Podcasts Business Flipping America A Place To Begin

A Place To Begin

Published: May 18, 2018, 3:48 p.m.

b'FAR 143 Expected Air Date: 04/16/18

Opening

Good morning everyone and welcome to another week of real estate investing news, trends, markets, movers and shakers. Today we are going to focus on one of the top questions we get here at Flipping America. In a few moments I\\u2019m going to break down the things you need to consider to figure out your best \\u201cfit\\u201d in real estate investing.

How to Reach us

www.flippingamericanetwork.com Facebook.com/flippingamericamedia Twitter and Instagram @FlippingAmerica YouTube: bit.ly/FlippingAmericaOnYouTube Linkedin: bit.ly/FlippingAmericaOnLinkedIn Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.

Announcements:

  • My upcoming speaking engagements:
    • April 21, FlipStarter Atlanta
  • Details on the website and at FlipStarterEvent.com

News!

Topic - A Place To Begin

We say nearly every show, \\u201cWe don\\u2019t encourage everyone to drop what you are doing and start flipping houses like they do on TV, but we do encourage everyone to consider real estate as a part of a balanced investment portfolio.\\u201d But the TV shows continue to create waves of people interested in figuring out a way to quit their job and do this full-time. So people need a path into this. Since that\\u2019s what you need - I\\u2019ll be happy to provide. The first thing I need you to understand is this business is not all fun, games, and big checks. Some days there are nothing but problems. To be truly good at this is to be good at solving problems. You also need to commit yourself to the tedious tasks. Deals don\\u2019t just fall into your lap. You have to get out there and continually prospect for them. While you\\u2019re out there, deals will occasionally fall your way, but as Ben Franklin said, \\u201cOpportunity tends to dance with those who are already on the dance floor.\\u201d So let\\u2019s begin by taking inventory. This inventory consists of the following general categories:
  1. Thoughts about the future, Vision, Goals, Plans
  2. Current employment situation, Happy? Future? Career?
  3. Family situation and obligations, Married? SO? Kids? In the future?
  4. Available time. Number of hours you can consistently give this each week.
  5. Cash on hand. Dollars you could put into a deal that you could afford to lose.
  6. Skills. Construction, negotiation, analytical, research, legal, real estate
  7. Personality type, introvert, extrovert
  8. Connections, people with needed skills (see 6)
  9. Information. How much do you know?
  10. Learning style: How do you learn? Reading? Audio? Hands-on? Seven different styles. Know yours. Be intentional about getting training in a style that works for you.
  11. Training source
  12. Mentor
  13. Path

Motivational Thoughts for the day

  • Life is 10% what happens to you and 90% how you respond to it. -Chuck Swindoll.

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Emails:

Questions@flippingamericaradio.com Tell us where you\\u2019re from!
  • James, Lexington, KY \\u201cQuick question: Stage? Or not?\\u201d
  • Robert, Morgantown, WV \\u201cI\\u2019ve flipped a few houses here and it went ok. I heard you talk about remote flipping. Should I be looking into that?\\u201d
  • Eduardo, Las Vegas, NV \\u201cI\\u2019ve just been told that my contract, which ends June 30th will not be renewed. I\\u2019m an independent IT contractor. I\\u2019ve been interested in real estate for some time now. If I jumped in now, could I conceivably be making money by the end of the summer? I\\u2019m single and have enough put aside to maintain my lifestyle for a few months but will need income by the end of the summer to maintain a comfort level.\\u201d
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