Flipping America 512, Flipping Houses with John Medina

Published: Nov. 22, 2021, 5 p.m.

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Sometimes we just have to get back to the basics. Flipping Houses. It\\u2019s how I got started. It might be a good place for you to start as well.

How to contact us

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

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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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\\xa0Announcements:

  • 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

  • Ken, Murfreesboro, TN, \\u201cMy tenant shorted the rent this month, claiming they had to fix a water leak under the sink. Said he did it himself, but that saved me about $200, so he took $200 out of the rent. I think he can\\u2019t do this, but what do I do?\\u201d
  • Alexandra, Fresno, CA \\u201cIt\\u2019s often a challenge to remove a tenant here in California. Where are some places that are more landlord friendly?\\u201d
  • Eric, Portland, OR \\u201cHey I just caught your show on iHeart radio and watched some of your videos on YouTube. Thanks for all the information. I\\u2019m about to buy my first place and I\\u2019m thinking I might buy a duplex, live in one side and rent out the other. Do you think this will work?\\u201d
  • Robert, Tampa, FL \\u201cIn your opinion what is the most reliable way to establish the fair market rent of a property? I\\u2019m not a realtor, don\\u2019t have access to the MLS, and hate to bug my realtor friends about it all the time.\\u201d
  • Ellen, Milwaukee, WI. \\u201cMy husband and I just sold our home to downsize and we are trying to figure out what to do with the money -- over $200,000. He\\u2019s semi-retired, bored, and handy. We\\u2019ve thought about flipping some houses. What advice would you give us?\\u201d
  • Kandra, Las Vegas, NV \\u201cI recently attended a seminar here put on by [a TV personality]. I felt like it was just a sales pitch for a $20,000 course. But I was here for a course and really didn\\u2019t learn anything. I\\u2019m concerned that if I paid the $20,000 I might not learn anything there either. And I don\\u2019t have $20,000 anyway. So I didn\\u2019t do it. But I\\u2019m back to square one. I really want to learn this business! I don\\u2019t have any money and my credit has a few dings. Is there any hope for me?\\u201d
  • D\\u2019Wayne, Louisville, KY \\u201cHow do you decide whether you are going to fix and property and flip it, fix it and keep it, or just wholesale it? I figure there must be a way to figure out the best thing to do with a property. I have a deal under contract for 72,000. It needs updating and paint and carpet. I think I\\u2019ll get $150,000 for it if I flip it. Or I could rent it out for $900 per month. But another investor just offered me $10,000 for my contract. What would you do?
  • Roberto, Long Beach, CA \\u201cWhat do you think the long term consequences for real estate will be in those areas hit by hurricanes. And do you think we will have a similar impact here in California because of all the wildfires?\\u201d
  • James, Lancaster, PA \\u201cI\\u2019ve been researching various REITs and crowdfunding platforms. REITs seem like less involvement from me, which I prefer, but the returns I\\u2019m seeing are at best around 6%. With crowdfunding I can get closer to 10% on my money but I have to be a bit more involved. While I\\u2019m thinking about it, do you have other options you would recommend?\\u201d

Quote of the Day

\\u201cEvery person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.\\u201d - Theodore Roosevelt, U.S. president

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