3 Flipped Houses Before and After in 90 Days as Total BEGINNERS!!
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- Опубликовано: 1 апр 2024
- Want to grow your own house flipping business and sacred to make mistakes? Well I made a ton of them and I will show you exactly how to avoid these house flipping disasters!
Welcome to our RUclips channel dedicated to helping beginner fix and flippers start a successful house flipping business in just 90 days! In this video, we'll guide you through the essential steps to kickstart your journey into the lucrative world of real estate investing where we documented our 3 flipped houses we have done so far.
From securing fix and flip loans for home renovations to finding the right properties and maximizing your profits, we've got you covered. Our advice and actionable tips will empower you to navigate the challenges of starting a house flipping business from start to finish with confidence.
Whether you're a novice or seasoned investor, our comprehensive guide will streamline your path to success. Get ready to turn your dreams of financial independence into reality and embark on a rewarding entrepreneurial journey. Subscribe now and let's flip houses together!
🚨 Free Hard Money Calculator - l.linklyhq.com/l/1vdsx
🚨 Greatest Property Comping Tool EVER - propelio.com#_r_jackson20
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MY TOP RESOURCES HERE:
Free Hard Money Calculator - l.linklyhq.com/l/1vdsx
Greatest Property Comping Tool EVER - propelio.com#_r_jackson20
many of us can't wait for you to beat a record of one flipper on youtubewho said he flipped 100 houses in 90 days
We love unfiltered channels like this❤ definitely HARD MONEY
glad to hear that!! thanks for the comment
It’s not unfiltered. It’s an act. They are frauds. Pretending like they weren’t millionaires before they started flipping. He’s been a real estate broker for years.
@@ccrites123 your something else haha, definitly not a millionaire... but going to be from real estate investing is the goal thats why i started!
This might be the greatest youtube channel for house flipping I've ever seen. You deserve 600k subs not 614
It’s Better for just us to see this than everybody knowing this free game that they’re giving out 😂😂
Great work man. This is the first video I’m seeing. Makes me want to do this to hold myself accountable as well!
Thanks for all the Info 💪🏻 best channel put there
Thanks for this info man, a lot of great information in a way that a normal person can understand. Im just starting to study about flipping and investing you have some great content ! definitely following future videos!
I’m just getting started and I’m watching you bro hoping to do my first deal this month
This is awesome, keep doing these videos man!
Such great info, lots of questions answered! Subscribed and following🎉
the content is so good. Appreciate your hard work !
Thank you so much 😀
Great Video !!
Loved how you just keeping it real. Great job
I appreciate that! go back and start at video 1 I keep it 10000 as i start out as a complete rookie!
Great Video. Hard money
You are an amazing guy. Thanks for this great information.
HARD MONEY!! THANK YOU SO MUCH FOR DOCUMENTING ALL OF THIS!
Love this video!
Glad you enjoyed it! start back at video 1 its a whole documentary and lots of mistakes i made!
Love this.
Thanks for sharing this information with us
Man you seem such an amazing dude, doing whatever you can to take care of your fam and be there for them instead of going to a 9-5. Mad respect. I'm 30 and similar story, been researching for years but it took me losing my job to put things in motion. I'm currently working on my real estate license and meanwhile I am researching GCs, hard money lenders, etc etc. Thanks for your videos.
I appreciate that so much! Yes find the GC first and use my hard money lender Joe he’s amazing at this!
Another great video! Thanks for all of the info, Jackson! Can’t wait to see if you guys close on that house before a payment is due. That’d be crazy!
Well… something happened! Video soon
Wow great videos explain everything in detail, love tour Channel man!!
You inspire me to get out there
Thanks for the videos they are a great help to those who are getting started in the business.
Great video man!!! I was just looking for something this.
your welcome! glad you enjoy it
Amazing content! Thank you! Would love to see one on hard money if you haven’t done one already. This is the first video of yours that I’ve seen.
Thanks for all the info! Would love to see the hard money video. I just put in an offer on my first house all because of you, thanks Jackson
That’s amazing! How did the offer go?
So much value. Thank you for this
Glad it was helpful!
As soon as this video is over, I'm going to start watching your videos from the first one. Thanks for making this make more sense. Looking for buyers in West Michigan and hard money . God bless you all and much happiness and success in REI.🎉
yes start from the beginning then you will get the full process of how we started!!
Your the Best!
Appreciation homie! thanks for the comments!
So happy for you! I'm trying to get started too!! I'm going to make an LLC right after my wedding.
thank you! yup i have a whole video on that i believe its video #3 on this channel
Love this video, thank you for sharing
Thanks for watching!
Thank you thank you❤
Great video 👍
Thanks, hope it helped hearing it from a new flipper
Big fan from the first channel since I moved to Houston.
Ahhhh thanks! Glad you like both!!
Nice video!
hey thanks! check out my very first video its my favorite!
Bro.. I’m not trying to get in the flipping game but I’m a newbie in the buy and hold game. The info is gold man. Ironically I decided not too long ago that I was deep diving too much into RUclips university and said screw it and pulled the trigger just closing a week ago on a duplex. Learned from mistakes right away which led me right back to RUclips, your channel specifically lol
HAHAHHA man that’s great to hear that you are at least “doing shit” now like me haha. Congrats and what was one thing you learned buying your duplex
@@grounduphouseflipping using a conventional loan and my own money for the down payment was not the way to go.. I should’ve used hard money and closed with a DSCR loan because they’ll let me close in my LLC. BUT I learn by doing and I was tired of sitting still lol
Love the content ! I’m more in short term rentals atm in Oklahoma but looking to do some flips !
oh sweet! well you can learn a lot from my mistakes on how to get started haha!!
Nice video man
Glad you enjoyed
Hard 💰 money!
Hard money!
Hard money 100%
How much money reserve do you keep to the side on each flip to afford the payment on the hard money for the next flip?
Houston area! Yeaahhhh! My area too
I’m very interested in the actual benefits/drawbacks of being a house flipping business compared to an individual
Following
I really appreciate this information. Started watching you last month right after I Bought my first deal. This has been a great resource for information.
I used traditional financing this time but this breakdown has really made me feel comfortable going with a hard money loan next. Can’t wait to jump into flipping.
Your welcome!! How’s your flip coming?
@@grounduphouseflipping bought this property as a rental . Doing a small rehab on it and keeping it since it was an extremely good deal. Going to refi and use the cash to fund future flips. Just building relationships with people now so once I get this refi done I can jump right in.
Can’t wait to see where this channel is headed. Really do appreciate the information. Way more in depth than the videos I usually see that make the process seem shady.
Appreciate that for sure! Got some crazy stuff coming!! No sugar coat!
@@grounduphouseflipping can’t wait!!
Hard money!
hard part is finding the deals, how do you get yours?
Hey man! I’m currently flipping houses in New Zealand, but my partner and I want to move to Florida, and start a new life doing the same thing over there.
Any advice for us?
yes, whatever you do DO NOT move to florida!!! you are extremely lucky to live in new zealand. spend a few months in florida before u decide.
Hard money
What sources are you using to find out if there are any liens or second mortgages against a property?
That’s the title companies job. They will do that for you once you open title.
I haven’t done a hard money loan yet. I’ve been doing deals for others as the contractor. I’m doing one now But I’m using my own cash. I might need a loan to finish.
just starting/finding deals
Nice. On Facebook groups or are you prospecting?
Hard Money!
How do I get into contact with your hard money lender that you talk about in this video?
Does hard money also cover upfront material cost to start the project?
yes. I have a video that goes into detail of all this and the draw process. i actually break this dow a lot! watch this though! ruclips.net/video/5wPVOiphxyc/видео.html
Lol I've seen Merlin at a few deals I've been to. Great Content! I'm working on a flip here in Houston right now and definitely screwed up the comps. Who do you recommend for me to Triple check the comps?
Did you purchase the property cash? Happy to help you look at comps if you need here in Houston. A good lender always looks at comps before accepting to fund the deal. Also, if you did screw up the comps, there are creative ways to not get clobbered on it via a flip. Reach out and would be happy to discuss.
@@JoeDavisSparkLending hey Joe! That would be great. Yes, Cash/Private funding. Comps looked solid in February. Just got to roll-up my sleeves and get it done at this point.
Hard money Joe does my comps. It’s so important!
@@grounduphouseflipping how can I reach out?
Hey Joe, how can I reach you?
Great video, Just Do It
Hi i already hv a LLC setup. Do I find a house to Purchase or do I look for a hard money lender? And can you recommend a hard lender for NY?
Reach out to hard money Joe! Use the calculator in the description and go to his site tell him I sent ya!
Ok. Thanks
@@maada-iv7srdid you find out if Joe funds deals in NY?
Ahh I forgot. I'm going to reach out and will let you know.
At 7:30+ it means you don't need money, you just need to show that you have it... which, conversely, means that I have to have the money somewhere. What if you don't have a huge stock portfolio or a solid 401k?
Hard Money
First time GC or SUB slips on schedule, give him a warning. second time, FIRE HIM. I gave a guy too much of a break and long story short he delayed my project by a month. Fired him way too late.
The lender uses 70% to protect their interest. They want to make sure that if you fail they can get their money by selling the house as is.
My challenge: finding an opportunity. Facebook is too overwhelming and unable to filter out the best. Also I do not have any contractor yet.
From San Antonio TX
Call 50 local realtors and tell them you’re just starting out flipping. Ask them if they have any off market properties currently or if they come across them? If you call 50 and actually speak to them, you WILL get a lead to walk. Guaranteed! San Antonio is a great market too.
So your GC is okay with doing $27,000 worth of work and materials and not getting paid until those milestones are hit?
I have three great contractors I work with in the Los Angeles area.
Dude puts you in debt the first few mins of this which is crazy
Hardmoney
U should really drop the act. Before you started flipping you were a millionaire real estate broker. It’s not hard to do anything in real estate when you’re a real estate broker and a millionaire.
😂😂😂 I wish I was a millionaire haha. Stay happy homie!
I have no capital...Hard money is my struggle
Say the market price in the area is 250K. And say it takes 75K to renovate with current costs. Say it takes 3 months to repair and 3 months to sell.
If I get to buy the house for 150K, and then I spend 75K on renovation, 12K on interests (for 100K loan), my margin is 13K. 13K over 6 months of hard work is not making sense.
And 2) how do you even find 150K house when the market price is 250K.
3) how much time one has to spend managing these contractors?
1) You want to be buying the property as close to 70% of the After Repair Value minus the repairs. Doing this will ensure you have some profitability & breathing room. In your scenario $250,000 x .70 - $75,000 = $100,000 (Use the cash to close calculator in his comments with these numbers to see your out of pocket).Anything above that 70% is going to be extra out of pocket and works against your eventual bottom line. Practice this formula (ARV X 0.7 - Repairs = My offer price).
2) Just as you are stating, nobody is going to pay for a property that they are going to make a loss on or are paying near retail for. They might as well go on the open market and purchase without the headache of doing repairs. Wholesalers, Realtors, Direct to distressed sellers are all options to find these deals. Jackson goes in length about how he started and built relationships with wholesalers in his earlier videos. A house that needs $75,000 in work is heavily distressed, and the seller will be aware of this. The deals are out there - just have to locate them and is one of the hardest parts of flipping. Also keep this in mind - that house is NOT worth $250k. It is only worth that if someone spends the length of time you mentioned, and $75,000 in repairs. So, the $100k is much closer to it's actual "As Is" value. The property is not worth it's potential (yet).
3) That's 100% depends on the relationship you have built with your contractor. A quality contractor is THE most important factor. If you have a solid relationship they can drastically reduce the amount of time spent on the actual rehab of the project and more time FINDING new deals :)
to be honest this is what i said for years and why i never did anything. i also thought there werent any good deals anymore. I was just telling myself that. well ive been in 90 days and have 3 going. lots of extra costs and mistakes but there are still great deals and lots of houses to flip. you just need to make sure you find deals that show a good chance at making a profit, tour lots of them to guage work etc.
@@grounduphouseflipping"make sure you find deals that show a good chance at making a profit"...Do you start by talking to wholesalers?
@@JoeDavisSparkLending Thank you for the great explanation Joe!
YASSS! go start my videos from #1 this is a complete documentary of how i got started and video #2 is exactly how i find all my deals
Hi, new subscriber here! great video. I have a quick question, what kind of partnership do you have with your contractor? I heard in the video that you pay him as soon as the Hard money lender gives you the money, but do you give (the contractor) any % of money when you sell the house or how does your partnership with him work. Thank you in advanced and continue doing this great videos!!
I have money to buy flips but have hard time finding legit wholesalers selling real deals. Need help to find real deals
ya gotta meet and get on the list of a lot of them! the newer ones are the best and you can also post in groups that you are looking for your own wholesaler or cold caller and form a partnership with them!
I can help you. My name is Melvin, I am a RE Entrepreneur based out of New Orleans,LA. If you don't mind sharing who you are, where you are currently looking to do deals, how many deals a month,your buying criteria, an email and some social media handles where I can contact you. I will be a power player you can add to your list.
'promo sm'
Stay away from New Western...
I like your channel. how do I contact you for questions?
Nice video!
thanks we are just showing what its like to be rookies haha!
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