FAR 124 Contractor Questions
Expected Air Date: 03/1/18
Hello everyone. I am Roger Blankenship and I teach people how to make money in Real Estate. We bring you news, trends, markets, and we feature people who are getting it done in this industry. Today we have some market data and some rankings for you. We also have stories coming up about markets that are cooling off or underperforming. My team and I are digging through mounds of research data, reading lots of really boring studies and distilling it all into usable and actionable steps for your investing career.
We don’t encourage everyone to go out, drop whatever else you have going on, and start a new career as a house flipper. Frankly it’s not for everyone. We DO recommend that everyone figure out a way to invest in real estate some how, some way. There are hundreds of possible combinations of techniques, access points, financial commitments, and skill sets, but it all boils down to one of three strategies:
- Buy for a quick re-sell. (After you have improved or added value)
- Buy and hold to create cash flow and build equity.
- Invest in projects like those and the people who are doing them.
Nearly every week someone asks if I will train them. My answer is always, “it depends.” Anyone can watch some of my videos on our website or youtube channel. But before I take you into our mentoring program we need to talk. It’s an invitation only party and the people invited are the people who can convince us that they will succeed. We don’t want to take your money and then watch you fail. If we can help it we WON’T do that. But if you persuade me or one of our team leaders you have what it takes to succeed, you could become a part of our team.
Also nearly every week someone asks if they can invest their money with me. This may surprise you but I don’t automatically say yes. First we need to have a longer conversation. I need to learn what your objectives are and how much you want to invest. If we have a program that meets your needs then yes you can invest with us. If not, I’m not going to just take your money and hope for the best. During this conversation I’ll learn what you are looking for in terms of a return on your money and your risk tolerance. After we get through that interview we will talk about the mechanism for putting your money to work.
But hey there are many ways to invest even in your own community with local people. We are just happy to see you putting your money into real estate some how some where.
Questions@flippingamericaradio.com Tell us where you’re from!
- Arlene, Milwaukee, WI. “How do you find your contractors?
- Doreen, Atlanta, GA “My new contractor wants money up front for materials. I know you say ‘no money up front’ but we have this trust thing going on. He doesn’t know me and I don’t know him. What do I do?”
- William, Macon, GA “I keep hearing about the foreclosure auctions at the courthouse steps. I think I might want to do that, but why not just buy foreclosures my agent is showing me from the listings? Are the deals any better at the auctions? How do you go about buying at the courthouse?”
- Adnon, Long Beach CA, “Do you always hire a GC? What it the repairs are minor?”