Want to be an expert Real Estate Flipper?
So what if you don’t have 20 years experience, you can still go out and make the same money the pros make right?
You can make 30k, 50k or more on your next flip.
And you can do that even if you’ve never done one before. With NO EXPERIENCE.
BUT, most people have fear of doing it, so they will look at properties for a while and never do anything, OR they don’t have the money so they don’t do it, OR they throw caution to the wind and plow through and not make very much money at all, or even lose on a project.
I’m a firm believer in focused education. Real Estate Investing education is CRITICAL to your success, and to building a long term sustainable flipping business. Learn the process from others, build a business plan with input from others, put a power team together with input from other successful investors.
The most expensive education is losing 20k on a project.
The second most expensive education situation is NOT taking action on a deal and missing out on a real opportunity to make 30k.
So in my experience, people that mess up, or miss out are what we call amateurs. And the biggest differences between amateurs and the pros is education, information and knowledge.
Amateurs don’t figure in repair costs correctly, forget about holding costs, don’t determine ARV correctly, pay too much for the house, etc etc etc. And the pros do these things correctly because they know how to do it.
And amateurs pass up on deals because they really don’t know what to look for, don’t know what their costs really are, and don’t make an offer because their are scared it might get accepted and don’t know what to do next.
The answer to both of these problems for amateurs is to have the experience and know how.
There are 2 ways to get that experience and know how.
- One is to go out and learn it all on your own.
- The second is to learn from other successful people. Get an education from these folks. Learn how the pros do deals. Study them. Learn what they know. See how they put deals together. See the areas they buy, the houses they flip, the rentals they keep, the tenants they put in, the contractors they use, the designs they have, the paint colors and materials they use etc.
Experience comes with time, but knowing contractors, design, paint colors, materials to use, knowing the market, knowing the neighborhood, knowing and understanding the buyers in the area and their wants and needs are all things that can be taught.
In my mind, education is so important and so critical to your success that going about it any other way is just silly. On such a big purchase like a house, why would you want to set yourself up for failure vs learning how to do it the right way from people that know what they are doing?
In some respects that why I love SSIC, we focus on education and information. We have the knowledge people need to be successful through real estate investments. AND we love sharing and teaching people, AND we’ve found that we are pretty dang good at it. Not trying to toot our own horn here, but when someone comes to us who is ready to learn how to do this business right, who has a strong desire and who is resourceful, we can end up taking them as far as they want to go. And we’ve helped tons of people do precisely that.
Value of Education
Education helps you get over your fears, and can give you a step by step action plan of attack. Education helps to ensure success. It helps to dramatically reduce the learning curve. And it might help you in actually passing on a deal that would be a loser because you didn’t know what you were looking for. And education will help to know where to look for the best and most profitable deals.
Whether you are trying to build a small portfolio of rentals for additional income, or build up a medium sized one to replace your income, just do a few flips or if you want to go out and jump in full time and to 10-15 flips a year, knowing what to look for and how to do it is the key to success.
This business is pretty simple in theory. The average profit from a flip is 30k, so doing 4 flips a year is 120k. And it can be that simple if you know what you are doing. And if you don’t… I suggest learning, and learning quick. And learning from people that know what they are doing. Get the education you need to be a real estate pro and have a successful and profitable endeavor.
The last thing education can help with is Freedom. Sure it can help you overcome those fears, and it can give you a step by step action plan of attack, but Real Estate is not all about the money, it can be about Freedom. And if you spend 5 years learning this business all by yourself, you will have some long hours ahead of you working harder than you need to work. If you know what you are doing, you can make incredible money working a lot less than the average person does at a JOB. That’s what drew me into Real Estate to begin with. I saw people cashing big checks, and I though wow… seems a whole lot easier than my day job… Think about rehabbing just 1 home, and then cashing a 30k check and it took you 12 weeks to do that. Some people work all year for that kind of income. And what if you did that 2 times, or 4 times or more? If you have the right education you can do that pretty quickly.. or relatively quickly. Instead of learning on your own, and spending all your time doing it yourself, you could go out and achieve that NOW vs 5 years from now.
So for me, education solves several issues. And when there’s this kind of money on the line, you’d best get some knowledge, and get it from the right folks. Real estate offers incredible money and amazing freedom. To start, all you need is a strong desire and to be resourceful, and then couple that with the right education, and you’ll be setting yourself up for success.
Invest on, I hope you enjoyed this read.