FAR 163 Expected Air Date: 06/30/18
Opening
We’ve been talking about life and business over the past few weeks and today we have Ron Carucci online to visit with us about start-ups. We discuss several of the misconceptions in the minds of new entrepreneurs, and the mistakes that flow out of those misconceptions. More importantly we discuss how to address them. Ron and his partners work with medium size and larger businesses typically but he was willing to give us 30 minutes of his valuable insight. That’s coming up shortly. In case you missed it, I want you to pay attention to Zillow. They are a giant among us. You can pick on the Zestimate all you want and I’ll agree with you that it is not to be trusted. But Zillow is huge and has a ton of cash to work with. That’s why when they announced recently they are getting into the direct buying space, I sat up and took notice. They have the clout and the national presence to clobber everyone else, I’m looking at you OfferPad, Knock, OpenDoor, and even Mark Spain with your Guaranteed Offer program. Should these people fold up and quit? Absolutely not. Let’s all get better at what we do. We are all out there looking for deals and here is the MAIN reason all of these are not going to put us out of business: You ready for this? No, wait. I’ll tell you after my talk with Ron. How to Reach us
www.flippingamericanetwork.com Facebook.com/flippingamericamedia Twitter and Instagram @FlippingAmerica YouTube: bit.ly/FlippingAmericaOnYouTube Linkedin: bit.ly/FlippingAmericaOnLinkedIn Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. Announcements:
- Lunch with me every Wednesday.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and n the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
News!
Guest: Ron Carucci, Co-Founder Navalent
Notes from the Interview (You’re welcome!) 3 things holding back most Entrepreneurs - Identity - “What is your strategy?” often yields stock answers like mission, vision, values statements. Usually borrowed, plagiarized or counterfeit. Why you? What are the differentiators?
- Organizational Continuity - Processes. Intentional design and deplloyment of assets
- 70% of what we do is just necessary to stay competitive and keep the lights on.
- Enabling work is what moves us forward. Often these get diluted.
- Leadership
Tips for listeners: Don’t let HGTV seduce you. It’s not for everyone. If you’re going to “just do it”, “just do it” wisely. Be thoughtful. Give it a year to work. Ask yourself, “Am I willing to do what it takes to succeed?” Scaling is not Growth. Growth is topline increase at the same rate of cost. Scaling is repeatable efficiency. Resources: www.navalent.com/transformation www.liminalspace.org Reinventing You, Dory Clark Rising to Power, Ron Carucci Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message! - Ebony, Detroit, MI “Hi Roger can transactional funding be used to purchase properties at tax or bank foreclosure auctions? I know transactional funding is used for back to back closings that must take place the same day. I think it would be best to at least ask the homeowner to agree to a thirty day time frame to allow time to find an end buyer. I know the law states that the homeowner who's being foreclosed on has a six month redemption period to stay in their home without paying a mortgage, they can reclaim their property and they cant be evicted unless they refuse to allow an inspection or if they damage the property. So with that being said can transactional funding still be used as long as the end buyer is ok with purchasing a foreclosure that has a six month redemption period? Or should I check with the companies or local court houses that hold the auctions to find out if transactional funding is allowed for tax and bank foreclosures?
- Milton, Villages of Ocala, FL “I need a reputable lender for a rental property. Can you help?”
- Jim, West Palm Beach, FL, didn’t email but from a strategy call. “I have about 20k to put into a deal and just can’t find a deal that small that isn’t in a terrible area.”
Motivational Thoughts for the day
- Keep your eyes on the stars and your feet on the ground. -Theodore Roosevelt
