BP Podcast 201: Flipping 100+ “Zombie” Houses with Justin Stamper

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Dead “zombie” houses are everywhere — just waiting for you to bring them back to life if you are willing to take the risk! That’s the story we dive deep into today on the BiggerPockets Podcast when we sit down with reality TV star Justin Stamper, a real estate investor from the Orlando, FL market who has a fascinating and inspiring story of rising up from near financial ruin to become one of the most prolific investors in his market. You’ll learn how his “punk rock” attitude has given him a unique perspective on his investing and how he has been able to flip over 100 “zombie” homes (and wholesale over 200 other deals!) in the past several years. After listening to this show, you’ll be inspired, motivated, and educated enough to tackle your next zombie house!

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This Show is Sponsored By

We just waRealtySharesnted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

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In This Episode We Cover:

  • What is “zombie” house flipping and how does Justin do it?
  • The merits of buying really gross dilapidated properties
  • How Justin got into real estate
  • Why he starting by buying at auction
  • What motivated him to start in real estate despite having lost a house
  • How the recession affected families, especially in Orlando
  • How Justin renovates one to two houses a week via the courthouse
  • How to use a hedge fund to get a line of credit
  • A unique strategy to help people regain their houses
  • How to grow by helping people
  • Details on buying via auctions
  • Things to take note of before buying an auctioned property
  • How many renovations has he done
  • What it is like buying a “suicide house
  • The properties that he doesn’t renovate
  • How he’s finding deals in his market
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “Now it’s time to fight the good fight.” (Tweet This!)
  • “If you want the deals, you got to hustle.” (Tweet This!)
  • “America rewards the persistent.” (Tweet This!)

Connect with Justin

Show Preview

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 80,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

18 Comments

  1. Ive listened to every podcast and this was the best. I didn’t get the most education from it, but Justin’s story was very inspirational. His life story should be required reading for all those who give up on life when times get tough and become dependent on society and government. As imperfect as a country as this is, Justin is proof that hard work and determination can make anyone successful here.

  2. Ian Saingarm

    I listened to the podcast and enjoyed it a lot! He mentioned a few times buying a property with a lien on it, or was there some other term for it maybe? He said he had one lady who had to let a property go due to something like that. Can someone explain how I can avoid that? I feel like this would all hopefully come out during escrow!

    Ian

  3. Will Zena

    Great podcast Justin. It’s very rare to find a successful REI that is so humble and selfless. I applaud you and you are an inspiration. You mentioned that you wish you learned how to buy and hold when you were getting started. Are you doing some buying and holding now?

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