A Place To Begin

FAR 143

Expected Air Date: 04/16/18

Opening

Good morning everyone and welcome to another week of real estate investing news, trends, markets, movers and shakers. Today we are going to focus on one of the top questions we get here at Flipping America. In a few moments I’m going to break down the things you need to consider to figure out your best “fit” in real estate investing.

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Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.

Announcements:

  • My upcoming speaking engagements:
    • April 21, FlipStarter Atlanta
  • Details on the website and at FlipStarterEvent.com

News!

Topic – A Place To Begin

We say nearly every show, “We don’t encourage everyone to drop what you are doing and start flipping houses like they do on TV, but we do encourage everyone to consider real estate as a part of a balanced investment portfolio.” But the TV shows continue to create waves of people interested in figuring out a way to quit their job and do this full-time. So people need a path into this. Since that’s what you need – I’ll be happy to provide.

The first thing I need you to understand is this business is not all fun, games, and big checks. Some days there are nothing but problems. To be truly good at this is to be good at solving problems. You also need to commit yourself to the tedious tasks. Deals don’t just fall into your lap. You have to get out there and continually prospect for them. While you’re out there, deals will occasionally fall your way, but as Ben Franklin said, “Opportunity tends to dance with those who are already on the dance floor.”

So let’s begin by taking inventory. This inventory consists of the following general categories:

  1. Thoughts about the future, Vision, Goals, Plans
  2. Current employment situation, Happy? Future? Career?
  3. Family situation and obligations, Married? SO? Kids? In the future?
  4. Available time. Number of hours you can consistently give this each week.
  5. Cash on hand. Dollars you could put into a deal that you could afford to lose.
  6. Skills. Construction, negotiation, analytical, research, legal, real estate
  7. Personality type, introvert, extrovert
  8. Connections, people with needed skills (see 6)
  9. Information. How much do you know?
  10. Learning style: How do you learn? Reading? Audio? Hands-on? Seven different styles. Know yours. Be intentional about getting training in a style that works for you.
  11. Training source
  12. Mentor
  13. Path

Motivational Thoughts for the day

  • Life is 10% what happens to you and 90% how you respond to it. -Chuck Swindoll.

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Emails:

Questions@flippingamericaradio.com Tell us where you’re from!

  • James, Lexington, KY “Quick question: Stage? Or not?”
  • Robert, Morgantown, WV “I’ve flipped a few houses here and it went ok. I heard you talk about remote flipping. Should I be looking into that?”
  • Eduardo, Las Vegas, NV “I’ve just been told that my contract, which ends June 30th will not be renewed. I’m an independent IT contractor. I’ve been interested in real estate for some time now. If I jumped in now, could I conceivably be making money by the end of the summer? I’m single and have enough put aside to maintain my lifestyle for a few months but will need income by the end of the summer to maintain a comfort level.”