We are exploring short term rentals, AirBnB, VRBO, and other options with Brian Page of the BnB formula.
Transcript
[0:00] Music.
[0:16] America the show that teaches you how to make money in real estate wherever you are whatever your situation there is an opportunity for you flipping America is sponsored in part by American IRA
founded by investors for investors on the web at American Ira. Com.
And by Braswell Capital Solutions commercial lending made easy on the web at Braswell Capital Solutions. Com,
and now you’re sad flipping America guy Rodger Blankenship.
Happy New Year to you I don’t know if I said that yet but I’m so glad that you’re still a part of what we’re doing here at flipping America as we sat down,
prior to the beginning of the year but take a look at the changing real estate landscape and I’m going to say some more about that in a few minutes but
just to make our plans for the coming year you know the principles behind real estate
investing never change but the opportunities fairy with the times and there’s an ebb and flow to this I’m talking about.
[1:21] Tactics and locations locations may work well for a while then they’ll dry up I mean when you breed all the houses in an area,
bisa move on go somewhere else.
[1:32] Ben first discovered yield great results and then everyone hears about it the market becomes efficient and the opportunity for the unusually high numbers Fades away and so rather than continue to pound pound pound pound Pound in the same area
and make and get less and less results it’s time to you don’t have to get really creative
you just need to look for opportunities in a different direction maybe it’s tangential and strategy maybe it’s
different in geography but one way or another you have to look okay so I hear a lot of great ideas and techniques on the show and frankly.
Almost every week I’m tempted to pursue some new wonderful idea that someone else is doing but I had to decide early on and my broadcasting career and and talk and all the the.
Really great investors that are out there I just need to stay in my Lane figure out what I’m good at.
And do that while I celebrate the success of others in their work and.
[2:36] Funeral for those of us that were brought up in competitive environments celebrating the success of others is not necessarily something that we were brought up to do I think maybe the today’s generation is a little bit more open to that we want to compete we want to win
but I do believe that in a true free market and capitalistic economy.
Wealth can be created it is not a zero-sum game and when one person Prosper is it doesn’t mean that I cannot.
And so let’s celebrate the success of others and their work applaud their terrific ideas and find ways that we also can create opportunity for ourselves.
And bring a blessing and goodness to other people around us so we decided for 2019.
To add a couple of strategies to the work that we’re doing here.
[3:25] 1 is the low priced how strategy we kind of stumbled into this late last year and it looks like it has real potential and I’m
I’m really stoked about the kinds of returns it’s not big flashing numbers but it’s steady very solid returns and
frankly better returns than we can get in the standard rental market.
No I know that you’re going to own these houses for you going to get the cash flow from each individual individual house for less than 10 years and so you have to be adding to your inventory all the time but.
It seems to be an endless supply of these low price houses that’s what we’ve seen so far all right so now we talked about the low priced how strategy on a different show and
I’m not going to say a whole lot about that here you can be no get on the app that if you haven’t downloaded the app download the flipping America app and just look for the inexpensive houses show that it’s searchable.
Okay the other strategy that has really intrigued me is the Airbnb strategy which is the subject of Today Show.
When I first you know I’ve told you this before I got a question about I don’t know year and a half ago about.
Vacation homes and so forth in at that time I had looked into it but I looked into it probably to you three years before that the idea of.
Owning a vacation home is appealing but finding a way to may be rented out when we’re not there to help pay the bills maybe make the Morgan make a little money.
[4:54] What I discovered a few years back is you can’t really make enough money to pay for it but you can also get some of your expenses by using you know something like VRBO or Arduino just local Services well.
[5:08] In the last few years Air B&B has come on the scene and they have taken over the space and they have created an opportunity.
Out of one that only halfway existed before.
The air B&B strategy or the short term rental strategy is now a way that you my friends can make a six-figure income without controlling or owning any of the property.
You control them in the sense that you may have at least but you don’t own them.
[5:38] We went looking for someone who has a strong resume for training in this area and we found Brian page.
Brian is going to join us just a few minutes after the next break and Brian is an interesting story.
He has flipped a hundred houses he’s a Fix and Flip guy that’s his background draining but he went through the crash in the mid-2000s
and I guess Brian is a little bit more Innovative thinker than I am cuz during the crash years when we really made most of our money to be honest cuz we can buy the houses so cheap but during this time Bryan set out to find a new way to earn income from Real Estate.
Starting all over he launched his own profitable Airbnb Business Without debt mortgages or the need to own the properties.
[6:21] Today Brian has taught thousands of people from 31 countries around the world how to get started using Airbnb.
[6:31] He tells me he usually charges $10,000 to work with clients one-on-one and that’s probably cheap
you know I charge fifteen thousand so.
I never even talked about that I don’t even know why I brought that up because I’m I’m not really trying to sell that but anyway.
He did he’s got this webinar that he does where he reveals the secrets that he shares with his clients in his $10,000 mentary this free training classes.
Nothing held back look at exactly how Brian was able to use the other people’s properties.
As his own Airbnb listings you can talk about that a little bit on the show coming up but he’s going to show you
how you can do what he did and build your own wildly profitable Airbnb business
so we’re going to interview in in a few minutes and then we’re going to do a webinar and I scheduled it for Thursday January 31st Thursday January 31st we’re going to be thinking 7 Eastern Time.
[7:31] So hopefully they’ll see on the west coast be able to join us
7:00 eastern time we’re still putting that together but we’re looking at Thursday January 31st 7 eastern time and he’s going to show you how you can build your own wildly profitable Airbnb business
Brian going to show you exactly how to get started and why it is a win-win for both you and the property owners.
If you are the owner property you could turn it into a lucrative being beat you can learn how to locate profitable listings why properties are in so much more on Airbnb and now you can do your very first listing.
In less than 60 days all right so Brian is coming up in just a few minutes and and I’m really excited to bring this interview to you and to introduce him
to you my friends in the flipping America audience and I hope that you’ll join us on the 31st for this webinar because I’m excited about it and I want to learn how I am.
Going to be a student of Brian page already am kind of alright so let’s talk a little bit about how to get in touch with us here at flipping America
the website is flipping America network.com and when you hit the flipping America network.com as of today you were doing a soft roll out on The Flipping America Network that is the fan you can join the fan
you know it here’s the thing and I I I I really like.
[8:52] Being involved in the strategy session calls for the last few weeks I’ve taken every one of them that’s coming in his keeping the boys keeping me hopping my schedule is full with the strategy calls you see when you’re on
our website at the top of the page there’s a blue button you can.
[9:08] And you can schedule a free strategy call with one of our advisers but for the last couple of weeks since the first of the year I have been taking all of the strategy calls myself just for the fun of it.
And the reaction of some of you is priceless and truly I’m deeply honored at your reaction because some people are.
[9:29] Happy and excited to talk with me that always amazes my wife because she gets talk to me everyday but some of you also are.
Just so kind in the words that you say and and thank you because we are doing all we can to pour.
Information and knowledge into your lives and the strategy calls themself are designed just to serve your needs to help you figure out where you are and what you have available to you in terms of time resources money skills and suffered put that together in a strategy that will help
direct you toward your goals it’s a free call it’s not a sales call it’s just a strategy called.
Anyway in doing these calls I have enjoyed this time together but you know I can’t do it forever and so one of the things.
[10:20] That we thought about is in a week would you my friends be willing to say buy me lunch
and pick my brain if you could pick my brain for 20-30 minutes would you buy me lunch that’s the idea behind the fan premium it’s $9.67
a month for you to get inside my brain two to four times a month with a unique recording or blog article or,
or technique or maybe all of the above that goes only to those who are in the fan premium and there’s there’s another part to the frame Premium Too
you get a look inside of my brain because you know there’s more to me than real estate and there are other things that I think about I don’t talk about it much
but people ask me questions what you think about this or that and sometimes I’ll share those things but.
Most of the time I don’t however I’m a little bit more open with our fan premium members including but not limited to sharing with you the books that I’m reading.
[11:16] I try to read a book or two every week don’t always succeed but if I read something good I’ll let you know and if it’s not so good I’ll let you know that too
and you know I was at a lunch meeting earlier this week at a young man walked up to me and said that he had heard me recommend
emits Mastery and he had just finished reading and he said it changed his life and that’s great I’m I’m glad I didn’t have anything to do changes life Brian Gerber did but I am glad that I was there as the conduit
and so this is an opportunity for you to access a little bit more of me and is 967 a month and I hope you’ll join because you’re so,
helps us to expand our reach to the the money that comes from this we hope to use to expand into other stations and to one of our goals this year is to grow to a number of other broadcast Partners around the country.
[12:11] So that’s there and I can tell you that coming up this is just your free advanced warning coming up launching.
First quarter and it may be within the next 30 days
the fan investor Network the flipping America Network you’ll have a chance to basically it’s going to become a buy-sell
Trade Network where you can look for your next deal on what we call the fan flipping America Network.
Wholesalers we able to post their deals.
Rehabbers will be able to look for their deals or even going to have a way that you can reserve your own ZIP code this is exciting stuff we’ve been working on this behind the scenes for quite a while I think today is the first day that I’m actually mentioning it
and I hope I’m not premature but this platform is rolling out I mean we’re progressing we’re near the Finish Line folks that’s why I’m mentioning it so I get on over to flipping America network.com and check it out
if you have questions about real estates in the questions at flipping America net worth,
how come it can be investing or just real estate in general questions are flipping America network.com we answer all the questions that music means we got a break.
[13:20] Music.
[13:32] Have you ever seen one of those Fix and Flip TV shows and thought to yourself I could do that or even better I’d like to do that.
But there has to be a way to get started that’s what we will do for you at flip starter flip starter is our 8-hour course designed to give you all the information you need in order to get started in the business of fixing and flipping houses on Roger Blankenship.
The flipping America guy who has fixed and flipped more than 800 properties over the years.
I will share with you the tools I develop for use in my own business the strategies the management techniques and the systems are used to build a business that was flipping 100 properties per year.
[14:08] What would it feel like if you could quit your job and not only work for yourself but own a business that will ultimately provide you with more income and more free time.
[14:18] My goal is to train the next generation of real estate Millionaires and I want you to be one of them.
Find out more at flip starter event. Com call Bennett and I tended Roger Blankenship split starter in April of 2018.
I thought it was amazing I put pages and pages of note and I just want to recommend that you go to it because in my opinion.
Dish Nation that he gets on contractors alone makes it worth the price but that’s not the only thing that he talks about I highly recommend that you attend his starter it’s worth every dime.
[14:54] Music.
[15:05] Brian page welcome to the show thank you so much glad to be here.
Yeah we appreciate you taking time from your very busy schedule busier than normal and I should say congratulations on the birth of your first daughter.
[15:21] Thank you so much I appreciate it if you had it’s a life-changer but my new my first born was born about a week ago yeah yeah that’s right we postpone the call because of that from earlier.
A Julia Julia Grace Lovett Lovett Julia Grace I love that all right now.
We’re here to talk a little bit while we’re we’re always up in real estate investing on this show but
we’ve done a little talk here about the Airbnb strategy and it’s becoming a strategy in the business for a lot of people and so we can talk about that now I know you flip a hundred houses to but.
Lately you’re in the air B&B so tell us how that evolved and what you got going on.
Sure sure well I came home real estate investing background the very first successful business that I tried was was flipping homes I tried I tried just about everything and nothing worked for me and before lip
for the time I was about 30 I started really flipping a lot of properties in
became a millionaire the real estate World in and of course probably lost it all during the real estate bubble crash so that that was kind of painful experience and.
[16:27] I kind of starting over I was looking at,
different you know friends are going on in the world especially with the sharing economy in these these huge unicorn companies that are worth billions of dollars that are kind of spring up in one of them with Airbnb and I thought that sounds kind of like.
Real estate but it’s not really it’s kind of somewhere between real estate and technology and I started figure out a way to create cash flow from properties that I didn’t own on Airbnb and that’s how I kind of jump back into the game but indirectly in the game of.
Alright so Airbnb all right so.
[17:05] All right just talk to me like I’m a brand-new be here help me get started if I’m thinking about this I know everybody’s talking about it what do I do to get started doing an Airbnb.
[17:16] Okay so if you own property it’s very easy you just list the property on the site and on average I would say the average host makes about three to four hundred percent more cash flow on Airbnb they would renting for long-term tenants
so if you’re making you know two $300 cash flow you could make many many more times.
On Airbnb than the doing long-term have you don’t own property you don’t you can also do this you can lease properties and then list them on the site and that’s what I teach you how to do,
get it seems kind of risky.
I know it’s not risky cuz you can actually partner with the owners if you don’t want to sign a lease I like signing leases cuz I want to control the property for the longest amount of time possible so that I can keep all the money if you want to partner with a notary can go to another and say hey
I want to give you more than the market rent on this property if you’re willing to do a month-to-month agreement with me and many owners are okay with that
you know this shows been going since April 2019 and within the first 30 days one of the questions I dealt with was vacation properties and at this for 15 years and abilities and look to vacation properties
run the numbers out and concluded many years ago that you just can’t.
You really can’t pay for the property that way you can offset some of your expenses but man just in the seams in the last 12 months that’s all changed am I right.
[18:36] It has changed but you know it depends on what your defining as as vacation property most people think of vacation properties as expensive properties like at the beach or in the mountains that’s not what we do that’s not what I do
something that Airbnb has this model has changed its not just sucking on the type stuff.
Yeah it’s any kind of property any property from from you know very modest homes and modest condos in in small towns to you know properties of large cities doesn’t have to be a destination and so that the key here though is your taking something.
By the month and selling it by the day just the oldest business trick in the book by something you divided up and sell it for more that’s what hotels do and that’s what are you can do on Airbnb now property that’s $1,000 a month
you can list it on Airbnb Airbnb and make $3,000 not $2,000 in your pocket and I teach people how to get landlords to say yes how to get owners to say yes and if you already own properties I can teach you how to take your own properties and then turn them into being peace which is way more lucrative
all right now I’m just thinking about this and I’m thinking you said almost anywhere
there’s some really small towns in America that I can’t imagine people really wanting to go to I won’t say the name of the town but I was speaking at a town in northern Wisconsin about 20 years ago.
Right on the shores of Lake Superior so most of you can figure out where that was.
[19:59] The gentleman and I’m always curious about the local economy in how you know the history and why people settled there and so the way I asked it I guess kind of set myself up for this but I said to the gentleman give me that you are so why do people live in this town.
A thought for a man they said.
Cuz they can’t get anywhere else it was kind of one of those towns where it’s at his live anywhere else you would so.
Does Airbnb work there or you need to stick to places where people actually want to go.
[20:32] Will the easiest dead giveaway of whether or not short-term rentals will work where you live is is there a hotel near you.
Hotel spend hundreds of thousands or millions of dollars to build these facilities that do nothing but cater to people coming in for 1 2 3 nights seven nights so if is hotel near you which hotel just about anywhere you thirst people traveling there short-term
I know that’s that’s obvious
yeah but it’s not something that I thought of and.
And they got to know that people are going there so just let any size town or city has hotel but the interesting thing is I’ve talked people
in towns as small as 683 people I’ve got a guy at this in a town of 680.
There’s not even hotels here there’s nothing here people come to my town they have no option but to do home sharing I got it they got to book an Airbnb to stay here and he’s doing really well and I’ve got lots of people in towns under $10,000 doing extremely well so it works as well.
[21:39] Yeah okay I guess that’s alright so you like this better than flipping houses I guess this is what you’re doing that right I do I do I like this well I you know I love flipping houses had a lot of fun doing that but
but you know what’s the average person if it can be a little bit risky and it’s it’s not something you can just dive into in the within 30 days you can be profitable with this you could literally
get a property the next day list on Airbnb and start creating cash flow and I love cash flow,
versus capital gains I like to build cash flow and I don’t know any better way to make cash flow on single-family units than doing this model,
I know one of the things that comes to my mind is if you’ve got people coming in and out all the time.
[22:23] It sounds like you’re basically going to be a maid service and you’re going to be in the hospitality business in that can really eat into your day.
And what do you do about that.
[22:35] Graypoint yeah most people don’t don’t point that or don’t even think about that you are starting essentially you’re a little hotel but when you stay in a hotel Standard hotel and you go in and you walk up to the front desk do you generally see the owner there.
[22:48] No just going to let you down
Podunk little hotel on the side of the highway you never meet the owner of the owner of the hotel and he has management who manages this the cool thing is that nowadays you can hire virtual services that will handle all of the guest interaction all the messages and the coordinate with a cleaning company
so I don’t blame a company’s I don’t talk to my guests.
I’m ninety-nine percent the time I don’t do the day today all of that is managed for a few Pennies on the dollar and so I really am all about systems and automating because I don’t want to create a job for myself I don’t want other people to create a job for them
so what I showed him how to do is to have 5-10-15 as many listings they want and spend very very few hours per week to manage all of them,
and I can be done with systems and Wood services cuz nowadays there’s all kinds of Services of sprung up that’s all they do is they cater to people who are short-term post interesting,
all right now. You teach people how to do this or you’ve alluded to it a couple of times let’s just get right down to it we partnered up with you to provide a webinar for our listeners and tell us,
a little bit about what they’ll hear in the webinar and I’ll give the address where they can go in a minute.
Sure so what I do is in this training I teach people a efforts my show you what I’ve done I show you my listings I show you case studies I show you inside my account specifically what I’ve made how much it cost to set up all that stuff.
[24:07] What I’m casting Nets on each property and kind of show you how I built it so when I started the very first time I started my first six months I mean about $117,000 on Airbnb in a little over three hundred thousand my first year.
And that was all the property that didn’t own.
So I was hitting the six-figure mark with only four units so I give you idea how much I’ll probably this can be so you how to do all that.
And show you the eight steps that I walk any property through and then how to start scaling it and then I’ll show that allow you to basically here from some other people have done the same thing.
It’s not just enough that I did it you want to know that other people done this too and I just one guy who you don’t know who’s like good for you by any one of your other people doing this on a people.
Where do exactly what I say okay I’m interested what if you’re looking at,
going to lease a property I mean I’m interested in this idea because this allows the average person to control a lot of properties when you’re going to lease they’re going to take a look at your income and your expenses,
that sort of thing they see you’ve least half dozen other houses have you ever run into somebody says Highwayman what are you going to do here or I don’t want you to.
Do it Airbnb thing in my house.
[25:30] Oh yeah some people say no but what I have what I’ve learned on a met with hundreds and hundreds of owners over the last few years face-to-face I’ve learned how to find out what their objections are and overcome their objections and they’re usually only a few of the same ones over and over and over again that they have.
But to me it’s just a numbers game if I if I go look at seven properties or six properties in a weekend one of those people’s going to say yes I don’t need a bunch of lipstick and only one listing every couple months a few listings in a year.
Serious income and so I basically educate owners when I say look I’m the best tenant you’ll ever have and here’s why,
here’s all the benefits of working with me that you don’t get with a short-term tenant short-term tenants don’t you’ll have their place professionally cleaned three times a week you know short-term
long-term tenants long-term tenants are more likely to you know have their dog dig holes in the backyard or leave a car on blocks in the driveway or put a satellite dish on the roof without permission yes they’re staying for two nights don’t do those things.
Those things cuz they don’t want they don’t act like they own the property so I kind of educate people that there’s actually not more wear and tear when you have short term guess you have to educate them that works at least your property that what you’re asking for.
And animals will sign a year lease or I’ll partner with you so I might say mister home owner you’re asking $1,000 for your unit what if I get to $1,200 a month,
guaranteed every month and he’s like well how do you do that why would you do that then I said what cuz you’re if you’re willing to do a month-to-month agreement with me.
I’ll be 1250 unit doesn’t matter whether I pay a few hundred dollars more because I know that unit will make.
[26:59] 2503 3000 or more on Airbnb.
[27:05] Okay that’s interesting when we get back from this break can you hang out with us for another segment I come back I want to talk to you a little bit about how you
how you got into real estate in the first place but I also want to tell everybody
we’re creating a a page on our website for you it’s www. Flipping America network.com BNB that’s like,
bed and bath B and the letter n and b b n b.
[27:39] Music.
[28:11] Braswell Capital Solutions is the number one source for investor-friendly residential and commercial real estate loans across the u.s. we offer a variety of loan
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[28:42] Larry Lucas and I’m a student in Rogers.
[28:48] Mentor program and I’m happy to say I’m working on my very first house we see this house gilding.
[28:58] Maybe $70,000 in profit but flipping America mentoring program is the only one that includes.
[29:08] Financing your deals so the mentoring program does exactly what.
[29:14] The contracts to do Rodger and Andrew and the other fellows and the team Tony have been super in providing oversight and guidance flipping America.
Has been the.
Vehicle that is allowing me to achieve my dreams and becoming a real estate investor.
[29:36] Music.
[30:04] Okay Brian, we’ve already shared a little bit of personal information with you at about the baby at all and that’s great.
I’m happy. I’m so happy for you man I did I love I love little babies and I want to be a grandfather really bad but none of my kids are interested in helping.
Helping that out I guess the kids have to touch the butt.
[30:25] I asked this question almost every time on this show of my guests.
Because I find that almost 100% of the people that are that I have on my show that are doing something in real estate.
Are not doing what they imagine what they would do when they were little and so that’s the question when you’re a little guy thinking about what you wanted to be when you grew up.
[30:47] What was that what did you want to be.
That is the best question I’ve ever been asked I’ve been in a lot of podcasts a lot of interviews that is a great question I wanted to be Indiana Jones When I Was kid that’s what I wanted to be an archaeologist interesting and believe it or not
you’re the second person that is sexually said that to me yeah so.
Well I got Supply got to be that a little bit not not and I’m not an archaeologist but I actually got to play Indiana Jones quite a few times because as soon as I setup my Airbnb business I started traveling the world I travel about to
the four months a year like around the world and I got to go to Egypt I got to go to Angkor Wat and all the ancient cities I’m you know.
Machu Picchu you name at all these places that I always dreamed of as a kid and I one of the coolest times was when I was in Egypt I was exploring I basically went all the way down the Nile and by myself kind of,
being in the country and I felt like Indiana Jones and so I got to kind of live that and I still love to do those kind of things and you don’t really I just
I wanted to find something that would give me the time. I’m going to go to do that cuz I don’t have money is other thing to not have the time to enjoy the money and I wanted to really travel the world and see these all these places so that’s what I wanted to be wanted to go hunting.
Ancient civilizations I guess you could say did you get the Hat.
[32:02] I did not get the handle. I thought about I was like you know all these traveled I should wear one of those those hat leather hats the Indy always worked in the movies I have one.
[32:15] You didn’t become an archaeologist and you didn’t get to play Indie in the sequel so you moved on with your life and became something else how did it happen that you ended up in real estate don’t mind me asking.
You know I tried everything that failed I tried every kind of business you can imagine that was in and out of every kind of network marketing company it just didn’t work for me I tried
I tried several businesses that failed and finally I just I just started researching your how do most people make their money and it seemed like real estate was the
biggest vehicle for for personal wealth other than owning a company and I thought man becoming wealthy with real estate maybe I should be real estate
and so I just spent entire summer reading books at Barnes & Noble over the free education and I read about a hundred books and took notes out of a hundred bucks of real estate investing and I decided flipping houses would be the,
a tool that I would use in real estate and so I just found a mentor he kind of taught me what he was doing and in North Carolina and end up flipping a whole bunch of properties there and doing really well and everything was going great until that.
Did the late 2012 crash happen and after losing all those properties foreclosure I thought you know what
I don’t want to go back down that road again I don’t want to sign my name to anything I’m not really want to take out I need that but how can I make money and I thought Home Sharing in the sharing economy be the way to do it and it was at your going to be.
[33:33] You’re very looking for me yeah yeah sounds like it alright so.
Let’s talk a little bit about the webinar the webinar do we have a date and time set yet or do I need to announce that later on when they click on the link there and I’ll see that the times that they can choose to to sign up for,
and join us on the webinar okay and that’s it flipping America network.com forward be
NBA 3 letters boy neighbor and boy be in be all right and so if if I sign onto this webinar and listen to this thing I’m going to learn all the stuff that you know and I’m.
[34:11] And then I’m going to be able to go up there and make the kind of money you’re making right.
Yeah I’m going to basically show you the woman show me the highlights I can teach you everything that I know cuz it would take $46 but I’m going to teach you the highlights that the very best stuff that you didn’t want to know if you’re in about there and find properties and of course if you want to work with me Dion that I can teach you
specifically how to do it I’ve taught about 4,000 people around the world trying to do this I have
hundreds and hundreds and hundreds of success success stories from 18 year olds to 85 year olds that are doing this and every corner of the globe other countries affected be go to B&B formula.com you’ll see all the
the video stories on their people stories
you know not know anything about this going out fighting the first second third property and creating new income so I don’t know of any other side hustle you can start that within 30 days you can create cash flow,
and that’s big that’s different than doing a deal you got cash flow that comes in every month or every day I can sleep there be if he pays you every day yeah
yeah and yeah you’re right but you know was with the traditional fixing and flipping thing it takes you 30 days just to get your first house that’s if you find it today and then there were so many deals nowadays it’s just
it’s a lot more competitive Define those deals are you still in North Carolina I’m in South Carolina Charleston.
[35:26] Okay I’ll write them down by the water and great crab cakes
yes I’m the best I’ve ever had were down there in Charleston okay so what’s the investing kind of like in Charleston if you don’t mind me asking have you been out there mix it up with.
Fixing Clippers at all I don’t do any kind of traditional real sing best thing at all anymore I just do short-term rentals that’s all I do I do Airbnb and I teach you how to do Airbnb that’s it.
Good sleep focused you see what happens to me on this show I talk to people who have a great idea some great method or technique and I get all all man that’s awesome I need to do that
and I have to remind myself as soon as we sign off I got to stick to my didn’t and do what I know to do.
Honestly by needs to do get one thing and do it really well for you think about doing something else alright.
Out and about and walking the streets Charleston and you meet somebody for the first time and and you’re talking about.
[36:23] Real real estate investing in Maceo I watch those shows on TV all the time I’ve been thinking about doing that I would you advise them to do.
Okay so I was flipping houses before any of the shows showed up on television and when I told friends I was flipping houses they were like that’s illegal you can flip houses that’s like that’s not illegal it’s just buy a house and selling it
because they always show The Profit at the end of each flip and I was like that’s not met there’s no realtor
please take it out there’s no you’re not considering the taxes you not considering all these things right they make it look Rosier than it is and because it’s a TV show they can cut a button it all up and show you that it all everything works out fine in the end and I bought a house isn’t it
did work out pretty well on most of them but doesn’t always work out that way for people I think the biggest trap our biggest stuffed pitbull with looking houses is most people don’t do not know how to.
Purchase write a purchase too much or spend too much on the property and they don’t know how to estimate what the repairs are correctly so we get halfway through the project realize
there’s no money to be made and so that’s really really a kind of dangerous road to go down if you don’t know what you’re doing. I can be pretty lucrative but I’ve nothing nothing against traditional real estate investing mean it’s a great way to buy for the average person that.
That doesn’t have any kind of real estate experience.
I think something like Airbnb is the way to go because you can start small you can start with one property if you ever rented a house before I rent an apartment in your life you already know half of it work.
[37:49] Complicated take property to list on Airbnb in immediately generate 1000 mm $3,000 a month for yourself.
That’s very very lucrative minutes if I don’t know any better way to go with real estate right now for the other person okay you know I think you’re right.
And all the things you said about flipping are correct and those are the areas that really bite people in the fanny when they start getting in this business now.
[38:16] But you didn’t you were told me that so many repairs but I had to start when you’re buying a or renting of a Airbnb house you’re getting on this already ready
I’m not going to make any repairs
not going to make any repairs and you try to find a properties that are furnished so I aim for furnace properties so it’s literally turn key I will also push back when my lease start so if I looking at a property I tell the owner like I normally start for 30 days if that’s okay sometimes I say no but you said I can get,
three or four weeks and the reason is cuz I want to put it up on the website
and start booking so I know my first month is profitable I do that all the time it’s already profitable before I get the keys to the property it really all I do is go over the property put some soaps and shampoos and they are and you know just Basics and then tell Mike Lee,
try to go and and it’s very hands-off I mean it’s like two to four hours a week to manage all of my listings I know it sounds crazy but it’s totally possible now with technology
you can do it all from your from your phone as long as you have Wi-Fi connection you could be anywhere in the world looking at properties managing your properties.
I make them smart property so I put electronic locks on the door so I know when somebody comes and goes all that can be done remotely enough to run around and properties and do the traditional.
Management that you do with real estate yeah that sounds great man
that’s that’s the life we all want that’s what we’re going for you have found it with scare B&B strategy.
[39:40] It also lists some trbo just curious I don’t know I used VRBO a couple times but I’ve had no problem getting nearly 100% bookings with just Airbnb it once again I like to be very very focused and when I cheat when I try to teach people multiple platforms they get confused so I say look just used Airbnb
do it correctly be really good at it it’s the largest platform in the world by far and it’s growing at a phenomenal.
About a million people a week signing up to use their baby for the first time so that’s a lot of people that are looking for places to stay all right folks he is Brian page
I’m Roger Blankenship your host we’ve been talking about the Airbnb strategy you’ve got an opportunity to take a free webinar just by going to flipping America network.com
BN
be and you can sign up there and you pick a time and it’ll all be right there for you Bryan thanks again for joining us today and how can people get in touch with you directly
they can go to B&B formula.com if they want to learn more.
There’s nowhere there to sign up for this webinar is just something I’m doing with Rodger so if you want to go to that then check out the link that you just provided and you can sign up for this webinar and then I promise you it’s going to be something you never heard before if you own property.
And you want to increase your cash flow you got to pay attention to this and if you don’t own property I’ll show you how to do exactly what I did and build yourself a nice income by their baby,
a good stuff Brian preciate your time will talk very soon thank you I appreciate it.
[41:07] Music.
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[42:26] Music.
[42:52] Okay that’s exciting stuff January 31st Thursday night we are going to air the webinar
and I think we’re going to air it at 7 if you can’t make it it’s possible that it’s going to be recorded and there will be a replay but that’s when it’s going to happen Thursday night that’s just a few weeks away folks so mark your calendars and plan to join us for that.
[43:17] I got this question the other day that I thought it’s one of the more interesting questions I received I was talking with the young man who is very active in the business and.
Really keeps his finger on the pulse of what’s happening with real estate investing in America and he asked me this.
Are there too many house flippers in the marketplace today.
[43:40] And the fact that all the explanation that is you know all the big National gurus come through Atlanta here and hit a lot of the major cities two or three times a year they’re cranking out
you know investors by the dozens are new investor wannabes by the dozens and this individual.
[44:00] Attended the one of the local reia groups we have to be large Ria groupset when I actually have three large Ria groups in Atlanta here but two of them meet on the same night and.
He went to one and it was packed out and he looked at on the internet at the pictures from the other one and it was.
And he said you know between these two events there 500 people at these meetings and they’re all wanting to get in this game and learn this game is that too many people.
[44:29] And I had to think about that for a minute because.
Of course you know my first reaction and then going back to the comment should have said at the beginning of the show my first reaction is you know these are competitors and yeah there’s too many wish that there were none in all the opportunity was out there just for me.
Of course we will think that but we never really say that right on the other hand.
You know I don’t I don’t think there are too many in the market will take care of itself and So my answer almost doesn’t really matter but I I want to weigh in here and say there are not too many people trying to flip houses the fact is
summer going to be good at it and summer not now that’s a little sad but.
Those that find out that they’re not good at it I would encourage you and you know there were times when I felt like I wasn’t good at it but
find out what it is you’re good at that’s what really is bring some meaning and value to our lives find out what it is you’re good at and you know if it’s legal and moral and and and you can make money with it then make your career with it.
Okay you don’t have to be passionate about it you just need to be good at it.
[45:43] And how do you know when you’re good at something I’ve been working on a new course that we’re going to teach very soon called The Confidence course and I’ll say more about that a little bit later on but.
How do you know when you’re good at something cuz you see one of the things that the research tells us is that people who are incompetent Lac
this skill set to recognize confidence so many times the people who are most confident are the least
competent and the opposite is true
many times the people who are filled with doubt are the people who are most confident and know the much know the most about what it it whatever this thing is so how do you figure this out if you feel like you’re good at something how do you find out
well the answer is in the results look at the results of what you done and then look at the opinions of others about the results that you have.
[46:43] And honestly just take a look step back and look at yourself honestly how do you do.
And you know we don’t need to spend a lot of time comparing ourselves with other people because there’s only one of us you are a unique you there’s only one you and a few tried to be like me then
do you wouldn’t be all the you that you were created to be so stop it okay you be you and I’ll be me and I see somebody else who has
notable and admirable characteristics and I find myself admiring them and wanting to be like them and recognized but what I have to do is step back and recognize there are traits that I can adapt
into my own life in Persona but I can’t stop being me the person that I am the wired and weird and.
[47:33] To my wife wonderful.
Person that I am so you be the wired and weird and wonderful person that you are find out what it is you’re good at and if you need to experiment with flipping houses in order to find out that you’re not good at it in okay
but if you also already know,
that you’re not going to do well with the complexity and you’re not that interested in the parts and pieces of a house.
What is it that interests you in it at all is it the design idea
went there opportunities for you to get a kind of stay in the design area maybe instead of being a house flipper you become a house Stager you know there are business opportunities that will fit a fit your interest.
So are the chimney house flippers.
[48:21] Yeah kind of but no and I say this also because there are still a lot of houses that need to be flipped.
There are a lot of abandoned and vacant houses and it may be as many as seventy thousand in the metropolitan Atlanta area vacant and abandoned houses that still need to be fixed no Metropolitan you know he’s grown from 13 to maybe 15 or 20 counties in that covers
you know probably half of Northern Georgia but.
In this metropolitan area there are still a lot of vacant and abandoned abandoned houses and we know about thousands and thousands of empty lots.
And so the opportunity is there don’t let the fact that there are hundreds of other people doing this deter you just find your thing do your thing.
[49:11] Belgium interesting.
News in in in questions about them I still I get these mean I’m I’m going to talk about this although I have talked about it I’m going to talk about it again because
I’m just again this week kind of got slapped around in the face with somebody saying all a crash is inevitable we’re going to have another crash it’s going to be like 2008 it’s inevitable it’s going to happen you know real estate travels in Cycles you know that’s the problem when you mix some fear
with a little bit of mixture of Truth
the truth is real estate does follow a cycle just like the economy Falls recycle in the stock market follows a cycle and they’re not always connected and one is not necessarily always a leading indicator of the other.
[49:57] We are
experiencing a correction here in the central part of the us or in the southern us we are just at the Leading Edge of the correction I would say that the coastal areas of the United States are six months into the
correction and we are at the Leading Edge of it now look folks don’t be alarmed.
[50:17] I have been saying for the last year-and-a-half that this was coming and I predicted by the end of 2018 that we would be heading toward the balance market and guess what
we’re heading toward a balanced Market does that mean I have some magical crystal ball know I have access to good data real estate doesn’t move that quickly and.
[50:38] You know we had a precipitous event in 2008 that was spurred on by the greed of the banks and regulation from the from the highest levels in the federal government,
sought to make the dream of homeownership available to everyone including people who had no business.
Qualifying for loans are buying houses that is not being repeated if we were heading toward a crisis we would be seeing increasing rates of
default in foreclosure and in fact I just got the CoreLogic report for 4th quarter and defaults in foreclosure foreclosures are at an all-time low now I have the data on that from the CoreLogic report I also have my own anecdotal experience from the fact that I buy the Foreclosure data here in metro Atlanta and our numbers
I’m properties to look at are down down down every month there’s just not much being foreclosed well that’s fine.
That’s great for the people that own those houses in are going to get to keep their houses that just means that the opportunity for real estate investing and adding value is somewhere else.
So does this mean that we are heading toward the crash absolutely not.
It does me no ways you take a look at the softening Market the longer days on Market what it does mean is.
[51:55] We’re going to have to learn this year many of the investors that I know are only two or three years into it this year we’re going to have to learn how to actually sell our properties.
There will come a time and it may be by the middle of the Year where.
Putting a sign in the yard is not enough to get an offer the next day
some of you think that’s the norm that is not the norm the norm is a 30-day marketing. And that’s if you price it right.
Okay so we’re heading back to a normal Market.
[52:33] This means something else and I’m going to make a fairly bold prediction here I am predicting that by the middle of the year.
We will as investors once again be able to buy properties from Banks and his other distressed properties through the MLS.
Now it’s been awhile since most of us have bought anything from the MLS because banks have been caught up in the craze 2 they know the markets white-hot
and so they know that if they can just clean up their bank-owned properties a little bit and make them look at somewhat presentable they can get close to top dollar for them and so banks have been doing Alp rehabs over the past few years and they have not been accepting the prices that we like to offer
that’s going to slow down the banks are going to find that they’re holding on to these properties and they do not want to hold on to these properties and,
maybe not by the middle of the year but sometime mid to the end of the year we are going to be able to get properties at our number from the banks off the MLS and that’ll be is that a good thing well it’s a different thing.
[53:40] You know with every problem that comes challenges in when it comes to business, me in the market.
When something is up something else is down when something is down and looks Doom and Gloom There’s an opportunity somewhere else what you have to do is train yourself know this is true in the stock market this is true in the bond market this is true and commodities this is true in real estate
as the real estate market changes my friends and it is changing this year this is going to be a different year
as it changes just keep your eyes open and look for the opportunities in new area this is why.
Get a we are looking outside of metropolitan Atlanta now there are still a number of fine opportunities inside what we called the perimeter the in the 285 Interstate loop around Atlanta.
There are still many fine opportunities but my team and I have decided we’re not going to buy any of them anymore
we are basically looking outside the perimeter for newer properties and lighter rehabs,
we are also looking to the Airbnb strategy and the expense inexpensive how strategy and you know a couple of things were testing just to see how they work out.
But I can’t say nothing about that because we’re trying some new things that I wouldn’t want you to go out and try.
[54:57] Okay what will let you know when we get infected but we are not going to do any more.
Old houses that Jack dad square footage 2 + pop the top and and spend $100,000 on the rehab why,
well just don’t want to and we’re willing to drive to find the other houses that can work for us.
I’m we think that the that the market isn’t drying up necessarily but what’s left inside the perimeter of Atlanta is.
Large rehabs.
And that’s not what we want we want to turn her money around a little faster so there’s nothing earth-shattering in all of this it’s just a matter of adjusting your course a little bit
to catch the best Breeze to get you down the road to where you want to be and I want it.
Can I send you a Parting Shot here by encouraging you not to get wrapped up.
In one particular zip code one particular method or one particular the technique.
[56:06] Yes don’t try everything you know Master something but if you stick with something.
Until it just completely dries up and there’s no way to make money add anymore you stayed with it too long if you haven’t read it already I want you to get it to download and read the book.
Who Moved My Cheese by Spencer Johnson I read this book after The Real Estate crash
and that’s when I first started developing these ideas that you know I’ve got to move out I got to do something different I read it again once the hedge funds came to town and started buying up everything that I used to be able to get
and I think it’s time to read the book again and think about what’s next where to go this is the kind of thinking that I bring you today.
[56:54] I want to wrap it up today with the question that came to me from William in one of the strategy calls this week William is working hard he’s doing the traditional things and you just not getting enough deal flow and he wanted to know where he could find more deals.
Well over the next 30 minutes or so I gave him such a list of of ways to find and create deals
he said he’s going to take him a while to get through all of this William if you’re listening enjoyed the conversation my man and I want you to get back in touch with me and let me know how it’s working out.
He is on social media for example he has a Facebook page but he didn’t know about joining the buy sell trade groups in in.
[57:35] Getting in there and their other groups that you can go into the point is to let people know everywhere that you were buying houses may we are about to run out of time but I gave him.
I don’t know half a dozen sources.
That are not necessary traditional sources but ways of finding more opportunity for deal flow.
Because I get this question a lot I’m thinking about putting together a little mini lesson on this if you’re interested send me an email to questions at flipping America network.com.
Let me know you would like to take a look at that lesson or that little course when it comes out ways to find a bunch of deals.
Diet books music means we’re out of time for today I hope you’ll join us on the webinar but hopefully we’ll see you again on our very next show.
[58:21] Music.
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[59:16] Music.
[59:31] You’ve been listening to flipping America real estate investing for everyone if you have any questions about real estate send them to questions at flipping America network.com.
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