FAR 216 Top Twenty Insider Secrets
Expected Air Date: 12/15/18
Coming up I’m going to share with you my top 20 insider tips, tricks and techniques. They include some things you MUST know, some you should know, some things you MUST do, and some things you should do when you can.
How to contact us
Twitter and Instagram @FlippingAmerica
We now have a profile at houzz.com for what it’s worth.
Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.
- Lunch with me every Wednesday.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and 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.
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Topic: Top 20 Biggest Secrets / Insider tips to Real Estate Investing
There are some things you MUST KNOW, some things you SHOULD KNOW, some things you MUST DO, and some other things you SHOULD PROBABLY DO.
Things you MUST KNOW:
- You must know how to analyze a deal.
- You must know how to conduct due diligence on a property. What do you need to know and how do you find out?
- You must know the process for deal flow.
- You must know something about the structure and building process.
- You must know how to run a business. Know the difference between owning a job and running a business.
Things you SHOULD KNOW
- What your repairs cost.
- How to do some of the work (not that you’re going to do it).
- How to read the documents, settlement statement, title insurance, owners’ insurance etc.
- You should know the market where you are working
- You should know how to network.
Things you MUST do
- Your Due Diligence
- Figure all of your costs
- Follow through on every detail in the project
- Pay your taxes
- Communicate with your funding sources.
Things you SHOULD do
- Take a pessimistic view of outcomes (don’t count your chickens yet)
- Give 10% of your gross earnings to charity.
- Finish every rehab in a way you’d be proud to connect with your brand.
- Treat everyone in the process the way you would wish to be treated (even when and especially when they do not deserve it).
- Stay on top of things – the industry, the market, the trends, the projects, the deal flow, and your financials.
Motivational Thoughts for the day
“When I look in the mirror I see the reason — the cause behind all of my successes and the decision power behind all my failures.” -Roger Blankenship