Fixing and Flipping Houses Profit Potential |How To Fix and Flip Houses
How To Flip Houses | Fixing and Flipping Houses Profit Potential
Here is the link to the webinar: https://www.lexlevinrad.com/fixandfli...
In this video I am opening a Fedex in my office, and showing you the checks that came in. These were checks that I received from the Title Company for closings on a fix and flip ($100,000+) a wholesale flip ($26,000) and two small wholesale flips that were $3,600 and $4,500.
The purpose of showing you this is not to brag. That is not my intention (although I am sure you will think it is). What I really want to show you is that it is possible to make more than six figures on just one fix and flip. Actually after repairs and expenses I only made around $80,000 on that fix and flip. But adding all of these checks that came in today's Fedex add up to a lot more than most people make in an entire year.
The question is how is this possible?
Is this even real?
I had a student at a boot camp ask that exact question. They didn't believe it. It made no sense to them. They wanted to know how it was that they went to work every day and worked their a&* off to make $50,000 when I was making that on just one or two deals. At that boot camp, my student Chris was sitting right next to them. I asked in front of everyone. Chris what was the address of the last house you purchased and sold. I showed everyone in the room how to look up the information on the property appraiser website. You see real estate is all public record. You can look up any property and see for yourself what it sold for and what the buyer paid. You can also see what they resold the property for. It's all public record.
I didn't always know how to flip houses. It's hard to believe that I used to have a job and a paycheck (probably just like you). The first lesson that you need to learn is that you will never create wealth working working hard at your job. You are going to need to learn how to invest. And investing in real estate is the best place to start for many reasons:
1. You don't need any cash to get started investing in real estate
2. You can start out by being a "bird dog" property locator
3. You can get paid on every deal you find without putting up any cash
2. You can leverage other people's money (OPM) to invest in real estate
3. You can earn much higher returns than any other investment out there because you are using borrowed money from private lenders and the leverage factor is huge.
The question is, how can YOU learn how to do this?
Step one is get over your cynicism.
Step two is start by educating yourself.
Read books about real estate. I recommend you start with "Rich Dad, Poor Dad" which is not really about real estate as much as it is about understanding how money works and why people don't become wealthy.
Learn how it is possible to make $80,000 on one fix and flip!
Learn how to get the cash to buy a property like this.
Learn how to get the cash to repair the property
How do YOU get started?
The answer is you start by learning how to wholesale. You learn how to find deals for other investors and you learn how to get paid a finder's fee for each deal that you find. In the real estate industry we call this being a "bird dog" or property locator.
You can make fees of as much as 10% or more of the purchase price. That means you could get paid $10,000 just for finding a house for another investor. To see an example of this, here is a video of a house that I purchased from a wholesaler where he made $10,000 flipping the house to me. • Wholesaling Real Estate | How to Whol...
If you are brand new to real estate and want to learn more about wholesaling real estate and how to wholesale and flip houses, then please register for the free wholesaling real estate training at this link below:
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