Yeah, no problem you are a real estate millionaire yeah Wow by some standards some of you I don’t have like a million dollars in the bank but assets net worth. Yeah, okay I met Igor through The airport. Yeah, we met with like randomly like two weeks or no like a week you like a week.
Yeah just going home from LAX at the Chicago Airport and just got to talking and he told me flipped houses and I thought that was really interesting so yeah it’s all real estate pretty much all real estate.
Real Estate Millionaire
It’s pretty much like you know just single-family homes for the most part buying fixing them up and resale and I’m like, you know Like the TV shows. Okay. So, how do you flip the house? I mean the way that I got into it was like the kind of no money down, whatever that t you know, You’ll hear like on
the radio or on YouTube like okay I know the stuff people it’s called wholesaling that people like always advertise you can make money without having any money in real You’re going to discover how to flip houses using no money down strategies So that’s like super hard cut you’re trying to basically like buy a house and flip
It without having any money Okay first it’s hard. But I mean if you’ve got the money it’s you know, so how much does someone need to start doing it? Like I mean it varies you could do it with zero down if you have a lot of time and you can just devote like Okay, it took me
like six months of like full-time working Trying to put a deal together to get my first deal and make like four grand I made on my first deal with So that’s like not even okay, so Walk me through the steps you go and you want to get a house So then so you see the house and what’s one of the next steps like with my business?
It’s a little it’s like my business is kind of difficult because we’re getting super discounted properties. So I’ve got like a call center where you know we’re calling pre-foreclosures or like people that are behind on their taxes and stuff like that and we’re just doing tons of calls and Then you know go on the appointment see the house depending on what it looks like make an offer Buy it Fix it up
And then resell it so there’s like kind of a lot of moving parts, but I’m good it’s simple like in the steps that you have to do. Then you buy it and like nobody wants to buy it I’ve lost a little bit of money on deals like that, but I’m a normal flip deal like
I mean I haven’t lost money on a deal more recently Just because I’m buying them with enough room in there to like make sure if I’m you know Screw something up and when it’s like a four hundred thousand dollar house and you’re buying it for like 280 or something There’s a lot more room to not screw up
whether we’re you Whereas like if you’re buying a house for 8 grand in the hood in Chicago Yeah, like it’s hard to find someone that wants to buy that for more than it can you know, okay, so I see a house It’s a jinker. I buy it Fix it up and then sell it for 50 grand.
Yeah Well, those seals like that’s not really because I mean it’s the same amount of work to buy a house for three hundred thousand But 50 into it and sell for five-fifty and make a hundred grand Mom, then it is to do a house for 10 grand put ten into itself or fifty and make twenty,
You know, okay like how many hours a week? You say I’m like pretty right now I’m not working like 12 hours a day. I work probably within the single-family Flipping like my flipping business. I probably work like two-three hours a day.
Mm um, and it’s just like You know with like my office manager or whatever Like they have questions for me or like going over numbers on some properties and you’re the very top, Yeah So I’m like I own it and then we have I have an office in Denver and an office in Florida where I have
Like a small team in each one of them, that’s going on all the appointments and like cold calling and Managing the contractors and stuff cold calling. So, I mean we’ve got like people that create lists and we’re calling you to know pretty foreclosures like people that are getting divorced or like people that are behind
On taxes people that like we might have some sort of Motivation to sell their house for a discount, you know, whoa so we’re calling that stuff. And then we also just call like we say I used to have a lot more people cold calling and we just had like a blank.
Every single person in the state of Florida trying to buy their house. So we’re just like hey, we’re buying houses. No Thank you buy just like yeah like a thousand people a day I’m trapped. You’re never going to get your license I Wouldn’t say never but like I don’t really need to I wouldn’t want to be cut like the license side of it
was like, you know Real estate sales, like I don’t want to go like show houses and like try to like sell them And yeah, I just like running the man But like that’s a good I would be to do it again I would get my real estate license and start with that like when I was
17, it’s well I guess I couldn’t cut in Chicago to be 21 to get your real estate license I live in a fog, but what’s the most money Uh 140 grand how much was the house?
For more articles.