For anyone who’s flipped a house before, you understand how much work it can take. However, today’s guest is not only flipping one house – but three all at the same time while still working a full time day job. Today Justin Silverio, an investor out of the Boston Massachusetts area, shares with us a ton of tips about getting started, building systems to manage your business, working with partners, wholesaling, and a whole lot more.
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Listen to the Podcast Here
In This Show, We Cover:
- Why it took Justin three attempts to get into real estate
- How Justin overcame “Analysis Paralysis“
- Making less than minimum wage on the first flip
- The 5 documents you need to get from your contractors
- How a contractor stole from Justin and his business
- When it’s okay to make nothing on a flip
- Building a business plan to help you succeed
- Direct mail marketing to motivated sellers
- Partnering with others when flipping houses
- How Justin can flip three houses, at the same time, while working a full time job
- Tackling HUGE rehabs as a newbie
- And LOTS more!
Links from the Show
- I’m a Lumberjack song…
- How To NOT Make Less Than Minimum Wage on Your House Flips
- BP Podcast 055: The Five Steps Needed to Get Any Lender to Say “Yes” with Jimmy Moncrief
- BP Podcast 050: Getting Started and No Money Down House Flipping with Mike Simmons
- Events and Happenings Forum
- BP Podcast 052: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy
Today’s QuickTip: Diary of a New Construction Project
- Download “BiggerPockets Presents: Diary of a New Construction Project“
- The Book on Flipping Houses
- The Book on Estimating Rehab Costs
Books Mentioned in the Show
“The school of hard knocks sometimes teaches better than a $60,000 bootcamp.” (Tweet This!)
“A business plan shows you are serious about your business.” (Tweet This!)
“You never know when the next deal is going to happen – so never quit!” (Tweet This!)
Connect with Justin
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.