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
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 735 votes2y
Quote from @James Wise:
Quote from @James Wise:
Quote from @Nate Marshall:
Quote from @Jay Hinrichs:
Quote from @Antoine Martel:
Hey Becca, Antoine here (owner of FlipSystem and MartelTurnkey). If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well). Essentially that is exactly what we are doing with FlipSystem, leveraging the teams we built with MartelTurnkey that have helped us flip over 650 homes, and providing the same backend systems, support, and contacts to our FlipSystem clients to help them do the same. We have found that a lot of investors do not have proven resources in other markets/states and that the value we provide to them with those teams and systems in place is worth the investment. As you mentioned, there is a ton of research that is involved in flipping out of state, and we strive to significantly reduce that time spent researching by providing our 10+ years experience of successfully flipping hundreds of homes in out of state markets. A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies. Ideally if one of your flips does not go exactly according to plan, you can always refinance it and hold it as a cash-flowing rental. I hope your portfolio continues to grow with your existing team and that they can get a few flips going for you as well.Quote from @Becca F.:
I also got on a call with them in January and that’s exactly what they told me $15,000. I decided not to join and if I decide to do a flip I’ll talk to my Indiana realtor and her team of contractors and vendors. I know that market much better than the markets Antoine mentioned (Ohio, Michigan). I figured the $15,000 I would have spent on Flip System I would use that money to help renovate an Indiana SFH. Right now I’m buy and hold long term rentals, would consider a flip but need to do lots of research.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!
Antoine,
Just fact checking you here.. In one post you said you were doing 50 turn keys a month
and then you say you have been doing this for 10 years ( which I have seen you around for 10 years so I think that checks out) but now you say you have done 650 flips.. ???
I have been funding turnkey as a A and D lender since 2002 over 3000 transactions.. I have yet to see anyone actually do 50 a month.. 5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets.
650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages Just sayin.He is just making up numbers Jay. Just like Madoff did for his victims. He can't even keep them straight, Might want to find an app to keep his lies and fraud straight.
Saw him talk about doing 20-30 flips a month in this thread as well. That also doesn't jive with the 650 flips over 10yrs.
650 over a decade, 65 flips a year, that's a lot, bit it's doable. 20, 30 or 50 flips a month.....Lol, I'd be shocked if I saw anyone come close to that type of volume. That's just wildely unrealistic.
A bit disappointing that @Antoine Martel hasn't clarified the number discrepancy's. Seems like an odd time to go dark on a thread he was so active in. I'd imagine a lot of people would like clarification on those discrepancy's that were noticed in the thread.
He has been called out by one of his own students or mentees as well.
GENTLY WITH A CHAINSAW
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @Nate Marshall:
Quote from @James Wise:
Quote from @James Wise:
Quote from @Nate Marshall:
Quote from @Jay Hinrichs:
Quote from @Antoine Martel:
Hey Becca, Antoine here (owner of FlipSystem and MartelTurnkey). If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well). Essentially that is exactly what we are doing with FlipSystem, leveraging the teams we built with MartelTurnkey that have helped us flip over 650 homes, and providing the same backend systems, support, and contacts to our FlipSystem clients to help them do the same. We have found that a lot of investors do not have proven resources in other markets/states and that the value we provide to them with those teams and systems in place is worth the investment. As you mentioned, there is a ton of research that is involved in flipping out of state, and we strive to significantly reduce that time spent researching by providing our 10+ years experience of successfully flipping hundreds of homes in out of state markets. A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies. Ideally if one of your flips does not go exactly according to plan, you can always refinance it and hold it as a cash-flowing rental. I hope your portfolio continues to grow with your existing team and that they can get a few flips going for you as well.Quote from @Becca F.:
I also got on a call with them in January and that’s exactly what they told me $15,000. I decided not to join and if I decide to do a flip I’ll talk to my Indiana realtor and her team of contractors and vendors. I know that market much better than the markets Antoine mentioned (Ohio, Michigan). I figured the $15,000 I would have spent on Flip System I would use that money to help renovate an Indiana SFH. Right now I’m buy and hold long term rentals, would consider a flip but need to do lots of research.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!
Antoine,
Just fact checking you here.. In one post you said you were doing 50 turn keys a month
and then you say you have been doing this for 10 years ( which I have seen you around for 10 years so I think that checks out) but now you say you have done 650 flips.. ???
I have been funding turnkey as a A and D lender since 2002 over 3000 transactions.. I have yet to see anyone actually do 50 a month.. 5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets.
650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages Just sayin.He is just making up numbers Jay. Just like Madoff did for his victims. He can't even keep them straight, Might want to find an app to keep his lies and fraud straight.
Saw him talk about doing 20-30 flips a month in this thread as well. That also doesn't jive with the 650 flips over 10yrs.
650 over a decade, 65 flips a year, that's a lot, bit it's doable. 20, 30 or 50 flips a month.....Lol, I'd be shocked if I saw anyone come close to that type of volume. That's just wildely unrealistic.
A bit disappointing that @Antoine Martel hasn't clarified the number discrepancy's. Seems like an odd time to go dark on a thread he was so active in. I'd imagine a lot of people would like clarification on those discrepancy's that were noticed in the thread.
He has been called out by one of his own students or mentees as well.
GENTLY WITH A CHAINSAW
Well to clarify I don't know that I called him out. I'm just stating that there were discrepancies that need to be explained.
There could be a legit explanation, or there might not be. I'd like to hear what he has to say. People come on BP and bash providers all the time, sometimes with merit, sometimes without.
Not providing an explanation would certainly speak volumes though.
- 2yChris ClothierBusiness MemberRental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
Quote from @James Wise:
Quote from @James Wise:
Quote from @Nate Marshall:
Quote from @Jay Hinrichs:
Quote from @Antoine Martel:
Hey Becca, Antoine here (owner of FlipSystem and MartelTurnkey). If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well). Essentially that is exactly what we are doing with FlipSystem, leveraging the teams we built with MartelTurnkey that have helped us flip over 650 homes, and providing the same backend systems, support, and contacts to our FlipSystem clients to help them do the same. We have found that a lot of investors do not have proven resources in other markets/states and that the value we provide to them with those teams and systems in place is worth the investment. As you mentioned, there is a ton of research that is involved in flipping out of state, and we strive to significantly reduce that time spent researching by providing our 10+ years experience of successfully flipping hundreds of homes in out of state markets. A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies. Ideally if one of your flips does not go exactly according to plan, you can always refinance it and hold it as a cash-flowing rental. I hope your portfolio continues to grow with your existing team and that they can get a few flips going for you as well.Quote from @Becca F.:
I also got on a call with them in January and that’s exactly what they told me $15,000. I decided not to join and if I decide to do a flip I’ll talk to my Indiana realtor and her team of contractors and vendors. I know that market much better than the markets Antoine mentioned (Ohio, Michigan). I figured the $15,000 I would have spent on Flip System I would use that money to help renovate an Indiana SFH. Right now I’m buy and hold long term rentals, would consider a flip but need to do lots of research.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!
Antoine,
Just fact checking you here.. In one post you said you were doing 50 turn keys a month
and then you say you have been doing this for 10 years ( which I have seen you around for 10 years so I think that checks out) but now you say you have done 650 flips.. ???
I have been funding turnkey as a A and D lender since 2002 over 3000 transactions.. I have yet to see anyone actually do 50 a month.. 5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets.
650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages Just sayin.He is just making up numbers Jay. Just like Madoff did for his victims. He can't even keep them straight, Might want to find an app to keep his lies and fraud straight.
Saw him talk about doing 20-30 flips a month in this thread as well. That also doesn't jive with the 650 flips over 10yrs.
650 over a decade, 65 flips a year, that's a lot, bit it's doable. 20, 30 or 50 flips a month.....Lol, I'd be shocked if I saw anyone come close to that type of volume. That's just wildely unrealistic.
A bit disappointing that @Antoine Martel hasn't clarified the number discrepancy's. Seems like an odd time to go dark on a thread he was so active in. I'd imagine a lot of people would like clarification on those discrepancy's that were noticed in the thread.
Sorry for quoting on this and so many people being tagged. I wanted to take the opposite view though. I think Antoine has actually done a pretty good job with responding to actual clients and interested clients here on the forums. I don't know him personally, but I think I met the father in San Fransisco some years back and I do know the business name and that they have been around for a good bit of time. Enough time for the negatives to creep out and enter the BP universe and I don't see or hear a lot of negative about them.
I also don't see any discrepancies when you read each of his responses. It may not be crystal clear, but the way I read it is that at one time they completed 650 deals in a year. That is a few more than 50 a month. They made the decision to create a new business packaging their resources at a time when they were doing 20-30 a month. I read it like that occurred after they had grown to do 50 in a month. I could be wrong, but that is the way i read his responses and I simply went to his profile and read his exact posts without all the rest of the thread.
For reference since Jay mentioned it, REI at one point was completing 82 properties monthly with a high of 112 closed transactions in one month. Buying, renovating, leasing and selling. So you can find on here where I my have posted that we complete 80, or I may say close to 100 deals in a month. However, right this minute, we are not closing that many a month. We are closing closer to 60 a month and had reduced our footprint when interest rates were at their highest. We will continue to grow back to close to if not greater than 100 a month, but if someone wants to know the size and scale of our company and abilities, I am absolutely letting them know we have closed right at 1,000 properties in a year.
When answering questions in a two-dimensional forum where people are asking questions, business owners try and tell a story that gives as much of a picture as possible and context is sometimes difficult or lost in the way people read the responses. Antoine is simply a business person who sees an opportunity to create a business. I tip my hat to him. He gets to decide what price to charge for his service or product. The public will decide if its needed or worth it. And he gets to decide how to convey his history and story as long as he is not making it up out of thin air. That part, I have no way of knowing.
But, I don't fault the guy for not responding to everyone, especially not anyone that has no real interest in hearing from him or learning about his business. There are definitely commenters in this thread that could help Antoine and give him advice from their perspectives and expertise, but so far not much has really come across as genuine, in my opinion. So far, I think he has done a decent job of responding to what needs to be responded to.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @Chris Clothier:
Quote from @James Wise:
Quote from @James Wise:
Quote from @Nate Marshall:
Quote from @Jay Hinrichs:
Quote from @Antoine Martel:
Hey Becca, Antoine here (owner of FlipSystem and MartelTurnkey). If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well). Essentially that is exactly what we are doing with FlipSystem, leveraging the teams we built with MartelTurnkey that have helped us flip over 650 homes, and providing the same backend systems, support, and contacts to our FlipSystem clients to help them do the same. We have found that a lot of investors do not have proven resources in other markets/states and that the value we provide to them with those teams and systems in place is worth the investment. As you mentioned, there is a ton of research that is involved in flipping out of state, and we strive to significantly reduce that time spent researching by providing our 10+ years experience of successfully flipping hundreds of homes in out of state markets. A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies. Ideally if one of your flips does not go exactly according to plan, you can always refinance it and hold it as a cash-flowing rental. I hope your portfolio continues to grow with your existing team and that they can get a few flips going for you as well.Quote from @Becca F.:
I also got on a call with them in January and that’s exactly what they told me $15,000. I decided not to join and if I decide to do a flip I’ll talk to my Indiana realtor and her team of contractors and vendors. I know that market much better than the markets Antoine mentioned (Ohio, Michigan). I figured the $15,000 I would have spent on Flip System I would use that money to help renovate an Indiana SFH. Right now I’m buy and hold long term rentals, would consider a flip but need to do lots of research.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!
Antoine,
Just fact checking you here.. In one post you said you were doing 50 turn keys a month
and then you say you have been doing this for 10 years ( which I have seen you around for 10 years so I think that checks out) but now you say you have done 650 flips.. ???
I have been funding turnkey as a A and D lender since 2002 over 3000 transactions.. I have yet to see anyone actually do 50 a month.. 5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets.
650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages Just sayin.He is just making up numbers Jay. Just like Madoff did for his victims. He can't even keep them straight, Might want to find an app to keep his lies and fraud straight.
Saw him talk about doing 20-30 flips a month in this thread as well. That also doesn't jive with the 650 flips over 10yrs.
650 over a decade, 65 flips a year, that's a lot, bit it's doable. 20, 30 or 50 flips a month.....Lol, I'd be shocked if I saw anyone come close to that type of volume. That's just wildely unrealistic.
A bit disappointing that @Antoine Martel hasn't clarified the number discrepancy's. Seems like an odd time to go dark on a thread he was so active in. I'd imagine a lot of people would like clarification on those discrepancy's that were noticed in the thread.
Sorry for quoting on this and so many people being tagged. I wanted to take the opposite view though. I think Antoine has actually done a pretty good job with responding to actual clients and interested clients here on the forums. I don't know him personally, but I think I met the father in San Fransisco some years back and I do know the business name and that they have been around for a good bit of time. Enough time for the negatives to creep out and enter the BP universe and I don't see or hear a lot of negative about them.
I also don't see any discrepancies when you read each of his responses. It may not be crystal clear, but the way I read it is that at one time they completed 650 deals in a year. That is a few more than 50 a month. They made the decision to create a new business packaging their resources at a time when they were doing 20-30 a month. I read it like that occurred after they had grown to do 50 in a month. I could be wrong, but that is the way i read his responses and I simply went to his profile and read his exact posts without all the rest of the thread.
For reference since Jay mentioned it, REI at one point was completing 82 properties monthly with a high of 112 closed transactions in one month. Buying, renovating, leasing and selling. So you can find on here where I my have posted that we complete 80, or I may say close to 100 deals in a month. However, right this minute, we are not closing that many a month. We are closing closer to 60 a month and had reduced our footprint when interest rates were at their highest. We will continue to grow back to close to if not greater than 100 a month, but if someone wants to know the size and scale of our company and abilities, I am absolutely letting them know we have closed right at 1,000 properties in a year.
When answering questions in a two-dimensional forum where people are asking questions, business owners try and tell a story that gives as much of a picture as possible and context is sometimes difficult or lost in the way people read the responses. Antoine is simply a business person who sees an opportunity to create a business. I tip my hat to him. He gets to decide what price to charge for his service or product. The public will decide if its needed or worth it. And he gets to decide how to convey his history and story as long as he is not making it up out of thin air. That part, I have no way of knowing.
But, I don't fault the guy for not responding to everyone, especially not anyone that has no real interest in hearing from him or learning about his business. There are definitely commenters in this thread that could help Antoine and give him advice from their perspectives and expertise, but so far not much has really come across as genuine, in my opinion. So far, I think he has done a decent job of responding to what needs to be responded to.
That's not how I read it. Myself, as well as Jay, (as he brought it up prior to me) read it as 650 over a decade, with conflicting statements that also claimed between 20-50 a month.
This is another reason why I think Antoine needs to clear it up. I find it a bit odd he went dark on the thread without explaining this.
Chris you been in the game a long time, as have I. I've been attacked on here multiple times, as have you, both you & I stay in the thread and counter punch any attack on our business, character, methods, etc with facts about our businesses.....We both know he's read everything that's been said here, so in my opinion, there is no good reason not to respond and clear this up unless there are issues. If there are no issues he's gonna come out looking great and probably generate a ton of leads off the attention this thread gets. If he doesn't explain it, to me, that shows major issues.
- 2yChris ClothierBusiness MemberRental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
I respect your opinion and love the fact we can disagree with each other respectfully. You are not wrong on the need to respond and offer clarity. You and I show that two pretty seasoned people read his responses on here differently, which I think illustrates a reason clean it up. That'll be for him to decide.
- Member since 2024 · 1 post · 0 votes2y
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 u sign up? comments?
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes2yHey Chris, Antoine here (owner of FlipSystem and MartelTurnkey). I appreciate your level headed response and previous explanation of your own scale…1,000 deals a year is incredible! To clarify some items. We started approx 10 years ago doing zero deals a month (as most new businesses do that do not involve an existing business acquisition etc). We then scaled to doing 50 in one month at the high-point. Over the course of the decade since we began, it has led to over 650 deals combined (I never made the claim we did 650/year). As you mentioned, you guys at REI Nation are a ways off where you were at the height of the market in terms of deal volume, and rather than deal with the growing pains of ramping up and ramping down as the market goes (I seriously applaud you guys for being able to do that), we decided it made more sense to offer our knowledge and experience to help others begin or scale their own personal micro-flipping business and real estate investing. Great job on maintaining your scale with the ebbs and flows of the market that are outside of your control.
Quote from @Chris Clothier:
I respect your opinion and love the fact we can disagree with each other respectfully. You are not wrong on the need to respond and offer clarity. You and I show that two pretty seasoned people read his responses on here differently, which I think illustrates a reason clean it up. That'll be for him to decide.
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes2y
Quote from @James Wise:
Quote from @Chris Clothier:
Quote from @James Wise:
Quote from @James Wise:
Quote from @Nate Marshall:
Quote from @Jay Hinrichs:
Quote from @Antoine Martel:
Hey Becca, Antoine here (owner of FlipSystem and MartelTurnkey). If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well). Essentially that is exactly what we are doing with FlipSystem, leveraging the teams we built with MartelTurnkey that have helped us flip over 650 homes, and providing the same backend systems, support, and contacts to our FlipSystem clients to help them do the same. We have found that a lot of investors do not have proven resources in other markets/states and that the value we provide to them with those teams and systems in place is worth the investment. As you mentioned, there is a ton of research that is involved in flipping out of state, and we strive to significantly reduce that time spent researching by providing our 10+ years experience of successfully flipping hundreds of homes in out of state markets. A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies. Ideally if one of your flips does not go exactly according to plan, you can always refinance it and hold it as a cash-flowing rental. I hope your portfolio continues to grow with your existing team and that they can get a few flips going for you as well.Quote from @Becca F.:
I also got on a call with them in January and that’s exactly what they told me $15,000. I decided not to join and if I decide to do a flip I’ll talk to my Indiana realtor and her team of contractors and vendors. I know that market much better than the markets Antoine mentioned (Ohio, Michigan). I figured the $15,000 I would have spent on Flip System I would use that money to help renovate an Indiana SFH. Right now I’m buy and hold long term rentals, would consider a flip but need to do lots of research.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!
Antoine,
Just fact checking you here.. In one post you said you were doing 50 turn keys a month
and then you say you have been doing this for 10 years ( which I have seen you around for 10 years so I think that checks out) but now you say you have done 650 flips.. ???
I have been funding turnkey as a A and D lender since 2002 over 3000 transactions.. I have yet to see anyone actually do 50 a month.. 5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets.
650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages Just sayin.He is just making up numbers Jay. Just like Madoff did for his victims. He can't even keep them straight, Might want to find an app to keep his lies and fraud straight.
Saw him talk about doing 20-30 flips a month in this thread as well. That also doesn't jive with the 650 flips over 10yrs.
650 over a decade, 65 flips a year, that's a lot, bit it's doable. 20, 30 or 50 flips a month.....Lol, I'd be shocked if I saw anyone come close to that type of volume. That's just wildely unrealistic.
A bit disappointing that @Antoine Martel hasn't clarified the number discrepancy's. Seems like an odd time to go dark on a thread he was so active in. I'd imagine a lot of people would like clarification on those discrepancy's that were noticed in the thread.
Sorry for quoting on this and so many people being tagged. I wanted to take the opposite view though. I think Antoine has actually done a pretty good job with responding to actual clients and interested clients here on the forums. I don't know him personally, but I think I met the father in San Fransisco some years back and I do know the business name and that they have been around for a good bit of time. Enough time for the negatives to creep out and enter the BP universe and I don't see or hear a lot of negative about them.
I also don't see any discrepancies when you read each of his responses. It may not be crystal clear, but the way I read it is that at one time they completed 650 deals in a year. That is a few more than 50 a month. They made the decision to create a new business packaging their resources at a time when they were doing 20-30 a month. I read it like that occurred after they had grown to do 50 in a month. I could be wrong, but that is the way i read his responses and I simply went to his profile and read his exact posts without all the rest of the thread.
For reference since Jay mentioned it, REI at one point was completing 82 properties monthly with a high of 112 closed transactions in one month. Buying, renovating, leasing and selling. So you can find on here where I my have posted that we complete 80, or I may say close to 100 deals in a month. However, right this minute, we are not closing that many a month. We are closing closer to 60 a month and had reduced our footprint when interest rates were at their highest. We will continue to grow back to close to if not greater than 100 a month, but if someone wants to know the size and scale of our company and abilities, I am absolutely letting them know we have closed right at 1,000 properties in a year.
When answering questions in a two-dimensional forum where people are asking questions, business owners try and tell a story that gives as much of a picture as possible and context is sometimes difficult or lost in the way people read the responses. Antoine is simply a business person who sees an opportunity to create a business. I tip my hat to him. He gets to decide what price to charge for his service or product. The public will decide if its needed or worth it. And he gets to decide how to convey his history and story as long as he is not making it up out of thin air. That part, I have no way of knowing.
But, I don't fault the guy for not responding to everyone, especially not anyone that has no real interest in hearing from him or learning about his business. There are definitely commenters in this thread that could help Antoine and give him advice from their perspectives and expertise, but so far not much has really come across as genuine, in my opinion. So far, I think he has done a decent job of responding to what needs to be responded to.
That's not how I read it. Myself, as well as Jay, (as he brought it up prior to me) read it as 650 over a decade, with conflicting statements that also claimed between 20-50 a month.
This is another reason why I think Antoine needs to clear it up. I find it a bit odd he went dark on the thread without explaining this.
Chris you been in the game a long time, as have I. I've been attacked on here multiple times, as have you, both you & I stay in the thread and counter punch any attack on our business, character, methods, etc with facts about our businesses.....We both know he's read everything that's been said here, so in my opinion, there is no good reason not to respond and clear this up unless there are issues. If there are no issues he's gonna come out looking great and probably generate a ton of leads off the attention this thread gets. If he doesn't explain it, to me, that shows major issues.
Hey James, Antoine here (owner of FlipSystem and MartelTurnkey). I recently responded to Chris’ post to give some clarification, but wanted to also drop a quick comment on yours as well since you seemed to also have a calm but reasonable response to the thread. You are correct that the 650 deals are cumulative over the decade. Of course we started at zero deals a month, 12-24 months in we were still only doing about 1 deal/month as we were testing things out. Many years later we scaled up to a high point of 50 deals in a single month. I am sure you can understand that growth is not necessarily a linear progression, and that it takes time to ramp up to that volume. Chris is a much larger operation than we are, and they seemed to express similar realities to scaling up and down as the market goes, which I am sure you can relate to as well in your own investing. Hope you see this as a reasonable explanation; wish you the best on your own growth in the industry.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @Antoine Martel:
Quote from @James Wise:
Quote from @Chris Clothier:
Quote from @James Wise:
Quote from @James Wise:
Quote from @Nate Marshall:
Quote from @Jay Hinrichs:
Quote from @Antoine Martel:
Hey Becca, Antoine here (owner of FlipSystem and MartelTurnkey). If you have an out of state team that you trust and have shown they can execute, then yes it definitely makes sense to leverage them (depending on the metrics of the market etc as well). Essentially that is exactly what we are doing with FlipSystem, leveraging the teams we built with MartelTurnkey that have helped us flip over 650 homes, and providing the same backend systems, support, and contacts to our FlipSystem clients to help them do the same. We have found that a lot of investors do not have proven resources in other markets/states and that the value we provide to them with those teams and systems in place is worth the investment. As you mentioned, there is a ton of research that is involved in flipping out of state, and we strive to significantly reduce that time spent researching by providing our 10+ years experience of successfully flipping hundreds of homes in out of state markets. A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies. Ideally if one of your flips does not go exactly according to plan, you can always refinance it and hold it as a cash-flowing rental. I hope your portfolio continues to grow with your existing team and that they can get a few flips going for you as well.Quote from @Becca F.:
I also got on a call with them in January and that’s exactly what they told me $15,000. I decided not to join and if I decide to do a flip I’ll talk to my Indiana realtor and her team of contractors and vendors. I know that market much better than the markets Antoine mentioned (Ohio, Michigan). I figured the $15,000 I would have spent on Flip System I would use that money to help renovate an Indiana SFH. Right now I’m buy and hold long term rentals, would consider a flip but need to do lots of research.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!
Antoine,
Just fact checking you here.. In one post you said you were doing 50 turn keys a month
and then you say you have been doing this for 10 years ( which I have seen you around for 10 years so I think that checks out) but now you say you have done 650 flips.. ???
I have been funding turnkey as a A and D lender since 2002 over 3000 transactions.. I have yet to see anyone actually do 50 a month.. 5 to 10 sure.. and maybe REI nation gets close to that but they have like 50 employees and are extremely well capitalized and are in many markets.
650 flips in 10 years is 65 a year and that I can believe so your sending out mix messages Just sayin.He is just making up numbers Jay. Just like Madoff did for his victims. He can't even keep them straight, Might want to find an app to keep his lies and fraud straight.
Saw him talk about doing 20-30 flips a month in this thread as well. That also doesn't jive with the 650 flips over 10yrs.
650 over a decade, 65 flips a year, that's a lot, bit it's doable. 20, 30 or 50 flips a month.....Lol, I'd be shocked if I saw anyone come close to that type of volume. That's just wildely unrealistic.
A bit disappointing that @Antoine Martel hasn't clarified the number discrepancy's. Seems like an odd time to go dark on a thread he was so active in. I'd imagine a lot of people would like clarification on those discrepancy's that were noticed in the thread.
Sorry for quoting on this and so many people being tagged. I wanted to take the opposite view though. I think Antoine has actually done a pretty good job with responding to actual clients and interested clients here on the forums. I don't know him personally, but I think I met the father in San Fransisco some years back and I do know the business name and that they have been around for a good bit of time. Enough time for the negatives to creep out and enter the BP universe and I don't see or hear a lot of negative about them.
I also don't see any discrepancies when you read each of his responses. It may not be crystal clear, but the way I read it is that at one time they completed 650 deals in a year. That is a few more than 50 a month. They made the decision to create a new business packaging their resources at a time when they were doing 20-30 a month. I read it like that occurred after they had grown to do 50 in a month. I could be wrong, but that is the way i read his responses and I simply went to his profile and read his exact posts without all the rest of the thread.
For reference since Jay mentioned it, REI at one point was completing 82 properties monthly with a high of 112 closed transactions in one month. Buying, renovating, leasing and selling. So you can find on here where I my have posted that we complete 80, or I may say close to 100 deals in a month. However, right this minute, we are not closing that many a month. We are closing closer to 60 a month and had reduced our footprint when interest rates were at their highest. We will continue to grow back to close to if not greater than 100 a month, but if someone wants to know the size and scale of our company and abilities, I am absolutely letting them know we have closed right at 1,000 properties in a year.
When answering questions in a two-dimensional forum where people are asking questions, business owners try and tell a story that gives as much of a picture as possible and context is sometimes difficult or lost in the way people read the responses. Antoine is simply a business person who sees an opportunity to create a business. I tip my hat to him. He gets to decide what price to charge for his service or product. The public will decide if its needed or worth it. And he gets to decide how to convey his history and story as long as he is not making it up out of thin air. That part, I have no way of knowing.
But, I don't fault the guy for not responding to everyone, especially not anyone that has no real interest in hearing from him or learning about his business. There are definitely commenters in this thread that could help Antoine and give him advice from their perspectives and expertise, but so far not much has really come across as genuine, in my opinion. So far, I think he has done a decent job of responding to what needs to be responded to.
That's not how I read it. Myself, as well as Jay, (as he brought it up prior to me) read it as 650 over a decade, with conflicting statements that also claimed between 20-50 a month.
This is another reason why I think Antoine needs to clear it up. I find it a bit odd he went dark on the thread without explaining this.
Chris you been in the game a long time, as have I. I've been attacked on here multiple times, as have you, both you & I stay in the thread and counter punch any attack on our business, character, methods, etc with facts about our businesses.....We both know he's read everything that's been said here, so in my opinion, there is no good reason not to respond and clear this up unless there are issues. If there are no issues he's gonna come out looking great and probably generate a ton of leads off the attention this thread gets. If he doesn't explain it, to me, that shows major issues.
Hey James, Antoine here (owner of FlipSystem and MartelTurnkey). I recently responded to Chris’ post to give some clarification, but wanted to also drop a quick comment on yours as well since you seemed to also have a calm but reasonable response to the thread. You are correct that the 650 deals are cumulative over the decade. Of course we started at zero deals a month, 12-24 months in we were still only doing about 1 deal/month as we were testing things out. Many years later we scaled up to a high point of 50 deals in a single month. I am sure you can understand that growth is not necessarily a linear progression, and that it takes time to ramp up to that volume. Chris is a much larger operation than we are, and they seemed to express similar realities to scaling up and down as the market goes, which I am sure you can relate to as well in your own investing. Hope you see this as a reasonable explanation; wish you the best on your own growth in the industry.
Makes sense to me. I've had 50+ deal months, I've also had 500+ deal years as well as $50 Million+ sales volume years, however, I had a larger staff during those times. With where the market is currently at, it's not feasible to maintain that level of staffing and deal flow.
- Member since 2023 · 15 posts · 4 votes2y
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!
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I really hate when people do this. If you are going to come on here and imply wrong doing, say what you are gonna say to give the man an opportunity to defend himself. Maybe he's a crook and you'll expose him. Maybe you're a crazy BP newb who has no idea what's going on and he'll expose you. Nobody knows if you just drop a grenade and then run away, it's b/s.
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @James Wise:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I really hate when people do this. If you are going to come on here and imply wrong doing, say what you are gonna say to give the man an opportunity to defend himself. Maybe he's a crook and you'll expose him. Maybe you're a crazy BP newb who has no idea what's going on and he'll expose you. Nobody knows if you just drop a grenade and then run away, it's b/s.
She could be doing this to also let people know the program is great but she does not want to be labeled a shill. ?? could go either way.. My main thing is No one in their right mind goes into a flip deal with the expectation to make 10k.. that's crazy.. And a sure way to make nothing or lose.. you may make the 10k but that's a razor thin margin and no room for error taking on a ton of liability and risk for very little return. - Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @Jay Hinrichs:
Quote from @James Wise:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I really hate when people do this. If you are going to come on here and imply wrong doing, say what you are gonna say to give the man an opportunity to defend himself. Maybe he's a crook and you'll expose him. Maybe you're a crazy BP newb who has no idea what's going on and he'll expose you. Nobody knows if you just drop a grenade and then run away, it's b/s.
She could be doing this to also let people know the program is great but she does not want to be labeled a shill. ?? could go either way.. My main thing is No one in their right mind goes into a flip deal with the expectation to make 10k.. that's crazy.. And a sure way to make nothing or lose.. you may make the 10k but that's a razor thin margin and no room for error taking on a ton of liability and risk for very little return.The only way she'd be going through the effort of posting to get people to PM her about the program being great was if she actually was a paid shill, lol.
Which if that was a case, that'd also be b/s.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @James Wise:
Quote from @Jay Hinrichs:
Quote from @James Wise:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I really hate when people do this. If you are going to come on here and imply wrong doing, say what you are gonna say to give the man an opportunity to defend himself. Maybe he's a crook and you'll expose him. Maybe you're a crazy BP newb who has no idea what's going on and he'll expose you. Nobody knows if you just drop a grenade and then run away, it's b/s.
She could be doing this to also let people know the program is great but she does not want to be labeled a shill. ?? could go either way.. My main thing is No one in their right mind goes into a flip deal with the expectation to make 10k.. that's crazy.. And a sure way to make nothing or lose.. you may make the 10k but that's a razor thin margin and no room for error taking on a ton of liability and risk for very little return.The only way she'd be going through the effort of posting to get people to PM her about the program being great was if she actually was a paid shill, lol.
Which if that was a case, that'd also be b/s.
As for the $10k margin thing, to me, that does speak of credibility. Let's face it, his business is incredibly Guru-ish. It's going to be heavily scrutinized by people like you and myself for the obvious flaws that it has.
However, he's giving realistic numbers, he's not out here saying these newbs are going to make $50k per deal, if he was, I'd be burning him at the stake myself.
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @James Wise:
Quote from @James Wise:
Quote from @Jay Hinrichs:
Quote from @James Wise:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I really hate when people do this. If you are going to come on here and imply wrong doing, say what you are gonna say to give the man an opportunity to defend himself. Maybe he's a crook and you'll expose him. Maybe you're a crazy BP newb who has no idea what's going on and he'll expose you. Nobody knows if you just drop a grenade and then run away, it's b/s.
She could be doing this to also let people know the program is great but she does not want to be labeled a shill. ?? could go either way.. My main thing is No one in their right mind goes into a flip deal with the expectation to make 10k.. that's crazy.. And a sure way to make nothing or lose.. you may make the 10k but that's a razor thin margin and no room for error taking on a ton of liability and risk for very little return.The only way she'd be going through the effort of posting to get people to PM her about the program being great was if she actually was a paid shill, lol.
Which if that was a case, that'd also be b/s.
As for the $10k margin thing, to me, that does speak of credibility. Let's face it, his business is incredibly Guru-ish. It's going to be heavily scrutinized by people like you and myself for the obvious flaws that it has.
However, he's giving realistic numbers, he's not out here saying these newbs are going to make $50k per deal, if he was, I'd be burning him at the stake myself.
fair enough. I would just caution OOS flippers who think they can pay for this and make 10k a house flipping homes from afar.. locals sure.. always too sides to these things the blue sky and the overcast :)
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2yTotally agree. There is zero % chance these folks are in the black on every deal just because they've signed up for the syatem he's hawking.
Quote from @Jay Hinrichs:
Quote from @James Wise:
Quote from @James Wise:
Quote from @Jay Hinrichs:
Quote from @James Wise:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I really hate when people do this. If you are going to come on here and imply wrong doing, say what you are gonna say to give the man an opportunity to defend himself. Maybe he's a crook and you'll expose him. Maybe you're a crazy BP newb who has no idea what's going on and he'll expose you. Nobody knows if you just drop a grenade and then run away, it's b/s.
She could be doing this to also let people know the program is great but she does not want to be labeled a shill. ?? could go either way.. My main thing is No one in their right mind goes into a flip deal with the expectation to make 10k.. that's crazy.. And a sure way to make nothing or lose.. you may make the 10k but that's a razor thin margin and no room for error taking on a ton of liability and risk for very little return.The only way she'd be going through the effort of posting to get people to PM her about the program being great was if she actually was a paid shill, lol.
Which if that was a case, that'd also be b/s.
As for the $10k margin thing, to me, that does speak of credibility. Let's face it, his business is incredibly Guru-ish. It's going to be heavily scrutinized by people like you and myself for the obvious flaws that it has.
However, he's giving realistic numbers, he's not out here saying these newbs are going to make $50k per deal, if he was, I'd be burning him at the stake myself.
fair enough. I would just caution OOS flippers who think they can pay for this and make 10k a house flipping homes from afar.. locals sure.. always too sides to these things the blue sky and the overcast :)
- Member since 2021 · 1 post · 3 votes2y
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.Hey folks, I'm a current member of Flipsystem and thought I could share my perspective. I cannot verify the 650 units / year claim or 1000 deals claim etc so I'll stay away from that...maybe that matters, maybe not.
I have experience flipping in the midwest (a handful in Chicagoland area, working on a multifamily flip in Indiana), NOT a pro or guru by any means, but a student of the game who's uniquely positioned like most of you who are wondering if Flipsystem is worth it?I gave it a shot because I was looking to streamline the process of fixing and flipping properties. I've had my fair share of ups and downs so I can relate to some of the concerns around this Flipsystem service...is it for real or just a scam? Will they really have great boots on the ground or will you get ripped off?
I can confirm that there is a business in place, a team of very knowledgeable individuals to help you through all aspects of the flipping process....market identification (they service a few, I'm currently in Detroit), acquisition (they put you in touch with a licensed agent; they have a software to help you underwrite prospective properties i.e. will you make $10K-$20K after it's all said and done?), vetting (THIS IS KEY - inspections process, feedback on your inspections, rehab advice...and yes they introduce you to their own vetted contractor), lender (lots of those out there, but which ones can get it underwritten without making you wait months? They have recommendations here) , property management (you can flip out of it, keep it / BRRR, etc). So they hit the areas that I was looking for.
I purchased a home in Detroit which closed mid-Dec, while I was overseas. My agent was great in taking care of things and making arrangements for that. Got the utilities going after two weeks (that was longer than expected...), started rehab in Jan, and finished mid-Feb. Fairly cosmetic rehab incl roof replacement and mechanicals, $40K budget, done in about a month and a half, and now am moving towards placing into property management and flipping out of my rehab loan. There were delays as my agent was supposed to help list the property for rent to place a tenant, but FlipSystem was with me in figuring out alternative resources - that was key.
So really, you're paying that $15K fee (confirmed!) to get some vetted help in your fix and flip process. I'm about to net $15K in profit (was a little more because I finished the rehab in 1.5 months not 3, but a little less because of holding cost delays re: utilities, agent delay).
***It will not be a perfect process, and it almost never is. But, they are there to help support you along the way. That can be helpful especially if entering a new market.I don't like paying a subscription fee for that underwriting software, but it's negligible if this fee is underwritten into the holding costs of the project.
Would be happy to answer any other questions folks may have! Would I recommend it to folks who want to get into fixing and flipping? Yes, for all of the reasons above, plus they have teachables / videos where Antoine details the process, plus they have a gazillion coaching calls that will support you along the way. Hard to fail if you are motivated, do the teachables homework, and apply yourself. This is NOT a completely done-for-you-service, you'll need to put in some work yourself...but hey, work smarter not harder?
- Member since 2023 · 15 posts · 4 votes2y
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I have spoken to the leadership at Flip System and they are diligently working with me to resolve my issue. My issue was not with Flip System directly, however they are working with me to help me resolve it.
- Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes2y
Need 2 things
1-great Realtor ( full time agent, answers the phone, knows how to negotiate).
2- Honest Contractor.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes2y
Quote from @Amy B.:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I have spoken to the leadership at Flip System and they are diligently working with me to resolve my issue. My issue was not with Flip System directly, however they are working with me to help me resolve it.
What was your issue?
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 735 votes2y
Quote from @James Wise:
Quote from @Amy B.:
Quote from @Amy B.:
I joined the program… direct message me for the truth!
I have spoken to the leadership at Flip System and they are diligently working with me to resolve my issue. My issue was not with Flip System directly, however they are working with me to help me resolve it.
What was your issue?
Yes. What was her issue?
- Specialist · NJ · Member since 2022 · 1k+ posts · 650 votes2y
I come from a background of odds/probability/expected value and I can tell you if the avg. is 10k then they lose for sure in deals cause some I'm sure are more than 10k.
I've helped investors get into and out of many deals myself. I've seen an investor make 45k in literally 90 days and I also have seen someone lose 20k in a deal as well. If you average 45k and -20k together you get 12,500/deal. So numbers can be deceiving at times but with the margins that thin they MUST LOSE at times or the take would be higher.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 735 votes2y
Quote from @Mike Klarman:
I come from a background of odds/probability/expected value and I can tell you if the avg. is 10k then they lose for sure in deals cause some I'm sure are more than 10k.
I've helped investors get into and out of many deals myself. I've seen an investor make 45k in literally 90 days and I also have seen someone lose 20k in a deal as well. If you average 45k and -20k together you get 12,500/deal. So numbers can be deceiving at times but with the margins that thin they MUST LOSE at times or the take would be higher.
Most if not all of the gurus hide their losses. They have to.
Picture shown: wholesalers be like... just a little cosmetic work needed.
MOVE GENTLY WITH A CHAINSAW
THEN START THE WOODCHIPPER
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