Flipping House: $100,000.00 a Month Flipping Houses (Blueprint to get YOU there)
739 views · Published 15 March 2018 · 1:16:34 · Indexed 20 September 2026
Channel: Mr No FluFF (My Real Estate DOJO) · 2018 · Howto & Style
The Three Stepping StonesReal estate is complex.
There’s no getting around that. If you’ve been following me for a whileon Facebook or YouTube, or you’ve been to your share of REI club meetings, you know thatthere are many strategies for success in real estate.Unfortunately, many investors overcomplicate the process. This can leave you feeling deflatedbefore you even begin. That’s why I started the Real Estate Dojo and Mr. Investor. I’ve takencomplex ideas and strategies and broken them down into The Three Stepping Stones. This makes the information easier to absorb and implement.Imagine you’re standing on one side of a creek. You need to get to the other side without gettingwet. You could wade through the water but there’s no way to do this without ending up soakedand you could slip. Luckily, you see three perfectly placed stones leading the way to the otherside.
Now some other investors will tell you to jump to the second or third stone. You can make it! So,you take their advice, get a running start, and aim for the middle stone. Just as your foot hits thestone, you feel it slip out. You crash into the water.If you had taken the time to utilize the first stone, you would have safely made it to the second,and then the third, and then the opposite bank. Rushing the process is a waste of time and money when it comes to learning real estate investing.Let’s talk about the stones in a little more detail, as I refer to them often in this guide.The First Stepping Stone – Lead GenerationThe first step is called Lead Generation. In this step, you’re going to focus on learning how totalk to a seller and determine if they’re the seller for you. This first step is crucial.The Second Stepping Stone – ConversionThere’s plenty to do on the second step. You’ll learn how to fill out the contract, and how towork different strategies, like short sales, Subject To’s, wholesaling, and working as a landlord.You’ll also learn how to provide estimates, how to make offers, and how to set up yourcorporation, including your logos.9
The Third Stepping Stone – Exit StrategyNow that you’ve done the hard work, it’s time for the fun part (even though it’s still work!).Your Exit Strategy is all about how you’re going to make your money. This is different foreveryone.For example, I’m a Buy and Hold kind of guy. When I buy, I like to hold on to the properly. Mystrategy is that I’m going to have a cash cow that continues to generate money for me and mykids. But if you want to get into wholesaling, your action plan will look much different. It doesn’t matter which Exit Strategy you take, as long as you have it mapped out.
Creative FinancingUncommon Ways to Fund Your DealFunding is intimidating to most beginning investors. It’s big and confusing and downright scary.But it doesn’t have to be. Whether you have a hundred bucks or $20,000 to start your investing business with, there’s a financing option out there that will put you ahead of the game.Don’t worry. I’m not going to talk about the basic funding concepts like hard money, lending, orprivate money. I don’t like debt and I would never recommend a method that involves you takingseveral steps back financially. I believe that we all have everything we need inside of us. TheCreator put you here. Your dream has been planted. Now it’s up to you to absorb the sunshinearound you, work your ass off, and harvest your produce using your imagination and creativity.Subject ToOne uncommon way to fund your deal is to have the owner of the house fund it. This is knownas Subject To. I didn’t come up with the name. It’s mentioned on the HUD-1 form. There’s asection on the form that says you’re buying the property “Subject To” the existing mortgage.15
What does that mean? It’s means that you met with the seller and they want to sell. Maybe they’re going through a divorce and can no longer afford the house on their own. What you’rebasically doing is stepping into the seller’s shoes and taking over their payments. This might notmake sense if you’ve never heard of it before, but this is a completely legal and viable option.This is the difference between successful real estate investors and the not so successful. Even ifan option seems strange or impossible, you need to consider it.I use this strategy the most. I love cash deals but there aren’t as many 60 cents on the dollar deals out there as other investors want you to think. Most sellers can’t afford to sell their homes for so low.
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