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
- Hermosa Beach, CA · Member since 2017 · 16 posts · 4 votes2y
Hi all! I joined Flip System in 2023 and can speak from my own personal experience that they have been extremely helpful in getting me launched in a new out of state market.
Prior to Flip System, I started out of state investing in one market by myself, and while I was able to acquire houses successfully, the process of researching and vetting my teams was incredibly time-consuming. I'd say it took me a year to really get things set up properly. Living in California, I flew out several times and conducted interviews with property managers, agents, and other boots on the ground. Building a reliable team involves a lot of trial and error, and it can be a lengthy process.
When Antoine started Flip System I reached out to him because I was interested in joining a new market and didn't want to start from scratch with building my team. I also wanted to educate myself at a higher level with experienced mentors who could expand my investing options. With their program, I entered that new market and landed three deals in the first couple of months. Flip System has definitely been a huge resource in growing my business and knowledge. You need to put the time and effort into being successful, just like anything. They don't just do it all for you, but they will guide you in the right direction, cut out a lot of wasted time, teach you what they have learned, and connect you with their teams. It's also an ongoing relationship of support and resources that took me from doing this by myself to a community and team mindset.
We have regular calls, their acquisitions team sends me deals, I can review bids with their contractor and they will take a peek at my CRM to review my numbers and make suggestions. I'm also in touch with other investors in the community that I can text and reach out to. I'm very happy with my decision to join flip system.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
Quote from @Amy Berman:
Hi all! I joined Flip System in 2023 and can speak from my own personal experience that they have been extremely helpful in getting me launched in a new out of state market.
Prior to Flip System, I started out of state investing in one market by myself, and while I was able to acquire houses successfully, the process of researching and vetting my teams was incredibly time-consuming. I'd say it took me a year to really get things set up properly. Living in California, I flew out several times and conducted interviews with property managers, agents, and other boots on the ground. Building a reliable team involves a lot of trial and error, and it can be a lengthy process.
When Antoine started Flip System I reached out to him because I was interested in joining a new market and didn't want to start from scratch with building my team. I also wanted to educate myself at a higher level with experienced mentors who could expand my investing options. With their program, I entered that new market and landed three deals in the first couple of months. Flip System has definitely been a huge resource in growing my business and knowledge. You need to put the time and effort into being successful, just like anything. They don't just do it all for you, but they will guide you in the right direction, cut out a lot of wasted time, teach you what they have learned, and connect you with their teams. It's also an ongoing relationship of support and resources that took me from doing this by myself to a community and team mindset.
We have regular calls, their acquisitions team sends me deals, I can review bids with their contractor and they will take a peek at my CRM to review my numbers and make suggestions. I'm also in touch with other investors in the community that I can text and reach out to. I'm very happy with my decision to join flip system.
And you have 16 posts?
- Flipper/Rehabber · CA · Member since 2023 · 1k+ posts · 1k+ votes2y
Quote from @Amy Berman:
Hi all! I joined Flip System in 2023 and can speak from my own personal experience that they have been extremely helpful in getting me launched in a new out of state market.
Prior to Flip System, I started out of state investing in one market by myself, and while I was able to acquire houses successfully, the process of researching and vetting my teams was incredibly time-consuming. I'd say it took me a year to really get things set up properly. Living in California, I flew out several times and conducted interviews with property managers, agents, and other boots on the ground. Building a reliable team involves a lot of trial and error, and it can be a lengthy process.
When Antoine started Flip System I reached out to him because I was interested in joining a new market and didn't want to start from scratch with building my team. I also wanted to educate myself at a higher level with experienced mentors who could expand my investing options. With their program, I entered that new market and landed three deals in the first couple of months. Flip System has definitely been a huge resource in growing my business and knowledge. You need to put the time and effort into being successful, just like anything. They don't just do it all for you, but they will guide you in the right direction, cut out a lot of wasted time, teach you what they have learned, and connect you with their teams. It's also an ongoing relationship of support and resources that took me from doing this by myself to a community and team mindset.
We have regular calls, their acquisitions team sends me deals, I can review bids with their contractor and they will take a peek at my CRM to review my numbers and make suggestions. I'm also in touch with other investors in the community that I can text and reach out to. I'm very happy with my decision to join flip system.
This sounds great, how much have you made on your flips?
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
Quote from @Alan F.:
Quote from @Amy Berman:
Hi all! I joined Flip System in 2023 and can speak from my own personal experience that they have been extremely helpful in getting me launched in a new out of state market.
Prior to Flip System, I started out of state investing in one market by myself, and while I was able to acquire houses successfully, the process of researching and vetting my teams was incredibly time-consuming. I'd say it took me a year to really get things set up properly. Living in California, I flew out several times and conducted interviews with property managers, agents, and other boots on the ground. Building a reliable team involves a lot of trial and error, and it can be a lengthy process.
When Antoine started Flip System I reached out to him because I was interested in joining a new market and didn't want to start from scratch with building my team. I also wanted to educate myself at a higher level with experienced mentors who could expand my investing options. With their program, I entered that new market and landed three deals in the first couple of months. Flip System has definitely been a huge resource in growing my business and knowledge. You need to put the time and effort into being successful, just like anything. They don't just do it all for you, but they will guide you in the right direction, cut out a lot of wasted time, teach you what they have learned, and connect you with their teams. It's also an ongoing relationship of support and resources that took me from doing this by myself to a community and team mindset.
We have regular calls, their acquisitions team sends me deals, I can review bids with their contractor and they will take a peek at my CRM to review my numbers and make suggestions. I'm also in touch with other investors in the community that I can text and reach out to. I'm very happy with my decision to join flip system.
This sounds great, how much have you made on your flips?
We'd all like to see the HUDS.
- 2yChris ClothierBusiness MemberRental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
Welcome to the site @Amy B.. I've read a few of your posts and see you getting quite active in a lot of conversations on since you joined. I'm sure you will find your way around quickly. Best of luck as you expand into new markets - hopefully any coaches, mentors or systems you pay for get you where you want to go quicker. I don't need to see any HUDs!
@Antoine Martel keep pressing ahead and best of luck with Flipsystem. I can't speak to if it is any good or meeting a market need, but if you provide a good product and service and focus on meeting your customers needs, I'm sure you and your family will succeed.
For anyone else reading this. Understand that products like this are meant to help those that are going to succeed to get to their destination faster. Whether it is $15 or $15,000, keep your money if you are not willing to put the work in. Every dollar you spend is wasted if you are not going to put in the effort and work to reach your definition of success. That goes for any product, service, mentor or coach. They are only tools to flatten your road and straighten out the curves. You still have to do the work and if you will, then spend as many dollars as it takes to reach the level you want to achieve. Which is exactly what Amy spelled out. She explained that she is someone who already knows how to buy in an out of state market and said it took her a year to get things dialed in. For her next market she wanted to go faster and spent the money to see if Flip System could help. She may be newer to posing on BP, but that doesn't give anyone reason to doubt her posts.
Take all of this from a very seasoned and experienced investor and entrepreneur who routinely invests in coaching and/or products that may improve some piece of my businesses, team or myself.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
- 2yRahman SobhanPro MemberInvestor · CA · Member since 2018 · 22 posts · 18 votes
Quote from @Max S.:
Quote from @Jimmy Lieu:
This sounds like a good example of someone making more money from selling courses than from actually doing the flipping themselves - would beware
Hey Jimmy! Did you end up join Flipsystem?
Yes, that is exactly the case! but that is actually the point as well.. if you follow the Martels you will see they have flippped/sold turnkey hundreds if not, thousands of homes. The roadblock for them was how to 10x scale such a flipping/turnkey biz?
It's not really desirable to flip 100s of homes per month so, they decided to offer up the education and connections they have made over the years of doing this business to those who don't have the time to source/vet.
For sure, one can do this their selves but the main reason investors would go with Flipsystem is time in my opinion. And the fact that the system can handle higher volume per month if that is the goal for your RE plan!
- 2yRahman SobhanPro MemberInvestor · CA · Member since 2018 · 22 posts · 18 votes
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?
Hi David, Did you end up joining Flipsystem? Love to know your experience
- 2yRahman SobhanPro MemberInvestor · CA · Member since 2018 · 22 posts · 18 votes
Quote from @Max S.:
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..Hi Max, thanks for the feedback. I appreciate honest feedback that it's not a scam. This gives me hope that I am not making a mistake by joining. thanks
- Rock Hill, SC · Member since 2015 · 4 posts · 0 votes2y
In November, it was $15K.
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes2y
Quote from @Erica K.:
Hello I see people are quoting $15k. I was told today $20k on the phone.. can I ask how much people were quoted recently as an entry fee?
Hey Erica, Antoine here (owner of FlipSystem and MartelTurnkey). Our prices and offering has changed as of March 1st, so you are being quoted the current offering price. Hope to see you in the program, let me know directly if you have any further questions.
- 2yRahman SobhanPro MemberInvestor · CA · Member since 2018 · 22 posts · 18 votes
Quote from @Erica K.:
Hello I see people are quoting $15k. I was told today $20k on the phone.. can I ask how much people were quoted recently as an entry fee?
Hi Erica, you are correct? It used to be 15k last years. From 2024 they have increased the price to 20k for 2 yrs of access.
One this that surprises me is that when you are sing the FSysytem yo are a ser of the system don't have access or know anyone who are using the program so you can network. This is very odd to me in a digital world.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
Quote from @Erica K.:
Hello I see people are quoting $15k. I was told today $20k on the phone.. can I ask how much people were quoted recently as an entry fee?
Money which can help you get deals done without Mr. Guru Head (like Potato Head only he's not ripping you off!)
- Member since 2024 · 4 posts · 4 votes2y
FlipSystem student here… I joined in September of 2023, and have loved it so much that I applied to work here last month in Feb 2024. I began submitting offers for my first property in late November ’23 after leaving my tech job, and shortly thereafter I got a house under contract the first week of December. I have already closed, rehabbed and placed a tenant as of 3/13/2024. Everything is as advertised and the team has always been super responsive in addressing all of my questions and/or concerns. I’m already submitting offers for my second property and plan to scale to 1 flip/month, which at my current pace seems more than doable considering the amount of leg work their system offloaded with my first deal. Not to mention, my team on the ground (the realtors, contractors, lenders, insurance agents, etc.) have been awesome - attentive, kind, and hard working. There were a few hiccups in the beginning as I was completely new to the space and had 0 real estate experience prior to this, but the FS support team has always had my back and helped me through them. Considering the little work I’m putting in and the net profits I’m seeing, I don’t see why anyone wouldn’t do this if they had the money and the discipline. This is an investment, not a get rich quick scheme… Compared to how much you can generate in the long run, the upfront investment to join is more than fair, if not a bit generous, in my opinion. I’m making more than 50% of what I made in the stock market the last 5 years in the past 3 months with my first property… by just putting in 2 hours/week, if that. My reason for wanting to work here is directly correlated to the value and support that I've received since joining as a student--I'd like to spread the same good and help others along their real estate journeys!! Feel free to message me if you have any questions about my personal experience, I'd be happy to help.
- Member since 2024 · 4 posts · 4 votes2y
Quote from @Blanca Yanez:
FlipSystem student here… I joined in September of 2023, and have loved it so much that I applied to work here last month in Feb 2024. I began submitting offers for my first property in late November ’23 after leaving my tech job, and shortly thereafter I got a house under contract the first week of December. I have already closed, rehabbed and placed a tenant as of 3/13/2024. Everything is as advertised and the team has always been super responsive in addressing all of my questions and/or concerns. I’m already submitting offers for my second property and plan to scale to 1 flip/month, which at my current pace seems more than doable considering the amount of leg work their system offloaded with my first deal. Not to mention, my team on the ground (the realtors, contractors, lenders, insurance agents, etc.) have been awesome - attentive, kind, and hard working. There were a few hiccups in the beginning as I was completely new to the space and had 0 real estate experience prior to this, but the FS support team has always had my back and helped me through them. Considering the little work I’m putting in and the net profits I’m seeing, I don’t see why anyone wouldn’t do this if they had the money and the discipline. This is an investment, not a get rich quick scheme… Compared to how much you can generate in the long run, the upfront investment to join is more than fair, if not a bit generous, in my opinion. I’m making more than 50% of what I made in the stock market the last 5 years in the past 3 months with my first property… by just putting in 2 hours/week, if that. My reason for wanting to work here is directly correlated to the value and support that I've received since joining as a student--I'd like to spread the same good and help others along their real estate journeys!! Feel free to message me if you have any questions about my personal experience, I'd be happy to help.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
Quote from @Blanca Yanez:
Quote from @Blanca Yanez:
FlipSystem student here… I joined in September of 2023, and have loved it so much that I applied to work here last month in Feb 2024. I began submitting offers for my first property in late November ’23 after leaving my tech job, and shortly thereafter I got a house under contract the first week of December. I have already closed, rehabbed and placed a tenant as of 3/13/2024. Everything is as advertised and the team has always been super responsive in addressing all of my questions and/or concerns. I’m already submitting offers for my second property and plan to scale to 1 flip/month, which at my current pace seems more than doable considering the amount of leg work their system offloaded with my first deal. Not to mention, my team on the ground (the realtors, contractors, lenders, insurance agents, etc.) have been awesome - attentive, kind, and hard working. There were a few hiccups in the beginning as I was completely new to the space and had 0 real estate experience prior to this, but the FS support team has always had my back and helped me through them. Considering the little work I’m putting in and the net profits I’m seeing, I don’t see why anyone wouldn’t do this if they had the money and the discipline. This is an investment, not a get rich quick scheme… Compared to how much you can generate in the long run, the upfront investment to join is more than fair, if not a bit generous, in my opinion. I’m making more than 50% of what I made in the stock market the last 5 years in the past 3 months with my first property… by just putting in 2 hours/week, if that. My reason for wanting to work here is directly correlated to the value and support that I've received since joining as a student--I'd like to spread the same good and help others along their real estate journeys!! Feel free to message me if you have any questions about my personal experience, I'd be happy to help.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
So you just joined BP and have 3 posts. Let me guess to shill for this guru?
- Member since 2024 · 4 posts · 4 votes2y
Quote from @Nate Marshall:
Quote from @Blanca Yanez:
Quote from @Blanca Yanez:
FlipSystem student here… I joined in September of 2023, and have loved it so much that I applied to work here last month in Feb 2024. I began submitting offers for my first property in late November ’23 after leaving my tech job, and shortly thereafter I got a house under contract the first week of December. I have already closed, rehabbed and placed a tenant as of 3/13/2024. Everything is as advertised and the team has always been super responsive in addressing all of my questions and/or concerns. I’m already submitting offers for my second property and plan to scale to 1 flip/month, which at my current pace seems more than doable considering the amount of leg work their system offloaded with my first deal. Not to mention, my team on the ground (the realtors, contractors, lenders, insurance agents, etc.) have been awesome - attentive, kind, and hard working. There were a few hiccups in the beginning as I was completely new to the space and had 0 real estate experience prior to this, but the FS support team has always had my back and helped me through them. Considering the little work I’m putting in and the net profits I’m seeing, I don’t see why anyone wouldn’t do this if they had the money and the discipline. This is an investment, not a get rich quick scheme… Compared to how much you can generate in the long run, the upfront investment to join is more than fair, if not a bit generous, in my opinion. I’m making more than 50% of what I made in the stock market the last 5 years in the past 3 months with my first property… by just putting in 2 hours/week, if that. My reason for wanting to work here is directly correlated to the value and support that I've received since joining as a student--I'd like to spread the same good and help others along their real estate journeys!! Feel free to message me if you have any questions about my personal experience, I'd be happy to help.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
So you just joined BP and have 3 posts. Let me guess to shill for this guru?
Feel free to checkout my LinkedIn, I’m also happy to share my receipts and property closing docs.
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 732 votes2y
Quote from @Blanca Yanez:
Quote from @Nate Marshall:
Quote from @Blanca Yanez:
Quote from @Blanca Yanez:
FlipSystem student here… I joined in September of 2023, and have loved it so much that I applied to work here last month in Feb 2024. I began submitting offers for my first property in late November ’23 after leaving my tech job, and shortly thereafter I got a house under contract the first week of December. I have already closed, rehabbed and placed a tenant as of 3/13/2024. Everything is as advertised and the team has always been super responsive in addressing all of my questions and/or concerns. I’m already submitting offers for my second property and plan to scale to 1 flip/month, which at my current pace seems more than doable considering the amount of leg work their system offloaded with my first deal. Not to mention, my team on the ground (the realtors, contractors, lenders, insurance agents, etc.) have been awesome - attentive, kind, and hard working. There were a few hiccups in the beginning as I was completely new to the space and had 0 real estate experience prior to this, but the FS support team has always had my back and helped me through them. Considering the little work I’m putting in and the net profits I’m seeing, I don’t see why anyone wouldn’t do this if they had the money and the discipline. This is an investment, not a get rich quick scheme… Compared to how much you can generate in the long run, the upfront investment to join is more than fair, if not a bit generous, in my opinion. I’m making more than 50% of what I made in the stock market the last 5 years in the past 3 months with my first property… by just putting in 2 hours/week, if that. My reason for wanting to work here is directly correlated to the value and support that I've received since joining as a student--I'd like to spread the same good and help others along their real estate journeys!! Feel free to message me if you have any questions about my personal experience, I'd be happy to help.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
If you're thinking of joining, these would be my tips 1) be inquisitive, ask questions. You don't know what you don't know. 2) Follow the coaches'/mentors' guidelines, they're there for a reason. 3) Steer clear from deals they don't recommend. 4) Be easy and pleasant to work with, this will go a long way. At the end of the day, there are many people succeeding with FlipSystem, and only some who aren't. I would pay attention to those who are and what they're doing.
So you just joined BP and have 3 posts. Let me guess to shill for this guru?
Feel free to checkout my LinkedIn, I’m also happy to share my receipts and property closing docs.
- Rental Property Investor · Los Angeles · Member since 2022 · 1 post · 1 vote2yHey Neil,
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.
I am a Flipsystem student here. I can say in my own experience, if you are wanting to flip houses with the least amount of risk, start investing in RE in general and scale your real estate business, this is the best option I have seen.
This isn't a get rich quick scheme. Real estate is a long term game. It's about learning the skills and gaining access to the resources you need to be able to build a legitimate business. Think of Flipsystem like going to college. All of us understand college. Pay a large some of money to an institution to teach us "skills" to make us be better candidates for the work force....
However, instead of being over 100k+ in debt after your 4 year investment, with no job lined up to pay off your education bill....in Flipsystem you are paying off your "tuition" as you go. From day one you get access to a mentor (like a professor, who is an expert in the space...Antoine has done over 650+ deals)...you get selected a market that best suits your goals, and you get direct connection to your mentors contacts that has done all his deals. So your odds of succeeding are pretty high sense you are using the same teams. Lastly, they help you find the deals and breakdown all the numbers so you know what makes a good deal.(finding the deals was super helpful for me. I didn't know how to find a deal or run the numbers or what were good neighborhoods to invest in.)
The education piece on all this is priceless. It will last you a life time to be able to continue doing this for as long as you want. You will get connected to their lending partners as well so you don't have to work with any shady lenders that are going to overcharge you for lending you out their money.
In my first 6 months of Flipsystem, it was slow for me. I was learning and building. After my first year in Flipsystem, I had done 3 full deals, profiting on each one. Being a newbie and making money on each deal is no easy feat. In the last 6 months I have done another 4 deals and just bought my 8th(profiting on avg. 17k on each deal). I can say, I feel like Flipsystem was everything I wanted it to be. It gave me the confidence to invest, it gave me the teams I need to be able to do the flips, and now I have all the systems in place to scale. I am recycling my money back into my business and just buying more and more projects. It's all about the compound effect. Now that I am on my 8th deal in 1.5 years, I am looking forward to seeing what happens over these next 6 months and beyond. Hope this helps Neil. - Investor · Cincinnati, OH · Member since 2019 · 25 posts · 52 votes1y
@Jay Hinrichs. And all. Just wanted to finally write the post I said I would after I completed my one and only retail flip through flipsystem.
Unfortunately for me, Jay, you were right. Retail flipping homes is high risk.
Recap - I joined FS in 2023 with intent to flip many and generate more $ to invest with. started in cleveland market with no luck and switched to cincinnati market (where I live).
Bought off market 3/2 cape cod for $102k in cash 10/2023. Seller wouldnt turn on Utilities so couldnt check major items. Rehab estimated at $63K. ARV of $210-$215k. So it appeared to be a solid deal.
Well, there were many costs that just piled up over the rehab timing. like, drain lines that needed clearing, a water leak, having to switch to a 3/1.5 due to the odd layout. replacing AC unit (not factored into above rehab number), replacing Furnace (not factored), replacing roof) not factored, demoing and painting basement (not factored).
Time also played a factor as the contractor was not good. Lucky though for me I am local and could go over and check all items after complete. I had to tell him many times to fix items.
Rehab started OCT but didn't finish until JUNE 8 mo later! GC said 4 months initially.
By June i'm at $183k spent. I used HELOC so interest only payments continue.
Staged and listed and got a Ton of attention. Excitement was high. Accepted offer for asking $210K. Inspection back with whole slew of items. Buyer wanted $15k in items/credits, I denied as there was so much attention I thought for sure I could find a better offer. Back on market and lots of showings but no offers until mid July (cash institutional buyer) Offer of $204K but they wanted $20K in reduction after inspection.
Meanwhile I replaced roof (many buyers kept mentioning it so vs doing credit for same amount I just replaced) so total spend up to $188k with HELOC juice and half year tax payment.
More showings, dropped list price to $204K , no offers until 10/2024, $204K but again wanted many repairs and the aluminum branch wiring was the exit reason due to "insurance".
At this point I am not happy with agent (Do not recommend Howard Hannah) and I ask to release contract as I need to drop price and their commission is keeping me from profit. Well, they said sorry bud you signed a 12MO contract (lesson again learned to not ever signed an agent contract for 12mo) and they wouldnt release me so I just rode it out until contract was over.
I list FSBO in JAN 2025 through Homecoin(great site) $179500 offer came in a few days after list for list. Inspection requests were minimal but they wanted closing costs paid so it went through and sold in FEB.
All in $190K and came home with $165K. So $25K lesson learned. (I did not want to BRRRR or sell turnkey I just wanted out as I was afraid the bad rehab was going to cost me long run)
After all this, If I could have advised my self before getting into flipsystem, I would have said, Do not do this. I would have said, go to your local Real estate chapter and ask the leaders who in the group is the best at what you are trying to do in your area. Connect with that person or persons and offer to pay them to learn it all or try your best to learn from the RE meetings. They might offer up the knowledge for less than you'd think. I do get it thought that the point of FS is to not have to do any of that (education, finding people, finding teams, vetting teams, etc) and just have it done for you asap.
What do I think of Flipsystem? The education and calls were good, the team they told me to "trust" in my market was bad. Maybe it's just me and my experience in Cincinnati though as I cant say anything about the teams in other markets. I do see though, if the teams were better in my market FS would be a good program.
Did I take on too big a project for my first retail flip? I think so, but the FS team led me to believe I could make it happen.
Did I learn valuable lessons, absolutely. Should I have listened to @Jay Hinrichs absolutely LOL.
- 1yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votesThanks for the follow up.. not often folks will post about a deal that did not go right. FS is not a system its just pay them get referrals and prey :) We all take loss's in the flip world myself included its part of the game.. But to pay a big chunk up front just puts that much more pressure on what are tight deals these days.. all the best.
Quote from @Max S.:
@Jay Hinrichs. And all. Just wanted to finally write the post I said I would after I completed my one and only retail flip through flipsystem.
Unfortunately for me, Jay, you were right. Retail flipping homes is high risk.
Recap - I joined FS in 2023 with intent to flip many and generate more $ to invest with. started in cleveland market with no luck and switched to cincinnati market (where I live).
Bought off market 3/2 cape cod for $102k in cash 10/2023. Seller wouldnt turn on Utilities so couldnt check major items. Rehab estimated at $63K. ARV of $210-$215k. So it appeared to be a solid deal.
Well, there were many costs that just piled up over the rehab timing. like, drain lines that needed clearing, a water leak, having to switch to a 3/1.5 due to the odd layout. replacing AC unit (not factored into above rehab number), replacing Furnace (not factored), replacing roof) not factored, demoing and painting basement (not factored).
Time also played a factor as the contractor was not good. Lucky though for me I am local and could go over and check all items after complete. I had to tell him many times to fix items.
Rehab started OCT but didn't finish until JUNE 8 mo later! GC said 4 months initially.
By June i'm at $183k spent. I used HELOC so interest only payments continue.
Staged and listed and got a Ton of attention. Excitement was high. Accepted offer for asking $210K. Inspection back with whole slew of items. Buyer wanted $15k in items/credits, I denied as there was so much attention I thought for sure I could find a better offer. Back on market and lots of showings but no offers until mid July (cash institutional buyer) Offer of $204K but they wanted $20K in reduction after inspection.
Meanwhile I replaced roof (many buyers kept mentioning it so vs doing credit for same amount I just replaced) so total spend up to $188k with HELOC juice and half year tax payment.
More showings, dropped list price to $204K , no offers until 10/2024, $204K but again wanted many repairs and the aluminum branch wiring was the exit reason due to "insurance".
At this point I am not happy with agent (Do not recommend Howard Hannah) and I ask to release contract as I need to drop price and their commission is keeping me from profit. Well, they said sorry bud you signed a 12MO contract (lesson again learned to not ever signed an agent contract for 12mo) and they wouldnt release me so I just rode it out until contract was over.
I list FSBO in JAN 2025 through Homecoin(great site) $179500 offer came in a few days after list for list. Inspection requests were minimal but they wanted closing costs paid so it went through and sold in FEB.
All in $190K and came home with $165K. So $25K lesson learned. (I did not want to BRRRR or sell turnkey I just wanted out as I was afraid the bad rehab was going to cost me long run)
After all this, If I could have advised my self before getting into flipsystem, I would have said, Do not do this. I would have said, go to your local Real estate chapter and ask the leaders who in the group is the best at what you are trying to do in your area. Connect with that person or persons and offer to pay them to learn it all or try your best to learn from the RE meetings. They might offer up the knowledge for less than you'd think. I do get it thought that the point of FS is to not have to do any of that (education, finding people, finding teams, vetting teams, etc) and just have it done for you asap.
What do I think of Flipsystem? The education and calls were good, the team they told me to "trust" in my market was bad. Maybe it's just me and my experience in Cincinnati though as I cant say anything about the teams in other markets. I do see though, if the teams were better in my market FS would be a good program.
Did I take on too big a project for my first retail flip? I think so, but the FS team led me to believe I could make it happen.
Did I learn valuable lessons, absolutely. Should I have listened to @Jay Hinrichs absolutely LOL.
- Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes1y
Quote from @Max S.:
@Jay Hinrichs. And all. Just wanted to finally write the post I said I would after I completed my one and only retail flip through flipsystem.
Unfortunately for me, Jay, you were right. Retail flipping homes is high risk.
Recap - I joined FS in 2023 with intent to flip many and generate more $ to invest with. started in cleveland market with no luck and switched to cincinnati market (where I live).
Bought off market 3/2 cape cod for $102k in cash 10/2023. Seller wouldnt turn on Utilities so couldnt check major items. Rehab estimated at $63K. ARV of $210-$215k. So it appeared to be a solid deal.
Well, there were many costs that just piled up over the rehab timing. like, drain lines that needed clearing, a water leak, having to switch to a 3/1.5 due to the odd layout. replacing AC unit (not factored into above rehab number), replacing Furnace (not factored), replacing roof) not factored, demoing and painting basement (not factored).
Time also played a factor as the contractor was not good. Lucky though for me I am local and could go over and check all items after complete. I had to tell him many times to fix items.
Rehab started OCT but didn't finish until JUNE 8 mo later! GC said 4 months initially.
By June i'm at $183k spent. I used HELOC so interest only payments continue.
Staged and listed and got a Ton of attention. Excitement was high. Accepted offer for asking $210K. Inspection back with whole slew of items. Buyer wanted $15k in items/credits, I denied as there was so much attention I thought for sure I could find a better offer. Back on market and lots of showings but no offers until mid July (cash institutional buyer) Offer of $204K but they wanted $20K in reduction after inspection.
Meanwhile I replaced roof (many buyers kept mentioning it so vs doing credit for same amount I just replaced) so total spend up to $188k with HELOC juice and half year tax payment.
More showings, dropped list price to $204K , no offers until 10/2024, $204K but again wanted many repairs and the aluminum branch wiring was the exit reason due to "insurance".
At this point I am not happy with agent (Do not recommend Howard Hannah) and I ask to release contract as I need to drop price and their commission is keeping me from profit. Well, they said sorry bud you signed a 12MO contract (lesson again learned to not ever signed an agent contract for 12mo) and they wouldnt release me so I just rode it out until contract was over.
I list FSBO in JAN 2025 through Homecoin(great site) $179500 offer came in a few days after list for list. Inspection requests were minimal but they wanted closing costs paid so it went through and sold in FEB.
All in $190K and came home with $165K. So $25K lesson learned. (I did not want to BRRRR or sell turnkey I just wanted out as I was afraid the bad rehab was going to cost me long run)
After all this, If I could have advised my self before getting into flipsystem, I would have said, Do not do this. I would have said, go to your local Real estate chapter and ask the leaders who in the group is the best at what you are trying to do in your area. Connect with that person or persons and offer to pay them to learn it all or try your best to learn from the RE meetings. They might offer up the knowledge for less than you'd think. I do get it thought that the point of FS is to not have to do any of that (education, finding people, finding teams, vetting teams, etc) and just have it done for you asap.
What do I think of Flipsystem? The education and calls were good, the team they told me to "trust" in my market was bad. Maybe it's just me and my experience in Cincinnati though as I cant say anything about the teams in other markets. I do see though, if the teams were better in my market FS would be a good program.
Did I take on too big a project for my first retail flip? I think so, but the FS team led me to believe I could make it happen.
Did I learn valuable lessons, absolutely. Should I have listened to @Jay Hinrichs absolutely LOL.
Opinions on the Flip System program aside, it's pretty wild to me that you have no shame in working that Howard Hannah Agent as hard as you did without paying them a penny even though they got you a ton of interest and multiple offers. Seems like the only reason the deal didn't close is because you were too cheap to do a proper rehab. Then you have the balls to trash them and try to weasel out of your contract with them. This type of bush league behavior needs to be called out for the trash that it is.
- Member since 2023 · 243 posts · 199 votes1y
Quote from @Max S.:
@Jay Hinrichs. And all. Just wanted to finally write the post I said I would after I completed my one and only retail flip through flipsystem.
Unfortunately for me, Jay, you were right. Retail flipping homes is high risk.
Recap - I joined FS in 2023 with intent to flip many and generate more $ to invest with. started in cleveland market with no luck and switched to cincinnati market (where I live).
Bought off market 3/2 cape cod for $102k in cash 10/2023. Seller wouldnt turn on Utilities so couldnt check major items. Rehab estimated at $63K. ARV of $210-$215k. So it appeared to be a solid deal.
Well, there were many costs that just piled up over the rehab timing. like, drain lines that needed clearing, a water leak, having to switch to a 3/1.5 due to the odd layout. replacing AC unit (not factored into above rehab number), replacing Furnace (not factored), replacing roof) not factored, demoing and painting basement (not factored).
Time also played a factor as the contractor was not good. Lucky though for me I am local and could go over and check all items after complete. I had to tell him many times to fix items.
Rehab started OCT but didn't finish until JUNE 8 mo later! GC said 4 months initially.
By June i'm at $183k spent. I used HELOC so interest only payments continue.
Staged and listed and got a Ton of attention. Excitement was high. Accepted offer for asking $210K. Inspection back with whole slew of items. Buyer wanted $15k in items/credits, I denied as there was so much attention I thought for sure I could find a better offer. Back on market and lots of showings but no offers until mid July (cash institutional buyer) Offer of $204K but they wanted $20K in reduction after inspection.
Meanwhile I replaced roof (many buyers kept mentioning it so vs doing credit for same amount I just replaced) so total spend up to $188k with HELOC juice and half year tax payment.
More showings, dropped list price to $204K , no offers until 10/2024, $204K but again wanted many repairs and the aluminum branch wiring was the exit reason due to "insurance".
At this point I am not happy with agent (Do not recommend Howard Hannah) and I ask to release contract as I need to drop price and their commission is keeping me from profit. Well, they said sorry bud you signed a 12MO contract (lesson again learned to not ever signed an agent contract for 12mo) and they wouldnt release me so I just rode it out until contract was over.
I list FSBO in JAN 2025 through Homecoin(great site) $179500 offer came in a few days after list for list. Inspection requests were minimal but they wanted closing costs paid so it went through and sold in FEB.
All in $190K and came home with $165K. So $25K lesson learned. (I did not want to BRRRR or sell turnkey I just wanted out as I was afraid the bad rehab was going to cost me long run)
After all this, If I could have advised my self before getting into flipsystem, I would have said, Do not do this. I would have said, go to your local Real estate chapter and ask the leaders who in the group is the best at what you are trying to do in your area. Connect with that person or persons and offer to pay them to learn it all or try your best to learn from the RE meetings. They might offer up the knowledge for less than you'd think. I do get it thought that the point of FS is to not have to do any of that (education, finding people, finding teams, vetting teams, etc) and just have it done for you asap.
What do I think of Flipsystem? The education and calls were good, the team they told me to "trust" in my market was bad. Maybe it's just me and my experience in Cincinnati though as I cant say anything about the teams in other markets. I do see though, if the teams were better in my market FS would be a good program.
Did I take on too big a project for my first retail flip? I think so, but the FS team led me to believe I could make it happen.
Did I learn valuable lessons, absolutely. Should I have listened to @Jay Hinrichs absolutely LOL.
I have a slew of questions regarding this but in general, where did the "$63k rehab" figure come from? The listing?
Did you perform an inspection or walkthrough with a GC? If so, they didn't notice the roof or basement work?
Were you aware of the pending items that the buyer's inspectors eventually found?
What should have the realtor done better as the home still needed a slew of work as you mentioned.
- Specialist · NJ · Member since 2022 · 1k+ posts · 649 votes1y
I think the consensus on this was to stay away. I can tell you what I heard about them:
For referrals they use friends and family
They take zero responsibility for anyone they set you up with
They are expensive
No one I talked to made any money with them
Very, very hard to get a hold of anyone by phone
If they really wanted to help investors, why isn't someone from their organization posting here about all they learned from coordinating/vetting/supplying deals for investors? You think they didn't hit snags with contractors? Of course they did, unless you are a contractor or a close friend/relative of a 10/10 GC, YOU WILL run into GC issues at one time or another.
I was talking to a few wholesalers/investors I know in different markets about the BRRRR strategy and we all agreed, that if you are fishing in the MLS/Costly Wholesale pond, and then trying to figure out the GC piece as well, you will fail miserably. Too much has to go right. For every winner in. the BRRRR right now, I think there's 5 losers.
I shouldn't give this away, but after coordinating 40+ deals of my own, and also I have a lifelong friend who works for a brand name national Hard Money Lender and he is their rep they send to all the lending/investing conferences held by the gurus selling educational platforms on investing.
There's really only one way to do this successfully, IMO.
1) You need to buy for cash at the steepest discount you can find. Some markets can offer a 30% - 40% discount. You either need the knowhow yourself on how to track that down, or you have to get in bed with the person holding the knowledge. It's Auction/Foreclosure/Short-Sale/Direct From Seller in distressed financial situation. Those are your discount buys. So, you need to have capital or raise it and it can't be through syndication unless you know all the rules and guidelines associated with that and there are a plenty. But the cash and the knowledge puts you in an undervalued asset.
2) The easiest exit is to sell it at a mark-up to a waiting investor. Again, if this is not you. You are need to get in bed with a wholesaler who has 100+ investor pool at their disposal. Optimally, the individual finding the properties cam also liquidate them. This can also be done via MLS as well through an agent. The markups on the sales are 30% - 70%. I saw a 35k auction property get sold for 120k last year in the market I am in.
3) If the asset is not in terrible shape, doesn't need a full rehab, you do a wholetail type rehab to it. Maybe new rugs, some fresh paint. Clean out any trash. Then you put it up on the market to sell at a greater markup then the wholesale exit.
4) If the market is right, neighborhood right, economy is right, the project cost makes sense, and the comps show that if you miss your exit sale by 15% that you still do well. Then you wanna do a flip. It makes sense in this scenario. But only if you are sure about the GC or not worth the risk.
5) If the rent you can get makes sense comparative to what your loan amount will be, then it will make sense as a hold. This also depends on project cost. Still need a GC here. But at the refi, only take back what you are in for. Leave all the other equity in the house and keep your debt low and cashflow high. A SFH can cashflow 600+ now instead of 200.
If you are chasing those 70% - 75% deals, it's a slippery slope and you do not have the room for error that you think you do because there's way more unforeseen costs than you think.
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