House flipping is a great way to make money: it can afford you a life of luxury, if you do it right. But if you’re inexperienced, you could put in months of work and have less money than when you started.
You’ve got to find a bargain deal, improve it, and sell in just a few months – otherwise, you might find yourself selling your prized possessions just to repay the hard money lender.
But don’t fear!
In this episode, you’ll get a masterclass in house flipping. In 40 minutes, you’ll go from zero to deal-ready. All that’s left is to put in the work.
Show highlights include:
- The “driving for dollars” strategy that lets you access lucrative deals with nothing but a car and a bright pink post-it note (8:12)
- A back-of-the-envelope formula that lets you analyze a deal in minutes so you can snap them up before anyone else (10:43)
- How to get fast, low-interest finance for your deals without going to a bank (16:37)
- The “house-hacking” method that lets you fund your next flip at attractive interest rates (without paying tax) (19:53)
- Find a reliable, low-priced contractor by looking for the ugliest pickup truck in town (28:30)
- Avoid paying months of hard money interest by looking for the “two yellow lines” (38:15)