MY ADVICE FOR GETTING INTO HOUSE FLIPPING
So… you’re interested in flipping real estate? Well, what’s holding you back? Not enough money to start? Maybe you don’t know enough about real estate?
Listen: You DON’T need any of those things to start.
And I would know— because when I got into flipping real estate, I was $100,000 in debt and the only real estate knowledge I had was from watching those house flipping TV shows—you know… kind of like “Flip or Flop.”
But did I let that stop me? No. I faced my fears, did what people said I was crazy to do, and fought all those odds that were stacked up against me. And you know what? It worked. Over the next 8 years I ended up flipping over 600 houses, selling over $142 million in real estate, and paid off every cent of my debt. And those numbers are still going up. Well, except for the debt.
Since then, I’ve coached people to flip houses successfully. And you know what I’ve noticed? I noticed there’s a common problem they come to me with…in fact, it’s the problem holding most people back from getting into flipping real estate— and until they fix the problem, they’re stuck. If you’re reading this, it’s probably holding you back too.
I’m talking about your MINDSET and PERCEPTIONS.
If you’re serious about flipping real estate, then you NEED to change your mindset and your perception of what’s possible. If you don’t, you’re limiting your potential. In this post, you’re going to learn about 3 things you THOUGHT you needed to flip real estate (but you don’t). You’ll also learn 3 things you absolutely DO need.
Anyway, lets get started.
Here are 3 Things you DON’T Need to Start Flipping Real Estate
#1 – Money
You probably think you need tons of money to start flipping real estate— but here’s the truth: you don’t. I came from an extremely poor family and when I started getting into flipping real estate I was $100,000 in debt.
Really stop and think about that. Have you ever been $100,000 in debt? Can you even imagine it? Realize that you’re probably in a better financial situation to flip houses than I was. And If you’re not buried in debt, stay that way.
By the way, when I flip houses, I rarely use my own money (though I could). I usually use other people’s money (OPM) to fund my projects— which you should be doing too.
#2 – Formal Education and/or Real Estate Knowledge
Another thing you probably think you need is real estate knowledge or some kind of fancy degree from a nice college.
You don’t.
I had NONE of those things when I started. Here’s the education I had when I started:
I watched a few reality TV shows on house flipping (but they don’t even show you the REAL makings of a real estate deal)
I had a high school education—I dropped out in 10th grade.
And if you’re still not convinced, listen to this: I’ve been diagnosed with dyslexia and ADD. Even if I wanted to go back to school to learn, I’d have a hard time learning—a REALLY hard time. Do I think having real estate knowledge or formal education would help? Yes. Do I think you need previous knowledge or a formal education to start flipping houses? NO.
#3 – An Ideal Life Situation
You know what’s one of the best things about real estate flipping? It doesn’t judge you about what you’ve done in the past and what your life is like right now.
Remember how I said I was in $100,000 in debt at age 30? Well, that wasn’t the only handicap I had. I also had a criminal record. I was convicted and thrown in jail when I was 18.
Can you imagine how hard it would’ve been to find an employer willing to give me a chance? A guy $100,000 in debt with a criminal record? I can’t imagine it either.
But with flipping real estate, everyone gets a fair chance. Because you’re your own boss, as long as you work hard and work smart, you can succeed—regardless of your past.
Now that I’ve told you what you DON’T need to get into real estate flipping…
Here are 3 Things you DO Need to Start Flipping Real Estate
#1 – An Appetite for Hard Work and Learning
Finding, setting up, and closing real estate deals comes to me naturally now—but this wasn’t always the case.
I spent my first year getting into real estate flipping doing nothing but learning about real estate negotiations and marketing. Day in. Day out.
I paid my dues to get to where I am. And if you want to be successful in flipping real estate (and just anything really), you’re going to have to pay these dues too.
Though real estate is almost second nature to me now, I’m still learning more everyday. The learning never really stops.
#2 – The Willingness to Take 100% Responsibility
If you were to ask me about my jail experience, you would think I’d probably tell you it was a horrible thing and I would never want to experience it again…
… but thinking back, because it set my self-improvement in motion, it was almost a blessing in disguise.
See, I wasted months in jail feeling sorry for myself and blaming other people for my problems. Anyway, I don’t remember what happened… but one day—as I was sitting in my cell—a huge revelation hit me: I WAS ALWAYS IN CHARGE OF MY ACTIONS.
Once I realized this and took this to heart, my life changed forever—for the better.
Try it. Ask yourself what you haven’t been taking responsibility for. Ask yourself what you can do to change things. Start taking responsibility for your life and your actions and see how your life starts to change too.
#3 – Time
I didn’t buy and sell over $142 million in real estate in just 3 months. No. It took 8 years. But you know what? I’m proud of that. And unlike other gurus, I want to keep it real with you. I’m not going to make it sound like you’ll start flipping houses overnight. It’s impossible.
Getting results takes time. But if you’re willing to put in the time, I guarantee you, your results can be extraordinary—you might even surprise yourself!
If you’ve been thinking about whether you should get into real estate flipping but think you don’t have the right resources or background to do it, ask yourself these questions:
Are you 100k in debt?
Do you have a criminal record?
Are you a High School Drop-out?
If you answered ‘no’ to any of those questions above, then guess what? You’re already in a better situation to start flipping real estate than I was!
So what are you waiting for? The time will never be just right to start— JUST GET OUT THERE, FACE YOUR FEARS, AND GET SOME EXPERIENCE.
One of two things will happen when you start:
New doors will open for you and you’ll be on your way to achieve what you want in life—and more
You’ll find out you hate the business and NEVER suffer with regret, constantly thinking “what could’ve happened if I tried flipping real estate”
Just jump in. You’ll thank me later.
If you want to learn more about house flipping, check out my free House Flipping Blueprint, where I show you how to find, fund, renovate, and sell your first deal.