How To Get Into Real Estate Flipping

How To Get Into Real Estate Flipping


Friends, flipping has made me a lot of
money but it pales in comparison to what it has done for my good friend, Jerry
Norton. So, I’ve got him as a guest today. We’re talking about how you enter the
market and get into real estate flipping. So today, we’re going to cover real
estate flipping 101. -Alright. Welcome guys and I’m here with
Kris. And we’re going to talk about real estate flipping 101 – How to get started
in real estate flipping? If you’re excited about learning how to make money
like right now, not a long term strategy but a short term strategy, then that’s
we’re going to be talking about today. -And real quick pros and cons. I mean
obviously, the pro is if I can flip a deal, I can make a pile of money. And
frankly, a lot of people get driven into the game or real estate for the money.
And there’s can be a con to that. And the con is is that, sometimes the people that
are looking for the quick buck are not always as thorough as they need to be to
actually make sure they’re doing the deal the right way. -Yeah. -Gerry how many
deals do you think you’ve done in your lifetime? -Hundreds and probably thousands.
I’ve been doing this full-time for 15 years, all across the US. So you know, a
lot of deals. And you know what you make a really good point? This strategy is
about making short-term money right now. But every time you do a deal, if you want
to make more money, you got to do another deal. It’s exciting to kind of pad the
bank account. But you can then also do some long-term strategies or reinvest
that capital into long term strategies. -You know there’s a lot of people that
are here, they’re like, “Hey, I need quick cash. I’m going to do a flip. And then a lot
of people come up with a like, “Well, every X number of deals I do, I’m going to park my
money into a hold.” You know, for me, I’m buying a couple hundred homes every
single year that “Hey, I don’t need the money today. I don’t need the money
tomorrow. But in five years, I’m expecting millions and millions and millions of
dollars to come back to me.” So, that’s my patience strategy. So, if you can combine
to make money now and to make money tomorrow together, this can definitely
give you the tools that you need for having a very successful strategy. And
entryway into the game of real estate. And today, I couldn’t think of anyone
better than my good friend Jerry to really cover flipping 101 and the
3 things that you need to actually get in the game. -Yeah, so let’s keep it
simple, right? We got 3 steps here. The very first step is what we call finding
or you know, deals. It’s getting that deal. And we often call that finding. And so,
what that means is it means I got to go out in my market or wherever I’m looking
for deals. And I got to find that good deal.
Now, that’s step number 1. -Now, by the way on that first step, real quick, just
give us a quick tip. What could someone do to actually find a good deal? Well, in
your market and wherever you live, whatever market you’re doing, there are people
right now that are looking to sell their property at a discount. So, it’s got money
in it, margin in it to make money and they just want to get rid of that
property because they have something going on in their lives that’s stressing
them out financially, the property is distressed. And they are very motivated
to sell that property at a discount to you. -And Jerry and I have shot some other
videos. And what I want to do right here is just quickly synthesize some of the best strategies that I’ve been learning from Jerry and that we’ve
both been engaging in. The first one I want to bring up real quick. The
double-dip. -That’s a cool one. -That one is basically where are going out to Realtors that
represent these good deals and say, “Hey, you can also represent me and get the
full 6% commission.” And now, all of the sudden, you become
their favorite client. And they’re all the sudden, boom! They’re bringing deals
to you. What’s another strategy that, Jerry
someone could use for also finding some good deals? -Well, you can build a referral
network. We call those finders or bird dogs. It’s people that can go out in your
market and when they identify, you know, a vacant property or a neglected property
or maybe a seller that’s in financial distress, they can bring that to you and
say, “Hey, here’s this motivated seller I found. And you can pay them for
that great deal.” -Yeah and that’s actually one of my favorite strategies. Just
get the word out there just say, “Hey, I got money,V I’m looking for a deal and
I’ll pay you to find it for me because I value what that is.” -Yeah. So, there’s a
couple of strategies that you have. And then probably a third and very typical
one is just, listen. Just go find real estate agents that specialize in finding
good deals and say, “Hey, go to town and find me a great deal.” So, there’s a number of
ways to find a good deal. Real quick though on flipping though. If you find a
good deal, that doesn’t mean it’s the deal you’re going to do, right? -That’s right.
I mean, how often do you find something that looks good on the outside and then
you find out it’s not? -Yeah, I could have all kinds of things going on with that
deal. -And so, that brings us to the second step which is, what we call
analyze. -That’s right. So, what we have to do once we found that good deal is more
than likely there’s been some neglect going on. Sometimes not much, sometimes it
just needs cleaned up. Maybe carpet and paint. Sometimes needs everything. Needs
new kitchens, new baths, new flooring, new paint, new roofs. All you know, like it
couldn’t eat a lot of things. And anywhere in between. So, what we need to do
is we need to look at that deal and say, you know, “If I were to get that deal and
then I were to turn around and fix it up at some extent. And then put it back on
the market and look for a retail buyer or a homeowner, what do all those numbers
need to look like? Like where… How do i factor everything in so that I
actually make a profit?” -Yeah. And one of our other videos that’s connected to
this, you’ll be able to actually see Jerry outlining his simple formula that
he uses to determine if there’s a good deal what it’s worth what he’ll need to
offer. Because you need to get it a certain price that then factors in the
repairs. -Yeah. -Factors in the carrying costs of the money, the closing costs and
your profit. And that will help you figure out what does the sales price
need to be. Is that realistic? what can i buy it for? Can I get it?
-Yeah. -I mean, the real question is… It’s not,
“Is it a good deal?” The answer is yes if you get it at the right price. -Right. So,
what is that right price? Because anything is a good deal if you get it at
the right price. -If you can’t get it in that price, you just got a walk. -That’s
right. -That I’m going to tell you the deal of the decade is coming along every
single day. If you’re looking in the market, you’ve got a great team finding.
And if you know how to analyze. And at the end of the video, we are going to share
with you a quick little hack that will actually show you how to wrap this whole
system into something far simpler. Actually, find the deals for you,
hand them off to other people. Get paid up to $10,000. -You know,
that’s a great point. A lot of people say, “There are no deals.” What are you talking
about? Yes there are. That’s a scarcity mindset. -Well, in the link in the
description below, Jerry’s actually… He’s got a little bit
of a training that he does online for you and then he gives you full access to
actually his free property finder. And what it’ll do is it’ll actually find the
properties for you. So, that there’s no excuses. As long as he live in the United
States, his system works inside of America and every zip code. And will
basically find all the under market value properties that you can analyze.
And that brings us to the third step which is? -Funding. -This is kind of the fun
one. Because this is when you get paid. -That’s right. So, once we’ve got that deal,
we’ve analyzed it, we’re going to assume that we’ve now made an offer. You know, we
got that deal, we got a contract under that price. Well, if you’re going to do a fix
and flip, your next biggest obstacle is funding. Somehow, there’s you got to be
able to pay for that property, to buy it and fix it up.
-You got to get some money. -Yeah. Bottom line. -And there’s a number of ways
that you can do that. And then there’s actually like a really cool shortcut so
you can avoid it. But I mean the big one is, obviously there’s you can find people
out there that have the money that can take it down cash. In one of our other
videos, we actually talk about how you find cash buyers. And it’s actually kind
of… Let’s just give them a little taste of it. It’s a really cool ninja
strategy. Where the MLS houses, all the past deals and you can sort through and
find the ones that have actually bought cash in your area. And you could track
down all of those buyers and say, “Hey, I got another deal. -Yeah. That’s right.
-So, that’s one way of getting an all-cash buyer. But you’ve got to be able to line
up the money if you’re going to do the whole flip. There is an alternative
though where you can skip, you know… Think about it this way. If you’ve trapped
$50,000 of profit, how would you like to walk away from 100% of
the rest of the work? But maybe get paid a quick 10 grand.
What’s that called? -We call that wholesaling. And that’s exactly it. You
don’t actually bring the money in to buy the deal, you don’t manage it, do the
rehab, find a buyer, none of those steps. You get to skip all of that, take a
little bit of a profit. Leave enough meat on the bone for the next guy. Let them do
all the work. And then you walk away, you take that little bit of money and what’s
cool is since it didn’t take you any time tied up in that deal, turn run go do
another one. -Yeah. So, there are literally some people
out there that are in the flipping game and they’re managing all of the rehab,
all of the work, everything. And then we’ve got other people that say, “I always
skip that part. I take the safest portion of the profits. And I’m out of the deal.”
So, whether the numbers were miscalculated or maybe the market takes
a downturn or maybe it became more expensive, you know, listen… I don’t get
the upside, I don’t get the downside because I took my money. And some people
will literally specialize in wholesaling and some people say, “No, no. I’ve gotten
good enough at the flipping game that I actually know my numbers and I’m good at
it and I know how to win in it.” So, you got 2 options. -You know what’s
so cool though about that wholesaling strategy is when that closing takes
place, you get paid right up front. It doesn’t matter what that property does,
doesn’t matter what that investor ends up doing with it. You don’t even care if
they rent it, flip it, you don’t care you’re out. You make that chunk of money
and you’d have to deal with any of that hassle. That’s a really exciting thing to
do. Friends, what we’re really talking about
today, you know, when I look at how I retired at
26. And now, I’m back in the game doing more real estate than ever before. Last
year’s my most profitable year in real estate I’ve ever had in my life. When I
look at what this is afforded me, because in my life, it’s it’s allowed me to
travel around the world, that’s allowed me to live in beautiful homes and drive
nice cars and put my kids in whatever schooling that I want and customized
their education, you know, I mean some of life’s most precious memories for me
come from the fact that there’s always been an abundance of money. And that’s
because I got in the game of real estate. And that’s really what we’re talking
about today. It is a game, it does have rules. And you need to learn those rules.
And if it for you, the game is, “Kris, I want to get into the game of flipping.”
Then you need a mentor. You need someone that can take you by the hand, show you
the ropes, show you what a good deal is what a bad deal is, help you find them.
And I’m suggesting today that, that mentor for you is Mr. Jerry Norton.
The reason why is because this is his 15 year game. My 15 year game is
holding homes over the long haul. And I’m patient. For those of you that are like, “I
need to make money now.” -ATD? -Yeah, maybe. But it’s… -All though you have ATD’s, so… -I can’t
tell if it’s sometimes ATD and sometimes it’s like compulsive disorder. The reason why I’m suggesting Jerry is because he’s designed a software that will actually help you
find the very best deals, his training will teach you how to analyze and make
sure it’s got the proper numbers on it. And he’ll even pay you $10,000 when you did the work to find the deal to actually not flip it. But if
you want to flip it, there’s additional training and resources that will make
sure that you do that the right way. He really is the master of this niche. And
if you want to learn more about what that looks like, click the link in the
description below. Sign up for his free training online. Go
through and have him share with you. And then give them… Right there he’s going to give
you access. Here’s the way… He’s not going to charge you for that. He will give you the
access. Right now you’re getting 1,500 to 2,000 people every week that are
actually downloading your software for free. They’re doing deals. You never hear
from some of them ever again. But they’re making money. Guys, Jerry’s creating some
real crazy awesome value in the world. I recommend him as a mentor in your team.
-And you know what Kris? You know you might be thinking, “Well, why would you
give me that for free?” Here’s why. I’m hoping that you’ll go find deals and
you’ll bring them to me. I’ll pay you $10,000. But I’m hoping you’ll
use that software to bring me deals. I’ll pay you for them. So, I’ve got a real, you
know, personal motivation for doing this. -Well, and you know, it’s kind of cool. Well,
I like aligning with Jerry because on the one hand, sometimes he’s just helping
people and they’re growing. And he’ll never get anything out of it. And then
there are other people where he might make 50,000 on the flip after giving
them 10,000. That’s a huge financial win to you. And that’s also a financial win
to some of it as a beginner or an expert just preferring that particular strategy.
So… That’s what I love about real estate is that not… It’s not always a win-win
situation. But there’s always room for one. And what you’ve created is a win-win.
And when you can create a win for the investor and for the mentor and for
everybody, dude, that’s a win-win-win all way around. So… Friends, thank you so much
for watching this video. If you are new to the game of real estate and you’re not a
subscriber, correct that right now. Click the link, make sure that you subscribe.
And if you want to see more videos with Jerry teaching other aspects of flipping,
we want you to comment on that below. Otherwise, your next step is to click the
link in the description, get access to that number-crunching tool. Start
accessing the best deals, take your next step towards making your
first $10,000 in real estate.

8 thoughts on “How To Get Into Real Estate Flipping

  1. Hey Kris thanks for sharing videos with Jerry Norton. I have read Jerry's book on Wholesaling. I look forward to seeing Jerry on more videos with you.

  2. I live in Portugal. Can i do real estate were like I was in the USA and how can I start in a location where I don't know the market and the prices what would I do first do start invest

  3. Hey Kris. I want to buy a house and then use the Lease Option to sell it. Should I let the bank know my intentions or just say I want it for myself?

  4. Hey kris I’m a 17yr old I’m doing a projects on is college worth it can u give me any idea and tip on this topic

  5. Im getting excitedly pushed into it… and its because it makes sense and because i understand it…….. soon,… i hope soon

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