Investor · Fairfax, VA · Member since 2009 · 35 posts · 7 votes
2y
I just finished his book. Haven’t taken his course. Working on getting my first deal now. Willing to chat more over the phone or Zoom if you’re interested.
Rental Property Investor · Seattle, WA · Member since 2020 · 2 posts · 1 vote
1y
@Rob Calkins I also live on the west coast and would love to be connected with your friend who has done several of these land contract sales (slow flips). Thanks in advance.
@Rob Calkins I also live on the west coast and would love to be connected with your friend who has done several of these land contract sales (slow flips). Thanks in advance.
Ok, I'll see if he's open to it. It's been a bit since I've talked to him. I think he retired already lol
Developer · Moscow Idaho · Member since 2024 · 224 posts · 143 votes
1y
I assume that a slow flip is a BRRRR that you sell in 1 to 5 years or even 10. Most of my flips are 5 to 10 years. I can't believe someone wrote a book about this. I spoke at a real estate forum in 2021 and did not tell the guy what I would discuss. I titled my talk Flipping Is for Poor Stupid People. If people don't understand why it is dumb to pay your tax rate instead of long-term cap gains, then they are very dumb or too poor to hold it.
A long-term flip done well is pretty easy. You can refinance a property and get almost as much money as you would if you sold it. If you consider the taxes you are paying, you can get more money with a refiance.
Is this book written in crayon with big letters to fill space, so there are more pages? Like a Dave Ramsey book on budgetting that should just say if you don't have the money don't buy it on the first page and then you can include crayons or for an extra $20 magic markers with coloring book pages.
Toss in an OZ Zone fund after you sell, and you will really crush it. That would take an entire page more to explain. You could write three books in the same book or just have 3 pages of paper and call it a trilogy. BUGETING, SLOW FLIP, OZ FUND.
Then you could follow up with a book called DON'T BE LAZY, DRUGS ARE BAD, GET A JOB, DON'T MARRY A GUY THAT LIVES IN HIS PARENTS' BASEMENT, HOT GIRLS GENERALLY DON'T MAKE GOOD WIVES HELLS HOT TO.
Keep it small keep it all; understand taxes; only buy cash flow, don't overleverage. Keep your day job until you can live comfortably on income properties.
I assume that a slow flip is a BRRRR that you sell in 1 to 5 years or even 10. Most of my flips are 5 to 10 years. I can't believe someone wrote a book about this. I spoke at a real estate forum in 2021 and did not tell the guy what I would discuss. I titled my talk Flipping Is for Poor Stupid People. If people don't understand why it is dumb to pay your tax rate instead of long-term cap gains, then they are very dumb or too poor to hold it.
A long-term flip done well is pretty easy. You can refinance a property and get almost as much money as you would if you sold it. If you consider the taxes you are paying, you can get more money with a refiance.
Is this book written in crayon with big letters to fill space, so there are more pages? Like a Dave Ramsey book on budgetting that should just say if you don't have the money don't buy it on the first page and then you can include crayons or for an extra $20 magic markers with coloring book pages.
Toss in an OZ Zone fund after you sell, and you will really crush it. That would take an entire page more to explain. You could write three books in the same book or just have 3 pages of paper and call it a trilogy. BUGETING, SLOW FLIP, OZ FUND.
Then you could follow up with a book called DON'T BE LAZY, DRUGS ARE BAD, GET A JOB, DON'T MARRY A GUY THAT LIVES IN HIS PARENTS' BASEMENT, HOT GIRLS GENERALLY DON'T MAKE GOOD WIVES HELLS HOT TO.
Keep it small keep it all; understand taxes; only buy cash flow, don't overleverage. Keep your day job until you can live comfortably on income properties.
Matthew, that's not really the context of the "Slow Flip Method" as we're talking about here. It probably would be better suited to be called something else. It's buying a house under market as possible, turning around and selling it on a contract where you're the bank. If you look up the guy that has the program on it you'll see the details. Scott something...
I assume that a slow flip is a BRRRR that you sell in 1 to 5 years or even 10. Most of my flips are 5 to 10 years. I can't believe someone wrote a book about this. I spoke at a real estate forum in 2021 and did not tell the guy what I would discuss. I titled my talk Flipping Is for Poor Stupid People. If people don't understand why it is dumb to pay your tax rate instead of long-term cap gains, then they are very dumb or too poor to hold it.
A long-term flip done well is pretty easy. You can refinance a property and get almost as much money as you would if you sold it. If you consider the taxes you are paying, you can get more money with a refiance.
Is this book written in crayon with big letters to fill space, so there are more pages? Like a Dave Ramsey book on budgetting that should just say if you don't have the money don't buy it on the first page and then you can include crayons or for an extra $20 magic markers with coloring book pages.
Toss in an OZ Zone fund after you sell, and you will really crush it. That would take an entire page more to explain. You could write three books in the same book or just have 3 pages of paper and call it a trilogy. BUGETING, SLOW FLIP, OZ FUND.
Then you could follow up with a book called DON'T BE LAZY, DRUGS ARE BAD, GET A JOB, DON'T MARRY A GUY THAT LIVES IN HIS PARENTS' BASEMENT, HOT GIRLS GENERALLY DON'T MAKE GOOD WIVES HELLS HOT TO.
Keep it small keep it all; understand taxes; only buy cash flow, don't overleverage. Keep your day job until you can live comfortably on income properties.
Matthew, that's not really the context of the "Slow Flip Method" as we're talking about here. It probably would be better suited to be called something else. It's buying a house under market as possible, turning around and selling it on a contract where you're the bank. If you look up the guy that has the program on it you'll see the details. Scott something...
Why not just rent it and refi? If you are carrying note you own it but don't have benefits.
I assume that a slow flip is a BRRRR that you sell in 1 to 5 years or even 10. Most of my flips are 5 to 10 years. I can't believe someone wrote a book about this. I spoke at a real estate forum in 2021 and did not tell the guy what I would discuss. I titled my talk Flipping Is for Poor Stupid People. If people don't understand why it is dumb to pay your tax rate instead of long-term cap gains, then they are very dumb or too poor to hold it.
A long-term flip done well is pretty easy. You can refinance a property and get almost as much money as you would if you sold it. If you consider the taxes you are paying, you can get more money with a refiance.
Is this book written in crayon with big letters to fill space, so there are more pages? Like a Dave Ramsey book on budgetting that should just say if you don't have the money don't buy it on the first page and then you can include crayons or for an extra $20 magic markers with coloring book pages.
Toss in an OZ Zone fund after you sell, and you will really crush it. That would take an entire page more to explain. You could write three books in the same book or just have 3 pages of paper and call it a trilogy. BUGETING, SLOW FLIP, OZ FUND.
Then you could follow up with a book called DON'T BE LAZY, DRUGS ARE BAD, GET A JOB, DON'T MARRY A GUY THAT LIVES IN HIS PARENTS' BASEMENT, HOT GIRLS GENERALLY DON'T MAKE GOOD WIVES HELLS HOT TO.
Keep it small keep it all; understand taxes; only buy cash flow, don't overleverage. Keep your day job until you can live comfortably on income properties.
Matthew, that's not really the context of the "Slow Flip Method" as we're talking about here. It probably would be better suited to be called something else. It's buying a house under market as possible, turning around and selling it on a contract where you're the bank. If you look up the guy that has the program on it you'll see the details. Scott something...
I understand why old people carry notes. No idea why a young person would. When I turn 80 I plan on turning it over and being a bank as well. But it still does not make financial sense and you have to pay taxes on the income.
Investor · Cleveland, OH · Member since 2013 · 120 posts · 77 votes
1y
I love slow flips I was initially apart of Scott’s program but I ended up just reading his book and implementing the strategy last month I just did a slow flip with a outstate investor who had a a free and clear i structured the deal to have it paid it off and 5 and sold it to a local female investor who wants more because she likes to buy on terms.
I love slow flips I was initially apart of Scott’s program but I ended up just reading his book and implementing the strategy last month I just did a slow flip with a outstate investor who had a a free and clear i structured the deal to have it paid it off and 5 and sold it to a local female investor who wants more because she likes to buy on terms.
I signed up for it a few months ago, ask me anything
Do you have trouble finding livable houses in this price range? Also, does Scott detail the process for foreclosing if they default?
No trouble at all, actually.
We use something called a land contract (sometimes called a contract for deed) rather than a traditional mortgage deed. So rather than do a foreclosure that could take over a year, we actually only do a foreclosure. Which is 60 days or less depending on the state
I signed up for it a few months ago, ask me anything
Do you have trouble finding livable houses in this price range? Also, does Scott detail the process for foreclosing if they default?
No trouble at all, actually.
We use something called a land contract (sometimes called a contract for deed) rather than a traditional mortgage deed. So rather than do a foreclosure that could take over a year, we actually only do a foreclosure. Which is 60 days or less depending on the state
Sorry, I meant to say we do evictions, not foreclosures.
If you read the article, the lawsuit is because a seller didnt get occupancy inspections before putting people in the house. So he broke city code. The model itself is still very legal, when you follow the law.