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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We just wanted 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!
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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
- BiggerPockets’ Youtube Channel (don”t forget to subscribe!)
- BiggerPockets Videos
- Ken Corsini’s Show ‘Flipping the South’
- Ken Corsini’s BP Profile
- BP Podcast 089: From High School Dropout to 300+ Real Estate Deals with Engelo Rumora
Books Mentioned in this Show
- The Book on Flipping Houses by J. Scott
- The Book on Investing with Low or No Money Down by Brandon Turner
- “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
- Justin’s BiggerPockets Profile
- Zombie House Flipping
- Highest and Best Clothing
- Justin’s Company Profile
- Justin’s Personal Website
- Justin’s Twitter Handle