Podcasts about after repair value arv

In the latest episode of Raising Private Money, Jay Conner dives into the inspiring story of Jonathan and Cara Broyles, a dynamic duo in the world of real estate investment. From starting their journey in 2021 to closing high-value deals, Jonathan and Cara have shown the power of strategic planning, persistence, and the importance of nurturing relationships with private lenders. This episode highlights their recent property acquisition and the lessons they learned along the way.Securing the Deal: 143 Royalty DriveJonathan and Cara's most recent endeavor revolves around a property located at 143 Royalty Drive. The property, after undergoing necessary repairs and renovations, boasts an impressive After Repair Value (ARV) of $550,000. However, reaching this point was no small feat.Assessing the Property:The house, previously occupied by an owner and 80 Siberian husky dogs, was in dire need of cosmetic repairs. Recognizing the potential in the property, Jonathan and Cara estimated a generous $100,000 for the rehab, including a contingency fund for unexpected expenses—a strategy they call "Murphy," named after Murphy's Law that suggests if something can go wrong, it likely will.Negotiating Purchase Price:Initially listed by a wholesaler for $367,000, Jonathan and Cara knew their maximum allowable offer based on their rehab estimates would be $310,000. Despite the significant gap between their offer and the asking price, they stuck to their numbers, a testament to their disciplined approach to real estate investment. The wholesaler initially countered with $330,000, but eventually, Jonathan and Cara's persistence paid off—their $310,000 offer was accepted.Lesson Learned:Stick to your evaluated numbers and don't let emotions sway your decisions. By adhering to their calculations, Jonathan and Cara secured the property at a price that allowed for a profitable investment.The Power of Private LendingA vital piece of Jonathan and Cara's strategy involves leveraging private lenders to fund their property acquisitions and renovations. This approach minimizes the need for traditional loans, accelerates the buying process, and often provides more favorable terms.Expanding Their Network:For the 143 Royalty Drive property, Jonathan and Cara initially anticipated using $250,000 from a new private lender. However, this transaction took an exciting turn—the lender expressed interest in funding the entire deal, boosting his investment to $410,000. This unexpected increase emphasized a crucial point in private lending: private lenders often have more funds available than they initially disclose.Key Point:Always present opportunities to your private lenders confidently. They may have more capital ready to deploy once they see a promising investment.Interest Rates and Returns:For this particular deal, the private lender agreed to an 8% interest rate on the $410,000 loan. Over the projected six-month rehabilitation period, this translates to approximately $16,000 in interest—a reasonable return for the lender while still allowing Jonathan and Cara to achieve their target profit margins.Working with Realtors: A Smart InvestmentAnother pillar of Jonathan and Cara's strategy is their partnership with a reliable realtor. Although paying realtor fees can seem daunting—30,000 in this case on a $550,000 sale—the benefits far outweigh the costs.Benefits of a Professional Realtor:Realtors handle the legwork, both pre-and post-renovation, helping to price the property appropriately and sell it quickly.They ensure the property reaches a wide audience, increasing the chances of a top-dollar sale.Advice to Investors:

In the latest episode of the Raising Private Money podcast, Jay Conner sat down with mastermind member Tim Benskin to discuss his latest deal in Swannanoa, North Carolina. Tim shared his unique approach to acquiring, financing, and profiting from real estate investments, offering invaluable lessons for aspiring and seasoned investors alike. Today, we will dive deep into the key topics discussed, providing a comprehensive guide to understanding Tim Benskin's successful strategies and tactics.A Fortuitous Encounter: The Genesis of the DealTim Benskin's latest deal began with an unexpected opportunity. While working on a property purchased from a wholesaler, Tim was approached by a neighbor who inquired if he would be interested in buying his house. This initial conversation set the stage for a profitable transaction.Key Takeaways:Networking and Relationship Building:Tim's success in this deal highlighted the importance of maintaining good relationships with contractors, neighbors, and other stakeholders in the real estate industry. An open line of communication can often lead to new opportunities.Opportunistic Mindset:Being present and attentive during property renovations can present unforeseen chances to acquire new properties at favorable prices.Negotiating the Purchase PriceThe neighbor initially asked for $150,000, but after assessing the property and understanding the seller's needs, Tim successfully negotiated the price down to $130,000. This $20,000 reduction set the foundation for a profitable investment.Key Takeaways:Negotiation Skills:Tim's ability to negotiate effectively saved him a substantial amount on the purchase price. Understanding the seller's motivations and maintaining a flexible negotiation stance is crucial.Assessing Property Value:Conducting a thorough property valuation, including an understanding of After Repair Value (ARV), is essential in negotiations.Leveraging Financing: Private Money and Profit CentersTim financed the property using private money, borrowing a total of $130,000 from two private lenders. The strategic use of private money enabled Tim to acquire the property without using his capital while structuring repayment terms that supported a positive cash flow.Key Takeaways:Private Money:Utilizing private lenders can provide flexible financing options, often with more favorable terms compared to traditional lending institutions.Multiple Profit Centers:Tim created several profit centers through this deal, including monthly cash flow, a nonrefundable lease option deposit, and potential appreciation upon sale.Innovative Selling Strategy: Work for EquityTim's decision to sell the property through a lease option with a "work for equity" component was a masterstroke. This approach not only minimized his upfront renovation costs but also incentivized the buyer to invest in the property's improvement.Key Takeaways:Work for Equity Concept:Allowing buyers to reduce their purchase price by undertaking necessary repairs encourages them to buy into the property's value and care for it. Tim's buyers stand to receive a $10,000 credit for completing specific agreed-upon repairs.Reducing Risk and Increasing Profit:This strategy reduced Tim's risk and repair costs while increasing the property's sale price to $187,000, considerably higher than its ARV.Monthly Cash Flow and Final Profit AnalysisPost-financing, Tim's monthly outgoing payments to his private lenders totaled $940. His lease option agreement brought in $1,450 a month, leading to a net positive cash flow of $284.34.Key Takeaways:

https://skiphouses.com | Shadow Me Wholesaling Commercial Real Estate | https://cashbuyers.ai | Tap this to build cash buyers list anywhere in 60 seconds Join us for an exciting livestream where we explain why After Repair Value (ARV) is so important in real estate wholesaling. We'll break down what ARV is, why it matters, and how you can use it to make smart investment decisions. You'll learn how to estimate the value of a property after it's fixed up and why this number is crucial for making profitable deals. Whether you're new to wholesaling or already have some experience, this livestream will give you the tips and tricks you need to succeed. Don't miss out—tune in and find out why ARV matters! Tap this link https://dealulator.com/tools/ to access the these tools I used in this video. Use the Promo Code: FLIP MAN to get this tool at a 33% discount Tap the link below: https://parcelfair.com/Account/Register Watch the full training on how to use this tool at the link below: https://intel.getprivynow.com/2022-webinar-replay?utm_source=community.com&utm_medium=sms Tap the link below to sign up for this tool now: http://www.getprivynow.com/#62a8da5ceddd6 Setup your LLC and get access to 250+ Tax Deductions at the link below https://primepartner.info/dealulator Need to Find Owners: https://Skip2Flip.com Text2Flip.com - https://text2flip.com Tap this link https://Dealulator.com to download a free copy of my 1 page contract I've used since to 2003. Follow me on Instagram https://instagram.com/askflipman Twitter: https://twitter.com/AskFlipMan TicTok: https://www.tiktok.com/@askflipman LinkedIn: https://linkedin.com/in/theflipman/ Facebook Page: https://www.facebook.com/flipman.net Join private Facebook Group: https://www.facebook.com/groups/wholesalingrealestate/ #arv #wholesalingrealestate #flipman

In this episode, Ryan (@theryanrice) details the five step process he takes to determine the After Repair Value (ARV) for a prospective home he's considering to purchase. If you're a real estate investor actively purchasing homes, or are looking to get in to real estate investing and want to have a high level of confidence on future value, this episode is for you.

Are you looking into buying a house? How much should you offer? How would you calculate the repair cost and all the other fees?You're about to find the answers to those questions in today's episode. As discussed in last week's episode, you make your money when you buy a property. This means that when you get the property at a great deal, it will make up for a lot of mistakes that could happen later on.That's why learning how to make a sound offer on a for-sale property is the most crucial step of the buying process. Because honestly, we don't want to be that person who'd hold on to properties for 10 or 15 years hoping that we could sell them at a profit.So, after we talked about real estate market research last week, in today's episode of Women Creating Wealth, we'll talk about…- safety margin cost- how to calculate repair cost- how to determine how much to offer- and more…Whether you're looking for a house to flip or doing the traditional buy and hold, you must learn how to figure out what the property's current value is and what it will be after you've renovated it. Make sure to tune in to learn more!Let's get started!--Key Takeaways:Intro (00:00)The ideal safety margin (02:10)What is a holding cost? (03:45)How do you figure out how much the repair costs? (04:30)Inspect the property with someone experienced (09:14)After Repair Value (ARV) explained (12:06)What is the Rule of Expectations? (13:10)Quick recap (17:25)--Additional Resources:- Sign up for my FREE real estate mini-course here- Grab a copy of my book Empower Your Inner Millionaire- Visit my real estate blog here--Connect with Me:- YouTube- Facebook- Instagram--Women Creating Wealth is a podcast empowering women to achieve financial freedom through real estate investing.Be sure to follow it on your favorite podcast platform!

Welcome back everyone to “The Really REAL Real Estate Podcast!” When it comes to purchasing an investment property, there are a great number of details that need to be factored in before determining an offer price on a potential investment property, making the offer, and ultimately, purchasing and closing on that new investment property. For many new investors out there, they may not be aware of which details are the realtor's responsibility to research and discover vs. which details are the responsibility of the investor to investigate. Today, we talk about which responsibilities are delegated to which party, so the investor has the highest potential of making the most profit on their new investment purchase. TALKING POINTS (3-5): - Introduction - These bullet points primarily focus on buying a property to flip, but we'll discuss after how these bullet points are true for potential rentals - What is the realtor's responsibility when helping an investor find a new investment property? - Help find properties and show those properties to the investor - Offer observations when touring the home; also, offer insights into which repairs/renovations would maximize the resale of the property after renovations - Help investors determine an After-Repair Value (ARV) of the home - Help to determine the closing costs on both sides of the transaction (buying the home and then reselling it at a later date) - Help the investor write up the offer and handle the nuisances of closing on the home - What is the investor's responsibility when finding a new investment property? - What repairs do I want to make? - Can I handle the amount of work required for this property? - How long will this property take me to repair? What will my holding costs be with this property? - How much will these repairs cost? - How much do I want to make in terms of profit on this property? ***These bullet points focus mainly on investors purchasing flips – take a few minutes to briefly discuss investors looking to buy residential/commercial properties to rent.*** - Final thoughts - Buyers are becoming smarter and more aware when it comes to purchasing flips – they are seeing which renovation projects and flips are done correctly and which projects had the proverbially “lipstick on a pig” vibe to them!!! #responsibility #howmuchwillthiscost #whodoeswhat #lipstickonapig JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/chan

Private Money Academy Conference: https://www.jayconner.com/learnrealestate/ Free Report: https://www.jayconner.com/MoneyReport Join the Private Money Academy: https://www.JayConner.com/trial/ For today’s episode of Real Estate Investing with Jay Conner, he will teach his viewers and listeners the step-by-step process of how to make a profit of $89,000 that he actually earned on his recent deal. For this specific deal, the house is located at 108 Fern Court. It’s a beautiful home over in the resort area. Jay bought this house 3 weeks ago and they are already finishing the rehab next week. First the numbers: he bought this house for $266,000, with a rehab cost of $20,000. The After Repair Value (ARV) is $375,000. Let us pretend that Jay did not buy this house yet. Here is the possible Maximum Allowable Offer (MAO) for this house, $300,000.00 minus repairs of $20,000 will be a total of $280,000 for MAO. But sometimes there are also some unexpected repairs that you did not count on. So to cover this Jay always prepares a buffer of $10,000. By doing this, it will give him the most decent amount that he will pay. So the amount now that Jay would almost pay is $270,000. But how much did he actually pay? Yes, $266,000! He actually paid less than $4000 than what his formula for getting the MAO calls for. But this is not the end yet, If you want to know the full details of this deal, and want to learn how he earned $89,000 on this deal, just watch the video. If you want to learn how to get funding for your deals using private money, get on over at https://www.JayConner.com/trial for 30 days of free access to Private Money Academy. YouTube Video Link: "Step By Step Guide to $89,000 Deal With Jay Conner, The Private Money Authority" https://youtu.be/dj0ibyTsPag Have you read Jay’s new book: Where to Get The Money Now? It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book Real Estate Cashflow Conference: https://www.jayconner.com/learnrealestate/ Free Webinar: http://bit.ly/jaymoneypodcast Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal. What is Real Estate Investing? Live Cashflow Conference https://youtu.be/QyeBbDOF4wo The Conner Marketing Group Inc.P.O. Box 1276, Morehead City, NC USA 28557 P 252-808-2927F 252-240-2504 Channel https://www.youtube.com/channel/UCZfl6O7pRhyX5R-rRuSnK6w https://www.youtube.com/c/RealEstateInvestingWithJayConner RSS Feed http://realestateinvestingdeals.mypodcastworld.com/rss2.xml Google Play https://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47y iTunes: https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034 Watch on ROKU: Roku https://my.roku.com/add/realestateinvestingRoku https://my.roku.com/add/realestateinvesting Watch on Amazon Prime: https://www.amazon.com/How-Locate-Real-Estate-Deals/dp/B07M9WNZR6/ref=sr_1_3

Jay Conner is a real estate investor who has been buying and selling houses since 2003 in a population of only 40,000, with profits averaging $67,000. He's rehabbed over 400 houses and has been involved in over $52 million in real estate transactions. For the past seven years, Jay has completely automated his seven-figure real estate business, to a point where he works only 10 hours per week in his business. He's consulted over 2000 real estate investors one-on-one. He's known as a private money authority. He raised $2.1 million in private money in less than 90 days when the bank refused to loan him a dime. He's a national speaker on topics of private money, business, automation, automating your real estate business, and foreclosures. He's a leading expert on private lending marketing and business development. He is also the best-selling author of Where To Get The Money Now. Stay until the end of the podcast and he'll send you a free copy of that book. This episode talks about: What is private money? Advantages of using private money lenders over traditional bank lenders Why do private money lenders charge higher interest rates than banks how this can still be advantageous Different payment structures and payment schedules for private money loans The difference between After Repair Value (ARV) and Purchase Price How to leverage the cash value of your Bank On Yourself type whole life policy to become a private money lender The time it takes to get a private money loan processed vs traditional bank financing To connect with Jay Conner, please visit: Company Website: ➡️ https://www.jayconner.com LinkedIn:➡️ https://www.linkedin.com/in/privatemoneyauthority Facebook:➡️https://www.facebook.com/jay.conner.marketing Get a FREE COPY of Jay Conner's new book, Where To Get The Money Now? ➡️https://www.jayconner.com/book-details To learn more about Infinite Banking, please reach out to us at

In this episode of the F.I.R.E. podcast, we are greatly excited to talk to a young woman in her thirties, a millennial who even as she is holding a demanding full-time job, was able to own investment properties and well on her way to her goal of retiring early. She even has the confidence to take the affirmation that, "I can quit this year, I can leave my full-time job."  I am talking about Sarah Larbi, a real estate investor, speaker, coach, mentor and host of the popular podcast, "Where Should I Invest?" We will be talking about her area of expertise on BRRRR, which is Buying, Renovating, Renting, Refinancing & Repeating strategy.   This is one episode you will not want to miss. Enjoy listening! What You Will Discover In This Episode: Sarah Larbi's baptism of fire in real estate investing and the tenacity that brought her to where she is now. The art of convincing a boyfriend or partner to get into real estate investing with you. What led Sarah into the BRRRR strategy and why she's using the strategy until now?  The perspective of hiring and delegating for someone who is not a handy type of a woman.  How to be a good problem solver when issues come up? Examples of real estate investing Sarah did in the past and her take on the ROI calculations. Having tenants sign a Lease Agreement to get leverage into refinancing. After Repair Value (ARV) is the basis for calculating a winner property. Important leveraging advice from Sarah Larbi. BRRRR strategy can be done on a Six-Pack unit, just under a different category. How to get a listing that's off-market?  Co-Investing and Joint Ventures does not have to be your own money. The mindset of a winner. What Sarah Larbi can tell to all the females out there with regards to their finances? Quotes: "I still think this industry is still male dominated and it's usually the other way around." "Find out why your partner, whether it's a woman or a man or whatever; find out what your partner has as reservations first and foremost and try to adjust to those." "We understood that there's ways that you can actually take some of the equity from your property to reuse." "You really have to be the expert at both buy and hold and flipping, in order to combine it to make it a great strategy." "When we first started, the issues seemed so much bigger than they would be now for the same issues." "If I don't get a call for a couple of months, I wonder what's wrong." "Every single property is going to be different." "What I bought in the past is not what you can buy now." "Even if you've done the refi and you've got all your money out, if there's equity on the property and you've held it for 2,3 years; even if you don't need it refinance, put a key lock on it. It doesn't cost you anything until you need it; but have the money ready for your next one, so that if you do see something that you want, you've got the money and you have at that point can refinance." "There's other ways to refinance, it's not always doing a cash out and pulling out the money and having a higher mortgage." "The more that you learn, the more you breathe, the more podcasts you listen to, the more investors you speak to and share ideas, the more you evolve." "Take consistent persistence and action over time. Learn, take action; learn, take action and surround yourself with people that are going to help you get where you want to be." Links: Sarah Larbi podcast - "Where SHould I Invest?" - https://sarahlarbi.com/ IGNITE event : https://tahan.ca/ignite/

For today’s episode of Real Estate Investing with Jay Conner. He will teach his viewers and listeners the step by step process of how to make a profit of $89,000 that he actually earned on his recent deal. For this specific deal, the house is located at 108 Fern Court. It’s a beautiful home over in the resort area. Jay bought this house 3 weeks ago and they are already finishing the rehab next week. First the numbers, he bought this house for $266,000, rehab $20,000. The After Repair Value (ARV) $375,000 Let us pretend that Jay did not buy this house yet. Here is the possible Maximum Allowable Offer (MAO) for this house, $300,000.00 minus repairs of $20,000 that will be a total of $280,000 for MAO. But sometimes there are also some unexpected repairs that you did not count on. So to cover this Jay always prepares a buffer of $10,000. By doing this, it will give him the most decent amount that he will pay. So the amount now that Jay would almost pay is $270,000. But how much did he actually pay? Yes, $266,000! He actually paid less than $4000 than what his formula for getting the MAO calls for. But this is not the end yet, If you want to know the full details of this deal, and want to learn how he earned $89,000 on this deal, just watch the video. If you want to learn how to get funding for your deals using private money, get on over www.JayConner.com/trial for 30 days of free access to Private Money Academy. Real Estate Cashflow Conference: https://www.jayconner.com/learnrealestate/ Free Webinar: http://bit.ly/jaymoneypodcast Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal. #RealEstate #PrivateMoney #FlipYourHouse Real Estate Cashflow Conference: https://www.jayconner.com/learnrealestate/ Free Webinar: http://bit.ly/jaymoneypodcast Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal. What is Real Estate Investing? Live Cashflow Conference https://youtu.be/QyeBbDOF4wo The Conner Marketing Group Inc.P.O. Box 1276, Morehead City, NC USA 28557 P 252-808-2927F 252-240-2504 Channel https://www.youtube.com/channel/UCZfl6O7pRhyX5R-rRuSnK6w https://www.youtube.com/c/RealEstateInvestingWithJayConner RSS Feed http://realestateinvestingdeals.mypodcastworld.com/rss2.xml Google Play https://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47y iTunes: https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034 Watch on ROKU: Roku https://my.roku.com/add/realestateinvestingRoku https://my.roku.com/add/realestateinvesting Watch on Amazon Prime: https://www.amazon.com/How-Locate-Real-Estate-Deals/dp/B07M9WNZR6/ref=sr_1_3

When do you refinance? It's a question many investors ask themself at some point in their journey. In this episode, Glenn is asked "Do I keep my money in an investment property or do I refinance?" The woman he is speaking with has a duplex in Chicago, has put in ~$200k into the unit AND there is potential to turn it into a triplex. Did we mention the After Repair Value (ARV) is $300k! What would you do in this scenario? Learn more about host Glenn Schworm:Business: https://vestorpro.com/ and https://www.homeflippingworkshop.com/Instagram @Glenn_and_Amber_Schworm  YouTubeFacebook Check out RentRedi! RentRedi.com --> https://RentRedi.comFollow us on Instagram @RentRediOfficial --> https://www.instagram.com/rentrediofficial/ Watch the episode on YouTube --> https://www.youtube.com/channel/UCyrEn2BPdf4W_NJs6GF71vA 

Don't forget to share, subscribe, comment and leave us a rating!  This episode with Marion Lee was powerful! Marion lives in California, but all 7 of his rental properties are in Virginia. In this episode, we discuss how his 9-5 skills help with real estate, raising private capital, managing his properties from across the country and much more.  Highlights People should know what you're doing. Don't be afraid to post about your real estate activities and interests. It can help you to raise money. You must be your biggest advocate and promoter There are skills in your 9-5 that can help with your real estate pursuits. You were hired at your job for a reason, so you have a translatable skill set If you invest long distance, make sure you have a good team and systems in place. Contractors, realtors etc. Cozy.co is a good platform to help manage rentals As a beginner, make sure you learn the numbers-> After Repair Value (ARV), Rehab Numbers, Refinancing etc. Your first deal will change your life, so figure out how you can get one How you can find him IG- @legacyhomesolutions Purchase his shirts Here- https://realestateapparel.co/ Show Sponsor--  @mintinc_usa http://mintinc-usa.com/   Connect with us! Buy your Black Real Estate Dialogue Tee- http://bit.ly/bredtee   Join our email list- http://bit.ly/bredlist Advertise your brand with us- https://bit.ly/bredadvertise From our Partners!  Real Estate Courses & EBooks  Deandra McDonald House Hacking Course- bit.ly/DMhousehack Deandra McDonald Landlord Life Bundle Course- bit.ly/Dlandlord The Rental Property Bundle (4 EBOOKS Included!)- https://bit.ly/RentalBundle  Side Hustles & Credit Todd Capital Vending Machine Course- https://bit.ly/toddvending  Todd Capital Options Trading Course- https://bit.ly/tcoptions2  Ultimate DIY Credit Repair Guide- http://bit.ly/ultimatecred Mobile Notary Public Course- https://bit.ly/ahnotary

Reed Goossens moved to the United States in 2012 to pursue a career in structural engineering, however he then discovered a passion for real-estate investing. With limited funds and no credit, Reed went from purchasing a small duplex to growing his own real estate investing firm, RSN Property Group. Reed now syndicates large multimillion-dollar deals across the US and certainly lives up to the “never-say-die” Aussie attitude when it comes to being a successful entrepreneur. Reed is also the host of the up-and-coming podcast, Investing in the US: An Aussie’s Guide to US Real Estate (and has recently published a book of the same title), wherein he invites other distinguished real estate investors and entrepreneurs to speak with him about their success and help guide other international investors who want to successfully invest in the US.   “The ARV (After Repair Value) was not large enough to justify how much money we ended up spending to add this third story.”   Reed Goossens    Worst investment ever ‘Networking on steroids’ typifies Aussie engineer’s view of first real estate event in US Reed moved the United States in early 2012 and was without a job, so he took the brave move of walking the streets of New York City to visit every engineering firm he could find, with his portfolio in hand and saying, “Hey, give me a job!” He quotes Tony Robbins, who says: “One ‘yes’ will change your life”. And it did. He looked at medium-sized firms, and admiring his spirit, one actually did employ him. Within two weeks of moving to the US, he was at his first real estate networking event, and he realized the Americans were on a different level than he was coming from Australia. He called the US experience “networking on steroids”. Learning about US property Realizing he had much to learn in his new home country, he spent the next six months doing just that. He realized quickly however how low the barriers to entry to the property market are in the US compared to those in in Australia, in that he could go out and buy a property for US$38,000. He was amazed, stating that you could never buy in Australia for under around $250,000-$300,000. He visited upstate New York and bought a number of properties but quickly ran out of his own money and banks were shy about lending to this new arrival. So he found a partner, and with him, started looking at properties in Philadelphia, as he wanted to try his hand at flipping houses. He was confident he could do so as a chartered structural engineer who had worked on many ground-up developments, including the London 2012 Olympic Games site. Reed finds a partner and they buy a row house in Philadelphia to flip So, he and his business partner bought an early 1900s two-story row house in Philadelphia for $110,000. Their goal was to add a story to match adjacent houses and make this row house similar to others in the city and those in New York, and thereby add value to the property. Reed did all the structural engineering drawings and they hired a general contractor (GC). Contractor’s thievery and other horrors make for a lengthy and costly project And here Reed explains the two main problems with the investment. The story he said is a very good lesson in After Repair Value (ARV) and underestimating the cost of carrying out the renovations. In the end, the ARV was not large enough to justify the amount of funds they ended up spending to add the third story. Combine that with shoddy GC work – the general contractor stole materials from them and Reed had to take over the GC work himself and handle all the subcontractors. There were other problems on the mechanical, planning and electrical sides, as the original GC had cut corners and sealed walls before the city had inspected plumbing and electrical wiring. They even found some of their stolen materials at project site a few streets from the house, as they had been networking and were invited onto another developer’s project site. Extra pressure hovers nearby as investor’s father is also involved The situation was also riding on some emotional issues. Reed’s father was also invested in their project and it was Reed’s first foray into syndication. They all thought the build was only going to take around six or seven months, but it ended up taking about a year. And they were holding it the more spending was happening on the debt, the soft costs, and just really having to try to get it out of a hole. One of the subcontractors also ended up being jailed over a bar fight. So, suffice to say, a lot went wrong. At the same time, Reed was trying to move to Los Angeles to be with his girlfriend, who was from there, and his business partner stayed to finish the job. Heart of the loss was how much the home would be worth after repairs The summary though was this and Reed points out the heart of the problem was in the ARV. They bought the house for $110,000, spent about $220,000 or $230,000 on it and sold it for only $375,000. Reed did take care of his father, and kept the promiser of a 15% gain on his investment. Personally, Reed took a loss of about $40,000, or he calls it a $40,000 lesson. He opines that if the ARV was going to be worth $500,000, they would have been very happy. Quick sale but investor takes $40k hit In the end, the house sold within 30 days, which showed there were no issues with what they produced but it just took six months too long. From the time they started looking at the property to the time that they exited and got paid, it was a full 18 months. Some lessons Never overestimate your After Repair Value. On paper everything can look great, but excessive time taken in undertaking renovations can eat into the ARV. Do a lot of research on all possible hidden costs. These can take the form of regulatory issues, materials, builder errors, and contractor overruns. Ensure you work with the right people. Obviously, try not to work with thieves, but build a great team around you, a team you can trust. Never underestimate the value of time and timing the market.   Andrew’s takeaways Opportunity cost can have a massive impact. Reed was drawn into a project that became much deeper and expensive in time than he had expected. He could have been working on another deal or bringing in revenue from some other sources. It’s very hard to estimate what can go wrong. But that is part of risk management. And then Andrew discusses My Worst Investment Ever’s six common mistakes, particularly in reference to No. 2, failed to properly assess and manage risk. But also Andrew argued that sometimes we can do all we can and things can still go wrong. Collated from Andrew’s My Worst Investment Ever series, the six main categories of mistakes made by interviewees, starting from the most common, are:    Failed to do their own research   Failed to properly assess and manage risk   Were driven by emotion or flawed thinking   Misplaced trust   Failed to monitor their investment   Invested in a start-up company  Anomalies can scare us. They can also be misleading and some people get scared out of investing completely. But don’t build your career and investments around these anomalies. These will often happen and there’s not much we can plan to avoid them.   Actionable advice Partner with the right people. Your team is everything. Making sure you have the right team around you, who have done it before, can go a long way toward avoiding such risks.   No. 1 goal for next the 12 months In terms of investing, Reed would like to close on another 1,000 units in the United States. On the personal side, he would like to travel more and spend a lot more time on business development, podcasting, book launches, which is the type of activities he is growing to love.   Parting words “A fool and their money are easily parted. So don’t be that fool.” What that really means to Reed is he recommends getting out there be educated, learn from other people’s mistakes, but at some point in your life, you’re going to have to take action. Invest in yourself first and foremost, and get yourself knowledgeable about whatever investment strategy you’re going into, whether it be stocks, bonds, mutual funds, investments, real estate investments, and be knowledgeable before you pull that trigger.   You can also check out Andrew’s books How to Start Building Your Wealth Investing in the Stock Market My Worst Investment Ever 9 Valuation Mistakes and How to Avoid Them Transform Your Business with Dr.Deming’s 14 Points    Connect with Reed Goossens LinkedIn Website (business) Website (personal) Blog Twitter Facebook Pinterest YouTube Email Phone: +13235191111 Connect with Andrew Stotz astotz.com  LinkedIn Facebook  Instagram Twitter  YouTube My Worst Investment Ever Podcast  Further reading mentioned Reed Goossens (2018) Investing in the US: The Ultimate Guide to US Real Estate

On this podcast episode I talk about how to calculate the After Repair Value (ARV), so that you can know how much to offer on a property. Most new investors, and a fair amount of seasoned investors make the mistake of using common tools like Zillow, the MLS, and the Property Appraiser Website to estimate what a house is worth. On this podcast I talk about why that is a mistake and how that mistake can cost you a lot of deals (and a lot of money). I use as an example, a house that I just purchased last week from a wholesaler. I paid $105,000 for this house and the wholesaler purchased it for $90,000. According to most online estimates on sites like Redfin, Zillow, Movoto and Trulia the house is worth around $125,000. However the real ARV on this house is probably more like $165,000. I explain to you in detail how I came up with that number by showing you how I use the MLS to see what is for sale right now and how a first time home buyer with an FHA mortgage thinks. Using the wrong tools, or not having complete access to tools like a good comparable sales report (which is not free) can create a situation where you rely on sites like Zillow, the property appraiser and the MLS for comps and to estimate ARV. While that may work (more or less) sometimes - it won't work all the time. Those sites can, and will, throw you astray. You will not always get accurate numbers if you use these sites to estimate ARV. Having access to the MLS, and a good comparable sales report (we use Title Pro), plus doing the work in understanding your market, what sold, and what is listed for sale, can be the difference between being way off, or spot on when it comes to estimating the ARV. This is one of the most important (and overlooked) topics for new investors. And that is one of the main reasons that I focus on it so much in our training's. Knowing how to make money out of deals that other people pass on is my specialty. I buy awsome deals every day from wholesalers that other investors pass on. And you want to know why? Because they are not dialed into the ARV. If you learn how to really know your comps, your market, and your ARV's, then you will see how you will make a lot more money as a real estate investor. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about how to calculate the After Repair Value (ARV), so that you can know how much to offer on a property. Most new investors, and a fair amount of seasoned investors make the mistake of using common tools like Zillow, the MLS, and the Property Appraiser Website to estimate what a house is worth. On this podcast I talk about why that is a mistake and how that mistake can cost you a lot of deals (and a lot of money). I use as an example, a house that I just purchased last week from a wholesaler. I paid $105,000 for this house and the wholesaler purchased it for $90,000. According to most online estimates on sites like Redfin, Zillow, Movoto and Trulia the house is worth around $125,000. However the real ARV on this house is probably more like $165,000. I explain to you in detail how I came up with that number by showing you how I use the MLS to see what is for sale right now and how a first time home buyer with an FHA mortgage thinks. Using the wrong tools, or not having complete access to tools like a good comparable sales report (which is not free) can create a situation where you rely on sites like Zillow, the property appraiser and the MLS for comps and to estimate ARV. While that may work (more or less) sometimes - it won't work all the time. Those sites can, and will, throw you astray. You will not always get accurate numbers if you use these sites to estimate ARV. Having access to the MLS, and a good comparable sales report (we use Title Pro), plus doing the work in understanding your market, what sold, and what is listed for sale, can be the difference between being way off, or spot on when it comes to estimating the ARV. This is one of the most important (and overlooked) topics for new investors. And that is one of the main reasons that I focus on it so much in our training's. Knowing how to make money out of deals that other people pass on is my specialty. I buy awsome deals every day from wholesalers that other investors pass on. And you want to know why? Because they are not dialed into the ARV. If you learn how to really know your comps, your market, and your ARV's, then you will see how you will make a lot more money as a real estate investor. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

Robert Mulcahy, with Angel Oak Prime Bridge, is on the show to discuss a multitude of things concerning borrowing and lending. Robert is an expert with years of experience and talks Abhi through how one would present themselves when asking to borrow. He provides research resources, educational resources and how you, too, can be an expert! Like most all forms of real estate investment, it’s all about the networking and getting to know people who have the same interests, whether you like networking or not. He gives great advice for who to talk to and how you can get your foot in the door. Networking and having boots on the ground is the best thing you could do for yourself! After Repair Value (ARV) is so important to understand in relation to investment property and Robert wants to explain just why. Don’t let it confuse you with all the abbreviations and different numbers, Robert is here to simplify things for us. Tune in now to hear everything he has to say. To learn more about Robert and Angel Oak Prime Bridge visit AngelOakPrimeBridge.com today!

On this podcast I talk about the Buy, Repair, Rent and Refinance strategy which is often referred to as BRRR. The concept behind the buy, repair, rent and refinance strategy is that if you can find deals at 75% or less of the After Repair Value (ARV), you can essentially be doing no money down deals because you will get your money back when you refinance. You will then be able to use that same money to buy your next property. When you refinance the property and get your money back then you are essentially in your first deal for no money down. At this point you can use the same funds to buy the second property and then repair, rent and refinance that one too. You can do this for your first ten rental properties. What makes this strategy even more appealing is when you borrow the funds from a private lender to purchase the property. Once you do this once, you will realize the only thing stopping you from buying unlimited properties is having more private lenders. When you have multiple private lenders you will get to a point where your main dilemma won't be finding capital but finding houses. And that is where your growth will happen. That is what will take you from a small business making $10,000 or $20,000 a month to a business that can make $200,000 a month (or more). The key is to constantly be marketing to motivated sellers. Many beginners think that not having access to capital is what holds them back. It's not. What is holding them back is learning how to find good wholesale deals at wholesale prices that are less than 75% of market value. And the way you find many of those deals is from motivated sellers (and also short sales and bank owned properties. If you buy a few properties a year using this strategy, you can substantially increase your income, net worth and cash flow. Buy and hold a few properties a year and in just 10 years you will have a very substantial net worth! If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast I talk about the Buy, Repair, Rent and Refinance strategy which is often referred to as BRRR. The concept behind the buy, repair, rent and refinance strategy is that if you can find deals at 75% or less of the After Repair Value (ARV), you can essentially be doing no money down deals because you will get your money back when you refinance. You will then be able to use that same money to buy your next property. When you refinance the property and get your money back then you are essentially in your first deal for no money down. At this point you can use the same funds to buy the second property and then repair, rent and refinance that one too. You can do this for your first ten rental properties. What makes this strategy even more appealing is when you borrow the funds from a private lender to purchase the property. Once you do this once, you will realize the only thing stopping you from buying unlimited properties is having more private lenders. When you have multiple private lenders you will get to a point where your main dilemma won't be finding capital but finding houses. And that is where your growth will happen. That is what will take you from a small business making $10,000 or $20,000 a month to a business that can make $200,000 a month (or more). The key is to constantly be marketing to motivated sellers. Many beginners think that not having access to capital is what holds them back. It's not. What is holding them back is learning how to find good wholesale deals at wholesale prices that are less than 75% of market value. And the way you find many of those deals is from motivated sellers (and also short sales and bank owned properties. If you buy a few properties a year using this strategy, you can substantially increase your income, net worth and cash flow. Buy and hold a few properties a year and in just 10 years you will have a very substantial net worth! If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about buying houses with no money down. One of the easiest ways that I know to explain "no money down" deals is to give you a real life example of my first no money down house that I purchased. The house that I am talking about on today's podcast was a house that I estimated had an After Repair Value (ARV) of $120,000. The house was offered to me by my mentor (who got it from a wholesaler). The purchase price was $50,000 which included all of the wholesalers fees. The house had a significant amount of water damage from Hurricane Frances and needed around $25,000 in repairs. I purchased this house with a $50,000 loan from my mentor's partners dad. I borrowed the $25,000 for repairs from my friend Darryl's mom. After repairing this house (using my mentor's crew) I rented out the front house for $1,200 and I rented the back unit efficiency for $600 (total $1,800 per month). I went to my mortgage broker Warren to refinance the house. The house appraised for $163,000 and after paying off my lenders I received $39,000 on the cash out refinance. I used that money as a down payment to purchase my primary residence in Boca Raton (I still own that house). Remember this, if you can buy houses and your "all in cost" (purchase plus repairs plus fees) is less than 80% of what the house would appraise for, then you too can buy houses with no money down. The trick is - how to find these houses. My Home Study Course that I give to all of my Partnership Program Students starts out with the first 10 houses that I purchased (all with no money down). This house that I am talking about on today's podcast is house number one in my Home Study Course. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On this podcast episode I talk about buying houses with no money down. One of the easiest ways that I know to explain "no money down" deals is to give you a real life example of my first no money down house that I purchased. The house that I am talking about on today's podcast was a house that I estimated had an After Repair Value (ARV) of $120,000. The house was offered to me by my mentor (who got it from a wholesaler). The purchase price was $50,000 which included all of the wholesalers fees. The house had a significant amount of water damage from Hurricane Frances and needed around $25,000 in repairs. I purchased this house with a $50,000 loan from my mentor's partners dad. I borrowed the $25,000 for repairs from my friend Darryl's mom. After repairing this house (using my mentor's crew) I rented out the front house for $1,200 and I rented the back unit efficiency for $600 (total $1,800 per month). I went to my mortgage broker Warren to refinance the house. The house appraised for $163,000 and after paying off my lenders I received $39,000 on the cash out refinance. I used that money as a down payment to purchase my primary residence in Boca Raton (I still own that house). Remember this, if you can buy houses and your "all in cost" (purchase plus repairs plus fees) is less than 80% of what the house would appraise for, then you too can buy houses with no money down. The trick is - how to find these houses. My Home Study Course that I give to all of my Partnership Program Students starts out with the first 10 houses that I purchased (all with no money down). This house that I am talking about on today's podcast is house number one in my Home Study Course. If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

The question that Zack Childress poses in every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer. We’re talking about flipping properties today. There’s money in fix and flips, and it can be made in up or down markets. Hire a contractor to fix up the houses. Your job is to manage the contractor and make money. Mistake 1: Flippers aren’t good at determining After Repair Value (ARV). Being wrong takes money off the house’s sales price right out of the gate. Mistakes 2 and 3: Listen to Zack and find out. Knowing how to make money with flipping is valuable stuff. There are many facets to it… many ways to make good and many ways to screw up. Build up cash reserves by wholesaling in a good market, so you’ll be ready to buy fixer-uppers when the market takes a turn. “Follow the direction of a successful investor. That’s how things get changed.”

On the previous podcast episode (Wholesaling Real Estate Part 1) I spoke about the three things that you need in order to wholesale a property which were: 1. having a property to flip 2. having a cash buyer to flip the house to 3. having the money to fund the flip On this podcast episode (part 2) I am following up on part 1 and digging deeper into the first item in the list above which is learning how to find a property and evaluate a property in order to have a house to flip to another investor. This is the essence of wholesaling. You can have the best web site and tons of leads but if you don't know how to evaluate what a property is worth and how much you can flip it for then you will be constantly facing an uphill battle. In my opinion this is what happens to the majority of new wholesalers who focus on lead generation and websites before understanding the basic fundamentals. In order to flip a property to a cash investor, you will need to know what the house is worth retail, completely fixed up for sale to an end buyer. We call this After Repair Value or ARV. In order to establish ARV you need to have access to and know how to interpret the comparable sales. And then finally you would need to know what it would cost to fix the house up (this is called the repair estimate). To summarize, in order to make offers on properties you need to know: 1. After Repair Value (ARV) 2. Comparable Sales 3. Repair Estimates It is much more difficult to flip houses when you don't know what it would cost to repair the house or have an accurate ARV. You need this information in order to be able to talk intelligently with other wholesalers and cash investors that are looking for wholesale deals. I always tell new investors that want to learn how to wholesale to focus on action steps that put money in their bank account. If you can learn how to identify a wholesale deal then the money will follow since finding cash buyers or the money to fund your flips is not the difficult part. The part that is most challenging for beginners to wholesaling is learning how to identify great deals, knowing which properties to make offers on and how much to offer. Enjoy the podcast If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

On the previous podcast episode (Wholesaling Real Estate Part 1) I spoke about the three things that you need in order to wholesale a property which were: 1. having a property to flip 2. having a cash buyer to flip the house to 3. having the money to fund the flip On this podcast episode (part 2) I am following up on part 1 and digging deeper into the first item in the list above which is learning how to find a property and evaluate a property in order to have a house to flip to another investor. This is the essence of wholesaling. You can have the best web site and tons of leads but if you don't know how to evaluate what a property is worth and how much you can flip it for then you will be constantly facing an uphill battle. In my opinion this is what happens to the majority of new wholesalers who focus on lead generation and websites before understanding the basic fundamentals. In order to flip a property to a cash investor, you will need to know what the house is worth retail, completely fixed up for sale to an end buyer. We call this After Repair Value or ARV. In order to establish ARV you need to have access to and know how to interpret the comparable sales. And then finally you would need to know what it would cost to fix the house up (this is called the repair estimate). To summarize, in order to make offers on properties you need to know: 1. After Repair Value (ARV) 2. Comparable Sales 3. Repair Estimates It is much more difficult to flip houses when you don't know what it would cost to repair the house or have an accurate ARV. You need this information in order to be able to talk intelligently with other wholesalers and cash investors that are looking for wholesale deals. I always tell new investors that want to learn how to wholesale to focus on action steps that put money in their bank account. If you can learn how to identify a wholesale deal then the money will follow since finding cash buyers or the money to fund your flips is not the difficult part. The part that is most challenging for beginners to wholesaling is learning how to identify great deals, knowing which properties to make offers on and how much to offer. Enjoy the podcast If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com