Are you interested in learning how to flip 8-12 houses a month at $30k a pop? Well, this episode may be just what you’ve been looking for! On today’s show, we interview Melissa Johnson—house flipper extraordinaire and owner of the company Lead Propeller, a service that provides websites to help motivated sellers find real estate investors. Melissa provides some incredible information regarding how they find motivated sellers, how they negotiate deals, how they sync up with the best contractors! You won’t want to miss the three things your website NEEDS to generate seller leads, as well as the exact process to estimate rehab costs! Melissa and her husband Danny run the podcast Flip Junkie, and in this episode, they pull back the curtain to reveal the secrets to their business. Don’t miss out on your chance to learn from a seasoned pro!
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In This Episode We Cover:
- Melissa’s story of getting into real estate
- How everything went wrong on her first deal
- Why she doesn’t recommend a “burnout”
- Their amazing average flip volume and profit (hint: 8-12 deals a month!)
- Her top three lead sources
- How she uses SEO to her advantage
- Advice on putting up a website
- A discussion on flipping vs. wholesaling
- How to find the right contractor
- Tips for figuring out rehab costs
- Things to do when you go over budget
- And SO much more!
Links from the Show
- BiggerPockets Forums
- BiggerPockets Webinar
- Mission Meats
- BiggerPockets Perks
- BiggerPockets Podcast 144: Getting Out of Your Comfort Zone and Kicking Butt at Real Estate with Danny Johnson
- BiggerPockets Podcast 018 : Flipping, Marketing, and Wholesaling with Danny Johnson
- Episode 2: Is Wholesaling Illegal? w/Brandon Turner (FlippingJunkie Podcast)
- BiggerPockets Rehab Estimator Calculator
- BiggerPockets Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod
- BiggerPockets Podcast 284: The “Miracle” Behind Becoming a Millionaire with Hal Elrod and David Osborn
Books Mentioned in this Show
- The Miracle Morning by Hal Elrod
- Flipping Houses Exposed by Danny Johnson
- The Five Temptations of a CEO by Patrick Lencioni
- The Advantage by Patrick Lencioni
- Grit by Angela Duckworth
Fire Round Questions
- What is the best way to go about finding a dependable, trustworthy contractor in a large city?
- What is your criteria for finding a project manager?
- Do you strictly work with licensed and insured contractors?
- How do you “ballpark” the repair costs for a flip and for a rental so that the turnaround on an offer is faster?
- What do you feel are the top 3 skills to do yourself rather than hiring a contractor?
- What are the best types of loans to get for buying rental properties and rehabbing them?
- “We are selling them solutions to their problems.” (Tweet This!)
- “Sellers feel more comfortable with people who seem real.” (Tweet This!)
- “We need to be the ones in control of the situation, not the contractor.” (Tweet This!)