Published: April 8, 2019, 2:24 p.m.
FAR 235
Expected Air Date: 3/21/19
Opening Today I\u2019m going to introduce you to a gentleman who started in this business only three years ago and now is flipping 50 houses a year. He has an incredible story and you will want to be sure to hear it. His name is Scott Sekulow and he\u2019s now known as the \u201cFlipping Rabbi\u201d which is a story I\u2019m going to let him tell you. I\u2019m also going to get his input on the current state of the market.
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- Hey would you buy me lunch just so you could pick my brain? 32 cents per day. For less than the price of that lunch, just $9.67 per month, you can have a whole month\u2019s worth of my brain pickings by joining the Premium membership. Just go to flippingamericanetwork.com and click on the FAN. On this show I keep a pretty narrow focus on real estate and small business development. But if you subscribe to my FAN premium blog you\u2019ll find out what I think about a wide variety of topics. I will do my best to give you a $10 or $100 idea with every post and I WILL be talking about real estate, but I\u2019m going to weigh in on some other topics as well. Which topics? Whatever interests me. And I have a wide range of interests.
- March 16-17, FlipStarter, www.flipstarterevent.com.
- Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $10. That\u2019s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 6% preferred rate of return and can go as high as 20%. You can make money with me, the Flipping America Guy.
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- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm. \xa0
Guest: Scott Sekulow Your Questions: - Shameka, Atlanta, GA \u201cI\u2019m a new wholesaler and I would appreciate if you would give me some guidance as to what experienced investors are looking for.\u201d
- Brandon, Atlanta, GA \u201cHow do you figure out what it\u2019s going to cost to repair the property?\u201d
- Roberta, Tampa, FL \u201cWhat is debt service coverage ratio and why is it important? I just got financing rejected by the lender because of this and it\u2019s a property my mentor said would generate good cash flow. I asked the lender and their explanation was technical and I didn\u2019t understand. I asked my mentor and he said it\u2019s not important and I should just go to another lender. I googled it and that really didn\u2019t help either. I\u2019m buying a house for $120,000 and putting $20,000 down. The payment will be $525.20 per month and the rent is $750. It seems like I\u2019m making $200 per month. How can that be wrong?\u201d
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Motivational Thoughts for the day - "Don\u2019t take the road less traveled. Don\u2019t take the road more traveled. Find people you want to be like and take the road they took." --Roger Blankenship