Podcasts Business Flipping America Flipping America 509, Buy a Hotel

Flipping America 509, Buy a Hotel

Published: Nov. 13, 2021, 5 p.m.

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It\\u2019s no secret that we make our living in single family houses. But I\\u2019ve often wondered if I couldn\\u2019t translate the skills I have acquired in this business to something bigger - and maybe easier. Spoiler alert - the answer is YES. And today we\\u2019re going to talk about something bigger - MUCH bigger. On this episode of Flipping America. I had Nate Barger on the show not too long ago to talk about the BRRRR method and we didn\\u2019t get all the way finished with that subject before we started talking about hotels. I knew right then I had to get him back to talk about hotels. So that\\u2019s what we have coming up for you in just a little while today. But first let me comment on some breaking news.

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (877-557-6437) \\xa0 ext 1. Leave your message or your question.\\xa0

Sponsors

Flipping America Funding : Get the money you need for your business, for your training, for infrastructure, and for your projects. Flipping America Funding is your one-stop shop for all of your business funding needs. FlippingAmericaFunding.com.\\xa0

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Announcements:

  • FlipStarter November 2021 is sold out. But we\\u2019ve already scheduled it again for January.\\xa0
    • Learn how to Find, Fund, Fix and Flip houses
    • Four weeks of video instruction (2 hour sessions)
    • Four weeks of group coaching
    • You\\u2019ll get my book, \\u201cFantastic Deals and Where to Find Them\\u201d, the exact procedure I used to get 10,000 deals per week in my inbox.
    • You\\u2019ll get my book, \\u201cHow to Put Skin in the Game When You Are Running Out of Skin\\u201d, my little book on how to do deals - even big rehabs - with none of your own money.
    • You\\u2019ll get my book, \\u201cStop Being Poor\\u201d which describes the poverty mindset and suggests a way out.\\xa0
    • Includes online courses, ($800 value)
      • REI QuickStart - 15 lessons to have you making offers in 2 weeks.
      • REI By the Numbers - All of the formulas I use for deal analysis, project tracking, and ROI calculations.\\xa0
      • Find Your Fit in REI
      • Create the Life of Your Dreams
    • Purchase and Sale Agreements for your offers
    • Contractor Docs, my package of eleven documents that describe policy and procedures for working with contractors, including the actual Construction Agreement I use. I paid a lawyer thousands to create this bullet-proof agreement and I\\u2019ll include it.
    • How to manage the rehab process
    • How to make $5000 in the next 30 days
    • \\u201cDouble Your Investment\\u201d guarantee. Although it\\u2019s a 30 day program, you stay on the coaching calls until you have at least doubled your investment in this training.
    • Money back guarantee. If at any time you believe this isn\\u2019t the thing for you, notify us and you can drop out and get a refund for remaining sessions
    • Your investment: $997.67. Or pay three installments of $350.\\xa0
    • Early Bird Discount: Register before December 1st and save $200.
    • 100,000 people want this - we only have 100 seats.\\xa0

News and Resources:\\xa0

Mindset Moment:\\xa0

Questions from Listeners:\\xa0

  • Al, Las Vegas, \\u201cAm I better off buying materials for my rehab at [one of the big box stores] or should I go to the local lumberyard and building supply?
  • Karissa, Milwaukee, WI, \\u201cI bought two rental properties a couple of years ago following the 1% rule. In order to get that price I had to buy them in an area that makes me a little nervous, but I thought at the time, \\u2018people live here, why wouldn\\u2019t someone want to rent here ya know?\\u2019 But I\\u2019m not making money. I\\u2019m losing money. It\\u2019s taking all of my extra income just to maintain the houses and fix them back up after the tenants move out. What am I doing wrong?\\u201d
  • Evan, Indianapolis, IN, \\u201cI couldn\\u2019t make it to FlipStarter. Did I hear you say it\\u2019s in video format? I couldn\\u2019t find it on your website.\\u201d
  • Winifred, Villages of Ocala, FL \\u201cMy husband only wants to use the cheapest paint, the cheapest carpet, the cheapest fixtures and cheapest everything in our investment houses. He says the tenants don\\u2019t care and wouldn\\u2019t appreciate better things. He also won\\u2019t do anything about controlling bugs or termites. He says that\\u2019s the tenant\\u2019s responsibility and it says so in the lease. I know we don\\u2019t want to put the finest products in our houses, but it seems like we ought to be better than the cheapest. I\\u2019d like to know how you handle this.\\u201d
  • Lilly, Villages of Ocala, FL, \\u201cMy husband and I are so tired of our rentals, but we are not tired of the cash flow. We are both in our late 60\\u2019s. We\\u2019d like to sell them to end the headache but aren\\u2019t sure where we would put the money. Any suggestions?
    • Perhaps not sell - perhaps owner finance?
    • Not an investment advisor, but as a suggestion, you could always look into private lending.\\xa0
  • Cesar, Long Beach, CA, \\u201cI want to buy some rental properties in Atlanta. Can you connect me with resources there for buying and for property management?\\u201d

Quote of the Day

\\xa0\\u201cIf it matters to you\\u2026 you\\u2019ll find a way.\\u201d - Gold Step

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