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Yes! Finally, a podcast for Flipping Junkie!
I need your help in deciding on the format you want, who to interview first and what you want to hear about. Please fill out the survey below to help make this the best real estate investing podcast. (be sure to scroll to bottom and click ‘Done’)
I really appreciate your input.
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Comments (47)
We are beginning a new business. And fear is a big problem. We are working on identifying buyers first so we have an exit strategy for the deals we will eventually find.
Hey Don.
Thanks for the input. Great idea.
Danny
Where is the survey?
Charlie,
If it doesn’t show, please visit this page: https://www.surveymonkey.com/r/KQLN63X
Danny
Im sure whatever you put out will be great Dany
DD
🙂
Thanks David!
love to read all of your information
Thanks, Tom.
I do plan on having the podcasts transcribed so that they are presented as blog posts that can be read.
Danny
The transcriptions idea is a great one! I have been thinking about a podcast (on a completely different subject), and I realized that this one idea will save me TONS of time, on an accompanying blog I wanted to launch, as well. THANKS!
Glad you received some inspiration. 🙂
Let us know when you launch, I’d be interested to see what you end up doing.
Danny
People that are actually doing deals today… Not in 2008, not the gurus who are sales people dressed in real estate speak…
I active in the market and doing deals regularly as well as holding down a full time job. If I leave my employer a lot of my loan capacity goes away… I’m not in a position to do this with all my cash. I’d like to scale and have 2-3 homes going at the same time. How do I get there?
How do I find real good below market deals? This is my biggest hurdle. Most of the wholesalers in Houston take the meat off the bone and leave very little to nibble on for the guy that takes most of the risk and a limited upside… If I had them the money would flow to me to turn them…
Thanks,
Todd
Todd,
Great ideas. For now, please see this post about finding private lenders: http://flippingjunkie.com/2011/how-to-find-and-approach-private-lenders-the-ultimate-guide
That’s what we did. The other option is to partner with someone that will put up all the money and split profits 50/50.
Danny
Hard money versus private money
Costs estimates
Great idea, Douglas. Thanks.
The most important thing when buying Is the neighbor hood. A bad neighbor hood will guarantee failure. A great web site to use is city-data.com. I also use google map
Thanks, Charles.
If you could, could you put out a podcast on all the fees required that go into building a new home, aside from the actual construction costs, from city/school taxes, Building fees, utility connection fees, etc?
I thought building was the way to go but after hearing about all the misc fees, might not make sense anymore, thanks.
Francisco,
I don’t really have any experience in building a new house, but I could always interview someone who does. But…I do know that unless you are building a lot of houses, it just is too much work for the amount of profit. Profits made for work done on a flip is usually much greater.
My first flip, a total fiasco, went wrong because I was intimidated by property managers and contractors who knew best……..how to rip me off.
I won’t be intimidated again and the more educated I am, the easier that will be. I thought I knew enough but even keeping records of improvements that haven’t been under my control has proved almost impossible and my record keeping is in shambles. It’s very difficult to compare projected cost to actual, especially when all borrowed funds go directly to the property manager. Is that really common practise? Or is it just for out of towners?
Now on my fourth property manager (construction on the triplex is still not complete after 15 months), all I want to do is get out and start from scratch. I’m lucky prices have risen to cover most of my losses.
I’m looking forward to the podcast(s) and interested to see what subjects will be covered.
Valerie,
It sounds like you really need someone you can trust that is handling your dealings if you are not local to the area. I prefer local investing if at all possible.
Valerie,
That would be a great topic for a show. Finding the proper contractors to work with. There are always crooks, but there are also ways to find out who is likely to be one of those crooks.
Looking forward to the podcast!! I have been mostly focused on fix and flip. However, a topic I have been thinking about is moving into buy and hold. First by purchasing and rehabbing a property using private or hard money and then being able to move that property into a conventional or portfolio lender.
Great idea. Thanks, James.
Danny
Some conversations that would interest me: Your perspective on the huge influx of “newbies” into the industry.
How your business and goals have evolved and what’s on your horizon.
Your philosophy of talking to callers.
Your thoughts on carrying the paper now with the new regs. Maybe you could get Mitch Stephens on there.
Internet marketing vs DM.
BUT the most interesting conversations are always the war stories. Like Jack Miller’s “Wheeler Dealer” just one story after another is what I could listen to for days.
Looking forward to it!
Websites/direct mail and other marketing strategies
Definitely.
Thanks.
Go for it, Danny, my first wholesale was a double closing. Because of my building experience finding the homes or estimating the repairs, repairing the homes, location etc was no problem the fear was in the legal parts of the business, the contracts, bandit signs, contracts, contracts, you get point. Thanks Dan
Thanks, George. Great idea about covering some of the what might concern people with legalities.
I am going to finish an Intro to Real Estate class soon and would like help deciding which to do first: create an LLC, create a Website and for motivated sellers, or find private investors?
Sincerely,
Bret
Helping people with the order of where to start, step by step would be good to cover. Thanks.
BTW, I would start with trying to find deals and becoming friends with active investors in your area. If you never find any deals, the other things don’t matter at all.
looking forward to your podcast
Thanks.
Keen to hear about house flipping success criterior
Thanks.
First, you could use some help on your website capabilities, like this questionnaire as an example, which looks like it might be created with Drupal?
I’d like to hear more about several things. Here’s an incomplete list;
1 – Acquiring finances to purchase/remodel?
2 – Finding trustworthy and competent contractors in various trades (flooring, painting, cabinets, etc, etc)?
3 – Estimating cost of refurb.?
4 – What a novice “handyman” can/should do myself, vs what should be farmed out to pros?
5 – What rehab is good-enough, vs what’s overkill or under “nice”?
6 – What repairs, remodels, niceties are worth the expense, vs what won’t pay for itself and a waste of money/time/effort?
7 – Finding qualified (real) buyers – is a real estate agent worth their commission, advertising, showing – the whole process of “selling”.
Let me give you a summary; The nuts and bolts for the early/newbie house flipper, start to finish – in layman’s terms and DOABLE – not “pie in the sky” perfect scenarios.
THANKS!
Lee
LOL. Actually, the questionnaire is a copy and paste script from SurveyMonkey. Styling is definitely lacking.
Thanks for the list of items.
Danny
I really like the content and format of your instructional videos and your blog. These are really presented well for those just starting out.
Thanks, Douglas.
Good luck with the new podcast!
Thanks!
I became a huge fan of your email list, because you dared to do something that almost NO ONE does- provide SPECIFIC information (what worked / what didn’t, before / after photos, marketing efforts, etc.)!
Thanks for the feedback, Larry. I definitely want to include specific information instead of general ideas. Honestly, I can’t stand just giving general basic information…boring! Even if I interview people, I want to take action on their ideas and report back the results I get. That would be different than any other podcast out there for sure.
Danny
I think that the podcast is just a great I deal on your site
Marcial
Thanks. I think so too. 🙂
Just be sure to get a high quality mic … nothing wrecks a podcast from the start like crap sound … good luck on this, will be listening!
Couldn’t agree more. 🙂