Episode 16: How to Succeed at Flipping Houses in 2016

Danny Johnson / 2 comments

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Show Notes

Danny is explaining the new direction for the Flipping Junkie Podcast in this episode.

We are moving to a format where each episode flows from the previous one. The first episodes will cover mindset and then move into building your team, funding, analyzing deals, finding deals, negotiating, working with contractors, determine repair costs etc.

It’s basically a free real estate investing training course in podcast format!

Let us know what topics you want covered and who you’d like to hear Danny interview for each topic by leaving a comment on the Facebook page at http://facebook.com/flippingjunkie

Also Melissa (Danny’s wife) is going to be sharing more of what we are doing in our house flipping business for 2016 on the FlippingJunkie.com blog and on Instagram (http://instagram.com/flippingjunkie).

We’re going to flip over 100 houses this year! Follow along and let us know what you want to learn about.

Recommended Books

Flipping Houses Exposed: 34 Weeks In The Life Of A Successful House Flipper

Links

LeadPropeller.com

REIMobile.com

FaceBook.com/FlippingJunkie

Instagram.com/FlippingJunkie

Please Rate and Review

This is my simple request: If you enjoy the podcast and look forward to hearing a lot more episodes, I would be very grateful, happy, beholden and otherwise indebted to you to rate and review the podcast on iTunes.

It’s your choice and I do not want you to feel at all obligated. But I’d love it if you would subscribe and leave a rating and review.

Ratings and reviews allow the podcast to be seen by more people, which will help me achieve my goal of helping as many others as we can to get started in the house flipping business and change their lives.

Click here to rate and review our podcast! 🙂

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Episode Transcription

Welcome to the Flipping Junkie Podcast. My name is Danny Johnson former software developer turned house flipper, flipping hundreds of houses. Each week we bring you interviews, strategies and stories and motivation to help you get started flipping houses and on your way to becoming your own boss and achieving financial freedom. Thanks for spending time with me today. Now let’s get to it.

Danny Johnson: Everybody welcome to the second episode of 2016. 2016 is going to be an incredible year. I’m super excited to get going with this year and want to help as many of you as possible to grow and achieve your goals in 2016. And if you don’t have goals, you really need to set them, write them down. Look at them every morning and focus on what you want. In a lot of times, people aren’t even clear about exactly what they want and by setting goals, you hash out exactly what you want and can focus on that so that everything that you do every day will get you closer to achieving those goals. With that in mind I wanted to just have a quick episode. This episode is not going to be an interview with anybody else. It’s just me talking with you about the changes that I’ve got planned for 2016 and in all areas of everything that we do with Flipping Junkie, in our flipping business, software and everything. It’s really incredible. We’ve got so many things planned and I’m really super pumped and looking forward to doing all of that and sharing all of it with you.
First, we’ll talk about the house flipping. We’ve got to goal this year to flip 100 houses that will be a mix of rehab, fix and flips, and some wholesales. And so in order to do that, I’m going to have to grow my flipping business, grow my team and really systematize everything, and work harder at that. We’ve started that somewhat in the past and this year we’re just going to take it to a whole new level, flip 100 houses and kick a lot of butt in the house flipping business this year. And then on top of that, we’ve got major changes coming to LeadPropeller, our real estate investor website is at leadpropeller.com and then also REIMobile which is the CRM software system for investors that helps us keep track of leads, follow ups, marketing, all that kind of good stuff. And so as we ramp up the house flipping business and grow the team, we’ll have more ideas and changes for this CRM system, REIMobile, and as well as LeadPropeller to make improvements for efficiency and everything like that. We’ve already begun a lot of those changes that we’ll be releasing pretty soon within LeadPropeller, so super excited about that. I plan to have some webinars to help show those things that we’re doing. We have some some awesome ideas that are going to help everybody so be looking out for that.
Now changes to the podcast – this podcast. I wanted to go a little bit of a different route. Basically what we’ve been doing so far is having interviews on a topic and they’re sort of all over the board. One day you might be listening into a podcast about wholesaling, the next day, it might be a podcast about mindset, the next day it could be the podcast about owner financing properties and there’s no sort of flow to it and it’s kind of bothered me. I wanted to reconsider the whole process and what we have planned for that. So what I decided to do is produce a series. This is either going to be like a half year or a full year series that goes in order sort of like a course. So this is like a flipping houses training series that starts with the beginning and goes in the direction of what I feel is necessary in order to learn this business and get started in this business and go into detail on each thing instead of just having a quick episode on how to get started. It will be first probably five or six episodes will be something on mindset, so like self-improvement strategies for getting started with without much money, with some actionable first step strategies getting started when you have a little bit of money, goal setting, when to quit your day job. Should you set up your business entity, which type in when – cover some of those basics that start out in the beginning and then go into more detail and progress into building your team, who should be on it, when you should build it, all that kind of good stuff. Finding good contractors working with realtors, working with wholesalers and then getting money so then we’ll transition.
This could all be rearranged as I look into it a little bit further and we can rearrange these sections, but there’ll be a section on funding, so you’ve got to know where to get money to flip houses. And so we can talk about partnerships and then maybe another episode on hard money lenders, another one on private lenders, small local banks, things like that. And then of course analyzing deals and then finding deals, leads, motivated sale or marketing using them much or less, get into negotiating in contracts and things like that, working with contractors. I mean there’s just so much to cover and with a format like a podcast, I think it actually works out really well because we can try to give actionable steps each week for each step of the process. Being a podcast, it’s free of course and I think a lot of people will get a lot of benefit and it’ll be a reason for you to come back each week and listen in and it’ll all flow and sort of go well together instead of being something that you just sometimes come back and listen to now because it’s an interesting episode.
So I’m really really excited and looking forward to starting that series and actually next week will be the first one of the series, which will be on mindset and self-improvement and really looking forward to that. Brant Phillips will be the person in that interview. He’s doing a lot of incredible things over in Houston which isn’t far from us. We’re in San Antonio. I’m looking forward at Brant on the show. It’s going to be a very very good episode and I hope that you tune in next week to listen to that. I guess basically I might have trouble getting a certain person for each of these topics so there will probably be weeks where I have you know just myself talking about that subject or something like that. So what I wanted to do though also with respect to that was reach out to all of you guys and have you tell me who you’d like to learn from, so we can in advance say what the next several episodes are going to be topic and if I don’t have somebody lined up for it I’ll ask the audience out there, all you guys, which I’m very grateful for tuning into this podcast and there’s a lot of house flipping podcast that I’m glad that you listen to mine. What I’ll do is on the Facebook page which is at facebook.com/flippingjunkie, I’d like for you guys to go ahead and submit who you would like to hear from with regard to each of those topics. If I don’t have somebody, I’ll let you know and ask for your input and we’ll try to get them on the show. At the same time, you can ask questions on that Facebook page. Ask questions and we’ll answer them and then if you feel like maybe there’s a gap somewhere in the series of podcast episodes then obviously voice your opinion of that and let us know what you like to hear about, so that we can pop that into the series so you don’t have to wait for you know a year to hear about the topic.
That will be a place that we’ll be checking on and we’ll be interacting with to hear from you, get your input and help make this exactly what you’re looking for to get through any of the hurdles and things that you’re going through, and that’s not just for new people ___ [0:08:25] For the experienced flippers out there, obviously go in there and ask if you want to get into some detailed things that fit into the part of the series that we’re at. By all means, contact us through the Facebook page at facebook.com/flippingjunkie.
I forgot to mention also earlier with the house flipping that we’re going to be doing, Melissa, my wife, is going to be helping me with posting more on the blog and showing more of exactly what we’re doing instead of just how-to articles and stuff like that. We’re going to be sharing a lot more of our flipping business again. She’s already started doing that with Instagram. So if you go to instagram.com/flippingjunkie, you’ll see our Instagram and follow us there. I’ll be posting a lot more stuff, so you can get pictures of the rehab and stuff like that. So it’s instagram.com/flippingjunkie or obviously on the app you can search for Flipping Junkie and find us and follow there. Then be sure to like the Facebook page at facebook.com/flippingjunkie and if you haven’t subscribed to the podcast, you would want to do that so you can get these updates every week of the new podcast episode in the series, The Flipping Houses Training Series.
Thanks again for listening in and glad that you’re a fan of the show and – well, I hope that you’re a fan of the show and share with us your opinions and input with the Facebook page and be sure to leave a rating review on iTunes. That really helps us with getting some more traction with the podcast and allows us to do a lot more with it and you can do that on iTunes. Just give us a rating and review. Thanks again for listening and we’ll see you next week with the first episode of the Flipping House Training Series for the Flipping Junkie Podcast. Have a great week.

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2 awesome responses to “Episode 16: How to Succeed at Flipping Houses in 2016”

  1. Ray on

    Danny,
    It’s rare these days to have someone leave the door open to their business and invite you in! Your information and training have been awesome. My wife and I bought our 1st house in Feb of last yr and went on to flip 12 homes in 2015. One of our specific goals was buy –> reno –> sell in under 90 days. We accomplished that in all but 2 of our 12 flips. As we look to scale to 50 deals this year our biggest challenge appears to be sourcing that many leads to hit 50 flips. We were exclusively MLS in 2015 so a training on marketing, websites, etc would be awesome. I know you already have a ton of resources through flipping junkie so maybe a play by play of how to start, ramp up and sync all of these marketing systems. Thanks again-looking forward to the 2016 podcasts!
    -Ray