The “3 P’s” That Helped Us Land Our Very First Million Dollar Fix & Flip [Video!]


Hey there, BP! We are so excited about our most recent fix and flip project. It’s a huge home in a great area that we saved from foreclosure. It was literally a few days from the courthouse steps when we bought it. In this video, learn about the 3 factors that led us to this deal — what I call “the 3 P’s”!

  • Plan: To bring about what you want to see in your business, you need an effective plan. That should include as much detail as possible — what types of deals you want to do, how many of them, what your target profit margin is, and what the key people and processes that need to be in place to make your deal happen are.
  • Process: You need to have an infrastructure in place so that when that big deal gets reeled in, you can bring it to fruition. That process includes everything from how you are going to fund the deal to who will do the rehab work and how you will resell it.
  • People: People are the most important part. Once you get your plan and process flat, it’s time to get out there and start telling everyone in your network about them. Also, think about people you don’t know yet who would be able to help you meet your goals. Make the reach outs and let them know that you are ready to move on a deal when it comes up.

Related: House Flipping: 5 Vital Tips for Success (Based on My Mistakes!)

Check out the video attached to learn more.

If you watched the video, please leave a comment so we can get a good conversation going on this.

Happy investing!

About Author

Matt Faircloth

In 2005, Matt founded The DeRosa Group along with his wife, Elizabeth. At the time, the two person company owned and managed two assets – a single family home and a duplex. Over the last nine years, they have grown the company to a 12 person team owning and managing over five million dollars in residential and commercial assets throughout the central NJ and Philadelphia area. One of DeRosa’s mantras is “to make money while making a difference.”


  1. Ashley Wilson

    Congratulations! Being from PA (mainline area), and flipping there as well, I am especially excited for you! I think your 3P’s are excellent, and I completely agree with them. I have looked into some more expensive homes (ARV 1mil+ range), however, I was a bit concerned about the holding time. It seems that on the mainline the time on market dramatically increases when you get above a certain threshold (in our area I believe it to be 650-700 is the threshold). Thus, I was thinking it might be more beneficial to go after homes with ARV at a max of 650/700. Another benefit too, is the ability to spread out the risk, for example if you are doing two houses compared to just one. What are your thoughts on that? As I am still relatively new to this, I would love to learn more from you, especially considering our geographic connection. Thank you again for a great post!

    • Matt Faircloth

      Thanks Ashley!

      Good to hear from you! I love the Main Line area, I used to live in Conshohocken and Manayunk before that. This particular house is in the Langhorne area so not too far. We ended up using bank financing after doing the math on what a private lender or hard money would cost us on a deal of this size. Total hold time in our budget is 5 months – 2 months for rehab and 3 months for sale. We have seen the same absorption rate for other properties of this size in this area.

      Since you are local (and to anyone else out there from NJ or PA) you should consider coming out to our REIA Group in Princeton. More info is at I hope to see you there!

      Speak soon!


  2. Steve Francis

    Congratulations Matt! I love the 3 P’s! I look forward to hearing more about the numbers. I live in Conshohocken now and settling on my first duplex rental in Bridgeport next week. Just getting started in the game here. I’ve also been looking for fix and flips in Montgomery county. Your story is very inspiring especially since we’re in the same area. Congrats again!

Leave A Reply

Pair a profile with your post!

Create a Free Account


Log In Here