FlipSystem by Antoine Martel
Member since 2023 · 5 posts · 8 votes
FlipSystem by Antoine Martel
Most Popular Reply
Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes
3yJumping in here, I have gone through the calls for this system as I am very interested in the Flipsystem. After reading the above, here are my thoughts:
The flip system costs $15K one time to get in (at time of this post), and a couple hundred a month to use the proprietary CRM for managing deals.
The reason I am interested in this is it is an all in one package. They provide vetted deal flow, multiple vetted financing providers hard money etc, multiple vetted contractors and agents, Vetted PMs and more in the target market. He came from the turnkey space in those markets so he's offering those resources he has already been using to sell the turnkey homes.
Yes, as a few have mentioned, it is very possible to get these resources on your own but the goal here is to shortcut that.. and if you have the $ to do so you can save a lot of time... And for those with full time W2s/families etc, that time is valuable.
Of course there is some kick back in all these but why is that an issue? They put in the time to get the resources so you don't have to!
They also have one on one calls available for free with the mentors when you need to help with any questions and a weekly all group call and a discord for members to answer questions from experience. Creates a good community mindset IMO.
As for the options, there are a few exit strategies, flip and sell, flip and sell turnkey, BRRRR
If I do end up joining, I will reply back with my experience!
180 Replies
- Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes3yMaster Jay! Agree you should factor ups and downs when using this system!
Quote from @Jay Hinrichs:
if your hoping to make 10k per deal.. then you need to really re think this one small boo boo and your going to lose 10k per deal or more.. 10k is simply way to tight in the flipping bizz.. I have done as many deals as martel over the same period of time.. and you dont make money on every one you will have losers that is certain.. so be careful. Just sayin. based on over 2k flips under my belt.
So, with lots of potential FS customers following and viewing this thread to see if it's for them, what would be your advice on how to best win and be profitable using a system like this or just your advice in general on flipping currently? Again, this system is designed as a shortcut to acquire knowledge/management/financing in already vetted markets.
The goal with FS, high level, is to target 70-90k purchased homes in midwest markets and add 20-40k of value to sell turnkey rental for a 10-15K profit.
Thanks! - Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3yNever heard of them. Not sure why only 10- 20k, all depends I guess on how much work each side does,
Quote from @Neil Patel:
Has anyone used flip system before by Antoine Martel before? https://flipsystem.com/
They're essentially promising on helping you flip homes with 10-20k profit on each flip. - 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Max S.:
Master Jay! Agree you should factor ups and downs when using this system!Quote from @Jay Hinrichs:
if your hoping to make 10k per deal.. then you need to really re think this one small boo boo and your going to lose 10k per deal or more.. 10k is simply way to tight in the flipping bizz.. I have done as many deals as martel over the same period of time.. and you dont make money on every one you will have losers that is certain.. so be careful. Just sayin. based on over 2k flips under my belt.
So, with lots of potential FS customers following and viewing this thread to see if it's for them, what would be your advice on how to best win and be profitable using a system like this or just your advice in general on flipping currently? Again, this system is designed as a shortcut to acquire knowledge/management/financing in already vetted markets.
The goal with FS, high level, is to target 70-90k purchased homes in midwest markets and add 20-40k of value to sell turnkey rental for a 10-15K profit.
Thanks!
cost to sell are going to be 10 to 15% minimum to plug into TK resellers pipe lines..
have you run the numbers lets say purchase rehab is:
PP 70k
rehab 30k pretty average in that age class assets in Cleveland ( keep in mind I funded over 300 deals in Cleveland personally in the last few years so I do have some experience in that market).
So 100k all in.
Cost of capital 2 points 12% plus your going to need at least 30k in cash to pull this off.
lets say your super good at what you do and can do it all in 6 months.
2 points 2k 12k 6 months 6k for total of 8k HML will hit you with another 2k to 3k in junk fees so thats really 10k in borrower costs.
tAx's lets say 1k for 6 months.
Closing costs when ou buy 1,500 to 2k
Clsoing costs including commish and seller concessions and title and escrow at least 10%
Utls and insurance 1500.00
10k profit So that all adds up to an exit sales price that needs to be at least
124,500 hard costs and now you need to sell for 130k to 140k to make your profit.
and given where investor want to be they want 1% rule or .08 so use 1% for easy math they want that house to rent for 1300 to 1400. pretty tough to do in Cleveland on asssets bought at 70k.
anything goes wrong like over run on rehab ( which is super common as we all know) something gets stolen ( very common ) bad contractor ( very common dont care how well vetted they are) and or it takes 2 to 4 months longer holding costs go up by 3 to 5 k.. so any of these things hit you and 10k is poof.. gone plus you dont live there. those that live there and can really control the outcomes might make this work.. but relying on others to do this for you.. well in my mind pretty risky. Just sayin.. but hey try a few and see if its worth it to you.. If U do well then that will be great. However just be aware of the real risk of remote BRRR no matter who the team is. - Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes3y
Quote from @Jay Hinrichs:
Quote from @Max S.:
Master Jay! Agree you should factor ups and downs when using this system!Quote from @Jay Hinrichs:
if your hoping to make 10k per deal.. then you need to really re think this one small boo boo and your going to lose 10k per deal or more.. 10k is simply way to tight in the flipping bizz.. I have done as many deals as martel over the same period of time.. and you dont make money on every one you will have losers that is certain.. so be careful. Just sayin. based on over 2k flips under my belt.
So, with lots of potential FS customers following and viewing this thread to see if it's for them, what would be your advice on how to best win and be profitable using a system like this or just your advice in general on flipping currently? Again, this system is designed as a shortcut to acquire knowledge/management/financing in already vetted markets.
The goal with FS, high level, is to target 70-90k purchased homes in midwest markets and add 20-40k of value to sell turnkey rental for a 10-15K profit.
Thanks!
cost to sell are going to be 10 to 15% minimum to plug into TK resellers pipe lines..
have you run the numbers lets say purchase rehab is:
PP 70k
rehab 30k pretty average in that age class assets in Cleveland ( keep in mind I funded over 300 deals in Cleveland personally in the last few years so I do have some experience in that market).
So 100k all in.
Cost of capital 2 points 12% plus your going to need at least 30k in cash to pull this off.
lets say your super good at what you do and can do it all in 6 months.
2 points 2k 12k 6 months 6k for total of 8k HML will hit you with another 2k to 3k in junk fees so thats really 10k in borrower costs.
tAx's lets say 1k for 6 months.
Closing costs when ou buy 1,500 to 2k
Clsoing costs including commish and seller concessions and title and escrow at least 10%
Utls and insurance 1500.00
10k profit So that all adds up to an exit sales price that needs to be at least
124,500 hard costs and now you need to sell for 130k to 140k to make your profit.
and given where investor want to be they want 1% rule or .08 so use 1% for easy math they want that house to rent for 1300 to 1400. pretty tough to do in Cleveland on asssets bought at 70k.
anything goes wrong like over run on rehab ( which is super common as we all know) something gets stolen ( very common ) bad contractor ( very common dont care how well vetted they are) and or it takes 2 to 4 months longer holding costs go up by 3 to 5 k.. so any of these things hit you and 10k is poof.. gone plus you dont live there. those that live there and can really control the outcomes might make this work.. but relying on others to do this for you.. well in my mind pretty risky. Just sayin.. but hey try a few and see if its worth it to you.. If U do well then that will be great. However just be aware of the real risk of remote BRRR no matter who the team is.Very well explained. In addition, when you have a PP of 70k, 99% of those are NOT going to have a value of 125- 135k as the avg person cannot get deals that good. I can but most cannot. Just because it looks good on paper in many cases it is not reality.
All the best
- Member since 2021 · 7 posts · 8 votes3y
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
- Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes3y
Quote from @David Istanich:
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
Hey David! Glad to help, I had two deals under contract in Cleveland but once inspection came back and the agents GC walked through we identified more cost to rehab than factored and we asked for price reduction but sellers held at their price and couldn't come to negotiation so they were released.
As far as where I am currently, I want immediate cash flow so I have switched to buy and hold.. goal being light rehab. And the flips/BRRRR are going to take 5 months ish.
As for whats advertised, yes you have endless resources to answer every questions you could think of or problem you come across. To have success at this, you have to underwrite deals that are sent over quickly plus find your own! and make offers as only a small percent will close. So to answer your question yes your acquisitions person can send plenty of deals and if theres not enough coming through for your liking in the market they put you in they can add another market! So yes scalable, but it comes down to your effort honestly, I have been lax in that area :) so that why i'm not closing any volume of deals to report..
As for the last questions, I think I mentioned before that the whole reason I bought in was that building the team myself in multiple markets was going to take too much time and I wanted to shortcut that and Flipsystem is exactly that!
- Member since 2021 · 7 posts · 8 votes3y
Quote from @Max S.:
Quote from @David Istanich:
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
Hey David! Glad to help, I had two deals under contract in Cleveland but once inspection came back and the agents GC walked through we identified more cost to rehab than factored and we asked for price reduction but sellers held at their price and couldn't come to negotiation so they were released.
As far as where I am currently, I want immediate cash flow so I have switched to buy and hold.. goal being light rehab. And the flips/BRRRR are going to take 5 months ish.
As for whats advertised, yes you have endless resources to answer every questions you could think of or problem you come across. To have success at this, you have to underwrite deals that are sent over quickly plus find your own! and make offers as only a small percent will close. So to answer your question yes your acquisitions person can send plenty of deals and if theres not enough coming through for your liking in the market they put you in they can add another market! So yes scalable, but it comes down to your effort honestly, I have been lax in that area :) so that why i'm not closing any volume of deals to report..
As for the last questions, I think I mentioned before that the whole reason I bought in was that building the team myself in multiple markets was going to take too much time and I wanted to shortcut that and Flipsystem is exactly that!
Thank you for getting back to me so quickly. I asked the last question figuring I knew the answer based on your other answers. I wanted to make sure even now that you’re doing it you still see the same value in the product as you did when you did the video call. Because I’m so excited with that value.
The only questions I have left are you said you’ve been lax. Do you just mean with being aggressive with analyzing deals and making offers? Also, it literally seems like everything is done for you and you just make the offer, put together funding, give the go ahead on projects. What is the ongoing work within the project? Just answering calls when problems come up?
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @David Istanich:
Quote from @Max S.:
Quote from @David Istanich:
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
Hey David! Glad to help, I had two deals under contract in Cleveland but once inspection came back and the agents GC walked through we identified more cost to rehab than factored and we asked for price reduction but sellers held at their price and couldn't come to negotiation so they were released.
As far as where I am currently, I want immediate cash flow so I have switched to buy and hold.. goal being light rehab. And the flips/BRRRR are going to take 5 months ish.
As for whats advertised, yes you have endless resources to answer every questions you could think of or problem you come across. To have success at this, you have to underwrite deals that are sent over quickly plus find your own! and make offers as only a small percent will close. So to answer your question yes your acquisitions person can send plenty of deals and if theres not enough coming through for your liking in the market they put you in they can add another market! So yes scalable, but it comes down to your effort honestly, I have been lax in that area :) so that why i'm not closing any volume of deals to report..
As for the last questions, I think I mentioned before that the whole reason I bought in was that building the team myself in multiple markets was going to take too much time and I wanted to shortcut that and Flipsystem is exactly that!
Thank you for getting back to me so quickly. I asked the last question figuring I knew the answer based on your other answers. I wanted to make sure even now that you’re doing it you still see the same value in the product as you did when you did the video call. Because I’m so excited with that value.
The only questions I have left are you said you’ve been lax. Do you just mean with being aggressive with analyzing deals and making offers? Also, it literally seems like everything is done for you and you just make the offer, put together funding, give the go ahead on projects. What is the ongoing work within the project? Just answering calls when problems come up?
Once you guys have success with the program please report back.. market is super tough right now to hit all the numbers that are going to allow a passive investor profit you have to beat out those in the bizz.. Like the one person realized when he spent the money put two into escrow paid for inspections EMD and time and then they did not work.. now your into this close to 20k and still have not bought anything.. I know how cool these sales pitchs are and the ra ra ra let us do it all just sit back but geesh that really so far from reality.. Careful. - Member since 2021 · 7 posts · 8 votes3y
Quote from @Jay Hinrichs:
Quote from @David Istanich:
Quote from @Max S.:
Quote from @David Istanich:
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
Hey David! Glad to help, I had two deals under contract in Cleveland but once inspection came back and the agents GC walked through we identified more cost to rehab than factored and we asked for price reduction but sellers held at their price and couldn't come to negotiation so they were released.
As far as where I am currently, I want immediate cash flow so I have switched to buy and hold.. goal being light rehab. And the flips/BRRRR are going to take 5 months ish.
As for whats advertised, yes you have endless resources to answer every questions you could think of or problem you come across. To have success at this, you have to underwrite deals that are sent over quickly plus find your own! and make offers as only a small percent will close. So to answer your question yes your acquisitions person can send plenty of deals and if theres not enough coming through for your liking in the market they put you in they can add another market! So yes scalable, but it comes down to your effort honestly, I have been lax in that area :) so that why i'm not closing any volume of deals to report..
As for the last questions, I think I mentioned before that the whole reason I bought in was that building the team myself in multiple markets was going to take too much time and I wanted to shortcut that and Flipsystem is exactly that!
Thank you for getting back to me so quickly. I asked the last question figuring I knew the answer based on your other answers. I wanted to make sure even now that you’re doing it you still see the same value in the product as you did when you did the video call. Because I’m so excited with that value.
The only questions I have left are you said you’ve been lax. Do you just mean with being aggressive with analyzing deals and making offers? Also, it literally seems like everything is done for you and you just make the offer, put together funding, give the go ahead on projects. What is the ongoing work within the project? Just answering calls when problems come up?
Once you guys have success with the program please report back.. market is super tough right now to hit all the numbers that are going to allow a passive investor profit you have to beat out those in the bizz.. Like the one person realized when he spent the money put two into escrow paid for inspections EMD and time and then they did not work.. now your into this close to 20k and still have not bought anything.. I know how cool these sales pitchs are and the ra ra ra let us do it all just sit back but geesh that really so far from reality.. Careful.I get where you’re coming from @Jay Hinrichs. I've flipped houses locally in Florida but never got traction with marketing on all the techniques every big time investor I knew recommended over the last 5 years. They all said takes 6 months for the marketing to get traction and provide a pipeline. Well after my first flip I spent the profits to build my pipeline. After 6 months and 20k later I had nothing. Not one deal. I only flip maybe one house a year in Florida from a wholesaler if I'm lucky. I've moved into the Ohio market wholesaling and have had some marketing success with much cheaper spending. I've kept 3 of my own turn key rentals. But I'm always disappointed letting some of these deals go and not BRRRR or flip them myself. Of course I can't do that because I'm virtual and can't see projects or ever be there to meet anyone and build relations. I work full time and won't quit so I can't ever go up there. I have a job where the end is better than the long haul. My pension will set me for life. I need extra money now. If I'm bringing my own deals plus his, and I'm paying a 1 time fee of 15k to do so, I don't see how I can possibly go wrong. NO ONE gives you their contractors because they can't afford to lose them. Even when you pay 15-25k for these big time gurus programs you only get info and MAYBE private money if you're lucky.
I know you’re highly experienced. And maybe you see something I am missing. But I’m willing to pay a team one time fee because I highly think it would cost me WAY more money and time to build something like this myself if I ever even could because I’m not local and never will be. And I’m only willing to do this because of the answers received on this post. Knowing that his product is real and not just knowledge. I’ve obtained the knowledge. I need the team at this point.
I’m jumping on the call again today for some more questions I have for them. But I’ll definitely report back once I get started. Even if it’s a sham and I have to complete a deal or two to recoup my money and part ways, I’m okay with that. I don’t see how I wouldn’t at least get my money back. - Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes3y
Hey, Yes, too much time passed and the deals went pending. Everything is not done for you, no, you have two options on the pipeline, acquisitions will send you deals or you can find your own and analyze. The deals are put in the CRM with PP/Rehab est/Rent/Tax/ins basic info and there are some auto calcs for other holding costs (you enter timeframe) and financing costs (based on if you are doing HML/PML or cash).
YOU verify the info based on education/training. YOU also enter financing for the deal and financing for the sale (to investor). YOU also manage rehab draws and getting all docs needed for all processes. You definitely have help all along the way but no it is not done for you, best way to learn!
@Jay Hinrichs That was me! I'd been meaning to reply. Watched your BP podcast from years back, great information. I do agree with your comments market is tough! I wish I had some direct data to chime in with on the flipping portion. I will ask those in the group that have done a few to make a post of their experience as well! And yes, so far with entry and crm monthly and the two inspections, $17k 3mos time, I was able to get earnest back.. - 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @David Istanich:
Quote from @Jay Hinrichs:
Quote from @David Istanich:
Quote from @Max S.:
Quote from @David Istanich:
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
Hey David! Glad to help, I had two deals under contract in Cleveland but once inspection came back and the agents GC walked through we identified more cost to rehab than factored and we asked for price reduction but sellers held at their price and couldn't come to negotiation so they were released.
As far as where I am currently, I want immediate cash flow so I have switched to buy and hold.. goal being light rehab. And the flips/BRRRR are going to take 5 months ish.
As for whats advertised, yes you have endless resources to answer every questions you could think of or problem you come across. To have success at this, you have to underwrite deals that are sent over quickly plus find your own! and make offers as only a small percent will close. So to answer your question yes your acquisitions person can send plenty of deals and if theres not enough coming through for your liking in the market they put you in they can add another market! So yes scalable, but it comes down to your effort honestly, I have been lax in that area :) so that why i'm not closing any volume of deals to report..
As for the last questions, I think I mentioned before that the whole reason I bought in was that building the team myself in multiple markets was going to take too much time and I wanted to shortcut that and Flipsystem is exactly that!
Thank you for getting back to me so quickly. I asked the last question figuring I knew the answer based on your other answers. I wanted to make sure even now that you’re doing it you still see the same value in the product as you did when you did the video call. Because I’m so excited with that value.
The only questions I have left are you said you’ve been lax. Do you just mean with being aggressive with analyzing deals and making offers? Also, it literally seems like everything is done for you and you just make the offer, put together funding, give the go ahead on projects. What is the ongoing work within the project? Just answering calls when problems come up?
Once you guys have success with the program please report back.. market is super tough right now to hit all the numbers that are going to allow a passive investor profit you have to beat out those in the bizz.. Like the one person realized when he spent the money put two into escrow paid for inspections EMD and time and then they did not work.. now your into this close to 20k and still have not bought anything.. I know how cool these sales pitchs are and the ra ra ra let us do it all just sit back but geesh that really so far from reality.. Careful.I get where you’re coming from @Jay Hinrichs. I've flipped houses locally in Florida but never got traction with marketing on all the techniques every big time investor I knew recommended over the last 5 years. They all said takes 6 months for the marketing to get traction and provide a pipeline. Well after my first flip I spent the profits to build my pipeline. After 6 months and 20k later I had nothing. Not one deal. I only flip maybe one house a year in Florida from a wholesaler if I'm lucky. I've moved into the Ohio market wholesaling and have had some marketing success with much cheaper spending. I've kept 3 of my own turn key rentals. But I'm always disappointed letting some of these deals go and not BRRRR or flip them myself. Of course I can't do that because I'm virtual and can't see projects or ever be there to meet anyone and build relations. I work full time and won't quit so I can't ever go up there. I have a job where the end is better than the long haul. My pension will set me for life. I need extra money now. If I'm bringing my own deals plus his, and I'm paying a 1 time fee of 15k to do so, I don't see how I can possibly go wrong. NO ONE gives you their contractors because they can't afford to lose them. Even when you pay 15-25k for these big time gurus programs you only get info and MAYBE private money if you're lucky.
I know you’re highly experienced. And maybe you see something I am missing. But I’m willing to pay a team one time fee because I highly think it would cost me WAY more money and time to build something like this myself if I ever even could because I’m not local and never will be. And I’m only willing to do this because of the answers received on this post. Knowing that his product is real and not just knowledge. I’ve obtained the knowledge. I need the team at this point.
I’m jumping on the call again today for some more questions I have for them. But I’ll definitely report back once I get started. Even if it’s a sham and I have to complete a deal or two to recoup my money and part ways, I’m okay with that. I don’t see how I wouldn’t at least get my money back.
Cool let us all know how it goes.. one thing I do know though if your going to do flips with borrowed money and your margins are 10k if it all goes good that is a loser all day long. So just be careful is all I am saying.. I have one client in B ham that used to do the same thing for a flat fee of 6k and you only paid once you closed your deal he did the rest. He built some pretty nice portfolios for CA investors.. We used to own 50 homes together so I know his quality and how he ran his deals.
what I worry about is when its up front payment and how many people are paying .. this company could easily get over loaded and as we all know there is a finite amount of contractors in these marekts that are worth a dam. - Member since 2021 · 7 posts · 8 votes3y
Quote from @Jay Hinrichs:
Quote from @David Istanich:
Quote from @Jay Hinrichs:
Quote from @David Istanich:
Quote from @Max S.:
Quote from @David Istanich:
Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price.
I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member?
Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
Hey David! Glad to help, I had two deals under contract in Cleveland but once inspection came back and the agents GC walked through we identified more cost to rehab than factored and we asked for price reduction but sellers held at their price and couldn't come to negotiation so they were released.
As far as where I am currently, I want immediate cash flow so I have switched to buy and hold.. goal being light rehab. And the flips/BRRRR are going to take 5 months ish.
As for whats advertised, yes you have endless resources to answer every questions you could think of or problem you come across. To have success at this, you have to underwrite deals that are sent over quickly plus find your own! and make offers as only a small percent will close. So to answer your question yes your acquisitions person can send plenty of deals and if theres not enough coming through for your liking in the market they put you in they can add another market! So yes scalable, but it comes down to your effort honestly, I have been lax in that area :) so that why i'm not closing any volume of deals to report..
As for the last questions, I think I mentioned before that the whole reason I bought in was that building the team myself in multiple markets was going to take too much time and I wanted to shortcut that and Flipsystem is exactly that!
Thank you for getting back to me so quickly. I asked the last question figuring I knew the answer based on your other answers. I wanted to make sure even now that you’re doing it you still see the same value in the product as you did when you did the video call. Because I’m so excited with that value.
The only questions I have left are you said you’ve been lax. Do you just mean with being aggressive with analyzing deals and making offers? Also, it literally seems like everything is done for you and you just make the offer, put together funding, give the go ahead on projects. What is the ongoing work within the project? Just answering calls when problems come up?
Once you guys have success with the program please report back.. market is super tough right now to hit all the numbers that are going to allow a passive investor profit you have to beat out those in the bizz.. Like the one person realized when he spent the money put two into escrow paid for inspections EMD and time and then they did not work.. now your into this close to 20k and still have not bought anything.. I know how cool these sales pitchs are and the ra ra ra let us do it all just sit back but geesh that really so far from reality.. Careful.I get where you’re coming from @Jay Hinrichs. I've flipped houses locally in Florida but never got traction with marketing on all the techniques every big time investor I knew recommended over the last 5 years. They all said takes 6 months for the marketing to get traction and provide a pipeline. Well after my first flip I spent the profits to build my pipeline. After 6 months and 20k later I had nothing. Not one deal. I only flip maybe one house a year in Florida from a wholesaler if I'm lucky. I've moved into the Ohio market wholesaling and have had some marketing success with much cheaper spending. I've kept 3 of my own turn key rentals. But I'm always disappointed letting some of these deals go and not BRRRR or flip them myself. Of course I can't do that because I'm virtual and can't see projects or ever be there to meet anyone and build relations. I work full time and won't quit so I can't ever go up there. I have a job where the end is better than the long haul. My pension will set me for life. I need extra money now. If I'm bringing my own deals plus his, and I'm paying a 1 time fee of 15k to do so, I don't see how I can possibly go wrong. NO ONE gives you their contractors because they can't afford to lose them. Even when you pay 15-25k for these big time gurus programs you only get info and MAYBE private money if you're lucky.
I know you’re highly experienced. And maybe you see something I am missing. But I’m willing to pay a team one time fee because I highly think it would cost me WAY more money and time to build something like this myself if I ever even could because I’m not local and never will be. And I’m only willing to do this because of the answers received on this post. Knowing that his product is real and not just knowledge. I’ve obtained the knowledge. I need the team at this point.
I’m jumping on the call again today for some more questions I have for them. But I’ll definitely report back once I get started. Even if it’s a sham and I have to complete a deal or two to recoup my money and part ways, I’m okay with that. I don’t see how I wouldn’t at least get my money back.
Cool let us all know how it goes.. one thing I do know though if your going to do flips with borrowed money and your margins are 10k if it all goes good that is a loser all day long. So just be careful is all I am saying.. I have one client in B ham that used to do the same thing for a flat fee of 6k and you only paid once you closed your deal he did the rest. He built some pretty nice portfolios for CA investors.. We used to own 50 homes together so I know his quality and how he ran his deals.
what I worry about is when its up front payment and how many people are paying .. this company could easily get over loaded and as we all know there is a finite amount of contractors in these marekts that are worth a dam.Yeah that’s true. That was one of my questions. How many clients they have. And if they will cap the amount of members in markets at some point. It’s only been around for 1 year and only about 15 clients per market right now. I’ll let you know how it goes.
- Grand Rapids, MI · Member since 2019 · 19 posts · 4 votes3y
@David Istanich can’t wait to hear about your call.
This has been a remarkably helpful and insightful thread!
- Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes3y
Nothing brings out “new” members like a GURU post. Appreciate your efforts to educate as always
Anyone doing flips with a $10-20k margin using hard money especially will be caught holding the bag more often than not now that the market has turned. So besides the $15k upfront how much do y’all I mean they charge to manage each deal?
- Member since 2021 · 7 posts · 8 votes3y
Quote from @Greg H.:
Nothing brings out “new” members like a GURU post. Appreciate your efforts to educate as always
Anyone doing flips with a $10-20k margin using hard money especially will be caught holding the bag more often than not now that the market has turned. So besides the $15k upfront how much do y’all I mean they charge to manage each deal?
@Greg H. LOL I have been on and off bigger pockets since 2017 with my first email which was my college email. I no longer have access to that. After taking my video sales call with this program it seemed to good to be true and I had to verify. Theres literally no external reviews on this program except this post. I needed to comment on this post to see if the system is true or a scam. So I needed to create a new account under my business email to respond. The only reason I'm responding to this nonsense is because I really do enjoy helping people. If my future experience helps people whether it's positive or negative then I'm happy. And I don't want to be discredited by someone.
So please feel free to verify my old account has the same name as this one. My email was dista001(at)fiu(dot)edu. Please email support to verify as well if you can't look it up on your own. I believe I even had convos with Jay back then whether it was PM or on posts, I was asking him for help if I remember right.
Anyways, to answer your question. If you bring your own deals in then you will never be charged any fees or percentages of profit. It is literally the one time fee of 15k to have access to flipping teams in 13 markets. I could never build that myself. But I can build marketing in those markets. I'm tired of marketing and taking risks with virtual wholesale deals for 1-8k profits. Of course I hit homeruns but not as commonly as I hit little deals. One thing I never do is back out on sellers when I can't find a buyer. I either ask to extend or I buy myself. Which ties up all my money and I have to stop marketing until I sell the property for little profit after closing. I know this isn't the smartest but it's integrity to me. I will never screw a seller like a lot of these virtual wholesalers who are ruining the game with tons of excessive marketing then backing out on deals when they can't move them. So for me, thats exciting that I'll never have to put myself at risk of holding a property waiting for an end buyer. Plus, I can now BRRRR my marketing properties to build my portfolio. I hate having to buy turnkey rentals because I don't have rehab teams I can trust in the markets I like rentals for. However, if you do use the deals from the CRM that they upload for you then yes, you pay a 1k fee upon your exit strategy whether sell or refi.
- Rental Property Investor · San Francisco Bay Area · Member since 2022 · 1k+ posts · 1k+ votes3y
Quote from @Jay Hinrichs:
Quote from @Max S.:
Master Jay! Agree you should factor ups and downs when using this system!Quote from @Jay Hinrichs:
if your hoping to make 10k per deal.. then you need to really re think this one small boo boo and your going to lose 10k per deal or more.. 10k is simply way to tight in the flipping bizz.. I have done as many deals as martel over the same period of time.. and you dont make money on every one you will have losers that is certain.. so be careful. Just sayin. based on over 2k flips under my belt.
So, with lots of potential FS customers following and viewing this thread to see if it's for them, what would be your advice on how to best win and be profitable using a system like this or just your advice in general on flipping currently? Again, this system is designed as a shortcut to acquire knowledge/management/financing in already vetted markets.
The goal with FS, high level, is to target 70-90k purchased homes in midwest markets and add 20-40k of value to sell turnkey rental for a 10-15K profit.
Thanks!
cost to sell are going to be 10 to 15% minimum to plug into TK resellers pipe lines..
have you run the numbers lets say purchase rehab is:
PP 70k
rehab 30k pretty average in that age class assets in Cleveland ( keep in mind I funded over 300 deals in Cleveland personally in the last few years so I do have some experience in that market).
So 100k all in.
Cost of capital 2 points 12% plus your going to need at least 30k in cash to pull this off.
lets say your super good at what you do and can do it all in 6 months.
2 points 2k 12k 6 months 6k for total of 8k HML will hit you with another 2k to 3k in junk fees so thats really 10k in borrower costs.
tAx's lets say 1k for 6 months.
Closing costs when ou buy 1,500 to 2k
Clsoing costs including commish and seller concessions and title and escrow at least 10%
Utls and insurance 1500.00
10k profit So that all adds up to an exit sales price that needs to be at least
124,500 hard costs and now you need to sell for 130k to 140k to make your profit.
and given where investor want to be they want 1% rule or .08 so use 1% for easy math they want that house to rent for 1300 to 1400. pretty tough to do in Cleveland on asssets bought at 70k.
anything goes wrong like over run on rehab ( which is super common as we all know) something gets stolen ( very common ) bad contractor ( very common dont care how well vetted they are) and or it takes 2 to 4 months longer holding costs go up by 3 to 5 k.. so any of these things hit you and 10k is poof.. gone plus you dont live there. those that live there and can really control the outcomes might make this work.. but relying on others to do this for you.. well in my mind pretty risky. Just sayin.. but hey try a few and see if its worth it to you.. If U do well then that will be great. However just be aware of the real risk of remote BRRR no matter who the team is.Jay, this breakdown is really helpful. I didn't sign up with FlipSystem since I thought putting my $15,000 towards down payment or renovation costs was better for my situation. I did a local renovation (my first reno) where I was on site at least every week and I went way over the initial estimate but now I've have this SFH that's rented out with lots of equity in California now. I'm risk averse so I bought a turnkey SFH in the Indianapolis area less than 6 months ago. I have analyzed numbers on at least 4 different properties in Indianapolis metro area to try to flip (exit strategy hold as a rental) and build more capital. Seller wouldn't go lower on my offer price so I walked away on SFH #1. This is way more challenging than what the gurus are saying, buy in the Midwest and flip or BRRRR and I'm relying on my team since I can't be there in person, maybe 2 to 3 times a year.
I agree that a $10,000 profit (before paying ordinary income tax to the IRS) is way too small. I'm aiming for $30,000 minimum or 10% on the ARV, which is $300,000 for one property I used. Bare minimum for me is $20,000 after a flip (before IRS taxes). For $10,000 profit or less, save all the hassle or do passive investing with a debt fund with $25,000 to $50,000 in and get 6% return or $100,000 or more an 8% return or buy some index funds or high yield savings account (I know I shouldn't say that as a RE investor). Those numbers are better return than trying to buy turnkey in Indianapolis and cash flow $0 to %120 at 7.65% interest rate for 30 year conventional right now but I don't get the property appreciation and tax benefits.
On Antoine Martel's ad, it says 30 day money back guarantee so it seems like if you're not happy in the beginning you can get your $15,000 back. Interested in hearing how FlipSystem works for Max once you get a property and David, if you proceed. Good luck!
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Becca F.:
Quote from @Jay Hinrichs:
Quote from @Max S.:
Master Jay! Agree you should factor ups and downs when using this system!Quote from @Jay Hinrichs:
if your hoping to make 10k per deal.. then you need to really re think this one small boo boo and your going to lose 10k per deal or more.. 10k is simply way to tight in the flipping bizz.. I have done as many deals as martel over the same period of time.. and you dont make money on every one you will have losers that is certain.. so be careful. Just sayin. based on over 2k flips under my belt.
So, with lots of potential FS customers following and viewing this thread to see if it's for them, what would be your advice on how to best win and be profitable using a system like this or just your advice in general on flipping currently? Again, this system is designed as a shortcut to acquire knowledge/management/financing in already vetted markets.
The goal with FS, high level, is to target 70-90k purchased homes in midwest markets and add 20-40k of value to sell turnkey rental for a 10-15K profit.
Thanks!
cost to sell are going to be 10 to 15% minimum to plug into TK resellers pipe lines..
have you run the numbers lets say purchase rehab is:
PP 70k
rehab 30k pretty average in that age class assets in Cleveland ( keep in mind I funded over 300 deals in Cleveland personally in the last few years so I do have some experience in that market).
So 100k all in.
Cost of capital 2 points 12% plus your going to need at least 30k in cash to pull this off.
lets say your super good at what you do and can do it all in 6 months.
2 points 2k 12k 6 months 6k for total of 8k HML will hit you with another 2k to 3k in junk fees so thats really 10k in borrower costs.
tAx's lets say 1k for 6 months.
Closing costs when ou buy 1,500 to 2k
Clsoing costs including commish and seller concessions and title and escrow at least 10%
Utls and insurance 1500.00
10k profit So that all adds up to an exit sales price that needs to be at least
124,500 hard costs and now you need to sell for 130k to 140k to make your profit.
and given where investor want to be they want 1% rule or .08 so use 1% for easy math they want that house to rent for 1300 to 1400. pretty tough to do in Cleveland on asssets bought at 70k.
anything goes wrong like over run on rehab ( which is super common as we all know) something gets stolen ( very common ) bad contractor ( very common dont care how well vetted they are) and or it takes 2 to 4 months longer holding costs go up by 3 to 5 k.. so any of these things hit you and 10k is poof.. gone plus you dont live there. those that live there and can really control the outcomes might make this work.. but relying on others to do this for you.. well in my mind pretty risky. Just sayin.. but hey try a few and see if its worth it to you.. If U do well then that will be great. However just be aware of the real risk of remote BRRR no matter who the team is.Jay, this breakdown is really helpful. I didn't sign up with FlipSystem since I thought putting my $15,000 towards down payment or renovation costs was better for my situation. I did a local renovation (my first reno) where I was on site at least every week and I went way over the initial estimate but now I've have this SFH that's rented out with lots of equity in California now. I'm risk averse so I bought a turnkey SFH in the Indianapolis area less than 6 months ago. I have analyzed numbers on at least 4 different properties in Indianapolis metro area to try to flip (exit strategy hold as a rental) and build more capital. Seller wouldn't go lower on my offer price so I walked away on SFH #1. This is way more challenging than what the gurus are saying, buy in the Midwest and flip or BRRRR and I'm relying on my team since I can't be there in person, maybe 2 to 3 times a year.
I agree that a $10,000 profit (before paying ordinary income tax to the IRS) is way too small. I'm aiming for $30,000 minimum or 10% on the ARV, which is $300,000 for one property I used. Bare minimum for me is $20,000 after a flip (before IRS taxes). For $10,000 profit or less, save all the hassle or do passive investing with a debt fund with $25,000 to $50,000 in and get 6% return or $100,000 or more an 8% return or buy some index funds or high yield savings account (I know I shouldn't say that as a RE investor). Those numbers are better return than trying to buy turnkey in Indianapolis and cash flow $0 to %120 at 7.65% interest rate for 30 year conventional right now but I don't get the property appreciation and tax benefits.
On Antoine Martel's ad, it says 30 day money back guarantee so it seems like if you're not happy in the beginning you can get your $15,000 back. Interested in hearing how FlipSystem works for Max once you get a property and David, if you proceed. Good luck!
frankly 30 days is meaningless.. takes far more than 30 days to figure out the risk profiles etc. Sounds good.. second someone would ask for money back i am sure the company would say you have not given it enough time.. Now if they had a 6 month money back that would be something all together different. - Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes3y
Quote from @Jay Hinrichs:
frankly 30 days is meaningless.. takes far more than 30 days to figure out the risk profiles etc. Sounds good.. second someone would ask for money back i am sure the company would say you have not given it enough time.. Now if they had a 6 month money back that would be something all together different.Correct some like me need more time, and yes they extended my contract to 180days as they are pushing for success!
- 3yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Max S.:
Quote from @Jay Hinrichs:
frankly 30 days is meaningless.. takes far more than 30 days to figure out the risk profiles etc. Sounds good.. second someone would ask for money back i am sure the company would say you have not given it enough time.. Now if they had a 6 month money back that would be something all together different.Correct some like me need more time, and yes they extended my contract to 180days as they are pushing for success!
perfect thats very fair you should know within 6 months if this is going to work for u. As I said do report back and let us all know how its going Of course you probably wont have your first deal done cradle to grave for at least 9 to 12 months to really know how it all goes.. My teams there in Cleveland do 2 to 4 a month with me and I am just one lender they use.. so they are your competition :) Although they are particular where they buy they wont buy any hood stuff. - Real Estate Agent · San Diego, CA · Member since 2015 · 190 posts · 77 votes3y
Quote from @Kelsie Wadsworth:
Quote from @Kelsie Wadsworth:
I just joined FlipSystem. I can give a report here as I go on how it is.
So far so good, they set me up with Sean Potts as my coach. He connected me with a property manager and realtor in Detroit after helping me select it as the right market for me according to my budget, goals and risk tolerance. He said he has never gotten any negative feedback back from students about those he has connected me with, and they've been good for me so far—they have already been very responsive, like within minutes, to my emails. The whole Flipsystem community communicates through Discord, and I see my questions answered almost immediately there! Including from Antoine himself. they are creating an LLC for me that will be 100% free for the first 12 months. I am still 100% fresh, but so far it seems legit and I am getting really excited.
Have you gotten any properties under contract since you started?
- Member since 2023 · 2 posts · 4 votes3y
"Don't join FlipSystem, it is mostly like a scam, and you can't get your money back.
They will ask you to pay $15,000 in order to join their platform; they call it a SaaS setup fee. Additionally, you have to pay $200/month for using their calculator? I believe the value of the REI calculator is about $9/month as software. How dare they charge $200 for that? Also, for each property you buy (and not successfully sold yet), they will bill you $1,000. What's more? They will ask you to use all their agents, lenders (their lender charges much more than a regular lender, HML charges like 3.5% points fees), and contractors. Basically, you are paying $15,000 to join and invest. All the risk is on top of you, and no matter if you win or lose, they're going to tax you at each stage. 🥲😅.
I did my first deal remotely in Ohio, but haven't sold it yet, since that region doesn't have too much population. I felt like that's not for me. I'm trying to ask for a refund, but they just don't respond anymore. When you pay the $15,000, they will ask you to sign a very restrictive contract that only benefits them. Legally, you can't get a refund.
Just be very careful about this system; all the resources they provide, you can get by making a few phone calls to local agents. You'll get in touch with people like agents, property managers, contractors, etc. So why pay them $15,000? And become their slaves in the future?
How much do I think FlipSystem is worth? I think it's about $3,000, not $15,000. They really can't charge $200/month for just a calculator and call that a SaaS service. 🤣
- Rental Property Investor · Vancouver, WA · Member since 2014 · 68 posts · 37 votes3y
@Kelsie Wadsworth how did it go?
- Investor · Detroit, MI · Member since 2019 · 1 post · 0 votes3y
Quote from @Max S.:
Jumping in here, I have gone through the calls for this system as I am very interested in the Flipsystem. After reading the above, here are my thoughts:
The flip system costs $15K one time to get in (at time of this post), and a couple hundred a month to use the proprietary CRM for managing deals.
The reason I am interested in this is it is an all in one package. They provide vetted deal flow, multiple vetted financing providers hard money etc, multiple vetted contractors and agents, Vetted PMs and more in the target market. He came from the turnkey space in those markets so he's offering those resources he has already been using to sell the turnkey homes.
Yes, as a few have mentioned, it is very possible to get these resources on your own but the goal here is to shortcut that.. and if you have the $ to do so you can save a lot of time... And for those with full time W2s/families etc, that time is valuable.
Of course there is some kick back in all these but why is that an issue? They put in the time to get the resources so you don't have to!
They also have one on one calls available for free with the mentors when you need to help with any questions and a weekly all group call and a discord for members to answer questions from experience. Creates a good community mindset IMO.
As for the options, there are a few exit strategies, flip and sell, flip and sell turnkey, BRRRR
If I do end up joining, I will reply back with my experience!
Did you buy or pass?
- Grand Rapids, MI · Member since 2019 · 19 posts · 4 votes3y
@Kelsie Wadsworth how’s it going?
- Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes3yHey Darryl!
Quote from @Darryl Cooper:
Quote from @Max S.:
Jumping in here, I have gone through the calls for this system as I am very interested in the Flipsystem. After reading the above, here are my thoughts:
The flip system costs $15K one time to get in (at time of this post), and a couple hundred a month to use the proprietary CRM for managing deals.
The reason I am interested in this is it is an all in one package. They provide vetted deal flow, multiple vetted financing providers hard money etc, multiple vetted contractors and agents, Vetted PMs and more in the target market. He came from the turnkey space in those markets so he's offering those resources he has already been using to sell the turnkey homes.
Yes, as a few have mentioned, it is very possible to get these resources on your own but the goal here is to shortcut that.. and if you have the $ to do so you can save a lot of time... And for those with full time W2s/families etc, that time is valuable.
Of course there is some kick back in all these but why is that an issue? They put in the time to get the resources so you don't have to!
They also have one on one calls available for free with the mentors when you need to help with any questions and a weekly all group call and a discord for members to answer questions from experience. Creates a good community mindset IMO.
As for the options, there are a few exit strategies, flip and sell, flip and sell turnkey, BRRRR
If I do end up joining, I will reply back with my experience!
Did you buy or pass?
I have been in the system for a few months getting close to closing my first deal!
Happy to chat more about it if you need! Just send me a msg!
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