Building Back Up To 30 Deals a Year (long)

Building Back Up To 30 Deals a Year (long)

Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes

I’m getting my act back together and would like to show anyone that is interested how I am doing it.

My wife and I have been real estate investing for 8 years in San Antonio, TX. For the last several years, we’ve typically bought and sold between 25 and 30 houses a year. Our exit strategy is mostly to fix and flip retail, but also sell some houses with owner financing for long term cashflow.

Here's what happened and what I am doing about it:

Last summer my family took a vacation to the west coast. We went from San Diego to Seattle over three weeks, stopping in the major cities and San Simeon. What a beautiful place (the west coast in general).

Seeing Howard Hughes’ “Spruce Goose†was on my list of things I wanted to do and so we visited the Air and Space Museum in McMinnville, OR. Seeing this place really rekindled my desire to learn how to fly. I’ve wanted to learn for the last several years since I had flown with another investor down the shoreline of Lake Michigan. What an absolutely amazing experience.

So, as soon as we got back, I started researching flying schools and taking flights with different instructors. For several months, all I was doing was thinking about flying. Investing took a back seat and I was playing "semi-retired".

I ended up passing my checkride in November and immediately realized (now that my brain was starting to allow other thoughts) that we had quite an inventory of houses waiting to be rehabbed. I would never wish rehabbing 6 houses at one time on anybody. We had some that were already finished also that were just sitting on the market.

The market got really slow over the new year and I was hesitant to pick up anymore, especially because I was so wore out from dealing with contractors and rehabbing issues (the hardest part of this business in my opinion).

Fast forward to the present, the houses are all finished and on the market and we are getting them under contract. I now need to fill by deal pipeline again.

I feel like I am starting over (I know it is not completely starting over) because what you experience today is usually a result of what you did the last 3-6 months.

I was needing motivation and was thinking about ways to make the process more exciting. :idea: The result is that I have decided to share, with whoever is interested, the process. I am going to show how I am marketing, documenting the leads that come in, my analysis, purchase, rehabbing and selling of the properties for others to read about and learn from.

I will be posting regularly on my blog (in signature) as I go along. Please join me. I would love to hear your ideas and feedback. It should be a fun ride.

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Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
15y

I also just fished reading your 7 Crazy Real Estate Investing Stories--very entertaining!

See this reply in the discussion

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  • Engineer · Bel Air, MD · Member since 2009 · 136 posts · 24 votes
    15y

    Congrats on the big announcement!

  • Rehabber · Denver, CO · Member since 2010 · 79 posts · 20 votes
    15y

    Congratulations, Danny on both the big announcement and the site as well. I actually just received similar news 2 weeks ago as well, and that's after my son was just born on christmas eve 14 months ago. Great site keep it up.

  • Investor · Southlake, TX · Member since 2009 · 950 posts · 338 votes
    15y

    Thanks for the updates.

    Congratulations on your announcement. Maybe you'll get two gifts for Christmas! Afterall, it's already happenned to you once...

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Congratulations to you also CJ!

    Tod, I don't think my wife would enjoy that so much. And we just sold our big gas guzzler for a more fuel efficient car.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    The Fifth week is now posted and busting at the seams with goodness. Seriously, I think it's the best one so far.

    17 Leads and should have one under contract tomorrow.

    You can view the post on my blog (it's in my signature below). I only state this again because someone told me they spent 2 hours looking for the post. Sorry.

  • Real Estate Investor · San Antonio, TX · Member since 2011 · 14 posts · 2 votes
    15y

    Great info, Danny. Thanks for sharing such good info. Congratulations on your big announcement.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Thanks, Adam. I thought we had already picked out names, but my wife just loves that part of it and is still asking me if I like this name or that name. :)

    Just got back from my interview with an REO agent. Can't wait to edit the sound recordings and get it on my blog.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    The Sixth Week is now posted. 13 leads. One supposed to be under contract, but dang attorney wanted to negotiate the terms rather than verify the legality of the contract and the seller was trying to strong arm me. I turned the tables and told her I need to see the house again before I agree to pay title policy and closing costs. She was acting super firm but now is telling me to let her know what I come up and they will work with me. :)

    The house I closed on last week is being rehabbed. Posted with pictures and scope of work.

    Enjoy.

    (I haven't typed this much since my job.)

  • Investor · Lenexa, KS · Member since 2010 · 215 posts · 121 votes
    15y

    This has been a great blog, it's different in the way you go over all leads. Really well done. Enjoying it immensely.

  • Real Estate Investor · Houston/League City, TX · Member since 2011 · 63 posts · 13 votes
    15y

    Danny,

    I'm new to this and am still anxiously awaiting the right property for my first flip. I love reading your blog and learning everything I have from it. Can;t wait until your next post.

  • Real Estate Consultant · Somersert, NJ · Member since 2011 · 52 posts · 3 votes
    15y

    Very good blog. Can't wait to read more.

  • Member since 2011 · 17 posts · 1 vote
    15y

    Danny
    how much of the houses you flip would cashflow? How do you decide if you want to hold it or flip it?

    thanks

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Mat, Simon and Thomas, thanks for the compliments.

    Peter,

    I don't really like rentals, so I don't really look at cashflow, just profit potential for resale.

    For long term investment, I prefer selling with owner financing (creating notes).

    Danny

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Seventh week is now posted. 21 leads this week.

    Also posted the interview with one of the top REO agents in San Antonio.

    ...and my wife posted her first post on the blog.

    enjoy.

  • Real Estate Investor · Chicago, IL · Member since 2011 · 44 posts · 12 votes
    15y

    Danny,

    This is a great thread and lots of valuable info on the blog as well. Defenitely going to follow along and try to learn as much as possible.

    Just came back from a visit to San Antonio a week ago. Pitty I didn't know about it at that point or I would've seen if there was an opportunity to meet.

    Great info and keep up the good work.

  • FL · Member since 2009 · 2k+ posts · 357 votes
    15y

    Danny,
    Thank you for sharing.

    Raymond

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Kobus,

    I'm glad you are finding it helpful.

    Next time you're in town, give me a call.

    Danny

  • Real Estate Investor · Chicago, IL · Member since 2011 · 44 posts · 12 votes
    15y

    Danny,

    Hopefully a quick question. How do you identify the REO agents to work with? Do you find the names through listings on RealtyTrack or Foreclosures.com or just word of mouth in the local area?

    I've been trying to get in contact with more REO agents but only have one actively working with me at the moment.

    Thanks,

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Kobus,

    Do a search on http://www.reonetwork.com/

    Make sure to scroll down far enough to see the 'other brokers and agents' because that's where the bulk of them are. The top part of the page just shows 'premium partners' which I guess means paid.

    This should give you more than enough people to contact.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Ok. Finally got it done. Eighth week is not posted on my blog. 23 leads this week. That might be a record for me.

    Oh, and I got another angry call this week. The week just didn't feel right until that happened.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    Ninth week. Only ten leads, but I finally broke the streak and put another one under contract.

    Of course there is more to the story.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    The Tenth Week! 18 leads from 7 sources. Some offers out that I should be hearing back from soon. Wish me luck.

    I also worked a lot this week on getting the free lead manager system going (will be very useful for deal analysis and lead follow up). Should be beta testing this week.

    Thanks for following along.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    What's next? Oh yea, the Eleventh Week posted.

    14 leads this week and guess what.... got another deal under contract. This one is a good one.

  • Real Estate Investor · San Antonio, TX · Member since 2010 · 328 posts · 182 votes
    15y

    The Long Awaited Twelfth week is now posted. Only 12 leads (6 of which were before noon today.

    Didn't think I would even get a minute to focus on anything else. Guess I could have worse problems)... AND SIGNED UP ANOTHER DEAL!.

    If I had been disappointed from the first couple of months of not getting much under contract and quit, I would not have these great deals that I am currently waiting to close on. If you are determined to stick it out, you can make it happen.


    Thanks a lot for following along.

  • Property Manager · Las Vegas · Member since 2011 · 21 posts · 6 votes
    15y

    Love this!

    Thanks so much!

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