Flipping America 253, The VIP Paradigm

podcast 253, The VIP Paradigm


Mark Dolfini is back with us today. And as a special treat Mark is in the studio right here with today. He’s in town doing a bootcamp which, by the time you hear this, you will unfortunately have missed, but we are going to tell you how to reach Mark so you can take advantage of his next appearance in your area. 

How to contact us



Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question. 

Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don’t mind. 


  • Lunch with me every Wednesday. Baraonda
  • My latest article in Forbes is out. bit.ly/findredeals.
  • The FAN is here!
  • Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy. 
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Real Estate News

Rising rents for Millennials give rise to a new breed of lender


CIM Group has announced that its $5 billion development of apartments, offices, hotels and retail at The Gulch will be called Centennial Yards.


National News

Do you consider your home a great investment?


26 year old millionaire investor talks about the mistakes he made while buying homes – Buy the Cheapest house in the hood. 


International News

Real Estate firm names the top cities for risk-seeking investors


China-owned tower in New York City reportedly wouldn’t let Amnesty International move in


Venture Capital flows between China and the US surpass direct investment for the first time


Special Guest: Mark Dolfini

Your Questions: Send emails to questions@rogerblankenship.com

  • Allison, Milwaukee, WI, “I have a full-time job, but I’m so ready to get started in this business. My plan is to flip a house, then use some of the profits as a down-payment on a rental. I have about 10 hours a week I can spend. What is a realistic goal for me to reach by the end of 2020?
  • Eduardo, Houston, TX “I’m a short drive from the beach and a short drive from some fairly inexpensive rental properties. I don’t have enough money to do both. If you were in my shoes what would your preference be? I’ve run the numbers and the beach properties could be a little bit more lucrative.”
  • Cindy, Chattanooga, TN “How do you decide whether a town is too small to flip a house?”
  • Barry, Macon, GA “We have some areas here in downtown Macon that really need revitalizing. I believe I can help with that by fixing up some of the houses. We could make a positive impact, but my contractor doesn’t want to work down there. Any suggestions?”
  • Altomar, Boulder, CO, “Prices are crazy here anywhere near the campus. What would you suggest to people with a bit of money but not enough to do a 600k loan?” 
  • Lamar, Atlanta, GA “The house across the street from my current project is vacant and the owners stay just about a 3 minute drive from where I live. I’m pretty sure they inherited it. I thought about knocking on their door the other day, but I don’t know what I would say. How would you try to buy it?”

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!

Motivational Thoughts for the day

  • “There is no amount of money that makes time irrelevant.”
    -Mark Dolfini

Mark Dolfini

Expected Air Date: 6/1/19


[0:00] Music.

[0:17] 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

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And now you’re sad flipping America guy Rodger Blankenship thank you Kathy

hello everybody we’re back we’re talking real estate and I’ve got Mark dolfini with this today not only do I have it with his he’s actually here in the studio.

Especial Street a special treat for us today Mark welcome to the show it is so good to be here

and that some of you may remember that we had mark on a while back and you talked about the VIP Paradigm and he’s what I’m sure going to talk about that again a little bit more today but.

[1:13] Anyway he is in town to do what what do you call the thing you want to do. It’s actually happening today

while this show is airing so it would see if you’re listening to this you missed it is it a boot camp at work shop where you bought it at well as a marine I can’t really in good conscience call anything a bootcamp

I’ve always wondered about that right yeah so I called it’s a two-day impact debate today impact event they were around to be going over the division of perceptual process Paradigm that is taught in the time of the investor 2.0

okay alright say that a little slower you’re going over the.

[1:47] Vision infrastructure process Paradigm correct that is taught in the in the time wealthy investor 2.0 it’s a book that I had written.

I hit number one on Amazon back in back in March and in time wealthy investor talk about that when you were on the show before all right that’s good so.

If you’re listening this right now you’re missing marks event however.

It’s a Saturday and Sunday so this show is airing on Saturday if you’re in the Atlanta area I don’t know is if they miss Saturday really miss the main part right

all of it so if they are interested they can go to there is other events that are going to be held for example in July 13th and 14th there’s going to be an event same event will be held in Indianapolis so it’s a

it’s a good venue with it I keep these classes intentionally small so it’s not can you not give me a room with a hundred different people it’s going to be fairly intimate to be taught by me so if you don’t like me don’t come.

But that’s okay but but you get to get all right well I tell you I really the reason you’re here.

[2:54] As a welcome back to the show is I really liked what you said when about

how Vision what I’ve been saying is connects your soul to your business it it just provides a Connecting Point of foundation for everything that you do and.

You know as I’ve talked to people out and about talk about you and talked about vision and so forth I get the typical eyes glaze over yeah I’ve heard Mission Vision Values I’ve read all the books by Blah Blah Blah by that’s a good look

you need to listen to Mark because he takes this Vision piece and a slightly different direction in a whole lot deeper than anything I think you’ve probably heard before.

[3:32] And that you would agree with that cuz you put a tremendous amount of thought into it right and yeah I spent a lot of time and it’s that the

problem with vision and I think it’s just become a very to become almost a buzzword or just people see

how can I watch Eurovision in and the other have vision boards and all these things I think it’s gotten very diluted in terms of what it

what people are really trying to accomplish are really what it’s about

and I think that vision is much more the visceral it’s much more emotional than people will allow themselves to get to so it really is it it’s it’s everything and every time I go back to its are true north it’s rsr Compass heading.

Every decision that you should be making should be based on your vision for the future and then if it’s not then you really do be questioning yourself if you should be doing that at all

okay I want to drill down to that in our next segment but let’s leave him something to hang on to the commercials always find me on Rodger Blankenship. Com

that’s our website and if you’re on if you’re looking on face.

[4:34] Look for the show just look up facebook.com flipping America media and follow the show on Twitter and Instagram at flipping America if you have a question about real estate or real estate investing I’m even going to say a question about

life but mainly real estate real estate investing.

You can email it to me at questions at Roger Blankenship. Com we answer every question that comes into the show we always have we always will we don’t charge you anything for that

even if you think we’ve been asked this question a bazillion times before.

[5:05] We probably have but will answer it again for you just like it’s the first time because it is the first time for you or if you don’t want to email you can always call our national comment line for 04369

1018 extension one it works 24/7 you can leave your message or your question and we will get back to you,

couple of other announcements we do lunch every Wednesday and dinner every Thursday lunches Wednesday at baraonda Italian restaurant right in the heart of midtown Atlanta if you come in from out of town and tell me that you heard about it on the show your lunch is on me.

The same thing is true for supper on Thursdays also in Midtown at City Tap.

Every Thursday night we are there and if you come in from out of town tell me heard about on the show I’ll buy you dinner and I’ll buy you a drink if you happen to imbibe okay.

[5:52] That’s because I want you to I want you to come by I want you to hang out with us and we do these networking meetings for the purpose of helping people get started or get going or are get growing in their real estate business

lot of other things coming around the corner but I’ve got Mark standing by right here and we’re going to start talking about

Vision infrastructure and process in just a couple of minutes but let’s do a little bit of review mark.

For those that didn’t hear you last time you were on the show tell us a little bit about your story where you came from and how you ended up in this.

I grew up in Upstate New York and then it had pretty much done absolutely nothing when it came to academics a just as a as an important no cure

I graduated 352nd and 354 so my success in real estate is very much in spite of that not certainly not because of that

but that’s a that’s a testament to saying you know having a solid vision for your future is going to be that much more important.

[6:56] Because I had a vision for what I want in my life to look like but it didn’t start out then so fortunately I went to I needed to get my

life straightened out so I join the Marine Corps did that they are professional taildraggers and got me got me head in the right direction real quick I went to the Marines went to Purdue got my degree in accounting and that’s really well as at Purdue I started buying rental properties and then by the time I had graduated I had.

I had to go to have my dogs were the real estate that did I had acquired about about a dozen or so rental units all together so that at that point is really where I started to make.

All of my mistakes and I really where the true learning started yes and you know.

I think it’s interesting that you didn’t start out by going to the seminar you just started buying rental properties right that’s exactly right and you learned some lessons the hard way and it probably cost you money that you could have.

You could have paid that money to someone to teach you or you can just learn to the other way

yeah and I don’t think there’s a right or wrong way I mean there certainly is some of those out.

People that out there that do charge a lot of money for their coaching and I can respect that

but that’s not the way I chose I chose to go about it the more difficult way I suppose but well I guess the point I’m trying to make is there’s a tuition to this thing it’s right it’s you can pay by paying,

I meant or are you can just pay it by making mistakes either way there’s a tuition.

[8:25] And so just accept that and it’s and it’s okay the one thing that I do want to encourage you all over you listening right now is listen to what he said he had a job

he had some money.

[8:36] And he started buying buy-and-hold properties in a Warren Buffett said by something to create cash flow and never sell it.

[8:46] Right okay so that’s a pretty good way to start what people

little people come to our event all the time and they are just so enamoured with the buying and fixing up a house and selling it for a huge profit because they’ve seen it on TV are there any TV shows that do Buy and Hold

that’s not as dramatic and not a sexy well it’s funny because I was thinking about that the other day we’re in my company which right which I had did you know there’s the rest of the story right as I started I would love to say that was a straight line up from after I get out of college and had.

These half-dozen Northeast us renal unit yourself.

[9:23] And it wasn’t just straight-line trajectory up but it didn’t quite happen that way they did you know I got up to 92 rental units by myself

and I which was a definition of Madness I mean I had created a horrible job for myself that no one in their right mind would have wanted and even though I was bring it in

roughly $65,000 a month in revenues that sounds really sexy but working 20 and 22 hour days is not and that’s exactly it was I was headed toward the burnout and and that’s exactly what ended up happening so

yeah they the whole it’s funny we were talking around the office now I have a business that I set up in and

through the division of a structure process Paradigm and we talked about how fun it would be to have a reality TV show called the landlord or the manager or something along those lines we’re all day long

yeah but you know I think it would be after a while you would be

basically having a rerun with different names because it’s a lot of the same stuff over and over again right which can be handled systematically and that’s what’s funny is people

State Journal complain about the same things over and over okay we got to go pay.

[10:26] Music.

[10:48] You never know what’s around the corner

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[12:05] Music.

[12:19] Okay I’m back I’m Rodger he’s Mark and vision.

[12:26] How do you define vision and how is it different from the standard stuff that people hear all the time about vision and answer a question Walt Vision it really is about where you want to go.

[12:38] Now there’s there’s a there’s something specifically not in there I didn’t say where you want to take your business I didn’t say where you want your business to go I specifically said where you want to go.

Ryan and we we we we go to Dee’s Rhea meetings and real estate investment club meetings and things like that where you know you often talk to people.

A lot of times where is it that you’re trying to go when you trying to get to and they’ll answer back home while I’m trying to get to 25 Rhino units

and and and I always come back my snarking answer really 25 wow but why not 26

right why not in the 125 why you know it’s always an it’s always a routing number that’s what ironic that that just always comes to that.

That’s specific with their Vision piece really needs to be something that’s not with them about it’s almost very selfish they really need to think about them and why they’re doing this on the first place.

[13:27] Okay.

[13:28] All right well you know I just had a thought I didn’t plan this I didn’t think of this before I just thought of it just now why don’t we pick on me okay.

[13:39] And I’ll tell you what what I have in mind is my vision which kind of drives everything that I do and I never shared this on the air before.

And you tell me what’s wrong with it.

Or how I can refine it she shark molds to it so this will be a only want to do this because it would be beneficial to the listeners I think we can get there I think we can all right.

Okay my vision for where I want to go I want to.

I don’t have a specific location in my bed I guess an office I want to sit in my office and on Monday have an update from what’s going on in the real estate division.

And in Monday afternoon what’s going on with the foundation and that’s my day in the office.

[14:25] And it may be that maybe a teleconference because I may be overseas traveling with my bride somewhere but.

[14:36] The foundation is really what drives everything that I’m doing here and if you and those of you that are listening you here at the end of every show there is a motivational quotes and it’s brought to you today by the foundation for renewal.

The foundation for renewal is designed to bring lasting life-changing impact it’s a grassroot,

Grassroots movement designed to teach morality and Bible knowledge to public school children in the United States of America during their school day

about that. Sounds amazing there’s a way it can be done legally and constitutionally but most people don’t know about it and it is a fire that burns deep in me

and I sat down years ago and figured out what it would take

to truly launched this Foundation now I worked in nonprofit work for many years and spent a lot of time asking people for money got sick of it

never really was very good at it always felt something I know you’re supposed to say it ended in terms of let me share an opportunity with you.

But I also was at the other end of that to hate that you will take advantage of this opportunity to invest in lies whether I’ll get paid till there was pressure on me about that and I hated it

and so my vision here is to fund the foundation for Renewal with 25 million dollars of my own money.

[15:56] And then.

Be able to go out and raise an additional 25 million and with that with a 50 million dollar endowment I think we have the basis for a Perpetual Foundation

I’ve looked at what the outlays would be the foundation would provide matching grants for communities that are involved in these programs and there’s there’s a plan I’m not going into all the details here but there’s a plan for all that however.

[16:21] Given my age.

And the number of years I may have left on this Earth I don’t need to be the person running the foundation don’t I don’t want to be So the plan is to find someone else to run that.

And the income to support all this will come from Real Estate so my vision for me is to sit in my desk on a Monday or sit you know on a conference call Monday and spend.

Sometime talking to the director of the foundation how are things going why do we need Bubba Bubba blah and then spend some time talking to the director real estate and then maybe if there’s other Ventures but I’m not even.

Certain that that would happen real estate may be able to provide all that we need.

[16:58] I got okay so you ready for some payback okay well I love it because the I think one of the main things here it talks about something that you are

absolutely viscerally emotionally connected to and I think that’s so important…

Tells me that it’s something that’s really that you would get out of bed at 3 in the morning on a rainy Sunday because it’s that important to you

I think that’s that’s a big thing I could tell that just I could I could see you emotionally fired up about that would be something they almost your eyes welled up about that and that’s something that you just can’t.

It itch it was almost hard for you to even start talking about it because it’s emotional right our limbic system doesn’t have a capacity for language so we we it’s like trying to say why you love your wife why you love your grandmother it’s like why I don’t know when you come up with.

Platitudes like one another nice they make me cookies you know that

things like that but that’s not really what it’s about it’s it’s really because the limbic system doesn’t have the capacity for language. What I would challenge you on.

Is that your you talked an awful lot about the foundation and not an awful lot about Rodger.

[18:01] So so so what I would say is I think it’s a fantastic vision for where you want to bring that in and end.

And it what your role in that is I love the fact that you were very clear about

Monday morning I’ll 25 million dollars but you kind of glossed over that the selfish portion of yeah but I wanted to travel with my wife a minute you literally spent three seconds on that but then you went back in the foundation so I think that’s a great

intermediate goal I think it’s a great vision for the business but specifically I would want to know

what what is about Rodger wise what is it about that Rodger wants at the end of the day that the pot of gold at the end of rainbow for Rodger.

[18:43] I don’t really want to own a yacht but I wouldn’t mind you know renting one for a week just to see what it’s like

that’s a perfect example so you know like for example I know I’m not really tied to a lot of physical things I’m a man I’m a gun guy like my like my guns I have

Cliffside love my books all of my clothes that’s what’s up but but you literally I could probably boxed most of my stuff up in an 8 by 10 square and not miss most of it if it if it did it burned up but

for me it’s about experiences and travel and things like that and spend time with people that I want so.

Okay yeah so that’s why I say that that for you that they it’s not necessarily you’re not tied in the significance of things but you want to have the experiences and that’s that’s something you should definitely be in your vision

I alright well you know I noticed I did say I’m working on Monday and what I’m doing the rest of the week is I like play golf.

[19:40] And I’d like to get good at it one of these days but it takes time to do that and I do want to take my wife and see the world.

I’m a big fan of Art and I love museums

and I want to be there I want to be in some of the world’s greatest museums I want to see the architecture I want to see the cities and experience the life and.

Chili one of the Cities I want to know what I want to know that you can almost it’s so obvious to you that you could almost taste it it’s almost as obvious as the coffee you just drank or the or the

the taste of the meal that you just had it needs to be that Restoril that obvious obvious as is this the past will I have several destinations in mind

and several experiences one of the things I’ve been seeing ads for as the Viking river cruise you know that’s something I’d like to do it you just sail down the rivers of the Balkans wherever they are.

I’ve been Scandinavian who knows.

[20:40] Yeah okay so there’s some specific things like that that I don’t talk a whole lot about those things because I think more about launching the foundation really and and getting that going

and those other things do seem a little bit selfish.

[20:56] Then in here’s what I want to do it just this this is there so many people that I find in the real estate round that it’s rare that it. I talked to people who could clients for me I mean if they just say I want a Lamborghini because that’s all I want the world that’s the only thing that’s important to me okay well that’s.

That’s great there’s nothing wrong with that because of you you’re very significant striven and that’s makes you feel important there’s nothing wrong with that but.

On the opposite end almost everybody at the end of the day wants to make a contribution they want to grow so they can contribute so they can so they can make more

make this world a little bit better than 8 than they found it

and they want to run for city council a water run they want to be involved in their kids their kids school they want to be able to their Church they want to do things like that and they want to really make an impact so growth and contribution is a big deal for a lot of people and I can’t do that unless I have time will.

[21:44] Okay.

Impact that’s that that’s another thing and you’re helping me here but also people somebody asked me about six weeks ago why I do all these free things I invest in.

Even in the radio show and we do these networking meetings and I just you know give information out for free at these things and help people go along and.

I came up with a way of saying it that surprised me and.

But this is a part of who I am in the party I think my vision I want to be a person who is known for helping other people.

And I also believe that.

I like you I see Real Estate Investors all a lot of them want to do good in the world and so if I can help them achieve their income dreams where they can turn around and do good in the world I can play a small part in helping them.

Make the world a better place contribution is your number one I mean I I I see that in every way I mean even just you and your personal life and we’ve become friends became fast friends because of the way we are both so

contribution oriented and I think I’m very humbled by what you what you’ve been able to accomplish.

And also will you be able to help me I just it’s it’s it’s cool that I get to see all the really cool thing that you do so okay so now.

This is this back up a little bit and at your event your.

[23:10] Impact 40 call it to get in the impact event is the impact of it the impact event that’s coming up and it’s happening today while the show is airing in tomorrow.

At this event you’re you’re working with a small group of people and you’re giving them that kind of individual attention yeah it’s going to be that’s why I keep these courses the intentionally small.

Because you’re I’m not going to be able to dial in on everybody if I forgot you know her people in the room but I keep them intentionally small and I got me working with one another to so they can get.

A very very clear vision for where they want to go and then a lot of times the prom Edition it’s very hard to get there by yourself.

[23:50] And it’s almost like trying to put lotion on your own back and I think I missed a spot or try to give yourself a haircut back but.

But that’s the that’s the thing when you’re almost too close to your own Vision to see it

and your own natural gifts not so that’s why you’ve done it definitely helped somebody pull that out

yeah you’re making me laugh out I watch the Youtube video of a guy giving himself a haircut he was doing a video he said this is how you give yourself a haircut and when you got finished.

[24:23] It was horrible but he was like see how easy that is that is all they have the feeling when’s after they’ve done something.

Astoundingly mediocre chili horrible

so now after you after you spent time on the vision peace then it’s time to get down to connecting the dots because you have infrastructure and process right so the

and you’ve heard me say this before and maybe that listeners have with the infrastructure pieces so important because I’m a very basic level I know it’s a you want to be traveling with your bride

on a on a cruise a Viking Cruise

and you know you if you’re been on a cruise before you don’t have access to cell phones and they make very limited it’s very loaded access and it’s slow at best if you have any Wi-Fi what what but that’s the point like you’re on

the Viking Cruise why would you want to be working why are you messing with that but the point is so.

[25:20] It when you’re setting up your infrastructure starts at say your vision is to spend a month doing a Viking Cruise or at or something along those lines if your infrastructure is set up to where you have to return emails and phone calls in a timely manner

that’s going to be a horrible experience for you.

You know what you’re trying to let your vision of enjoying this Viking Cruise or sitting on a beach or sitting on a Mountaintop or whatever that is so the whole point is you have to have a solid vision for your future

front before you put the infrastructure in place

and the infrastructure things like you know your it’s your it’s your software it’s your it’s your desks and chairs that he wanted physical office it’s a drop box location for example it’s it’s the accounting software and all those sorts of things even a website would be considered infrastructure.

[26:04] Okay.

Yeah well you know we get about seven hundred emails a day in here to flipping America and fortunately I don’t have to read all of them but you know you’re giving me a spots about.

[26:16] A ways of offloading even a significant number the ones that I do look at so,

all right all right so then after infrastructure there’s process right so that the process piece is really the rules of how much you operate so if you’re looking at.

Other things in terms of how you do business

and if you want to take a process it’s really you know the the the rules of protocols and procedures in terms of how all that’s done so if you want to pull it out into an analogy of division is your map.

Infrastructure is the train tracks in the process is the train that runs on those tracks they’re all stays in the line with your vision for the future so

it went out with a hole with that all that put together you are now a business owner and you’re no longer self-employed.

[27:04] Right so do you think that your emphasis on process was influenced At All by your time in the military.

Well that’s a really good question I would say probably more infrastructure,

you know it’s funny because people who know me and in that it bites when I tell them

I have an accounting degree or like wait you have an accounting degree cuz I’m a very outgoing person people that know me know I’m a very social person and I like how in the world do you have an accounting degree so bipolar problems I’ve no idea

but I but I to do tend to think very very big picture but also I can go into the granular level.

What I seen the military is that it’s a process to system and it’s a system that wrote works really really well.

And I flew I was at every part of our flight crew so that those those pieces there.

Burberry checklist oriented so that probably did have something to do with the infrastructure and process portion of what I probably think yeah well you know you will need to know all about sop.

And documenting that that’s standard operating procedures for all of you who

and haven’t been exposed to Military and I’ve never served in the military but I’ve been around military and I worked under contract with the chaplains and travel to Korea five times

over a three-year Span in the early 90s working with the chaplains there in the reason I bring this up is by the time I got there for the last trip.

[28:26] There were no personnel there who were there on my first trip but every single thing.

Happened in the paperwork and all that stuff that they did as we process through the country it was the same every time.

Because they were all reading from the same operating manual so you come in and you do this you do that do that and I knew exactly what to expect even though none of the Personnel would be the same.

I took a lesson from that myself that’s what it had a profound influence on me actually documenting the the processes and creating your own manual.

That’s why we have a big document called the Whitestone way which is how we do things in our business.

That’s exactly right and that’s I mean if you think of everything and it did the the main thing here is consistency needs to be a product I don’t care what you do I don’t care if it’s even if you’re if you’re out there and there’s lots of small business owners who are.

If there’s a there’s lots of small business owners who are also interested in getting into real estate they are.

Yale division of a structured process Paradigm works and it works in lots of different ways so the main thing is.

[29:38] Shoot for consistency I mean even if you’re consistently bad.

We can fix that later in consistently bad I can’t fix that because you just say that but you really have to be consistent and once you can get that consistency then you know then you can start it and it and I mean everything from hiring to onboarding to,

to everything that how you do a customer’s and everything else so just shoot for consistency and the way you do that is through checklist and procedures and protocols and and and having a solid infrastructure.

[30:07] That reminds me of a of one of those that demotivational posters have you seen those.

There’s one where there’s a Target there and there’s an arrow that’s on the very edge of it and that Arrow has been split by another arrow and the caption says,

consistency may not always be the top thing you want.

[30:23] Music.

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[32:14] Music.

[32:30] I we ran out of time there

but we’re back I’m Rodger this is Mark and I teach people how to make money in real estate Mark teaches us how to manage our lives and business better just by getting a hold of his VIP Paradigm we’ve been talking about that now.

If you’re listening to this now on Saturday morning you’ve missed this weekend but I know.

And I hope that after listening this you want to hook up with Mark and

get to his event in Indianapolis so tell us how to how the listeners can reach you and also the date of your of your next event sure the best way to do it I mean reach out to a course on social media that’s that’s a great thing but my landlord coach that you’ll see me.

My mug there but,

landlord coach.com is really the best way if you want to get registered for this again I do keep these events intentionally small they’re not priced outrageously in your you know it’s going to be a very impactful event in I promise if you

get to the event and you don’t find that it was worth your time you were worth your while I’m going to give you your money back so I’ll just go to the landlord coach.com you can register for the event July 13th and 14th to be Saturday and Sunday.

And and yeah just make sure you’re rested before you come cuz it’s going to be a busy two days.

[33:44] Okay July 13th and 14th all right now let’s change gears a little bit

we’ve been doing your standard thing I’m going to throw some curve balls at you because I’ve got questions from listeners and that we’ve got two segments left and you are kind of like here in the studio with me so I’m going to let you help me answer the question

first of all this deal with one news headline where’s my new stinger

got an article from cnbc.com.

That asked the question do you consider your home a great investment so let’s talk about that I’m going to put mark on the spot here for a minute and let’s talk about your home as a great investment first of all.

Disclaimers are you a homeowner actually right now no.

Okay that’s okay neither am I I sold my home and I’ll be glad to tell why I’ve actually told why on the show already but go ahead do you consider a home


[34:43] I do not okay explain the reason I don’t is because it it it it’s got to be an alignment and this should be a shock to you but I’m going back to Vision right I mean

it really depends on what you’re trying to accomplish I don’t consider that isn’t as an adult but I don’t think it’s a bad idea necessarily if it’s in line with your vision for the future but it mean

it just depends on what you’re trying to accomplish so

and if it part of what you want to accomplish as your vision for the future is let’s say that you want to get married and have 10 kids and 100 grandchildren that’s fantastic I think that’s a good Vision shoot for that’s great.

But that really needs to be purposeful you need to be intentional about that well if

if you want to let you know if you want to have a house where you’re generating memories and and that’s part of your vision for the future then absolutely that should then then yes you should

get into a house that’s big and lots of bedrooms and lots of place for it to run around in that sort of thing but it really to look at it as a wholesale as an investment.

I would say not in a Acura sense no it’s not.

Yes and we’re just talking in investment okay there are a lot of reasons to own a home but investment is not one of them.

[35:56] And so that has me actually agree with the article in folks if you listen to this show if you have the app and I didn’t say this in the at the start of the show and I said almost every show but flipping America is now an app is free in the App Store when you download the app you get to show notes this story along with a lot of others were not going to get to today

are in the.

[36:16] It’s in the app and it’s clickable you can read the CNBC article that says that the guy says really from a purely Financial standpoint.

[36:24] Home ownership is not a solid investment a lot of people think it’s their number one biggest investment and what I say I try to be nice about it.

The basically home owning a home is a forced zero interest savings account.

[36:42] That you may make a little bit on it but what you’re really going to do over 30 years is you’re going to you’re going to build some equity in the house by making that payment and.

That’s a good thing for people who don’t have the discipline to save money on their own.

Frank but now there are other reasons for homeownership besides the financial benefits in the you alluded to that and that’s exactly right I kind of think

and I know I’m old but I kind of think if you’re going to have kids you should have a place with a yard and then you should make them go out and play in the yard

get him away from the screens and once in awhile

make them your lackeys but basically you know

boys and girls need to know how to make basic repairs around the home and they need to know how to change a tire on their car and you know but I’m old

maybe that’s something that won’t be necessary maybe by the time our grandchildren are grown ups robots will change the tires on the car and who knows

I think from this aspect I think that there is a lot of people who are looking at home ownership is as almost like what I don’t want I don’t know where I’m going to be in 5 years so they don’t necessarily want to pigeonhole themselves to a certain location and.

There’s lots of people who don’t want to be prisoners of geography right and I understand that yes so you know and there may be a reason not to inhabit the specific home because you know there’s people who say well you know we want to live in this school district for now.

[38:11] But our kids are going to graduate in there you know 5 to 7 years I got

kids in that same that same age range that are going to graduate in 5 to 7 years and we’re opening the nest at that point you know that’s it’s going to be okay go fly right and you know the article did say and I agree with this if you know that you have a 527 year window where you’re staying put.

[38:30] Then you may be able to build enough equity especially if you’re in one of those areas that is seeing some.

Growth Beyond appreciation in the housing market you may be worth it to own a home but if you’re going to be there in less than 5 years you’re probably better off renting

that that’s exactly right in your thing is too is that there’s there’s people that are buying it for appreciation only and is there any real estate,

a smart real estate investor is going to tell you you’re buying for cash flow don’t buy for appreciation it’s so difficult I mean if you’re waiting on the appreciation that could be a very long game

yes if you’re going to buy real estate for appreciation just take your money and put it in an index stock fund you’ll do better. Still ain’t right on X out of jail.

All right,

so that’s the the one news headline I’ve got a bunch of other news I don’t know that we’ll get to it today because I also have a bunch of questions from you just a reminder if you have questions about real estates in the questions at Rodger Blankenship

I come and that we will answer the question we don’t answer them all on the air

but we will answer your question if we think it’ll help some other people so here’s what we have for today Allison from Milwaukee Wisconsin says I have a full-time job but I am so ready to get started in this business.

My plan is to flip a house.

Then use some of the profits as a downpayment on a rental I have about 10 hours a week I can spend what is a realistic goal for me to reach by the end of 2020.

[39:51] That’s a good question man I love that question yeah she she really hit a lot of things are and what at what I what I love about the question,

is the fact that and is it Allison

I love that you talk about having a full-time job but you also budgeted your time your budgeting 10 hours a week so you can do this and that is fantastic I love the fact that you’re budgeting your your time for this because it yeah you have some time while then you want to use that time well to create capacity to create more capacity for yourself so

a realistic goal for you I think right now I I love the idea of you want to buy a house you want to flip a house the problem here

the concern that I have in this is definitely something that Rodger can help you with and he is the master at this I don’t flip a lot of houses I am doing a flip right now but they get but again that’s part of my vision for my future for my boys just said you were talking earlier about.

[40:46] Learning how to do things around the house while I bought this property and I’m going to teach them about you know which end of a hammer to hold in that sort of thing so my concern to you Allison is is specifically you want to buy the house want to flip the house but

are you talk about flipping are you talkin actually wholesaling where you buy at low and you just don’t really do much to accept maybe mow the yard and then turn around and sell it sell it to higher there’s a lot of people.

That want to flip houses that really don’t know what they’re doing so I would definitely encourage you to get in front of Rodger specifically

and say what’s a realistic goal for you to reach I think you can absolutely do it based on that plan but I would rather just caution you on on the properties that I probably should you get to and flipping it and everything okay let’s assume that you know some things about what you doing and you


you can you have the cash to actually put into a flip and I’m just going to assume those things all right since you have this plan now you’ll figure that out if you don’t have enough cash. You can send me another email okay but.

I want to suggest that for your first one or three.

[41:50] You look for light rehab sat best okay but realistically if you spend 10 hours a week.

That means you got roughly two hours a day during the weeks and you have your weekend to yourself I want you to take those two hours to make offers.

And try to make two or three offers every single day until you get that first house okay I know I’m assuming that you know some things about what you’re looking for what the numbers are supposed to be.

But if you this is the thing that happens a lot I see it a lot people coming and I can’t find a deal on how much time are you spending looking for a deal oh my you know I keep my eyes open all the time it takes more than that you have to be a little bit more intentional about it.

Those deals that you see on TV they don’t magically appear those people have invested sometime they just don’t show that part on TV because that’s not sexy dramatic or exciting

that doesn’t make the advertisers burn in their hearts so you know we got a spot to the show.

[42:48] But there is a process of reviewing deals

and making offers on deals and this may come as a surprise to Allison but even as busy as I am I spend a couple of hours a day still

to this day analyzing deals and making offers that’s what an able to enable just so you know sometimes by as many as 10 properties a month okay

for you

realistic goal end of 2020 I think by that time if you follow these formulas and you know fill in the gaps in information I think that you could probably flip three houses within the next year-and-a-half and probably if you’re

if the money works out and you’d have three rental houses and that would be a very good thing you would have come a long way yeah it’s kind of inserting but the the the.

[43:41] You know I don’t know if we’re talking about a paid in full rental property on overtime going to fully leverage rental property and she’s known that down payment okay down payment yeah so I’ll get you ready to see that now so is it down payment I think that that would be very workable I don’t know.

What does What markets like up there in Milwaukee but

yeah but yeah it is it is it hot yeah it’s $30,000 down payment to stay within the requirements to know you got me to walk you over there on the lake.

And it’s just north of Chicago but about 90 miles or so West is Madison and everything in between there’s some Farmland but pretty much as suburbs.

[44:21] Man that area is hot

now one of the thing Allison I want to throw out there for you to think about maybe think about flipping 3 and then using all the cash to buy one rental property free and clear.

[44:32] Music.

[44:41] If you’re a real estate investor you owe it to yourself to get a profile on the fan.

The flipping America Network it’s a flipping America network.com the profile is free if you’re a buyer a landlord a rehabber.

You enter what you’re looking for.

Particularly the ZIP codes of interest you can put up to 10 but we’ve already we’re working now to expand at 2:25.

You don’t have to sit on the app you don’t have to sit on the on the website.

All you have to do is tell us what you’re looking for your profile includes your cell phone number which will verify at the time you register and when a property is posted in the zip code you’re interested in your going to get a text message that says.

Look what just hit the fan.

[45:28] Everyone should register all 43,000 ZIP codes in the United States are included and you could be finding your next property.

Just by listening for your text tone we call it snap click sold because if you are a seller.

[45:47] You can download the app will anyone can download the app and in the App Store it’s called flipping America Network all one word no spaces you download the app flipping America Network and.

[46:00] If the course has a buyer you can search for properties using the app but as a seller you could be at the property negotiating a deal with someone that you want to wholesale you could take a few pictures of the property that’s the snap.

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Immediately that property will get texted to 5:10 doesn’t hundred I don’t know

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ads for Craigslist or other sites just posted in the fan dozens of people will see it it may be sold by the time you get back to the office that’s why we’re calling it snap.

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[47:04] All right yeah we’re sharing a little laughter in the commercial break

okay so you were going to say one of the thing about what I said Allison about maybe just Peyton having a cat I’m wealthy,

concept was something that really agonized over in terms of just knew I was trying to come up with it was almost in its opposite I was talked about being time weary.

What time wealth comes from cash flow.

So if you can develop yourself a a a passive income or mostly passive income type business or you have limited involvement and you’re not the one worried about income generation but you can now focus on life output.

[47:51] If you don’t have a mortgage to pay or you’re not really worried about mortgage Peyton me and you it really saves a lot of bandwidth for you

yep and there’s a whole different thing with the numbers and so far it’s him but we’ve got to move on we got several questions and I went I would like to get a couple more sure let’s see Eduardo and Houston Texas says I’m a short drive from the beach and Shore Drive from some fairly inexpensive rental properties

I don’t have enough money to do both if you were in my shoes what would your preference B I run the numbers in the beach properties could be a little bit more lucrative.

[48:21] Okay so.

What what what was he asking I don’t have enough money to do both he doesn’t have enough money to buy properties at the beach and also he’s a short drive from from some inexpensive I’m assuming.

I know he’s in Houston the beaches east of them and bring the properties or west of them and he’s only going to go One Direction does he go for the beach properties or does he go for the inexpensive rental

police shoot man I don’t know why it’s it’s it’s it’s a little bit difficult and I want to go back to it but your vision is what you’re trying to accomplish here I knew you would that’s why I wanted to have this question on this show.

Yours yours yours

question is what are you trying to accomplish at the end of the day you know you’re you’re there’s a reason you’re looking at this at the beach properties

thinking that you’re maybe wanted to manage those is kind of making maybe an air Airbnb where you’re going to be managing the more on a daily type basis rather than a than a weekly or monthly type basis you know if you’re looking Inland where you can.

Set this on autopilot I don’t care what it is that you do I would want you to not create a job for yourself that’s the biggest thing so I bought them to look at either one of these things what is going to be your time.

[49:30] Allocation for each and that’s

1 reasons why I’m not a big fan of the Airbnb model there’s plenty people who do Airbnb great don’t get me wrong I don’t think it’s a bad investment I just want to create a job for myself so it what what what I would say to you is what is going to take the least amount of time for you to operate these and how can you set up a vision temperature process around that

yeah whenever I do the Airbnb and I was hoping to do something this year.

I got somebody else I’m just going to pay to manage all that’s right yeah alright the one thing I want to add Eduardo is.

[50:02] The economy is great right now but nothing last forever.

And Corrections always happened do you know the economy goes in Cycles the housing market also goes in Cycles but.

There is a little bit of volatility there and when the economy goes bad and you don’t want to these days it will I don’t know if it’s going to be next month I doubt that but when it does.

[50:24] Beach properties get hit vacation rentals that market dries up and if you have debt on those properties you may find yourself in a world of hurt.

I try to let you know again going back to what your long-term vision is I I kind of think that if you want something at stable for a long-term future everybody has to have a primary residence

but not everybody has to vacation at the beach real fast on that one. The thing that I

you you hit the nail on the head when when we go into recession when the economy goes into recession what gets hit versus hotels and Hospitality product and that’s what Airbnb is.

First and foremost is it is a Hospitality but business it’s not really real estate business so I know we’re making an assumption hear that you’re looking at doing it as an Airbnb but I agree with Rodger I think you need to look at the long-term holder.

Okay Cindy from Chattanooga Tennessee how do you decide whether a town is too small to flip a house well this is loaded outside of my bailiwick but.

[51:23] You know I I I think realistically this is a great example of a house that I’m doing right now and Seymour Indiana

and we’ll talk about that is ironic that you’re had this question for me but how big of a town is Seymour Indiana. Big but the thing is it’s a lot bigger than I thought and as I drove through the town

one of the things I saw was a brand new school brand new brand new elementary school and I was like okay well that’s that’s not too bad and as I looked around the town

it’s got a regional hospital and I saw well what is that built next to the hospital or what’s being built next to the hospital that’s actually a 40 million dollar Hospital expansion now Seymour is not a very big town Seymour Indiana that’s Seymour and,

as I’m looking here I’m driving down to town.

And I’m looking at the type of infrastructure that that town has and I have to tell you originally I was a little bit hesitant to invest their butt.

I think what you really need to look at is where the smart money is playing and what

what type of infrastructure. Town has a population figure so much but I would really look at the end of structure that’s what’s important to me that’s that is good now. I just left the house in the town of Glen Fork West Virginia.

[52:35] Not on my bucket list no I think maybe there’s three hundred people that I don’t really even know no disrespect but sending my decision there was I bought the house so cheap I couldn’t say no.

I mean it was almost how could you lose money when you buy houses cheap so I think that they think the infrastructure is a good thought I think the numbers also are a good thought because.

You know it doesn’t really matter how small a town is there are people that kind of want to live there but now as a general rule.

[53:08] I avoid buying properties in towns were the only people moving there are people who are moving back home to get close to Mama that’s one of my rules.

However if I can buy a house for less than $10,000 I’ll buy that almost anywhere right yeah it’s kind of hard not to make money at that all right Barry and Macon Georgia says we have some some areas here in downtown Macon that really need revitalizing.

I believe I can help with that by fixing up some of the houses we could make a positive impact let my contractor doesn’t want to work down there any suggestions.

Oh man well if a contractor doesn’t want to work down there that’s going to be tough and and you know you want you don’t want to have to necessarily go into an area or you have to have a marine rifle Squad behind you checking your six

so I don’t know who this is.

The juice be worth the squeeze on that I mean that you got a different thought I got a vision answer on this is your vision to do charity workers your vision to make money in a business that’s exactly react right answers if you get down there and get to working on these words on Center know that.

[54:12] 10th and Berry I appreciate it in Meijer where you’re coming from a think I know where your heart is you want to make a positive difference and that’s a good thing and I see people that

I watch the TV shows and get in love with the romance of taking something old and making it new and beautiful again and all of that is great but this business is not about romance in this business is not a charity.

This business is about making money you have a fiduciary responsibility to yourself to your family and to the people who might invest in you to make sure that your projects are profitable first.

I think I would suggest that you look at some different areas now I’ve actually done 25 houses in Macon and I can tell you the areas where I would and that’s basically north and west of the city and I would stay out of downtown

after you have established yourself and have money to burn and you want to do some charity work then think about taking some of those inner-city houses how’s that.

[55:07] Baltimore from Boulder Colorado people are crazy know prices are crazy here anywhere near the campus what campus is in Boulder Colorado.

That would be University Colorado of course go buffaloes what would you suggest to people with a with a bit of money but not enough to do a $600,000 loan.

[55:26] That’s a good question

that is a guy but I received a question before so I’m going to throw it off to you not exactly a lot in the Indiana Market where there is.

We have a lot of investors from the West Coast that are putting a lot of money into the Indiana market and really anywhere in Indiana Indianapolis Lafayette

the Bloomington that was Market just because you can get so much more house and not in there that there are those local markets and you can and where they’re actually living in a day

they tend to do pretty well it when you’re looking at the spreads terms of the of the 1% rule for example so

what I would suggest to you is start looking outside of your area because it I know real estate it’s nice to say you’re driving by that house and go out I own that but

again this is not making money and that’s why I go back to your vision like will why do you feel that you need to

buy a property near campus what is that that’s trying to what are you trying to accomplish there and there’s lots of different ways to get into the into real estate doesn’t is so I have to be in your backyard I think that there’s not much in Boulder close to the campus exactly

well alright and I would add to this.

[56:44] You know I’ve looked and we actually did some research in Boulder not too long ago to answer another question and I think I answered it on the air I don’t remember now but I know those are the kinds of numbers that you’re looking they’re all tomorrow and I understand that but there’s money to be made there to,

if you can’t handle the loan you can’t handle alone so you do need something else to do I want to recommend the resource for you.

. l y / inexpensive homes and.

You can participate with me and some of these inexpensive houses I’m buying in places like Glen Fork West Virginia and maben Mississippi and we can partner on tomorrow wholesale them to you in and teach you what I do with them.

So that’s an option another option is to find someone that’s fixing and flipping in a lower-priced area like in Indianapolis or.

Like Gary Indiana I’ve got a friend up there that’s just knocking out of the park and they’re always looking for money Partners okay so I did suggest that you start.

[57:40] I’m putting some feelers out about a money partner and also we’re about to run out of time on the show for today so here’s another thing going off the altimore go to my website Roger Blankenship. Com.

And scroll to the bottom of the home page and click the button for a free strategy session let’s let let me give you 30 minutes of my undivided attention to.

[57:59] And make some specific recommendations of some people you can you can speak with and.

Tell you how to vet them so you put your money in the right kind of project and also the right kind of people all right Lamarck I got your question.

Will get to you on the next show with that music means we are out of time for the day mark dolfini thank you for joining us as awesome thanks so much and you all can find him on landlord coach.com that’s landlord coach.com,

but you definitely need to hear from this guy you need to spend a couple of days with him and let him add real value to your life so folks will say goodbye for now we’ll see you very soon.

[58:36] Music.

[58:49] The day comes from Mark delfine himself there is no amount of money that makes time it relevant.

[58:56] Thank you Mark for that and this quote is brought to you today by the foundation for Renewal working together with communities across the country to bring the lasting light change and impact.

Find them on the web at renewal fund. Net and is always your gift in any amount this tax deductible and very much appreciated will see you next time.

[59:15] 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 two questions at flipping America network.com.

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