Great interview. Several take aways 1. Real estate is the least difficult way to become rich. 2. Having a good partner greatly increases your chances for success. 3. Marc Russo is a great communicator, 4. You need private investors to succeed in real estate. 5. The Seattle area with Amazon, Microsoft and Google has been tremendous for the real estate sector.
He is so true!!!! At the end, it’s not about the money, it’s about who will be by your bedside during those final days, money can’t do anything for that transition!!!!
WOW! WOW! WOW! What a company, concept, leadership, plan, .... and genuine people behind it! The caliber of this business is a marker for excellence. Anyone who can use this guidance to build their own home building business dream will be light years ahead of the wanna-bees! EXCELLENT interiew and EXCELLENT business to emulate !
I own a restaurant and am currently looking for a way to grow and own my own building but it often feels that I don't know where to turn to grow when the banks say no...over ans over. I like the video because here is a guy who defeated failure and still knows how to keep himself humble. Nice. I would love to grow like this.
I hate working for people and believe in being your own boss but this is a guy I wouldnt mind calling boss. So genuine and learned so much from him that im going to apply into my business TODAY!
Seems like a lot of risk for only a 10% profit before tax . Idk about this one. Money isn’t easy to make that’s for sure . I did 400k profit on a duplex conversion bought off market. You don’t always have to tear down and build new . Get creative . Buying off market is the key for sure
@@robertyarbrough4925 I know home builders personally and the profit is 10% or less. It depends what the developers are selling the lot for etc. you have to be big and have relationship with developers to get the deals on the lots. Or you can door knock and do what these people do. End of the day getting the off market deal or “wedge deal” is how you have to start otherwise you’re playing with fire on the profit side. You need that sweetheart deal to make the money that’s what I’m saying . It’s a must have / part of the business model.
@@nickyweav5820 just like buddy says in this video. Door knocking. You can do flyer campaigns. You can do cold calling. You should learn how to write an offer up yourself and just have a lawyer to close the deal for you. Have a print out of purchase agreements in your car ready to go. Also let all your friends family know that you’re buying property and get the word out. People that are embarrassed to sell online (mls. I’m in Canada sorry) and people that want a quick sale will sell private (off market). They can usually get more money selling online with an agent cause there’s more buyers and competition but there are people that don’t want to do that cause they don’t want neighbours knowing they are selling or people coming to check out their house and see how they live. Could be a hoarder house or sloppy inside etc. many reasons people would sell to you off market for a lesser price. Just keep in mind no agents getting paid so instantly you should get a 5% discount cause that covers commission fees. Then negotiate down from there . Pick at the house . It needs this it needs that etc. always buy fixer uppers never buy a turn key property. You want to add value. Buying off market gets you ahead of the game cause you’ll already be up x amount of equity just from the purchase . There are people (wholesalers) that get a contract signed to buy the house, and then before the deal closes they sell that paper to another buyer for a profit. I’ve seen 100k being made just by doing this. That can work in a hot market.
Respect to Jay Mezistrano for having the mind and energy to push through the last economic crisis and not default on your debts. Didn't file bankruptcy... Instead he put the boots back on and went to work rebuilding. You're an inspiration. Hard money is tough but gotta start someplace.
Thank you SGBBCO. Jay and I worked really hard to make this happen. I agree, hard money to start, but too often people settle and remain on it long term.
Thank you for your kind words! We're glad to hear that Mr. Jay and his team's journey has served as an inspiration to others. Keep pushing toward and never give up on your dreams! ❤
Video content, subject and delivery make this a "must watch" video for anyone looking to improve on their success. There's something to gain for everyone! Bravo for creating this content, simply put, this was a great video! Thankyou
Recession "well maybe we're not in one right now" crazy the times we're in. Interest rates have risen near 100% compared to 2 years ago and real estate in most markets is still crazy competitive.... The future will sure be interesting!
Yes, we were in a real estate recession April to December. But since the first of the year, even with increased interest rates, buyers are out buying homes, albeit at lower prices compared to a year ago. Future is complicated with supply, demand and interest rate uncertainty. Just keep hitting singles until the light at the tunnel is brighter.
There are great secondary lenders that I would recommend. Seattle Funding Group was amazing to work with and did dozens of projects with us over the years. Happy to connect you.
House prices in US are crazy. I work in IT, but I wouldn't be able to afford anything nice in the US. That's why I prefer to work remotely from abroad.
Been in home remodeling and new construction for over 10 years and can firmly say none of these houses look like several million dollars more like a couple hundred k
@@meridancrypto8226That's why you can say that. Different market, different home value. Like they said, they're near major tech campuses. That alone shoots the home value up 200-400%
Yes, it's all a risk. But take calculated risk. Do lots of homework looking at the pros and cons, then come up with a conservative business plan. You can do it!
When you hear someone say that he and his partner didn’t have money so they had to sell their Porsche & Range Rover AND they had previously borrowed millions of dollars from the bank, it’s important to remind yourself that 1) this is someone who has created an alternate reality for himself and 2) he and his partner did not manage their money (and business) well.
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
hi please I am in dear need of your assistance am a student in Africa, honestly things aren't Rosy for me due to bad leadership policies over here that why am reaching out to you and anybody that wish to help me in any way they can , I have skill but do not have capital to start up something for myself self, am not a scammer am real I can give you my number if you wish verify , I really need your assistance I believe there are good people in the world that can still help me , thanks you God bless you as I await your reply.
In the beginning of the video Marc told he paid 920k for the house that going to be torn and he could see it for 3million dollars. Also he said the profit margin is 10% which is just 300k. The maths didn't add up. Am I making any mistake here?
They both combined had 30 houses, and had to lose everything in the crash. They probably overleveraged to the extreme where all their houses had close to no equity, reling on rent to pay the mortgage, and in 30 years they own all 30 homes outright. Greed comes into play and its very dangerous to do that. If tenant doesnt pay, destroy the house, major expensive house fix, rent decline in the area happens, they are toast. Its great to boast about having 30 houses, it gives you status, women, cockiness. Its all a house of cards ready to collapse though. The big lottery win is if they bought all 30 houses from 09-11, and the whole seattle area went up in in value by 400k per house, they would be so rich by now. That would be 12 million (400k x30) in house value.
The very first point to this video … be careful how much you leverage . Everyone’s doing good until the ball drops . Just like what’s happening exactly right now with interest rates shooting up. Everyone was winning with the low rates and refinancing buying more property doing the 80/20 LTV. Be careful how fast you want to move people because a bankruptcy will set you back many many years. I have friends right now today squeezed . I had people laugh at me cause I didn’t do the traditional 80/20 (meaning leave 20% in the house pull as much of it out). Be aggressive but also always be paranoid. Worst case scenarios happen. Don’t get too risky or when the tide goes out you’ll be able to see who’s swimming naked 🥲
The number one piece of advise in any business plan is to keep the government and bureaucrats out of your business! The government is like sand to a wheel bearing, it a catastrophic recipe for disaster!
Thanks for sharing your thoughts. The success of a business also depends on various factors, including a well-planned strategy, great customer service, and a strong team.
Hard money is money that is not conventional bank financing which has lower rate and fees. The reason why I suggest to get off hard money is because in this business, the extra few percentage points add up and make a difference to the bottom line.
@@marcrousso3214 thanks, in the uk. We borrow at 1% in and 6-7% interest with commercial banks. Hard money - we call merchant banks and bridging companies- these are generally 1% in 1 % out plus 9-15 %
Man I like your videos but your editing style is so incoherent. You jump from topic to topic and never really flesh anything out. I think you'd really benefit from a more cohesive outline, flowing from one point to another in a way that makes sense.
The risk reward ratio is lacking in this business - shooting for 10% profit in high end flipper real estate is just not a solid plan. Hopefully that was just bs. I built my own home and saved at least 25% in cost per square foot on the build over other contractors, so, I know it is possible to run crazy good numbers.. but it gets pricey when you've got to buy the junk house on the initial property purchase. You could easily lose your ass, especially if the bank has problems or hits you with a deficiency if the market drops suddenly, as in 2008. I would never advise anyone to make deals like this, unless you've got deep pockets that can carry the project to completion in case of disaster, so that you can get the home finished with a Certificate of Occupancy and then you've got mortgage-ability, and then you can rent or sell to a much wider range of customers.
Richard, Any real estate business with velocity has margins as I mentioned in the video. For example DR Horton ranged from 7.59 to 17.5% the past five years. Wish you continued success with your ventures.
We were definitely in a residential real estate recession from April to December of 2022. Now we navigating high interest rates combined with low inventory and strong migration into our region. It varies by the area you live in, but definitely challenging.
@@davidjonburke2729 Hard money is necessary for most of us to get started, but as you grow, the extra percentage points make a big difference on profitability. Current rates for builders from banks are around 9% vs. hard money 5 points higher.
So he wasnt actually making money, he was borrowing millions of dollars (literally) and then slowly made money on those millions. This isnt even hustling this is just borrowing money to the point that you dont own anything.
@@UpFlipPlease get more trucking companies too 🙏. Doesn't matte if it's vans, box trucks, or big rigs. Anything to do with trucking. Thanks. Love the channel, keep up the good work.
unrelated but does the color scheme you use on your thumbnails actually influence the yt algorithm? I notice the top youtubers all use this sort of gold color scheme / facial expression in their thumbnails lately.
Houses made out of Wood and more Cheap Wood…………… 🧐 Never pay or buy any structure that expensive unless it made out of CONCRETE. So many problems with wood, Fire, Insects, Mold, moisture , structure unstable and most importantly Concrete will last twice if not longer…………. Wood Home must be extremely cheap to even be considered
We owed one bank 2.5M and were committed to paying it off as fast as possible. They gave us incentives to pay off faster and took advantage of it. But, yes.. was a major headache to say the least. :)
The houses that we buy are dilapidated built 50-60 years ago in great locations. Would ultimately cost more to remodel with existing foundation. We do send all material to get recycled. It was discussed on the show, but left out of the episode.
hello i really love your content but i was wondering if you havent thought about transforming your long form content into short form to grow your audience if you are interested i would be pleased to do it for you
I can’t wait to leave the Pacific North West. This same house with more land sells for roughly 800k where I’m from and there’s no homeless problems and crime. These prices up here are uncalled for.
This video had no cringe person trying to sell us a course, like that other fellow in Seattle. This is his main source of income. He came from 0 and made it to hero. So, I disagree.
I understand what you are saying. I started from zero twice, and if I can find success, you can as well. It wasn't without relentless hard work and dedication. Wish you success.
🤔Man of his words but refused to answer how much profit to make off of this tear down. He purchased at $970k their gonna build a single house 4,300 sqf (x) market build rate of $100 per sqf = $430k + $970k = $1.5M. They're selling the house for $3M, that's not 10% profit that's 100%. They're doubling up! Stop lying and be honest bro, some of us ppl are actually intelligent and can figure it all out.
@@UpFlip someone whose done the walk help me cause my business plan also needs a lift. I am struggling with high functioning autism and numbers are not my thing. (dyslexia)
@@giovannigiorgio8962 You seem a bit confused and not seeing the joke. The other man is his childhood friend and business partner. The wife is a blond lady shown on a couple of pictures
Sign up to Constant Contact Using Code UPFLIP30 For 30% OFF and start a FREE TRIAL today! www.constantcontact.com/upflip
Where is jay?
Great interview. Several take aways
1. Real estate is the least difficult way to become rich.
2. Having a good partner greatly increases your chances for success.
3. Marc Russo is a great communicator,
4. You need private investors to succeed in real estate.
5. The Seattle area with Amazon, Microsoft and Google has been tremendous for the real estate sector.
Thanks for this
You can tell Marx is genuine and loves what he does. Definitely an inspiring individual.
He's definitely an inspiring individual! Thank you for taking the time to watch!
Thank you Ravi. Super thoughtful!
This guy smashes things and makes money.. childhood dreams achieved
Such an achievement! Thanks for the support!
He is so true!!!! At the end, it’s not about the money, it’s about who will be by your bedside during those final days, money can’t do anything for that transition!!!!
Echoing you here @Darrren Mays! Thank you for tuning in, we sincerely appreciate your support!
WOW! WOW! WOW! What a company, concept, leadership, plan, .... and genuine people behind it! The caliber of this business is a marker for excellence. Anyone who can use this guidance to build their own home building business dream will be light years ahead of the wanna-bees! EXCELLENT interiew and EXCELLENT business to emulate
!
Thank you Page. We are working to be better everyday.
I own a restaurant and am currently looking for a way to grow and own my own building but it often feels that I don't know where to turn to grow when the banks say no...over ans over.
I like the video because here is a guy who defeated failure and still knows how to keep himself humble. Nice. I would love to grow like this.
"Delegate and empowering" this man has really reached alot of wisdom about life and running business. Inspiring to watch!
Thanks for your support!
Thank you Improlife. It comes from learn through failure. Nothing more humbling then having no paycheck for five years.
@@marcrousso3214 ah, thanks for sharing. 🙏
"Men to our word" amazing goose bumps! nothing sexier than men with integrity
We hope you enjoyed the video - thank you for watching! ☺️
Thank you Audrey!
I hate working for people and believe in being your own boss but this is a guy I wouldnt mind calling boss. So genuine and learned so much from him that im going to apply into my business TODAY!
Thanks Shawn. Appreciate the kind words.
Seems like a lot of risk for only a 10% profit before tax . Idk about this one. Money isn’t easy to make that’s for sure . I did 400k profit on a duplex conversion bought off market. You don’t always have to tear down and build new . Get creative . Buying off market is the key for sure
More like 25-35% profit…for home builders, 10% not even in ball park
Some prefer tearing down and building, while others prefer buying new and flipping. Really depends on the person!
@@robertyarbrough4925 I know home builders personally and the profit is 10% or less. It depends what the developers are selling the lot for etc. you have to be big and have relationship with developers to get the deals on the lots. Or you can door knock and do what these people do. End of the day getting the off market deal or “wedge deal” is how you have to start otherwise you’re playing with fire on the profit side. You need that sweetheart deal to make the money that’s what I’m saying . It’s a must have / part of the business model.
How do you buy off market
@@nickyweav5820 just like buddy says in this video. Door knocking. You can do flyer campaigns. You can do cold calling. You should learn how to write an offer up yourself and just have a lawyer to close the deal for you. Have a print out of purchase agreements in your car ready to go. Also let all your friends family know that you’re buying property and get the word out. People that are embarrassed to sell online (mls. I’m in Canada sorry) and people that want a quick sale will sell private (off market). They can usually get more money selling online with an agent cause there’s more buyers and competition but there are people that don’t want to do that cause they don’t want neighbours knowing they are selling or people coming to check out their house and see how they live. Could be a hoarder house or sloppy inside etc. many reasons people would sell to you off market for a lesser price. Just keep in mind no agents getting paid so instantly you should get a 5% discount cause that covers commission fees. Then negotiate down from there . Pick at the house . It needs this it needs that etc. always buy fixer uppers never buy a turn key property. You want to add value. Buying off market gets you ahead of the game cause you’ll already be up x amount of equity just from the purchase . There are people (wholesalers) that get a contract signed to buy the house, and then before the deal closes they sell that paper to another buyer for a profit. I’ve seen 100k being made just by doing this. That can work in a hot market.
Respect to Jay Mezistrano for having the mind and energy to push through the last economic crisis and not default on your debts. Didn't file bankruptcy... Instead he put the boots back on and went to work rebuilding. You're an inspiration. Hard money is tough but gotta start someplace.
Thank you SGBBCO. Jay and I worked really hard to make this happen. I agree, hard money to start, but too often people settle and remain on it long term.
Agreed! Both Jay and Marc are strong willed. Kudos!
Great story of having a vision and persevering through all the hard stuff. Congrats Mr. Jay and team! Inspirational!
Thank you P. TreyBen. Appreciate your kind words. Jay and I definitely worked diligently.
Thank you for your kind words! We're glad to hear that Mr. Jay and his team's journey has served as an inspiration to others. Keep pushing toward and never give up on your dreams! ❤
Thanks for sharing this story... what i love about him is the balance of his life and you could see his "reason why" is his family
I totally agree! What other businesses would you like to see next?
This channel is so underrated. Keep up the good work!
You can tell he’s a good dude
He definitely is 🙏
Thank you Carlos for the kind words.
Video content, subject and delivery make this a "must watch" video for anyone looking to improve on their success. There's something to gain for everyone! Bravo for creating this content, simply put, this was a great video! Thankyou
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Thank you!
Thank you Chris! Appreciate the comments.
I like how transparent he is in revealing how he's running his business
Refreshing to see that level of honesty and openness in the business world 🔥
Recession "well maybe we're not in one right now" crazy the times we're in. Interest rates have risen near 100% compared to 2 years ago and real estate in most markets is still crazy competitive.... The future will sure be interesting!
I also must say great video. I always enjoy watching y'all's content
Yes, we were in a real estate recession April to December. But since the first of the year, even with increased interest rates, buyers are out buying homes, albeit at lower prices compared to a year ago. Future is complicated with supply, demand and interest rate uncertainty. Just keep hitting singles until the light at the tunnel is brighter.
Thank you for taking the time to watch! ☺️
He not lying im doing my 1st house and its super hard to get money for the project.
There are great secondary lenders that I would recommend. Seattle Funding Group was amazing to work with and did dozens of projects with us over the years. Happy to connect you.
House prices in US are crazy. I work in IT, but I wouldn't be able to afford anything nice in the US. That's why I prefer to work remotely from abroad.
This is the greatest channel.....ever.
A million from friends & family, what a blessing.
Been in home remodeling and new construction for over 10 years and can firmly say none of these houses look like several million dollars more like a couple hundred k
Thanks for sharing your piece of the industry! Can you tell us where you live?
@@UpFlip Grosse Pointe Michigan
@@meridancrypto8226That's why you can say that. Different market, different home value. Like they said, they're near major tech campuses. That alone shoots the home value up 200-400%
Area is a huge part of the value a shitty house in NY can go for half million
@@blackfroyable true true
The new host is great!
Thanks for the feedback @Simply Tasty! Glad you found the new host interesting.
Both are good, the other guy also asks excellent questions
I’m in Nigeria and I’m interested in real estate business partnership
Loved this episode! ❤
Thank you Haziq!
So is JayMark a developer, builder or both? Thank you
Both! They have a developer side and also a builder side of the business.
just a quick question why most home builders in US use wood to build the luxury homes i noticed most new homes were wood-framed,
That's because of the topography and the resources available. ☺️
You have to got to risk it to get the biscuit and I’m about in the same boat. Thinking about going out on my own. Maybe I should build houses!
Why not? It's never too late 👊
Yes, it's all a risk. But take calculated risk. Do lots of homework looking at the pros and cons, then come up with a conservative business plan. You can do it!
Wow this is awsome. Good job happy for him
We hope you enjoyed the video - thank you for watching!
Thank you Irma!
Great content!💪🏾💪🏾💪🏾
I just have one question: how are they only making 10% ROI?
As a contractor myself, 10% seems very low. Better mange every penny
Thank you for sharing all this very valuable infos with us!
I'm also doing Business and Coffee vlogs in UK❤
You're welcome @MD cars and stories! That sounds interesting.
When you hear someone say that he and his partner didn’t have money so they had to sell their Porsche & Range Rover AND they had previously borrowed millions of dollars from the bank, it’s important to remind yourself that 1) this is someone who has created an alternate reality for himself and 2) he and his partner did not manage their money (and business) well.
Not that they handled their money poorly but because they had other ventures beforehand. He actually explained it! ☺️
You guys do such great videos!
Glad you love this video! Your appreciation means a lot to us and motivates us to continue producing content like this. Do you have a business topic you want to see next on the channel? 🤔
A gym !!!
@@greysonmuotka6103 great idea! Can you guys get Alex Hermozi?
hi please I am in dear need of your assistance am a student in Africa, honestly things aren't Rosy for me due to bad leadership policies over here that why am reaching out to you and anybody that wish to help me in any way they can , I have skill but do not have capital to start up something for myself self, am not a scammer am real I can give you my number if you wish verify , I really need your assistance I believe there are good people in the world that can still help me , thanks you God bless you as I await your reply.
Massive respect that this guys still paid back the 2 million he owed. Truly heard of in todays world. Really cool story!
Last look, Mid May 2023, prime was about 7% Not a downturn? Paint me a skeptic.
Thanks for sharing your thoughts! Are you in the real estate industry as well?
Yes Jack. Market has had it's up and down's the past year.
Wow, really cool concept and awesome builders. I love what they do.
In the beginning of the video Marc told he paid 920k for the house that going to be torn and he could see it for 3million dollars. Also he said the profit margin is 10% which is just 300k. The maths didn't add up. Am I making any mistake here?
Please refer to our brother Benjamin Vershel's explanation! 👊
Building a house costs money
What a load of crap- he makes more than 10%
You can loan out 2.7m and get 10% return
They both combined had 30 houses, and had to lose everything in the crash. They probably overleveraged to the extreme where all their houses had close to no equity, reling on rent to pay the mortgage, and in 30 years they own all 30 homes outright. Greed comes into play and its very dangerous to do that. If tenant doesnt pay, destroy the house, major expensive house fix, rent decline in the area happens, they are toast. Its great to boast about having 30 houses, it gives you status, women, cockiness. Its all a house of cards ready to collapse though. The big lottery win is if they bought all 30 houses from 09-11, and the whole seattle area went up in in value by 400k per house, they would be so rich by now. That would be 12 million (400k x30) in house value.
I my god it is real estate proped up on high IT managers salaries. That will end up badly
Damn I’d love to do this
Go for it @Shyster!
Exceptional video and firm!👏🏾👏🏾🙏🏾🙏🏾
Did you enjoy the video? Thanks for watching! ☺️
Thank you!
@@marcrousso6824 Very inspirational story you all have. Keep up the great work!🙏🏾👏🏾
I loved the questions, very accurate
Thank you, any other questions we should ask all entrepreneurs we interview?
I love hearing his story I learned a lot.
Glad that you learned a lot! Thanks for watching.
Thank you! Here's to your success!
Quite inspiring!
Glad you love this video! Do you have a business topic you want to see next on the channel? 🤔
Thank you Fred.
Keep on building.
The very first point to this video … be careful how much you leverage . Everyone’s doing good until the ball drops . Just like what’s happening exactly right now with interest rates shooting up. Everyone was winning with the low rates and refinancing buying more property doing the 80/20 LTV. Be careful how fast you want to move people because a bankruptcy will set you back many many years. I have friends right now today squeezed . I had people laugh at me cause I didn’t do the traditional 80/20 (meaning leave 20% in the house pull as much of it out). Be aggressive but also always be paranoid. Worst case scenarios happen. Don’t get too risky or when the tide goes out you’ll be able to see who’s swimming naked 🥲
This is great advice as always, C B!
Facts. And it doesn't seem like they learned either because they're only pulling in a 10% profit from all this work
I just wonder where they get desgin plan at
Oh my god. Wooden house for 3.8 million USD. I nearly pissed myself laughing
This is so not environmentally friendly ✊🏾
Save the planet & Homes !!!!
Coexist ✊🏾🙏💙🌎☮️🇺🇦
They do follow rules for the environment. Thanks for watching! ☺️
Great Video
Thank you for watching and engaging with the content! ☺️
Brilliant episode!! 👏⭐️
Glad you thought so! What would you like to see more of?
@@UpFlip Really like the real estate and food entrepreneurs! Maybe some entrepreneurs in the healthcare sector also!! ⭐️
Why does Seattle always look like it just got done raining or it's about to rain
very kool continuing your success
Thank you!
THE MANIFESTATION IS IMPORTANT
EVERYDAY IN EVERYWAY I AM GETTING BETTER AND BETTER
Indeed! That attracts more positivity into your life. Thanks for watching!
True Story. Manifestation and goal setting for the future is important to success of anything.
wow that was effin amazing!
We hope you enjoyed the video - thank you for watching! ☺
Thanks MemeKing! Appreciate it.
amazing story
Thank you! 🙂
Thank you Ryan. Appreciate it.
What happened to the last host?😢
He'll be back soon! :)
They're getting $1,000/ft for dreary suburban PNW, I don't get it. Good for them.
Seattle is an expensive city to live in 😅
location
The sound when he missed that pool shot got me so good 😂😂😂
🦆
10% profit margin is not alot
The number one piece of advise in any business plan is to keep the government and bureaucrats out of your business!
The government is like sand to a wheel bearing, it a catastrophic recipe for disaster!
Thanks for sharing your thoughts. The success of a business also depends on various factors, including a well-planned strategy, great customer service, and a strong team.
What is hard money
Hard money is money that is not conventional bank financing which has lower rate and fees. The reason why I suggest to get off hard money is because in this business, the extra few percentage points add up and make a difference to the bottom line.
@@marcrousso3214 thanks, in the uk. We borrow at 1% in and 6-7% interest with commercial banks.
Hard money - we call merchant banks and bridging companies- these are generally 1% in 1 % out plus 9-15 %
Thanks for watching! Hope you learned from Marc himself! ☺️
Man I like your videos but your editing style is so incoherent. You jump from topic to topic and never really flesh anything out. I think you'd really benefit from a more cohesive outline, flowing from one point to another in a way that makes sense.
We really appreciate the feedback @therootb! We'll be sure to keep that in mind.
The risk reward ratio is lacking in this business - shooting for 10% profit in high end flipper real estate is just not a solid plan. Hopefully that was just bs. I built my own home and saved at least 25% in cost per square foot on the build over other contractors, so, I know it is possible to run crazy good numbers.. but it gets pricey when you've got to buy the junk house on the initial property purchase. You could easily lose your ass, especially if the bank has problems or hits you with a deficiency if the market drops suddenly, as in 2008. I would never advise anyone to make deals like this, unless you've got deep pockets that can carry the project to completion in case of disaster, so that you can get the home finished with a Certificate of Occupancy and then you've got mortgage-ability, and then you can rent or sell to a much wider range of customers.
They do have a solid plan. They've been doing this for a long time. But we thank you for sharing your input! 👊
Richard, Any real estate business with velocity has margins as I mentioned in the video. For example DR Horton ranged from 7.59 to 17.5% the past five years. Wish you continued success with your ventures.
"maybe we're not in one (recession) right now"
Lmao 😂
Dudes making 10 percent and he loves hard money lol
We were definitely in a residential real estate recession from April to December of 2022. Now we navigating high interest rates combined with low inventory and strong migration into our region. It varies by the area you live in, but definitely challenging.
@@davidjonburke2729 Hard money is necessary for most of us to get started, but as you grow, the extra percentage points make a big difference on profitability. Current rates for builders from banks are around 9% vs. hard money 5 points higher.
So he wasnt actually making money, he was borrowing millions of dollars (literally) and then slowly made money on those millions. This isnt even hustling this is just borrowing money to the point that you dont own anything.
It's leveraging other people's money to make your own money!
@@UpFlipHow was he able to borrow millions?!
A tool belt aka to a framer/carpenter it’s actually called a apron but never woulda guessed a boss who’s never driven a nail would call it 😂
Awesome ❤
Thanks 🤗
10 % profit of 3 million dollar homes!! More like 30 percent. Dr Horton and holt homes makes on average house 30-40 percent lol
0:00 “No money to start” 2 seconds later “the hardest part was raising money”
I want to be like this before 40
It sounds like you have some goals in mind! Good luck @Not listening Who cares!
Commercial truck repair Shop please brother
Right on our list! 👊
@@UpFlipPlease get more trucking companies too 🙏. Doesn't matte if it's vans, box trucks, or big rigs. Anything to do with trucking.
Thanks. Love the channel, keep up the good work.
12 months to build a house? Lie, i built in 3 months in CA.
bold guy appears as very good person
Thank you Eddie.
"You have to have a in place...
Yeah it's called targeting wealthy clients.
what happened to the old host
He'll be back sooner than you think! ☺️
How can you make 100k by selling two used SUVs? 10:16. I like to know
It's a Land Rover, known for its high value and quality.
unrelated but does the color scheme you use on your thumbnails actually influence the yt algorithm? I notice the top youtubers all use this sort of gold color scheme / facial expression in their thumbnails lately.
just make the photos pop and more noticeable in a sea of other thumbnails out there ☺️
Make a video about snailfarming, pleasee
Do you know any companies who does snail farming who'd be interested?
Only 10% profit is that for real?? Oh man
Yes, public companies for example DR Horton ranged from 7.59 to 17.5% the past five years.
Houses made out of Wood and more Cheap Wood…………… 🧐
Never pay or buy any structure that expensive unless it made out of CONCRETE.
So many problems with wood, Fire, Insects, Mold, moisture , structure unstable and most importantly Concrete will last twice if not longer………….
Wood Home must be extremely cheap to even be considered
Materials depend on the location! ☺️
All houses in the Pacific Northwest are built out of wood J Frank.
Took them 7 years to pay back the banks. That sounds like a major headache.
We owed one bank 2.5M and were committed to paying it off as fast as possible. They gave us incentives to pay off faster and took advantage of it. But, yes.. was a major headache to say the least. :)
Why on earth would you demolish a perfectly fine old house? So environmentally unfriendly. Should have remodeled it.
That's what they do. They build new houses! ☺️
@@UpFlip they can build new houses. They should not demolish perfectly fine old houses
The houses that we buy are dilapidated built 50-60 years ago in great locations. Would ultimately cost more to remodel with existing foundation. We do send all material to get recycled. It was discussed on the show, but left out of the episode.
I just want someone to look at me the way he looks at his business partner at 21:44
😂
Thanks for watching tho!
I thought jay was his wife
Well, we have been business partners for 33 years. We more like brothers.
hello i really love your content but i was wondering if you havent thought about transforming your long form content into short form to grow your audience if you are interested i would be pleased to do it for you
Thank you for the offer but we love serving long-content form videos to you guys. ☺️
Wooden house for 5 million bucks. Haha. What a rip off
not true
What is? 😅
Must be nice. I can't get $20 from friends and family. I need a new circle
You got this! Going on facebook groups, even quora can also lead you to investors ☺️
owned by the bank
I can’t wait to leave the Pacific North West. This same house with more land sells for roughly 800k where I’m from and there’s no homeless problems and crime.
These prices up here are uncalled for.
This channel went from realistic small business to an ad generator for established millionaires. like wtf.
This video had no cringe person trying to sell us a course, like that other fellow in Seattle.
This is his main source of income.
He came from 0 and made it to hero.
So, I disagree.
I understand what you are saying. I started from zero twice, and if I can find success, you can as well. It wasn't without relentless hard work and dedication. Wish you success.
@@alexandrep4913 Thank you Alexandre. Wish you amazing success!
Uh. The ninja photo of the Asian accountant seems a little... tacky
She is a ninja because that was the pseudonym her coworkers gave her! ☺️
@@UpFlip I thought it was hilarious. But unfortunately you may get more push back from the leftist snowflakes…
🤔Man of his words but refused to answer how much profit to make off of this tear down. He purchased at $970k their gonna build a single house 4,300 sqf (x) market build rate of $100 per sqf = $430k + $970k = $1.5M. They're selling the house for $3M, that's not 10% profit that's 100%. They're doubling up! Stop lying and be honest bro, some of us ppl are actually intelligent and can figure it all out.
Why the other guy look like mark Z the Facebook god😂
I am in the same point. I lost everything and the reason I comment. Just like Mark. I have to restart all over.
Good luck on your journey @Danny Lo!
@@UpFlip someone whose done the walk help me cause my business plan also needs a lift. I am struggling with high functioning autism and numbers are not my thing. (dyslexia)
@@dannylo5875 what's in it for anyone to help you?
@@toxicdubz3841 and!? Is a business plan really difficult if you are struggling with vision!?
@@toxicdubz3841 AI systems. And of course business using Ai.
10%😅, more like 65%
Ha... wish I knew your builder friends.
How do you do it? ☺️
Why does he call that other man his wife and why was he grabbing him like that? Something strange is going on there. That looks creepy 🤢
Sorry, what do you mean?
😂😂 I don't think they showed his wife at all, for privacy. That photo was just playful
@@PermanentHigh 16:01 the guy's "wife's" name Jay look at that picture. That's two men 🤮
@@giovannigiorgio8962 You seem a bit confused and not seeing the joke. The other man is his childhood friend and business partner. The wife is a blond lady shown on a couple of pictures