All Forum Posts by: Account Closed

If you're still looking for active flippers, I'm flipping in Southern Indiana currently.

Ironically, for my flipping business, I wouldn't change much.  I am working on systematizing the business, in order to effectively scale it.  If I had a million dollars, it wouldn't change my activity.  (Putting 100 drivers into one truck doesn't make it drive any quicker).

However, what I would probably do differently is start looking at some large apartment buildings.  I would use half of it as a down payment on a large building, to start bringing in income. 

Once that income was coming in, I would use the remaining to bootstrap my (now systematized) flipping business.

I just ordered that book today.  Give me a couple of weeks and I should have it read.

My intention over the next year is to systematize my flipping business.  My sincere hope is this book will help me do that.

Is this still going on?   I am very interested in this. I am an investor out of Southern Indiana, but I crave the networking portion. If this is falling by the wayside, or everyone just needs someone to step up and coordinate the next event, I can do that.

I don't want to step on anybody's toes, but it seems like maybe there hasn't been one for about 60 days. I'm thinking maybe we can get together in early to mid March.

You seem to have a base knowledge that is necessary to get started, having done it before.

My recommendation is to get out of your own way. Spend your time doing things that will be profitable in the long run. My recommendation, since you asked, is to get out and start looking at properties immediately. Make it your goal to put out at least three purchase offers in the next week. If you don't have a real estate agent that you're working with, start calling today. That is something very simple that you can do immediately. Let them know what it is that you're looking for. Then, get in your car and start looking.

Yes, it will probably be scary. But, making offers, and ultimately getting one or two accepted, is the way to freedom.

We used Select Surfaces Barnwood in our first rehab.  Phenomenal product.  

We also just recently used another Select Surfaces (not sure of the color) in one of the houses we were putting flooring down in for the homeowner.  They will click without issue, but sometime it is difficult.  

All in all, though, I recommend that product.

@Nick Doria,

I'm down.  

I assume you're only talking about real estate goals, so I will discuss only those.

(I'm progressing on goals in all areas of my life.  See 

http://miraclemorning.kajabi.com/sq/12270-tmmbookc... for a free kit (including the wheel of life) that will help you create goals for all major areas of your life.  (Not affiliated.  This is part of Hal Elrods book 'The Miracle Morning' which I recommend to anyone and everyone)).

So, on my real estate goals, I am doing a myriad of things.

First, for full disclosure, even though I have a deal under my belt, I consider myself a total newbie.  

I'm imminently closing on the sale of my first rehab (fix and flip).   I am actively looking for another house (or two, if I can swing it) to replace it.  (By actively, I mean between 5 and 10 houses per week).  

I'm also actively looking for rental properties, both SFR and multi-families, although I am really, really trying to find multi-families at the moment. I don't own any yet, but they're not going to hop into my lap.

I have put four purchase offers in during the last week on homes.

I'm also taking classes to become a real estate agent (7 hours a week contact, plus around 5-6 hours of outside-of-class study).  I'm 1/3 of the way through (actually have my first of three (class) tests this coming Monday).

To support my real estate habit, I actively listen to (of course) BP podcasts.  When I work out in the morning, I usually find a random one that strikes my fancy and listen to it (there are SO many).

I'm currently reading 'The Millionaire Real Estate Agent'.  I like the premise, but I don't think my passion is going to be in the real estate broker / agent arena.  The real money is in investing (plus, it sounds a LOT more exciting).  Consequently, I've ordered "The Millionaire Real Estate Investor.  I will finish reading the former before the latter arrives, mainly because I do intend on following the advice as closely as possible, whether or not I intend to make being an agent a full-time pursuit.

I love, love, love flippingjunkie.com.  I've listened to all of his podcasts and am trying to learn as much as I can from Danny.  He's a brilliant guy who's made a successful business.  He's about as extroverted as I am.  (If that guy can do it, so can I).

I also actively take the training on houseflippinghq.com (house flipping training).  I signed up last July or August and have been regularly taking training. 

The more I learn, the more I discover there is to know, as there's WAY more to flipping than "flipping knowledge".

In anticipation of me actively acquiring a rental (hopefully already occupied), I'm actively reading 'Landlording on Autopilot'.  I've downloaded and customized the forms and am actively trying to make a plan based on the activities outlined in the book.

I currently have partners in my flipping business, one of which takes the main role of determining WHAT to do (SOW) for the house.  I have zero construction / rehab knowledge or experience, so I've read both of J. Scotts books and have also gone through the Real Estate Rehab Investing Bible.  These gave me a good introduction and game plan for allowing me to either make my own statement of work or know what the heck a contractor is giving me when I look at their statement of work.

To that end, I also ordered the 'National Repair & Remodeling Estimator 2016 (National Repair and Remodeling Estimator) (National Repair & Remodeling Estimator (W/CD))'.  (This isn't a book to "read".  It will be used as a resource when I create my first real-life statement of work, which is imminent).

I'm actively attending my local REIA meetings. The networking value is huge at these things.

I'm also working with an accountability partner that happens to be in real estate (an investor, agent and property manager).  This individual helps hold me accountable to the action items I've listed to perform the goals I've outlined for myself (I work quickly and take massive action, so I've outlined goals taking me only into the end of the first quarter of this year).

I'm constantly on YouTube looking at different videos on a myriad of topics concerning flipping, financing and real estate in general (usually this is a last resort /exhaustion type of thing.  I get on YouTube and view videos when I'm tired of everything else and want to fool myself into thinking I'm doing something productive.  I've actually gotten some significantly good knowledge on there periodically, so it positively reinforces that habit).

I think that's it.  It seems like a lot, and it probably is, but it's all pieces to the bigger puzzle.  I'm a huge action-taker.  Most people are not.  I'll be following this thread in anticipation.

(P.S.  I wake at 4:20 every morning.  I exercise.  I drink a gallon of spring water daily.  I eat coconut oil for energy.  I follow the six principles outlined in 'The Miracle Morning' (Silence, Affirmations, Visualization, Exercise, Reading and Writing).  I don't watch TV.  If people look at my list and wonder the "how", that's how.  I think most people are wasting their life and they don't even know it.  I've never met anybody (in real life) that lives life on purpose.  I'm constantly on the prowl for this type of person.)

 The above again and again.

Also, stop being inconsistent.

Figure out what you want.  Make a plan to get it.  Take massive action.  Hire a coach or mentor.

Also, wake up early. 
Drink a gallon of water daily. 
Use coconut oil (1 tbsp daily 4 X a day) for energy (http://www.livestrong.com/article/128275-coconut-oil-energy).
Exercise.
I highly, highly recommend stopping watching any TV.  Give up social media.  Stop looking at the internet for anything except what matches the outcome of your goals.

Then, simply follow the process outlined.  Yes, it will be hard work.  You WILL fail.  No problem.  Get back on track the moment you realize you're off track.  Start following the process again.

Yes, attend KREIA meetings.  Listen to podcasts.  Get educated.  But, TAKE ACTION.  Go see houses.  Make purchase offers.  They probably won't be accepted if you're doing it correctly.  That's ok.  Make purchase offers KNOWING they probably won't be accepted.

(So, why would you do that?).  You want to become comfortable with that, so when your purchase offer DOES get accepted, you're ready to move to the next step.

Stop waiting for permission.  Your life; your legacy; all of this is up to you.  Get out there and work your butt off.

Let us hold you accountable if that's what you need.  But, just do it.

Keep rockin'.

I highly recommend the KREIA meetings every month.  There's one in Southern Indiana as well (for the sub-group out there).

http://kreia.com/

Start here and learn your a$$ off...

https://www.biggerpockets.com/starthere

If you're wanting to flip first (what I'm doing), I highly recommend getting a copy of J. Scott's books:

http://www.amazon.com/Book-Flipping-Houses-Residen...

and

http://www.amazon.com/Book-Estimating-Rehab-Costs-...

I'm just finishing up both of them now.  The resources for the statement of work (SOW) are proving invaluable to me, now that I'm almost finished with my first flip and know more about what is going on.  As I move into my second and third house, the SOW by itself will save massive amounts of time.

Is it too late to get in on this?  I just saw this after setting up a keyword alert for mastermind.