The “3 P’s” That Helped Us Land Our Very First Million Dollar Fix & Flip [Video!]

The “3 P’s” That Helped Us Land Our Very First Million Dollar Fix & Flip [Video!]

1 min read
Matt Faircloth

Matt Faircloth, co-founder and president of the DeRosa Group, is a seasoned real estate investor. The DeRosa Group, based in historic Trenton, N.J., is a developer and owner of commercial and residential property with a mission to “transform lives through real estate.” DeRosa creates partnerships to finance select real estate investments and has a proven track record of providing safe, profitable investment opportunities to their clients.

Experience
Matt, along with his wife Liz, started investing in real estate in 2004 with the purchase of a duplex outside of Philadelphia with a $30,000 private loan. They founded DeRosa Group in 2005 and have since grown the company to hundreds of units in residential and commercial assets throughout the East Coast. Under Matt’s leadership, DeRosa has completed tens of millions in real estate transactions involving private capital, including fix and flips, single family home rentals, mixed-use buildings, apartment buildings, and office buildings.

Matt is an active contributor to the BiggerPockets Blog and has been featured on the BiggerPockets Podcast three times (show #88, #203, and #289). He also regularly contributes to BiggerPockets’ Facebook Live sessions and teaches free educational webinars for the BiggerPockets Community.

Matt authored the Amazon Best Seller Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money. The book is a comprehensive roadmap for investors looking to inject more private capital into their real estate investing business and is a must-read for anyone looking to grow their business by using private lenders and equity investors. Kirkus, the No. 1 trade review publication for books, had this to say about Raising Private Capital: “In this impressively accessible introduction to a complex subject, Faircloth covers every aspect of private funding, presuming little knowledge on the part of the reader.”

Matt and his wife Liz live in New Hope, Penn., with their two children.

Education
Matt earned a B.S. in Industrial and Systems Engineering with a minor in Business from Virginia Tech. (Go, Hokies!)

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Hey there, BP! We are so excited about our most recent fix and flip project. It’s a huge home in a great area that we saved from foreclosure. It was literally a few days from the courthouse steps when we bought it. In this video, learn about the 3 factors that led us to this deal — what I call “the 3 P’s”!

  • Plan: To bring about what you want to see in your business, you need an effective plan. That should include as much detail as possible — what types of deals you want to do, how many of them, what your target profit margin is, and what the key people and processes that need to be in place to make your deal happen are.
  • Process: You need to have an infrastructure in place so that when that big deal gets reeled in, you can bring it to fruition. That process includes everything from how you are going to fund the deal to who will do the rehab work and how you will resell it.
  • People: People are the most important part. Once you get your plan and process flat, it’s time to get out there and start telling everyone in your network about them. Also, think about people you don’t know yet who would be able to help you meet your goals. Make the reach outs and let them know that you are ready to move on a deal when it comes up.

Related: House Flipping: 5 Vital Tips for Success (Based on My Mistakes!)

Check out the video attached to learn more.

If you watched the video, please leave a comment so we can get a good conversation going on this.

Happy investing!