Honest Answers to 5 Real Estate Questions

ShareShare on FacebookTweet about this on TwitterShare on Google+Pin on PinterestShare on LinkedInEmail this to someone

Some of these are common, some UN-common…

“What is Flipping?”

Flipping real estate mean buying a property and then increasing its value in order to eventually profit from its sale to a retail buyer. The common mistake new investors make is relying too much on the renovation to create the profit margin — it’s how you buy the property in the first place that really gives you the leverage to make a larger spread.

TV shows never show the holding and maintenance costs of not selling the house fast enough once the renovation is complete. The most successful flippers make sure the numbers are crunched before buying, never get emotionally attached to a property, and have a SYSTEM to get the house sold quickly.

“What’s a Bird Dog?”

A bird dog is someone who hunts for deals (undervalued properties and motivated sellers) and refers it to a flipper or wholesaler for a finder’s fee. Many new investors start at this stage first, getting to know the marketing end of finding motivated sellers.

“What is Wholesaling?”

Wholesaling simply means that you never renovate or buy the house yourself — instead, you put in “under contract”. Wholesalers are like next-level bird dogs: they can hunt for, find, AND “lock down” deals for higher profits. Wholesalers don’t don’t flip houses, they flip contracts.

“How Do ’No Cash/No Credit’ Real Estate Deals Really Work?”

Of course, no deal gets done without some money…but it does not have to be yours. When you become experienced at finding and securing real estate deals “the money will find you”. There are many different ways to finance a deal that do not require cold bankers, intimidating lenders, or ever risking your own future.

“What is an Income Property?”

Not all deals have to be “flipped”. You can generate monthly income from properties and build a real estate portfolio for long-term wealth. This is the truest for of real estate “investing”.

“How Do I Get Started In MY Area If I’m New to Real Estate?”

I started with a few books but then quickly graduated to having a mentor help me. But, books can be boring or confusing and mentors are hard to find (and paid coaching can seem like a big investment when you’re just starting out).

The best way to get started is by checking out the exact plan I used myself (it’s proven to work for me plus simple & fun to master). Click the image below to see what I put together for you…