. Making sure you know who’s responsible for what is important for keeping a real estate investing business organized.

91: [Finding Deals] Landing Your First Flip Deals with Mike Newby

Geremy Heath is the owner and founder of Texas All Cash Home Buyers. Texas all Cash is a residential redevelopment that turns around distressed properties for profit in the both the San Antonio and Austin areas. Since starting the company in 2009 Geremy has successfully completed over 150 rehab projects.  Geremy came to the US from Australia in 2006 and met his wife a couple months later.  While at the airport to leave for their honeymoon, he purchased a book about real estate investing.  Much to his bride’s dislike he burned through the book during their trip.  The fire was lit and he became passionate about leaving the rat race and working his way to financial freedom through real estate investing. In this episode Geremy tells us how he developed the right mindset to be able to become a success with house flipping.  You have to expect to achieve the outcome you want.  You have to believe you are going to make it. Find out how to get the proper mindset in this episode so that your odds of success are greatly improved.

Geremy Heath is the owner and founder of Texas All Cash Home Buyers. Texas all Cash is a residential redevelopment that turns around distressed properties for profit in the both the San Antonio and Austin areas. Since starting the company in 2009 Geremy has successfully completed over 150 rehab projects.  Geremy came to the US from Australia in 2006 and met his wife a couple months later.  While at the airport to leave for their honeymoon, he purchased a book about real estate investing.  Much to his bride’s dislike he burned through the book during their trip.  The fire was lit and he became passionate about leaving the rat race and working his way to financial freedom through real estate investing. In this episode Geremy tells us how he developed the right mindset to be able to become a success with house flipping.  You have to expect to achieve the outcome you want.  You have to believe you are going to make it. Find out how to get the proper mindset in this episode so that your odds of success are greatly improved.

3: The Mindset That Guarantees Flipping Houses Success

In a few short years time, Henry found himself transitioning from a single lifestyle- where he only had to worry only about himself- into a married man trying to provide for his family. That’s why one year ago, Henry Washington decided that taking action and pursuing his real estate investment journey was the next step, and it’s been a whirlwind ever since. Even with a full-time day job in IT Project Management, Henry was unsure how we was going to be able to take care of his family. Desperate, he began looking into his options and decided that the financial freedom that comes with real estate investing was the best option for him. Still though, the fear of spending it all for nothing in return kept him from making the first leap. This fear was essentially keeping him from taking action to achieve his dreams. “We wouldn’t have had as much success that we’d had if my mindset wasn’t in the right place,” says Washington. Entirely unsure of where to even start, Henry starting taking action and began by reading books and listening to the FlippingJunkie podcast. This education led him to the decision to take action again and create his own real estate investment website using LeadPropeller. After first taking action, in his first year alone, he has acquired roughly 30 deals, including flips, wholesales, and rentals and his business only continue to grow. Listen along as Henry and Danny discuss taking action and how Henry was able to get over those fears with creative problem solving, the first steps he took to get into the industry, and how he’s expanding his clientele and establishing credibility and trust in his area through networking and maintaining relationships!

In a few short years time, Henry found himself transitioning from a single lifestyle- where he only had to worry only about himself- into a married man trying to provide for his family. That’s why one year ago, Henry Washington decided that taking action and pursuing his real estate investment journey was the next step, and it’s been a whirlwind ever since. Even with a full-time day job in IT Project Management, Henry was unsure how we was going to be able to take care of his family. Desperate, he began looking into his options and decided that the financial freedom that comes with real estate investing was the best option for him. Still though, the fear of spending it all for nothing in return kept him from making the first leap. This fear was essentially keeping him from taking action to achieve his dreams. “We wouldn’t have had as much success that we’d had if my mindset wasn’t in the right place,” says Washington. Entirely unsure of where to even start, Henry starting taking action and began by reading books and listening to the FlippingJunkie podcast. This education led him to the decision to take action again and create his own real estate investment website using LeadPropeller. After first taking action, in his first year alone, he has acquired roughly 30 deals, including flips, wholesales, and rentals and his business only continue to grow. Listen along as Henry and Danny discuss taking action and how Henry was able to get over those fears with creative problem solving, the first steps he took to get into the industry, and how he’s expanding his clientele and establishing credibility and trust in his area through networking and maintaining relationships!

118: [TAKING ACTION] 30 Deals First Year

Erik Bee

LEAD

Erik Bee shares with us his method of closing more leads and creating killer deals with his iPad based comparison tool for making offers to motivated sellers.

Erik Bee shares with us his method of closing more leads and creating killer deals with his iPad based comparison tool for making offers to motivated sellers.

Episode 164: iPad Lead to Deal Acquisition Method with Erik Bee

Josh Rudin

After meeting his mentor Josh Rudin started buying and flipping houses 6 years ago when he was 19 years old. He went through a lot of negative experiences and learned from them and grew in the process. Now he’s making positive cash flow and doing flips.  He primarily focuses his flips in 4 cities near Victorville, Ca. He hired a project manager double his age to handle all his deals and having the help has given him the time to focus his efforts on finding deals and even traveling the world.   My name is Josh Rudin, I am 25 years old, and I grew up in a small city called Agoura Hills, CA in the suburbs of Los Angeles. The way I got started in real estate is my dad introduced me to a mentor he had heard about through a friend. Every Tuesday my mentor was holding meetings at Red Robin. He would bring a board game every day called the millionaire maker by Laurel Langemeier. The point of the game was to grow your balance sheet. I learned about assets, liabilities, income, and expenses and how to account for every dollar. The game really opened my eyes to a whole new way of thinking. One day I told my mentor I want to start doing this in real life. He let me know I am ready and that I need to be up at 4 am Saturday because he is picking me up and taking me to an area he’s been intrigued with the growth. That Saturday morning after driving for 2 hours we had made it to the “High Desert”. We would drove around all day asking questions to locals and writing down addresses of vacant properties, so we can really understand the market and the area. After a few months of driving out there almost every weekend I decided I feel comfortable with the area enough to make my first offer. It was accepted and at age 19 I owned my first home. It was one of the best feelings I have ever felt. Ever since then, I have slowly grown my business to where I am now, buying over 10 houses a year for the past couple years.

After meeting his mentor Josh Rudin started buying and flipping houses 6 years ago when he was 19 years old. He went through a lot of negative experiences and learned from them and grew in the process. Now he’s making positive cash flow and doing flips.  He primarily focuses his flips in 4 cities near Victorville, Ca. He hired a project manager double his age to handle all his deals and having the help has given him the time to focus his efforts on finding deals and even traveling the world. My name is Josh Rudin, I am 25 years old, and I grew up in a small city called Agoura Hills, CA in the suburbs of Los Angeles. The way I got started in real estate is my dad introduced me to a mentor he had heard about through a friend. Every Tuesday my mentor was holding meetings at Red Robin. He would bring a board game every day called the millionaire maker by Laurel Langemeier. The point of the game was to grow your balance sheet. I learned about assets, liabilities, income, and expenses and how to account for every dollar. The game really opened my eyes to a whole new way of thinking. One day I told my mentor I want to start doing this in real life. He let me know I am ready and that I need to be up at 4 am Saturday because he is picking me up and taking me to an area he’s been intrigued with the growth. That Saturday morning after driving for 2 hours we had made it to the “High Desert”. We would drove around all day asking questions to locals and writing down addresses of vacant properties, so we can really understand the market and the area. After a few months of driving out there almost every weekend I decided I feel comfortable with the area enough to make my first offer. It was accepted and at age 19 I owned my first home. It was one of the best feelings I have ever felt. Ever since then, I have slowly grown my business to where I am now, buying over 10 houses a year for the past couple years.

103: [MINDSET] Overcoming Challenges When Flipping Houses with Josh Rudin

Justin Williams has been a full-time investor for over 8 years.  He’s flipped over 500 houses.  He considers himself a house flipping machinist.  What he means by that is that he is all about building systems so that he could scale quickly and do more with his time.   Here’s what you will learn in this episode:  How he won a car for a house flipping challenge from his mentor but never received it How Justin doesn’t stress about those things and just focuses on the future and the fact that he learned how to make so much more money flipping houses that the car didn’t matter How Justin was in a really tough spot when the economy changed and found the opportunities out of the adversity and ended up doing better than ever before  The question to ask yourself every time you do something during the day Why it’s wrong to think you can do everything better than someone you could hire to do it How he found the person that basically runs his house flipping business What he’s noticed from the people that he coaches that succeed that is the reason for their success    I was busy doing most of the work in my flipping business and had a talk on the phone with Justin.  His excitement and approach to flipping through systems really inspired, so much so that I asked if he’d mind if I flew to California to hang out with him for a day to learn more.  This was out of the blue, mind you and he still accepted.  I immediately booked a flight and spent a day of crash course learning from him. 

Justin Williams has been a full-time investor for over 8 years.  He’s flipped over 500 houses.  He considers himself a house flipping machinist.  What he means by that is that he is all about building systems so that he could scale quickly and do more with his time. Here’s what you will learn in this episode: <ul> <li>How he won a car for a house flipping challenge from his mentor but never received it</li> <li>How Justin doesn’t stress about those things and just focuses on the future and the fact that he learned how to make so much more money flipping houses that the car didn’t matter</li> <li>How Justin was in a really tough spot when the economy changed and found the opportunities out of the adversity and ended up doing better than ever before </li> <li>The question to ask yourself every time you do something during the day</li> <li>Why it’s wrong to think you can do everything better than someone you could hire to do it</li> <li>How he found the person that basically runs his house flipping business</li> <li>What he’s noticed from the people that he coaches that succeed that is the reason for their success</li> </ul> I was busy doing most of the work in my flipping business and had a talk on the phone with Justin.  His excitement and approach to flipping through systems really inspired, so much so that I asked if he’d mind if I flew to California to hang out with him for a day to learn more.  This was out of the blue, mind you and he still accepted.  I immediately booked a flight and spent a day of crash course learning from him.

4: Building Systems to Flip Over 500 Houses w/Justin Williams

Nathan Cron is the broker at New Western in San Antonio and Austin.  They did 370 deals last year!    Nathan is also a good friend of mine and we have done a lot of business together.  He is one of my ‘go-to’ guys whenever I wholesale a deal.    In this episode, Nathan shares how he got started in this business by answering a newspaper ad after college.  He credits his success to being blessed to get started with that company and getting the proper training.  He now gives back by helping people get started through New Western.   He shares the stories of a couple of deals where he bought them, fixed them up and then rented them out for incredible cash flow.   Nathan shares my belief that it’s important to buy conservatively (cheap) and try to stay as debt free as possible.  We talk for a while about how the market is always cyclical and if you want to be successful throughout each cycle, you have to be somewhat conservative.   Nathan’s strategy for attaining his goal of $10,000 month in passive income is just plain smart.  He waits until he has the cash to buy the house without a loan.  This way he gets incredible cash flow, tax benefits and security.  He’s also a little different in that he rehabs these houses as if he is going to sell them.  Most landlords do lesser rehabs for rentals to save money.  He doesn’t want to have calls about broken toilets and clogged drains so he makes sure his rentals will be as maintenance free as possible.  This also does wonders with attracting the “right” tenants.  The tenants that won’t make your life miserable.   We also talk about how being resourceful is what separates those that succeed at real estate investing from those that do not

Nathan Cron is the broker at New Western in San Antonio and Austin.  They did 370 deals last year!  Nathan is also a good friend of mine and we have done a lot of business together.  He is one of my ‘go-to’ guys whenever I wholesale a deal.  In this episode, Nathan shares how he got started in this business by answering a newspaper ad after college.  He credits his success to being blessed to get started with that company and getting the proper training.  He now gives back by helping people get started through New Western. He shares the stories of a couple of deals where he bought them, fixed them up and then rented them out for incredible cash flow. Nathan shares my belief that it’s important to buy conservatively (cheap) and try to stay as debt free as possible.  We talk for a while about how the market is always cyclical and if you want to be successful throughout each cycle, you have to be somewhat conservative. Nathan’s strategy for attaining his goal of $10,000 month in passive income is just plain smart.  He waits until he has the cash to buy the house without a loan.  This way he gets incredible cash flow, tax benefits and security.  He’s also a little different in that he rehabs these houses as if he is going to sell them.  Most landlords do lesser rehabs for rentals to save money.  He doesn’t want to have calls about broken toilets and clogged drains so he makes sure his rentals will be as maintenance free as possible.  This also does wonders with attracting the “right” tenants.  The tenants that won’t make your life miserable. We also talk about how being resourceful is what separates those that succeed at real estate investing from those that do not

14: How to Flip Houses With Minimal Risk w/Nathan Cron

Just a few years ago, Cody was selling insurance and didn’t know much about Real Estate. He heard about a little niche known as “Wholesaling” and got interested. He quickly decided to go “All in” on Wholesaling and generated over $500,000 in his first year and has since created a 7 figure Wholesaling business. After going to a seminar in Utah, Cody jumped in to wholesaling. He took on what advice he was given and found a mentor. In 2015, Cody started listening to every real estate investing podcast he could find and that was it. He found a mentor and got in to wholesaling as fast as he could! Wholesaling appealed to Cody because it was a great start. “I started with the end in mind,” he says. “You’ve got to build a cash buyers list. If you don’t have an end game in mind, it doesn’t matter because you can’t do anything with it.” Building cash buyers is simple. There are a few ways to find them: 1 - Go to REIA meetings in your local town. 2 - Get on the phone on Craigslist. Call land lords or people trying to sell their rentals, they’re always interested in listening to what a wholesaler has to say. You want to look at a vacant landlord. See if those landlords are willing to sell. If they are, great! If they’re not, then try to see if they’re interested in becoming a cash buyer. Take notes from them on where they would prefer their properties to be, and boom. You just got another buyer to add to your list! 3 - Get with a realtor and have them run all of the cash deals that have been done in a certain market. From that list, look for the address and names of the buyer on the title and add them to your direct mail list. By doing this, you can see what they’re willing to buy for, and how active they are in purchasing for cash. The bigger the buyers list, the better. 600 or more is preferable for such a large market like Salt Lake City. If you can get 20 people to inspect a home at the same time, you’ve just build up a feeding frenzy. Making scarcity and providing competition drives up your properties prices, which makes your profit even better. You want people to pay top dollar for your deals. Because Cody markets the contract and not the property, he sends out a suggested price for the house in the promotional material material. That way, you can use that as a negotiation point to drive your profit. Cody does anywhere from 7 - 10 deals a month, and every time there are always multiple buyers interested. Even though the market has been competitive, Cody is still bringing in a great flow of business! A question Cody gets asked a lot is “Why don’t you just keep the properties to fix and flip?” The answer is simple:   If Cody can focus on one thing really well, and continue to do it really well, then why not keep doing that? With house flippers, you have to focus on so many things. You have to deal with contractors, title companies, realtors, all of that. When you’re wholesaling, you don’t have to. “I’m in and out quick,” Cody said. When it comes to marketing, it’s about 3 things. The right thing, to the right person, at the right time. In his first year, Cody had a budget of $1200 for marketing with direct mail. He was told to get uncomfortable because that’s where the profit comes from. At day 44 in his mentoring program, his first deal landed him $24,000.   That covered the course, the marketing, and still had a lot left over. So now, Cody puts aside 50% of his profit toward marketing so that he can continue to grow his business. Over all, marketing is expensive. It needs to be. But you have to hit a lot of people or else you won’t hear back. $1200 is a great starting point, but you need to keep your marketing budget up to make sure you’re marketing the right way.

Just a few years ago, Cody was selling insurance and didn’t know much about Real Estate. He heard about a little niche known as “Wholesaling” and got interested. He quickly decided to go “All in” on Wholesaling and generated over $500,000 in his first year and has since created a 7 figure Wholesaling business. After going to a seminar in Utah, Cody jumped in to wholesaling. He took on what advice he was given and found a mentor. In 2015, Cody started listening to every real estate investing podcast he could find and that was it. He found a mentor and got in to wholesaling as fast as he could! Wholesaling appealed to Cody because it was a great start. “I started with the end in mind,” he says. “You’ve got to build a cash buyers list. If you don’t have an end game in mind, it doesn’t matter because you can’t do anything with it.” Building cash buyers is simple. There are a few ways to find them: 1 - Go to REIA meetings in your local town. 2 - Get on the phone on Craigslist. Call land lords or people trying to sell their rentals, they’re always interested in listening to what a wholesaler has to say. You want to look at a vacant landlord. See if those landlords are willing to sell. If they are, great! If they’re not, then try to see if they’re interested in becoming a cash buyer. Take notes from them on where they would prefer their properties to be, and boom. You just got another buyer to add to your list! 3 - Get with a realtor and have them run all of the cash deals that have been done in a certain market. From that list, look for the address and names of the buyer on the title and add them to your direct mail list. By doing this, you can see what they’re willing to buy for, and how active they are in purchasing for cash. The bigger the buyers list, the better. 600 or more is preferable for such a large market like Salt Lake City. If you can get 20 people to inspect a home at the same time, you’ve just build up a feeding frenzy. Making scarcity and providing competition drives up your properties prices, which makes your profit even better. You want people to pay top dollar for your deals. Because Cody markets the contract and not the property, he sends out a suggested price for the house in the promotional material material. That way, you can use that as a negotiation point to drive your profit. Cody does anywhere from 7 - 10 deals a month, and every time there are always multiple buyers interested. Even though the market has been competitive, Cody is still bringing in a great flow of business! A question Cody gets asked a lot is “Why don’t you just keep the properties to fix and flip?” The answer is simple:   If Cody can focus on one thing really well, and continue to do it really well, then why not keep doing that? With house flippers, you have to focus on so many things. You have to deal with contractors, title companies, realtors, all of that. When you’re wholesaling, you don’t have to. “I’m in and out quick,” Cody said. When it comes to marketing, it’s about 3 things. The right thing, to the right person, at the right time. In his first year, Cody had a budget of $1200 for marketing with direct mail. He was told to get uncomfortable because that’s where the profit comes from. At day 44 in his mentoring program, his first deal landed him $24,000.   That covered the course, the marketing, and still had a lot left over. So now, Cody puts aside 50% of his profit toward marketing so that he can continue to grow his business. Over all, marketing is expensive. It needs to be. But you have to hit a lot of people or else you won’t hear back. $1200 is a great starting point, but you need to keep your marketing budget up to make sure you’re marketing the right way.

80: [Wholesaling] How Cody Made $500k Wholesaling His First Year

This week Danny is joined by Doug Watts Jr, a new investor born and raised in Austin, Texas. His story starts out as a commercial general contractor where he stayed for 10 years as a field engineer and later superintendent. Like many of us, he was drawn in by the freedom that real estate investing can give you and he dove straight into educating himself and taking action to get started! Doug actually completed 2 flips while working full time, making a profit of $63,000 on the first and $109,000 on the second. Just 6 months ago, he decided to take his investing business full-time, and has since listed 2 houses for sale that he flipped (that’s a projected profit of $50,000 in his first 6 months working for himself. In this episode, Doug also shares a cautionary tale of sorts that anyone should be looking out for, about the importance of making sure that every box is checked when it comes to your business. While Doug may not be your typical, “House Flipping Guru,” he is determined to make it happen for him and his family and his resilience is something to be admired. His open-book take on both his successes and his mistakes allows us to see what a new investor actually looks like, as well as take a look at the internal struggle of being afraid to lose all of your money, but also knowing that it takes spending money to make money.

This week Danny is joined by Doug Watts Jr, a new investor born and raised in Austin, Texas. His story starts out as a commercial general contractor where he stayed for 10 years as a field engineer and later superintendent. Like many of us, he was drawn in by the freedom that real estate investing can give you and he dove straight into educating himself and taking action to get started! Doug actually completed 2 flips while working full time, making a profit of $63,000 on the first and $109,000 on the second. Just 6 months ago, he decided to take his investing business full-time, and has since listed 2 houses for sale that he flipped (that’s a projected profit of $50,000 in his first 6 months working for himself. In this episode, Doug also shares a cautionary tale of sorts that anyone should be looking out for, about the importance of making sure that every box is checked when it comes to your business. While Doug may not be your typical, “House Flipping Guru,” he is determined to make it happen for him and his family and his resilience is something to be admired. His open-book take on both his successes and his mistakes allows us to see what a new investor actually looks like, as well as take a look at the internal struggle of being afraid to lose all of your money, but also knowing that it takes spending money to make money.

137: 6 Months Into Full Time Investing with Doug Watts Jr

Jim Huntzicker

Get show notes at http://flippingjunkie.com/47   Jim has been a real estate investor in Northern Illinois since 2007, He is also a licensed real estate agent (IL) and has been since 2005. He started out as an aggressive new agent helping investors buy and sell their rehab properties. Then he quickly realized he was on the wrong side of that transaction and that is when he decided to become a real estate investor myself. These days his primary focus as an investor is residential redevelopment (aka rehabbing).  He primarily works in Chicago and its NW suburbs and had used his local Multiple Listing Service (MLS) to get 75% of his rehab deals over the last 8 years. Since he got into the real estate business he has been involved in over 450 transactions.His company does 8-10 rehabs at any one time. Though Jim is an active investor he spends as much of his time as possible with his 4 year old twins, Liam &amp; Claire, and his awesome wife who stays home with them. He told us "Everything changed when I had kids. Suddenly I looked at everything differently and literally changed almost everything in my life. I got healthy, quit drinking, lost 50lbs and have never looked back. Life is much more enjoyable on this side of your health". Jim’s secret to getting great deals on the MLS starts with planting the right seeds with the real estate agents involved.  Effective communication is absolutely necessary. You have to convince the listing agent so that they will convince the seller that your offer is worth considering and ultimately worth accepting. Jim has bought tons of houses where his offer wasn’t the highest but he convinced the agents that his was the best offer.  To make his offers more appealing he does the following: 1. Waives the inspection 2. Informs the agent that other investors and potential buyers include inspections because they will likely renegotiate after the inspection. 3. If not a bank-owned property, he tells the listing agent to inform the seller that, when he through fixing up the house, most of his houses are sold to young families. 4. He puts up a strong earnest money deposit (around $5,000 for a house with an ARV between $400k and $500k). 5. He puts in for a 2 week closing. Agents hardly ever know what a seller is going to be willing to take for their house.  They all have assumptions and we know what assumptions do… So, don’t ever rely on a listing agent telling you their client will never entertain a low offer.  This is crap.  They are obligated to submit all offers, so go ahead and submit yours and try to convince the agent of the real benefits of your offer (not just price). Jim also mentioned that 90% of his MLS deals required follow up.  He usually does this using hotsheets to automatically check for status changes for the listings.  If you want to win even more deals, it’s best to have a system in place to remind you to follow up just before typical price changes.  There’s no way to guarantee when there will be a price change but you can set up reminders for yourself for each property very easily in REImobile so that you can set it and forget it. The criteria for properties he makes offers on are usually based on location but also the presence of one of the following keywords: estate sale, REO, bank-owned, motivated, needs work, original owner, handyman special, as-is, fixer

Get show notes at <a href="http://flippingjunkie.com/47" rel="nofollow" target="_blank">http://flippingjunkie.com/47</a> Jim has been a real estate investor in Northern Illinois since 2007, He is also a licensed real estate agent (IL) and has been since 2005. He started out as an aggressive new agent helping investors buy and sell their rehab properties. Then he quickly realized he was on the wrong side of that transaction and that is when he decided to become a real estate investor myself. These days his primary focus as an investor is residential redevelopment (aka rehabbing).  He primarily works in Chicago and its NW suburbs and had used his local Multiple Listing Service (MLS) to get 75% of his rehab deals over the last 8 years. Since he got into the real estate business he has been involved in over 450 transactions.His company does 8-10 rehabs at any one time. Though Jim is an active investor he spends as much of his time as possible with his 4 year old twins, Liam &amp; Claire, and his awesome wife who stays home with them. He told us "Everything changed when I had kids. Suddenly I looked at everything differently and literally changed almost everything in my life. I got healthy, quit drinking, lost 50lbs and have never looked back. Life is much more enjoyable on this side of your health". Jim’s secret to getting great deals on the MLS starts with planting the right seeds with the real estate agents involved.  Effective communication is absolutely necessary. You have to convince the listing agent so that they will convince the seller that your offer is worth considering and ultimately worth accepting. Jim has bought tons of houses where his offer wasn’t the highest but he convinced the agents that his was the best offer.  To make his offers more appealing he does the following: 1. Waives the inspection 2. Informs the agent that other investors and potential buyers include inspections because they will likely renegotiate after the inspection. 3. If not a bank-owned property, he tells the listing agent to inform the seller that, when he through fixing up the house, most of his houses are sold to young families. 4. He puts up a strong earnest money deposit (around $5,000 for a house with an ARV between $400k and $500k). 5. He puts in for a 2 week closing. Agents hardly ever know what a seller is going to be willing to take for their house.  They all have assumptions and we know what assumptions do… So, don’t ever rely on a listing agent telling you their client will never entertain a low offer.  This is crap.  They are obligated to submit all offers, so go ahead and submit yours and try to convince the agent of the real benefits of your offer (not just price). Jim also mentioned that 90% of his MLS deals required follow up.  He usually does this using hotsheets to automatically check for status changes for the listings.  If you want to win even more deals, it’s best to have a system in place to remind you to follow up just before typical price changes.  There’s no way to guarantee when there will be a price change but you can set up reminders for yourself for each property very easily in REImobile so that you can set it and forget it. The criteria for properties he makes offers on are usually based on location but also the presence of one of the following keywords: estate sale, REO, bank-owned, motivated, needs work, original owner, handyman special, as-is, fixer

47: [Marketing] How to Beat the Competition for Great Deals on the MLS w/Jim Huntzicker

Melissa Johnson

Melissa Johnson has been flipping houses for 14 years, and man have they come a long way. From brown (and one time green) carpet to sleek new tile, Melissa has been transforming the way she rehabs properties. But before you can make the houses look nicer, you have to have your team together. Start with a contractor you can trust. Melissa has been working with her contractor for a long time now, to the point where they have an amazing working relationship. One of the key point of making sure you and your contractor are on the same page is to set the ground rules from the beginning. Making sure you and your contractor have the same payment schedule agreed on will keep everyone involved happy. Melissa talks about going through the property with the contractors before hand and looking at every single detail of the house. That way, everyone is on the same page for what needs to be fixed. There’s much more to your team than just you and the contractor, though. Melissa has been working with a realtor she trusts, and has become great friends with. It’s so important to work with people who are great at their jobs, and who are there for you. For example, there was an issue with some buyers not being able to qualify for the property they wanted to buy and, instead of just closing out the deal, Melissa’s realtor fought and negotiated until all parties were happy. Having a realtor who will work with you, and also your buyers, is great for having your properties sold quickly. All in all, Melissa has been working hard at showing what an amazing Flip Pilot she is. If you want to network with other Flip Pilots, join our closed FaceBook group by going to FlipPilot.com here: https://flippilot.com/beta-notify

Melissa Johnson has been flipping houses for 14 years, and man have they come a long way. From brown (and one time green) carpet to sleek new tile, Melissa has been transforming the way she rehabs properties. But before you can make the houses look nicer, you have to have your team together. Start with a contractor you can trust. Melissa has been working with her contractor for a long time now, to the point where they have an amazing working relationship. One of the key point of making sure you and your contractor are on the same page is to set the ground rules from the beginning. Making sure you and your contractor have the same payment schedule agreed on will keep everyone involved happy. Melissa talks about going through the property with the contractors before hand and looking at every single detail of the house. That way, everyone is on the same page for what needs to be fixed. There’s much more to your team than just you and the contractor, though. Melissa has been working with a realtor she trusts, and has become great friends with. It’s so important to work with people who are great at their jobs, and who are there for you. For example, there was an issue with some buyers not being able to qualify for the property they wanted to buy and, instead of just closing out the deal, Melissa’s realtor fought and negotiated until all parties were happy. Having a realtor who will work with you, and also your buyers, is great for having your properties sold quickly. All in all, Melissa has been working hard at showing what an amazing Flip Pilot she is. If you want to network with other Flip Pilots, join our closed FaceBook group by going to <a href="http://FlipPilot.com" rel="nofollow" target="_blank">FlipPilot.com</a> here: <a href="https://flippilot.com/beta-notify" rel="nofollow" target="_blank">https://flippilot.com/beta-notify</a>

76: [Rehabbing]  Running Rehabs with Melissa Johnson

This is a very special episode of the podcast with guest Anabella, our youngest guest ever! Annabella is a big fan of the podcast and when Danny ran into her mother around the neighborhood, he knew he had to bring her on. In this episode she stops by to switch things up and interview Danny with some great, thoughtful questions that will be especially helpful to any newbies out there looking to gather the basics. We’re talking about how to be successful, how to find a mentor, the most effective way to get deals for your business, and so much more!

This is a very special episode of the podcast with guest Anabella, our youngest guest ever! Annabella is a big fan of the podcast and when Danny ran into her mother around the neighborhood, he knew he had to bring her on. In this episode she stops by to switch things up and interview Danny with some great, thoughtful questions that will be especially helpful to any newbies out there looking to gather the basics. We’re talking about how to be successful, how to find a mentor, the most effective way to get deals for your business, and so much more!

155: Back to Real Estate Investing Basics with Anabella

Melissa Johnson has been on the Flipping Junkie Podcast multiple times (she and Danny run the business together and are married, so it goes without saying she’s an important member of the REI community). She runs the house flipping side of their business and does a great job doing it! After years of running their real estate investing business, Melissa made the decision to cut out direct mail marketing at the start of 2018. Their yearly goal was to stop direct mail marketing all together. But why?? Hasn’t direct mail been working for so many investors? The truth is…direct mail is dead. Real estate investing direct mail marketing has been declining for years, so much so that Melissa said it’s time to stop. In it’s place, Danny and Melissa are going to be focusing on online lead generation. Melissa didn’t make the decision to cut out direct mail overnight, though. At the beginning of 2017 she had noticed that their direct mail wasn’t consistent and wasn’t performing well. Instead of cutting it off then, she decided to go all in and get that marketing strategy back up and running. “We started a bunch of mailing campaigns and the year went on, and we were getting some deals, but it wasn’t performing the way I hoped it would when I looked at what we were spending on it,” Melissa tells. “I started looking at the numbers half way through the year and was pretty disappointed.” Melissa’s direct mail plan started by mailing to high equity for most of the year, then they started adding in unknown equity. The unknown equity didn’t produce any leads at all, so they quickly stopped that campaign. “We had about 30k addresses in our mailing list, based on our criteria,” Melissa explains, “We were had them separated by zip codes so that it wouldn’t be so much at one time. Every mailing was between $2400 - $2500 per week.” The criteria for the high equity lists was anything under $250k with more than 50% equity, at people over age 40. The criteria for the unknown equity lists was just not stated how much equity the homeowners had. The equity could be unknown, unstated, they could have some, they could have none; it just means that the equity field wasn’t filled in. This list did not produce leads, so Melissa stopped that campaign. “About half way through the year I took a look at the numbers,” Melissa says, “In September I said ‘look we’ve been spending a lot of money on this and it’s not getting us leads. We need to stop what we’re doing and reevaluate all of it’.” The mailing lists were the same addresses, but it was all sent in a cycle. Each address would get a piece of mail from them every 4 - 6 weeks. With 30,000 addresses, that adds up. Once Melissa looked deeper into the process and the direct mail findings, she learned that direct mail just isn’t enough to keep a business at this scale going. There’s a huge difference between a high quality lead and just another throw-away lead. Melissa sat down and took about 8 hours just looking over every single lead from 2017 to see which ones were high quality and which ones weren’t. She read all of the notes on every property to see where that lead went, how far it got, and if it turned into a deal or not. And if it did turn into a deal, how profitable was the deal? Overall, Melissa found that the cost of direct mail wasn’t worth the kinds of leads that they were getting. Their higher quality leads were coming from online marketing strategies and their website. The leads that came in through direct mail either weren’t quality leads or weren’t leads that converted to deals. So when the question is asked: is direct mail dead? Melissa’s answer is, “For us, direct mail died about a year ago. We dropped it and moved to online lead generation.”

Melissa Johnson has been on the Flipping Junkie Podcast multiple times (she and Danny run the business together and are married, so it goes without saying she’s an important member of the REI community). She runs the house flipping side of their business and does a great job doing it! After years of running their real estate investing business, Melissa made the decision to cut out direct mail marketing at the start of 2018. Their yearly goal was to stop direct mail marketing all together. But why?? Hasn’t direct mail been working for so many investors? The truth is…direct mail is dead. Real estate investing direct mail marketing has been declining for years, so much so that Melissa said it’s time to stop. In it’s place, Danny and Melissa are going to be focusing on online lead generation. Melissa didn’t make the decision to cut out direct mail overnight, though. At the beginning of 2017 she had noticed that their direct mail wasn’t consistent and wasn’t performing well. Instead of cutting it off then, she decided to go all in and get that marketing strategy back up and running. “We started a bunch of mailing campaigns and the year went on, and we were getting some deals, but it wasn’t performing the way I hoped it would when I looked at what we were spending on it,” Melissa tells. “I started looking at the numbers half way through the year and was pretty disappointed.” Melissa’s direct mail plan started by mailing to high equity for most of the year, then they started adding in unknown equity. The unknown equity didn’t produce any leads at all, so they quickly stopped that campaign. “We had about 30k addresses in our mailing list, based on our criteria,” Melissa explains, “We were had them separated by zip codes so that it wouldn’t be so much at one time. Every mailing was between $2400 - $2500 per week.” The criteria for the high equity lists was anything under $250k with more than 50% equity, at people over age 40. The criteria for the unknown equity lists was just not stated how much equity the homeowners had. The equity could be unknown, unstated, they could have some, they could have none; it just means that the equity field wasn’t filled in. This list did not produce leads, so Melissa stopped that campaign. “About half way through the year I took a look at the numbers,” Melissa says, “In September I said ‘look we’ve been spending a lot of money on this and it’s not getting us leads. We need to stop what we’re doing and reevaluate all of it’.” The mailing lists were the same addresses, but it was all sent in a cycle. Each address would get a piece of mail from them every 4 - 6 weeks. With 30,000 addresses, that adds up. Once Melissa looked deeper into the process and the direct mail findings, she learned that direct mail just isn’t enough to keep a business at this scale going. There’s a huge difference between a high quality lead and just another throw-away lead. Melissa sat down and took about 8 hours just looking over every single lead from 2017 to see which ones were high quality and which ones weren’t. She read all of the notes on every property to see where that lead went, how far it got, and if it turned into a deal or not. And if it did turn into a deal, how profitable was the deal? Overall, Melissa found that the cost of direct mail wasn’t worth the kinds of leads that they were getting. Their higher quality leads were coming from online marketing strategies and their website. The leads that came in through direct mail either weren’t quality leads or weren’t leads that converted to deals. So when the question is asked: is direct mail dead? Melissa’s answer is, “For us, direct mail died about a year ago. We dropped it and moved to online lead generation.”

107: [Marketing] Direct Mail Is Dead? with Melissa Johnson

Danny Johnson

Danny Johnson is the host of the Flipping Junkie podcast and today he shares with us incredible tips for driving for dollars in a world where technology has made things so much easier.   In this episode, we discuss:   What driving for dollars is When to drive for dollars Where to drive for dollars How to drive for dollars What to do after you get the addresses Common questions about driving for dollars How to outsource driving for dollars   Check out the show notes page at http://flippingjunkie.com/43 to download a pdf of all the points talked about in this episode so that you have a roadmap for driving for dollars more efficiently.

Danny Johnson is the host of the Flipping Junkie podcast and today he shares with us incredible tips for driving for dollars in a world where technology has made things so much easier. In this episode, we discuss: What driving for dollars is When to drive for dollars Where to drive for dollars How to drive for dollars What to do after you get the addresses Common questions about driving for dollars How to outsource driving for dollars Check out the show notes page at <a href="http://flippingjunkie.com/43" rel="nofollow" target="_blank">http://flippingjunkie.com/43</a> to download a pdf of all the points talked about in this episode so that you have a roadmap for driving for dollars more efficiently.

43: [Marketing] Driving For Dollars in 2016 w/Danny Johnson

Chris Jameson

Chris Jameson started investing in the San Antonio real estate market in 2011 and soon after entered the private financing market. He has facilitated over $60M in loans and acquired over 60 units for his personal portfolio.   In this episode, Chris and I talk about the ins and outs of hard money loans and how to work with hard money lenders.    One of the biggest benefits for new investors is that hard money lenders can help keep you out of trouble.  They usually won’t lend if the deals isn’t likely to make you money.    There are some hard money lenders that Chris calls “Loan To Own”.  These lenders are more interested in creating the loan with the intention of getting the house from you when you default on the loan… usually after it’s already partially or mostly rehabbed!   Check out the show notes page at http://flippingjunkie.com/37 to download Chris’s hard money lender checklist, hard money lending exposed pdf, repair estimates guide and his contact information.   In this episode we answer all of the following questions and more.   What exactly is a hard money lender?  Why are they better than getting traditional financing? What characterizes a “good” hard money lender? What is typically required from a borrower for a loan? What kinds of deals and/or how do you analyze whether you will lend on a given deal? What is the process from start to finish for someone wanting to get a loan for the first time? You guys loan throughout Texas right?  For people outside of Texas, how would you suggest they find a “good” lender? Do you have any interesting stories about deals or borrowers that you wouldn’t mind sharing?

Chris Jameson started investing in the San Antonio real estate market in 2011 and soon after entered the private financing market. He has facilitated over $60M in loans and acquired over 60 units for his personal portfolio. In this episode, Chris and I talk about the ins and outs of hard money loans and how to work with hard money lenders.  One of the biggest benefits for new investors is that hard money lenders can help keep you out of trouble.  They usually won’t lend if the deals isn’t likely to make you money.  There are some hard money lenders that Chris calls “Loan To Own”.  These lenders are more interested in creating the loan with the intention of getting the house from you when you default on the loan… usually after it’s already partially or mostly rehabbed! Check out the show notes page at <a href="http://flippingjunkie.com/37" rel="nofollow" target="_blank">http://flippingjunkie.com/37</a> to download Chris’s hard money lender checklist, hard money lending exposed pdf, repair estimates guide and his contact information. In this episode we answer all of the following questions and more. What exactly is a hard money lender?  Why are they better than getting traditional financing? What characterizes a “good” hard money lender? What is typically required from a borrower for a loan? What kinds of deals and/or how do you analyze whether you will lend on a given deal? What is the process from start to finish for someone wanting to get a loan for the first time? You guys loan throughout Texas right?  For people outside of Texas, how would you suggest they find a “good” lender? Do you have any interesting stories about deals or borrowers that you wouldn’t mind sharing?

37: [Funding] Hard Money Lenders - What You Need To Know w/Chris Jameson

Steve is the author and founder of Lifeonaire.  Teaching thousands of people how to live and experience abundant lives.  He has flipped over 500 houses in his investing career and helps investors to transform their businesses from life sucking to life giving ventures. As a teenager, Steve was building his own businesses. At the age of 21, Steve bought a restaurant and bar as his first real estate investment. Without going into detail, it didn’t end up being a long-term success. But he was able to get started in this highly competitive industry at a young age and set a great foundation for his future! When Steve turned 25 he bought another bar that ended up working much better for him. He used creative real estate investing techniques to get it. Once the bar was his, he thought he would be on easy street raking in the wealth. It should come as no surprise to anyone who’s run a business that what he thought was not the case. “Turns out,” Steve says, “all I did was buy myself two jobs. I was lucky if I could pay myself for one!” When the second bar went under, Steve found himself deep in debt with terrible credit. Not knowing what to do, he started working a day job with a steady paycheck. While getting paid for his work felt good, having someone working over him did not. “When someone else was dictating my life, that entrepreneurial spirit was starting to fire up again,” Steve mentions. That was when he made the decision to becoming a successful real estate investor. However, Steve barely had an income, was deep in debt, and terrible credit. What was he going to do? With everything going against him, Steve started doing his homework. He studied successful methods and researched different types of investing. Wholesaling appealed to Steve because you didn’t need good credit to start, you didn’t need a lot of money, and you didn’t need the means to flip a house. It took him about 8 months to get his first deal closed, but he didn’t give up. That first deal was it for Steve. Real estate investing is mostly a mind game, and he understood that now. When the first deal was closed, Steve started getting offers within the first 48 hours. The man he ended up selling to took him on as an acquisitions manager, finding 7 houses in 6 weeks for his new partner. Steve came back with an eighth property that got rejected. Instead of letting it go, Steve flipped that property to someone else and made a profit off of it himself. When he made the full profit from that sale, Steve knew what he was going to do with the rest of his life. He was going to become a successful real estate investor. In his first 2 years of real estate investing, Steve flipped 105 houses! At the end of the day, taking action is about being motivated. Steve was motivated to reach financial freedom, he never stopped, and he made it happen. There’s nothing more important in real estate investing than that. After 2 years, Steve realized that working with a partner wasn’t for him. In Jan 2001, he made $40,000 with his partner. “At that time I only needed $25,000 to get by,” Steve explains, “My lifestyle was very lean.” When he began working on his own, Steve easily made more than that in the first few months. One month made $60,000, then the next month he made $70,000. He didn’t know what to do with all of this money, so he decided to give back. Steve found people in the community who offered to help him organize his income to live comfortably and to give back. Since he was making a great living now, they suggested for him to buy his own home. Steve bought a 5 bedroom, 4.5 bath house on a 5 acre lot in Baltimore as a single guy in his mid to late twenties. That’s amazing! After that, Steve put together his rental portfolio, bought himself a vacation home, and went from having zero assets to over 7 million dollars in assets in just 3 short years. Seeing his success, Steve started getting people coming to him for training. People were flying across the country to be coached by Steve. “In the back of my mind,” he tells, “I’m thinking ‘they don’t really want what I’ve got’. I don’t feel successful yet.” Realizing he was happier before getting all of his properties and assets and worth, Steve was at a loss. He finally figured out that, although he had all of these things now, he didn’t have a life. Real estate investing is time consuming. Steve quickly saw that he was spending all of his time running his real estate investing business and not doing much else for himself. One week there were 2 gentlemen who approached Steve asking him to teach them how to become a millionaire. He responded simply with, “Why do you want to be a millionaire?” To which both men replied: “So I can be a better father and husband.” Steve told them a piece of great advice. He said, “You don’t need to be a millionaire to be a good father or husband. That’s done in the choices you make. Do the things that good fathers and husbands do, and you’ll be that.” Needless to say, they didn’t like that answer. Steve was contemplating why these men thought they needed to be millionaires to be good people and heard the word “Lifeionaire” come to him. That’s what those men wanted to be, not millionaires. They wanted to experience an abundant life and they believed that money would get them there. Money is just a vehicle. Having lots of money wasn’t the goal, having a great life is. Once Steve understood that, he was able to become a successful Lifeionaire, instead of just a real estate investor.

Steve is the author and founder of Lifeonaire.  Teaching thousands of people how to live and experience abundant lives.  He has flipped over 500 houses in his investing career and helps investors to transform their businesses from life sucking to life giving ventures. As a teenager, Steve was building his own businesses. At the age of 21, Steve bought a restaurant and bar as his first real estate investment. Without going into detail, it didn’t end up being a long-term success. But he was able to get started in this highly competitive industry at a young age and set a great foundation for his future! When Steve turned 25 he bought another bar that ended up working much better for him. He used creative real estate investing techniques to get it. Once the bar was his, he thought he would be on easy street raking in the wealth. It should come as no surprise to anyone who’s run a business that what he thought was not the case. “Turns out,” Steve says, “all I did was buy myself two jobs. I was lucky if I could pay myself for one!” When the second bar went under, Steve found himself deep in debt with terrible credit. Not knowing what to do, he started working a day job with a steady paycheck. While getting paid for his work felt good, having someone working over him did not. “When someone else was dictating my life, that entrepreneurial spirit was starting to fire up again,” Steve mentions. That was when he made the decision to becoming a successful real estate investor. However, Steve barely had an income, was deep in debt, and terrible credit. What was he going to do? With everything going against him, Steve started doing his homework. He studied successful methods and researched different types of investing. Wholesaling appealed to Steve because you didn’t need good credit to start, you didn’t need a lot of money, and you didn’t need the means to flip a house. It took him about 8 months to get his first deal closed, but he didn’t give up. That first deal was it for Steve. Real estate investing is mostly a mind game, and he understood that now. When the first deal was closed, Steve started getting offers within the first 48 hours. The man he ended up selling to took him on as an acquisitions manager, finding 7 houses in 6 weeks for his new partner. Steve came back with an eighth property that got rejected. Instead of letting it go, Steve flipped that property to someone else and made a profit off of it himself. When he made the full profit from that sale, Steve knew what he was going to do with the rest of his life. He was going to become a successful real estate investor. In his first 2 years of real estate investing, Steve flipped 105 houses! At the end of the day, taking action is about being motivated. Steve was motivated to reach financial freedom, he never stopped, and he made it happen. There’s nothing more important in real estate investing than that. After 2 years, Steve realized that working with a partner wasn’t for him. In Jan 2001, he made $40,000 with his partner. “At that time I only needed $25,000 to get by,” Steve explains, “My lifestyle was very lean.” When he began working on his own, Steve easily made more than that in the first few months. One month made $60,000, then the next month he made $70,000. He didn’t know what to do with all of this money, so he decided to give back. Steve found people in the community who offered to help him organize his income to live comfortably and to give back. Since he was making a great living now, they suggested for him to buy his own home. Steve bought a 5 bedroom, 4.5 bath house on a 5 acre lot in Baltimore as a single guy in his mid to late twenties. That’s amazing! After that, Steve put together his rental portfolio, bought himself a vacation home, and went from having zero assets to over 7 million dollars in assets in just 3 short years. Seeing his success, Steve started getting people coming to him for training. People were flying across the country to be coached by Steve. “In the back of my mind,” he tells, “I’m thinking ‘they don’t really want what I’ve got’. I don’t feel successful yet.” Realizing he was happier before getting all of his properties and assets and worth, Steve was at a loss. He finally figured out that, although he had all of these things now, he didn’t have a life. Real estate investing is time consuming. Steve quickly saw that he was spending all of his time running his real estate investing business and not doing much else for himself. One week there were 2 gentlemen who approached Steve asking him to teach them how to become a millionaire. He responded simply with, “Why do you want to be a millionaire?” To which both men replied: “So I can be a better father and husband.” Steve told them a piece of great advice. He said, “You don’t need to be a millionaire to be a good father or husband. That’s done in the choices you make. Do the things that good fathers and husbands do, and you’ll be that.” Needless to say, they didn’t like that answer. Steve was contemplating why these men thought they needed to be millionaires to be good people and heard the word “Lifeionaire” come to him. That’s what those men wanted to be, not millionaires. They wanted to experience an abundant life and they believed that money would get them there. Money is just a vehicle. Having lots of money wasn’t the goal, having a great life is. Once Steve understood that, he was able to become a successful Lifeionaire, instead of just a real estate investor.

97: [LIFE] Flipping and Life Mentor

Joe Spence

Joe Spence is an investor from Lancaster, Pennsylvania, whose journey began after he was laid off from his sales job in early 2016. It had always been his and his wife Sarah’s dream to become real estate investors, and this quick turn of events made them ask, “Do I really want to go back to a 9 to 5?” With a baby on the way Joe knew he had to do something, and there was no better time than the present to take action and make it happen. Joe began by calling anyone and everyone he knew in real estate, asking if there was possibly anything for him. Within a week and a half he had his first deal from someone who knew someone who knew someone, and so on. He shares that his first time walking through the house calculating costs to make an offer, he had almost no clue what he was doing. He was familiar with the formulas because he had educated himself with books and podcasts, but he says that “there’s no substitute for the real thing.” Joe and Danny also discuss contractors, and the importance of checking up on the progress when you’re rehabbing houses. Joe talks about the many lessons he’s learned along the way in regards to trusting and overseeing those carrying out his flips. He says that at first, it was intimidating to ask contractors what was going on in the rehabs out of fear of sounding uneducated or unqualified. Once he was able to get past this fear and speak openly with the contractor about what was going on in the project, he says that their relationship only grew stronger and now there is a mutual trust and respect between the two throughout the process. In the beginning of 2018 he turned his business more towards wholesaling rather than rehabbing houses. When asked if it can be difficult sometimes to walk away from a bigger check by deciding to wholesale instead of rehab it yourself. “I’m not afraid to leave a little meat on the bones for the next guy,” says Joe. He gives a lot of credit to those who helped him in the beginning of his journey, and he hopes to be able to help others in the same way.

Joe Spence is an investor from Lancaster, Pennsylvania, whose journey began after he was laid off from his sales job in early 2016. It had always been his and his wife Sarah’s dream to become real estate investors, and this quick turn of events made them ask, “Do I really want to go back to a 9 to 5?” With a baby on the way Joe knew he had to do something, and there was no better time than the present to take action and make it happen. Joe began by calling anyone and everyone he knew in real estate, asking if there was possibly anything for him. Within a week and a half he had his first deal from someone who knew someone who knew someone, and so on. He shares that his first time walking through the house calculating costs to make an offer, he had almost no clue what he was doing. He was familiar with the formulas because he had educated himself with books and podcasts, but he says that “there’s no substitute for the real thing.” Joe and Danny also discuss contractors, and the importance of checking up on the progress when you’re rehabbing houses. Joe talks about the many lessons he’s learned along the way in regards to trusting and overseeing those carrying out his flips. He says that at first, it was intimidating to ask contractors what was going on in the rehabs out of fear of sounding uneducated or unqualified. Once he was able to get past this fear and speak openly with the contractor about what was going on in the project, he says that their relationship only grew stronger and now there is a mutual trust and respect between the two throughout the process. In the beginning of 2018 he turned his business more towards wholesaling rather than rehabbing houses. When asked if it can be difficult sometimes to walk away from a bigger check by deciding to wholesale instead of rehab it yourself. “I’m not afraid to leave a little meat on the bones for the next guy,” says Joe. He gives a lot of credit to those who helped him in the beginning of his journey, and he hopes to be able to help others in the same way.

131: Fast Success as a Rehabber with Joe Spence 131: Fast Success as a Rehabber with Joe Spence 131: Fast Success as a Rehabber with Joe Spence

Josh McRay

Welcome to part 1 of our mini series all about Google advertising and our in-house managed services provider, LeadPropeller Fuel! This series is all about how to use Google to help your business bring in more leads as well as how to turn those leads into deals. Please send any questions you have to @LeadPropeller on Twitter or to josh@leadpropeller.com and we promise to answer them before we get to the end of the series.

Welcome to part 1 of our mini series all about Google advertising and our in-house managed services provider, LeadPropeller Fuel! This series is all about how to use Google to help your business bring in more leads as well as how to turn those leads into deals. Please send any questions you have to @LeadPropeller on Twitter or to josh@leadpropeller.com and we promise to answer them before we get to the end of the series.

150: Leads to Deals in 30 Days using Google with Josh McRay

Brett Snodgrass

Show notes can be found at http://flippingjunkie.com/53 Brett Snodgrass is an awesome real estate investor in Indianapolis, IN.  He’s been a full time real estate wholesaler for about 10 years now, and it has been an incredible business that God has used to provide for him and his family. He’s a simple guy, He loves taking his little beater-boat out on the lake, spending time with his wife and kids and enjoying the relationships he has around him. Today, Brett shared with us his direct mail strategy where he sends out over 20,000 pieces per month and landing roughly 10 deals.  What I enjoyed was the discussion on getting leads from HUD.  HUD stands for Housing and Urban Development and they are responsible for selling off FHA foreclosures.  HUD sells there homes auction style through the HUD Home Store (hudhomestore.com).  You can bid on these houses and land some awesome deals. Brett shares with us his exact system for making offers on these HUD houses.  I especially like how he describes his filtering process to make sure that he’s not wasting his time.  This is information that took him months to determine and we get to listen in and save all that time and effort. Brett knows how to buy houses from HUD, HUD foreclosures.  His system for buying they HUD homes is awesome, from offering 25% of list price and just fishing for counters to knowing when they are more likely to accept an offer, it’s all here in this episode. Learn how to buy houses from HUD with this episode where I interview Brett Snodgrass. 

Show notes can be found at <a href="http://flippingjunkie.com/53" rel="nofollow" target="_blank">http://flippingjunkie.com/53</a> Brett Snodgrass is an awesome real estate investor in Indianapolis, IN.  He’s been a full time real estate wholesaler for about 10 years now, and it has been an incredible business that God has used to provide for him and his family. He’s a simple guy, He loves taking his little beater-boat out on the lake, spending time with his wife and kids and enjoying the relationships he has around him. Today, Brett shared with us his direct mail strategy where he sends out over 20,000 pieces per month and landing roughly 10 deals.  What I enjoyed was the discussion on getting leads from HUD.  HUD stands for Housing and Urban Development and they are responsible for selling off FHA foreclosures.  HUD sells there homes auction style through the HUD Home Store (<a href="http://hudhomestore.com" rel="nofollow" target="_blank">hudhomestore.com</a>).  You can bid on these houses and land some awesome deals. Brett shares with us his exact system for making offers on these HUD houses.  I especially like how he describes his filtering process to make sure that he’s not wasting his time.  This is information that took him months to determine and we get to listen in and save all that time and effort. Brett knows how to buy houses from HUD, HUD foreclosures.  His system for buying they HUD homes is awesome, from offering 25% of list price and just fishing for counters to knowing when they are more likely to accept an offer, it’s all here in this episode. Learn how to buy houses from HUD with this episode where I interview Brett Snodgrass.

53: [Marketing] Getting HUD Deals with Brett Snodgrass

This week Danny is joined by Jim Huntzicker, a licensed real estate broker with over 500 deals under his belt after nearly 15 years in the business. Jim Huntzicker is also the creator of MLS domination, and was featured in episode 46 of the FlippingJunkie Podcast where he dives more into how he finds his deals. He stops by to discuss how he finds success across the country with multi-family units as long-term investments. Jim walks us through a detailed example of what a multi-family deal looks like including how he analyzes the numbers, how he puts together funding for these more expensive deals, and how he has scaled his REI business across the country. Jim also discusses his future goals for his business as well as how he plans to actually achieve them.

This week Danny is joined by Jim Huntzicker, a licensed real estate broker with over 500 deals under his belt after nearly 15 years in the business. Jim Huntzicker is also the creator of MLS domination, and was featured in episode 46 of the FlippingJunkie Podcast where he dives more into how he finds his deals. He stops by to discuss how he finds success across the country with multi-family units as long-term investments. Jim walks us through a detailed example of what a multi-family deal looks like including how he analyzes the numbers, how he puts together funding for these more expensive deals, and how he has scaled his REI business across the country. Jim also discusses his future goals for his business as well as how he plans to actually achieve them.

147: Multi-Family Deals for Long-Term Investing with Jim Huntzicker

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