All Forum Posts by: Michael Borger

That's what these forums are for. There are 1001 nicer ways to say what he said. You asked a simple, honest question. Nothing wrong with that and don't let him dissuade you. Ask away.....

Welcome, @Nellie Scanlin. BP is a great place to network. I flip in Hawaii remotely but live down here in San Diego now, where I look for deals throughout California. Best wishes in all your deals.

I know we have some fellow FortuneBuilders students over there. I'm not sure who's actively doing deals, though. I've always been open to Maui but haven't been pitched anything that's really made sense. 

Hey @Abram Ylitalo! Good to see you again - digitally. :) Yes, I'm still around... somewhat. I'm still actively flipping on island but moved to San Diego last fall to prep for having our first kid (and to start doing deals here as well). I'll be back on island a little more regularly now to monitor projects now that our daughter's approaching 6 months soon. Welcome back to the scene - let's stay in touch and maybe hook up on some deals!

Welcome to the island community, @Dayton Tomisato and @John Aranton. It's a fun business that rewards those who 1) commit to education, 2) embrace the concepts of professional and personal growth, and 3) understand that successful businesses aren't built overnight. Maybe we'll do some deals together down the road....

Basic direct mail guidelines are to hit a list 3 to 5 times, about 3-4 weeks between each touch. If by then you still don't have any bites, then by all means retire it (although still mail about 6 months later) and start a new list.

For stuffing, do it once so you realize how miserable it is, then hire a local college student to do it for a cheap rate. You can get your supplies at Fisher on Cooke St. Think like a businessman -- yes, you may save some money doing it yourself, but that's time you could spend driving for dollars, online marketing, door knocking, networking with others, etc.

I highly suggest reading "The E-Myth Revisited" by Michael Gerber. Be the entrepreneur or at least the manager -- NOT the technician.

50 hours is about a work week for most people. How would you feel about a job that pays $5000/week? :)

To your other points, driving for dollars can be effective. I did a nice prehab deal in Aliamanu a couple years ago doing that - I was in the neighborhood speaking to people about a short sale and figured I'd drive the neighborhood while there. I sent out about 30 letters and got the deal which resulted in a very nice paycheck.

Regarding direct mail, you shouldn't be stuffing your own envelopes. That's time that can be spent on higher level business activities. You also might want to try different lists if the one you're using is not being productive.

The key to marketing is consistency, and I firmly believe 90% of this business is marketing. It's not easy, that's for sure, but I'd keep at it.

Thanks for the direction, @Account Closed. Andrey and I have spoken on the phone before (the power of networking on BP!). While not in the past 12 months as I now flip what comes my way, I have certainly wholesaled deals before. And further to that point, any one of the deals that I have done in the past 12 months would have been a paycheck for a wholesaler if that was the source of the deal itself.

I think Hawaii is a GREAT market for wholesaling because if you're using the assignment method, then you're still not coming out of pocket except for temporarily putting down the EMD. So if you're not going to come out of pocket anyway, you might as well do it in a higher priced market with higher margins.

Hello, @Brooke Gibson. There are always ways to get around the high price of Hawaii. If wholesaling, like how I got started on Oahu, then it's actually better because you're getting higher margins while still using other people's money. However, if you're in it for the cash flow, then you already know Hawaii's not the best place to sink your time and energy, despite the occasional nugget. As others have already stated, it comes down to two key items: 1) market education, and 2) quality management. Good luck.

Aloha, Benito. I flip houses regularly on Oahu, even though I live in San Diego (moved here last fall). It's a great market for flipping if you can systematize your marketing and raise enough capital. The latter is the obstacle most run into, so that's going to be important. But you can also get started wholesaling -- that's what I did. Either way, welcome to the community :)