It’s no secret that we make our living in single family houses. But I’ve often wondered if I couldn’t translate the skills I have acquired in this business to something bigger - and maybe easier. Spoiler alert - the answer is YES. And today we’re going to talk about something bigger - MUCH bigger. On this episode of Flipping America. I had Nate Barger on the show not too long ago to talk about the BRRRR method and we didn’t get all the way finished with that subject before we started talking about hotels. I knew right then I had to get him back to talk about hotels. So that’s what we have coming up for you in just a little while today. But first let me comment on some breaking news.
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Announcements:
- FlipStarter November 2021 is sold out. But we’ve already scheduled it again for January.
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- Learn how to Find, Fund, Fix and Flip houses
- Four weeks of video instruction (2 hour sessions)
- Four weeks of group coaching
- You’ll get my book, “Fantastic Deals and Where to Find Them”, the exact procedure I used to get 10,000 deals per week in my inbox.
- You’ll get my book, “How to Put Skin in the Game When You Are Running Out of Skin”, my little book on how to do deals - even big rehabs - with none of your own money.
- You’ll get my book, “Stop Being Poor” which describes the poverty mindset and suggests a way out.
- Includes online courses, ($800 value)
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- REI QuickStart - 15 lessons to have you making offers in 2 weeks.
- REI By the Numbers - All of the formulas I use for deal analysis, project tracking, and ROI calculations.
- Find Your Fit in REI
- Create the Life of Your Dreams
- Purchase and Sale Agreements for your offers
- Contractor Docs, my package of eleven documents that describe policy and procedures for working with contractors, including the actual Construction Agreement I use. I paid a lawyer thousands to create this bullet-proof agreement and I’ll include it.
- How to manage the rehab process
- How to make $5000 in the next 30 days
- “Double Your Investment” guarantee. Although it’s a 30 day program, you stay on the coaching calls until you have at least doubled your investment in this training.
- Money back guarantee. If at any time you believe this isn’t the thing for you, notify us and you can drop out and get a refund for remaining sessions
- Your investment: $997.67. Or pay three installments of $350.
- Early Bird Discount: Register before December 1st and save $200.
- 100,000 people want this - we only have 100 seats.
News and Resources:
Mindset Moment:
Questions from Listeners:
- Al, Las Vegas, “Am I better off buying materials for my rehab at [one of the big box stores] or should I go to the local lumberyard and building supply?
- Karissa, Milwaukee, WI, “I bought two rental properties a couple of years ago following the 1% rule. In order to get that price I had to buy them in an area that makes me a little nervous, but I thought at the time, ‘people live here, why wouldn’t someone want to rent here ya know?’ But I’m not making money. I’m losing money. It’s taking all of my extra income just to maintain the houses and fix them back up after the tenants move out. What am I doing wrong?”
- Evan, Indianapolis, IN, “I couldn’t make it to FlipStarter. Did I hear you say it’s in video format? I couldn’t find it on your website.”
- Winifred, Villages of Ocala, FL “My husband only wants to use the cheapest paint, the cheapest carpet, the cheapest fixtures and cheapest everything in our investment houses. He says the tenants don’t care and wouldn’t appreciate better things. He also won’t do anything about controlling bugs or termites. He says that’s the tenant’s responsibility and it says so in the lease. I know we don’t want to put the finest products in our houses, but it seems like we ought to be better than the cheapest. I’d like to know how you handle this.”
- Lilly, Villages of Ocala, FL, “My husband and I are so tired of our rentals, but we are not tired of the cash flow. We are both in our late 60’s. We’d like to sell them to end the headache but aren’t sure where we would put the money. Any suggestions?
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- Perhaps not sell - perhaps owner finance?
- Not an investment advisor, but as a suggestion, you could always look into private lending.
- Cesar, Long Beach, CA, “I want to buy some rental properties in Atlanta. Can you connect me with resources there for buying and for property management?”
Quote of the Day
“If it matters to you… you’ll find a way.” - Gold Step
