All Forum Posts by: Matt H

Amarillo, did you say Amarillo? Well I reckon that only steers and queers come from Amarillo, and you definitely don't have horns so that kind narrows it down now does it. I also reckon that if you can't flip for over $15k then you better mosy on outside of county lines, or just focus on doing condo conversions in your area, in which you can usually flip for over six figures, partner.

how about this:

1) Go to chapters or your local book store or to amazon.com and buy a book on flipping houses.

2) Download using limewire old epesods of "flip this house" and "property ladder". Watch them over and over so you'll know exactly what to do, and what not to do.

3) Find out what the local online mls website is there in your area. And find the house yourself. Your realtor sells homes to live in. She's not a professional flipper. So she's only going to know so much I'm assuming.

4) Find a bad home in a good neighborhood. A bad home is one that simply need a cosmetic rehab. The less work it needs the better. Ideally just carpet and paint, and maybe new paint or exterior front.

5) Relist with your realtor and get it on mls. No subsititute.

6) relist to try and pull out at very minimum $50k if not $500k!!!

Now use the profits to redo the process a few times. Then by an appartment building to hold for cash flow and forget about it, capishee!

wooo wooo wooo....it's Sunday night and late, so I must be getting tired, maybe I'm dreaming a little, because I thought I just heard someone say flip for 3k profit? You absolutely got to be ******** me right? All that work for 3k? I wouldn't even get out of bed for 3k, let alone flip a house. You got to be kidding me. I'd say at very very least high 5 figures to 6 figures net net after all expenses. If you're thinking of doing a house flip and you're only showing less than $50,000 net profit, then you're looking at the wrong house and wrong deal to do. It's not worth it. Think about it, if all those bozo's off that show flip this house can make $50k to $200k flipping on there very first try and doing lost of costly mistakes, then you should at least be able to do that right.

Matrix.....listen to what Mike says. What he's showing you is exactly correct. So that's why it's a so so deal at best.

To answer your question the reason you'd want to do a deal where you get it for nothing down is exactly that. You get the building for no money out of your own pocket. So say you buy a 1m dollar apartment using a first and second mortgage. Lets say the cash flow is at break even. (that's usually not the case) That means you're 1 rent increase away from positive cash flow. That also means if the property is to appreciate by 5% which is the national average that means you made $50,000 per year in appreciation. Or best case senario, you condo convert, and cash out with say $500,000 without putting anything down. Ultimately meaning your returns are infinite. But the single most valueable thing you'll gain is the confidence to do no money down deals. that's like buying a license to print money. I was suggesting you go that route as a way for you to get into the market and making offers just like everyone else even if you have little to no funds to work with. Save your funds, you'll need them for other things like if you get a leaky roof or if the boiler explodes. ha ha

Matt

The smaller your mortgage, the less money you will make. So why would anyone want to go 100% down. That's crazy. More like go 0% down, 100% financing.

Hi there, sounds interesting. You don't have to go into great detail but what does this have to do with exactly? Is it realestate, or some other industry? pm me

Am I just being sarcastic? And do I really study his course? No no, why would I believe in his course...his course only allowed me to become a multi millionaire starting with no experience, no properties, and little to no cash and happening over about a 3 year period. Buying a 48 unit worth 2m generating 35k per month, and a 15 unit apartment which I bought with just 100k and now just cashed out of for $1m net net after all expenses and mortgage payout. So why would I believe in his course? That would be foolish don't you think. .....now go buy his course, or your gonna get whacked, capeesh!

Buy an apartment building and forget-about-it, capeesh.

Speaking about seminar junkies, it's Tuesday. Isn't there a meeting on tonight. Maybe some babe will teach us about the silver lining Bling. *lol* ...."and so we all wear silver, seeee". LOL

You still got to set up your office, otherwise you won't be able to get away. *lol* But ya we should go on one of those 4 day deals. Could be fun. At least we'd actually get a chance to remember what warm weather and sunlight feels like.

In Alberta Canada it's the same. Everywhere you go everything is overpriced. Mobil homes are selling for $200k and up, so are 1 bedroom condos.

So here's my advice. Shop in other cities in states. You don't need to buy local. I'm buying in a different province. You should check different states where properties are still cash flowing.