Don't Start House Flipping Backwards

[coach]

I have been the house flipping and wholesaling business for 25 years. I have been to 1000 investment club meetings, and I flipped or wholesaled over 1000 houses. When I talk to new investors that paid gurus 25 to 50 thousand dollars for there course I ask them were are you going to start. They say I don't know or I an going to find a house to sell.

The way you want to start is find investors that will buy your house before you buy one. Go to your local investment club and collect cards of active investors. Put a add in the paper that you are looking for investors that want to buy houses for wholesale.

After you get about 100 investors in your contact list on your computer, now it's time to look for your first house.

[badmomma]

That is quite interesting. Its an approach that I hadn't considered. How did you get into doing houseflipping this way?

I know that most of the people that I know will be using their own capital to buy homes to flip. Is it safer to use outside investors? Please help me to understand how this is done and the benifits of flipping this way instead of alone.

[coach]

When I do my marketing I target one or two neighborhoods that I know will be good for flipping or wholesaling. I send 500 flyers to each area and follow up by going into were I sent the flyers and talking to the people.

When I get one house under contract I target 500 around that house with a flyer that says: I have a house that I am remodeling and going to sell when I get done. If you have a nice family you think would be good for the neighborhood please let me know. Also if you want to sell your house or know anyone else that dose pleas contact me.

By staying on top of your marketing new flip and wholesale houses will be acquired.

Now comes the backward marketing approach. If you want to keep one and flip it you can do that and wholesale the rest to the 100 investors on your contact list.

[houseflip101]

You stated that u have been in the business for 25 years this is a long time and u must be very good at this can u start form the beginning and tell us step by step how u came this far i know our readers would love to have the advice of some one so successfull and this to can help some one start and or help in the house flip market as well look forward to ur replys and thanks so much for posting here

[coach]

I started my real estate career in West Palm Beach Florida in 1976. That is the year I got my real estate license. I worked as a property manager for a real estate office in Palm Beach. I had a background in maintenance so they made me the property manager of 400 rentals. This was a great learning experience I was getting
About four year later I had a friend who had a house that he hated. It was a rundown 3/2 with a pool in a marginal area. He said if I could find him a townhouse he would let me assume his VA mortgage of $24000 dollars. The assumption charge was $35 dollars. A month later I found him a townhouse in the development I was living and he bought it.
Back then I never heard of house flipping. We called it buy a house fix it up and sell it to someone else. I assumed his first mortgage with no qualifying. It was an exciting day for me, I got a house now what do.
After the closing I went to the house and walked through it was a disaster. I went out to the pool and it was green with a scum on the top. It was 95 degrees out by the pool I thought about jumping in and drowning myself.
This older very wealthy man that hung around the real estate office told me one day: (If a journey is 1000 steps and you fall and hurt yourself on the first one the next 999 are going to be very uncomfortable). Well it looked to me that day that I had 999 uncomfortable steps to go.
It all worked out I fixed up and sold it. Ever since then I have always had something going on with the flipping and wholesaling
For the last year and a half I have been working for a well know house flipping guru that lives in San Antonio. I wasn’t on the seminar side of the business. I was on the house side. I don’t work with him anymore I got too busy doing my own business.