Flipping America 543, Ten Ways to turn $1,000 into $10,000

podcast 543 10 Ways to turn $1000 into $10000


If I handed you $1000 what would you do with it? What if I could show you how to turn it into $10,000 in less than a year? That would be great right? Well today on the Flipping America show, I’m going to describe TEN different ways to do this. That’s great times ten, right? Is this a great show or what?

How to contact us

www.RogerBlankenship.com. Leave a voicemail right from the home page!


Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 877-55-ROGER (877-557-6437)   ext 1. Leave your message or your question. 


Flipping America Funding : Get the money you need for your business, for your training, for infrastructure, and for your projects. Flipping America Funding is your one-stop shop for all of your business funding needs. FlippingAmericaFunding.com. 

 Legal Shield


News and Resources: 

Mindset Moment: 

Ten Ways to turn $1000 into $10,000.

  1. Wholesale
  2. Option
  3. Lease with option. 
  4. Subject-To
  5. Equity Partnership
  6. Contract For Deed
  7. JV Partnership with seller (use EP or PM loan for repairs)
  8. Private Money Loan
  9. Mortgage Wrap
  10. Tax Sale

Starr Has Questions: 

  • Adnon, Long Beach CA, “Do you always hire a GC? What if the repairs are minor?”
  • Brenda, Elizabethtown, KY “Do you ever just do the work yourself? My husband and I kinda like doing the work and he’s good at everything.”
  • Ellen, Milwaukee, WI. “My husband and I just sold our home to downsize and we are trying to figure out what to do with the money — over $200,000. He’s semi-retired, bored, and handy. We’ve thought about flipping some houses. What advice would you give us?”
  • Kandra, Las Vegas, NV “I recently attended a seminar here put on by [a TV personality]. I felt like it was just a sales pitch for a $20,000 course. But I was here for a course and really didn’t learn anything. I’m concerned that if I paid the $20,000 I might not learn anything there either. And I don’t have $20,000 anyway. So I didn’t do it. But I’m back to square one. I really want to learn this business! I don’t have any money and my credit has a few dings. Is there any hope for me?”
  • D’Wayne, Louisville, KY “How do you decide whether you are going to fix and property and flip it, fix it and keep it, or just wholesale it? I figure there must be a way to figure out the best thing to do with a property. I have a deal under contract for 72,000. It needs updating and paint and carpet. I think I’ll get $150,000 for it if I flip it. Or I could rent it out for $900 per month. But another investor just offered me $10,000 for my contract. What would you do?
  • James, Lancaster, PA “I’ve been researching various REITs and crowdfunding platforms. REITs seem like less involvement from me, which I prefer, but the returns I’m seeing are at best around 6%. With crowdfunding I can get closer to 10% on my money but I have to be a bit more involved. While I’m thinking about it, do you have other options you would recommend?”
  • Ellen, Villages of Ocala, FL, “We are trying to maximize the returns on our self-directed IRA. We started a little late in the game and don’t really have enough money in there to buy and flip a house. Any suggestions?”
  • Karenza, Long Beach, CA “I want to dive into buying rental properties here in southern california. My question is, am I too late?”
  • Britney, Penn Hills, PA “My husband and I are finishing up our first flip — so exciting! We are having a discussion about interior paint colors. Our property is in an area that has a lot of investor activity with trendy styles and colors. I want a bold color scheme, but my husband wants builder’s beige. Can you settle the debate?”

Quote of the Day

There are two in life over which you have complete control: Attitude and Effort.

Expected Air Date: Wed 8/17/2022


[0:00] If I handed you a $1000 what would you do with it.

[0:05] Well what if i could show you how to turn it into $10 thousand in less than a year.

[0:18] Music.

[0:28] Show that teaches you how to make money in real estate wherever you are whatever your situation there is an opportunity for you and now here’s that flipping America guy Roger Blankenship.

[0:41] And we’re back.

[0:50] Alright, thank you Kathy and hello, America. We are back and we’re I’m Roger, she’s star.

And we’re here to talk to you today about 10 different ways that you can turn a $1000,

In the $10 thousand in less than a year I know that sounds too good to be true and the things sound too good to be true they usually are but we’re talking about real estate investing here so.

Things can actually end up being.

[1:26] Over and over and over in hundreds of times and so yeah,

Alright, I like doing the show with Starr. Tell them about how to find you. You guys can find me on social media, Instagram, and Facebook.

Real estate is life Atlanta. Now, if you if you want to ask your questions directly of Star or if you wanna just chat with her or visit with her or whatever.

Can’t say that I blame you. So, just go ahead and reach out to her there. Real estate is life Atlanta. If you wanna follow the flipping America show on social media,

If you have questions about real estate and real estate investing,

Send them to questions at Flipping America. Net and we know that several of you are waiting to hear your question on the show. You already have received your written answers to the questions.

We keep track don’t worry we’ll we’ll eventually get to all of them we may do an entire show of just questions before it’s over with.

We have been planning to do this show for a little while we’re gonna talk about the 10 ways to.

[2:35] Turn a $1000 into $10 thousand,

Get the money you need for your business, for your training, for infrastructure, and for your projects. Flipping America funding is your one-stop shop for all of your business funding needs.

At Slipping America Funding. Com.


[3:11] OMG.

With questions so far but some of this is going to seem kinda basic if you’re a real estate investor but the the easiest way to turn a $1000 into $10 thousand is to do a wholesale transaction. Now, if your brand new,

I will tell you a wholesale transaction in real estate is

A nice low price solo that you could assign that contract to a cash investor who’s actually gonna take over and fix the property up and sell it and you get what’s known as an assignment fee,

And that assignment we can be 10 1000 it can be 15 1000 it can be a lot of different numbers,

If you need to go to a closing like if you’ve got a property to say.

One of the things that we do in one of the businesses that I never talk about here on the show is we have a virtual wholesale company that just throws out offers on hood houses across the country all day every day in multiple states.

And when we win one of those.

[4:30] And but we immediately start looking for someone else to actually take over the project. Now, I buy a few of those myself and flip them but most of them, we turn over to other people and we’ll make it $10 thousand assignment fee.

[4:44] And.

[4:50] Oh no it’s a hard deal we’re we’re going to a realtor and a contract and everything,

A 1000. A $1000. That’s right. We put down a $1000 and then we turn it into 10 1000 or more a little bit. We try to get 12 15 1000 but that’s method number one,

Learn how to do wholesales.

You’re going to see some other opportunities as we go through this to get some contracts and assign them like you do that’s why I started with wholesaling.

So you,

Ride around and you look for property in fact we were doing this just over the weekend,

Her daughter, my stepdaughter.

There was a property she inherited.

[5:53] Would you say your last name was,


And i know what’s going on on the other side of this property this.

[6:28] If I were in the mood i would be pulling over and stopping these farmers right here knocking on their door and ask if they want to.

Sell their farmland to me but what the way I would buy it as I was give them an option.

I would an option is,

To buy at peace property in the future and in stock options work this way too let’s say I talked to farmer Bill here and he’s got 100 acres and he wants a one 1 million dollars for it okay.

I will give you a contract and buy this from you for a one 1 million dollars a year from now.

[7:11] And I will pay an option fee and and for the sake of today’s illustration the option fee will be a $1000.

I go up the street and find the developer that’s building the subdivision there,

And I talked my way into talking to a decision maker and say hey,

I’ve got an option on some property just south of here if you want to start your next development and maybe they’re not interested because they’re in this one but I’ll keep on going till I find a developer that wants to take it,

Now my option price is a one 1 million dollars so my price to you is a one 1 million,

And there we just turned a $1000 into $200 thousand. Whoo. And that actually happens.

People do this, okay? Now, when I said this to my wife the other day, she’ll say hour too far on the country. We didn’t go a quarter from a mile and I said, look over there. There’s the tractors. They’re,

At Grayden and that said visionary had two entrances in it and then we went a half mile after that and we crossed the county line and then we were in you know familiar territory where we’d seen all the development,

But that is definitely a thing to do the first book I ever read on real estate investing with this is what it taught,

Get out in the path of progress,

So another thing that you can do is a variation of this you can do a lease with option.

[8:39] I’ve I’ve done this before multiple occasions people,

They were sick of this property reluctant landlords. They got you know they got transferred. They moved away. They couldn’t get the house sold before they moved and so they turned it into a rental that didn’t work out very well. Most people who don’t intend to get into the landlording business.

It doesn’t work out very well and so.

I will put in writing.

Hey usually would say 2 years.

And in the meantime, I will pay for all of the repairs, management, and maintenance of this property. You’ll never have to touch it again. It and I’m gonna give you a this amount for the rent and.

[9:32] It’s good. They love it because all they ever wanted was a problem for your rental, right? So, I give them a problem for rental and I give them a future price but,

Is maybe slightly less than what the house is worth today because,

It needs a little bit of work and they understand that it needs a little bit of work and when I quote that little bit of work to them I quote retail price is even though I get it done for a little bit less so if if the retail price on fixing this house up,

Would be $25 thousand.

Then I would reduce the price of the house and say it’s a $250 thousand house. So it needs $25 thousand worth of work. So I’ll give you 225 1000 for it.


With a.

[10:36] Love it. Okay.

And I want them to give me a down payment of what’s the amount guess.

[10:52] 10 10 1000 that’s because we’re turning a 1000 into 10 1000.


[11:09] That’s some money right there. Yeah, I’ve done a bunch of times. And it can do it.

You come to a property owner who just needs to unload their property and,

So they they really can’t sell it because they they can’t pay the commission they can’t afford to go to the closing and write a check and they just want out.

[11:42] So

Pete their monthly payment.

[12:01] I will be happy to take this house off your hands and I’ll give you a $1000.

And just so that you can, you know, start the next chapter in your life. You got more than you would if you tried to sell it.

They’re happy. We go through a closing. They turn over the property to me. We leave the loan in their name.

But they turn over the property to me I mean it for a $1000 I put somebody else in there and i collect that $1200 first and last month rent plus a $1200 security deposit that’s what I just did.

You just made what? Well, that’s just $2400.

So, then, if I, if I need to turn it into 10 1000, I probably would go back to put it out to them with a lease option because now, I own the property subject too. I knew what I want with it.

So, I have them do a exercise a lease option with a $10 thousand down payment.

And that’s way more there. Yeah. 24? Yeah. We do the same thing we did before with the lease option. You can do this with a subject too as well.

You can buy subject two and sell subject to but you can buy subject to and sell it with at least with option.

[13:13] Number five is contract for deed and it’s the same thing.

And I I know I skipped one in here. I’m changing the order as we go. So, if you’re reading the notes, I don’t know if you’re reading the notes but,

Number of years and then the property is yours I don’t really suggest that you buy with contract for deed although I have,

It is good to sell with a contract for deed.

Especially if it’s in an area that you don’t go to very often. Let’s say you have a long distance relationship with this property and you don’t wanna manage it as a rental and go back and have to make repairs and,

Do the maintenance and all that stuff. You can do a contract for deed and the contract states that they have the responsibility for the repairs and maintenance. And this can be enforced because that contract gives them a form of equitable title in the property

With that there they can be required to maintain the property if it’s just a lease,

Fair housing law say you can’t require tenants to repair and maintain your property.

But the contract for deed is different.

[14:39] We’ve been talking about collecting monthly payments. Well, we’re gonna take quick break ’em when we come back. I’m gonna talk to you about some ways that you can actually do full, fix, and flips.

[14:55] Although my show is called Flipping America i don’t believe flipping houses is for everyone.

[15:03] But I do believe that everyone including you should consider real estate as a part of a balanced investment portfolio.

We’ve documented at least 86 career pads in real estate and real estate investment most of these have variations within different asset classes and strategies I honestly believe there are more than a 1000 ways to make a one 1 million dollars in real estate one of them.

Probably right for you.

I’ve also seen some of the people who failed at one thing do really well at a different thing and I’ve started noticing patterns among people who do well so,

Couple of years ago, I started building profiles of successful people in different areas wholesalers flippers, builders, rental investors, and lenders.

What we have learned is that successful people in,

Area tend to have certain characteristics and life situations those who lack those quality struggle and usually don’t do well.

[16:03] Or what if there was a way every person could figure this out before they begin?

This thinking led me to the find your fit course available at Flipping America. Net forward slash,

In just five easy lessons you’ll take stock of your life and perhaps pursue the best fit for your real estate career you can take the course at flipping America. Net forward slash.

[16:33] Music.

[16:47] Alright let’s get back to the topic here and that is we’re talking about 10 ways to turn a $1000 into $10 thousand.

And we’re down to number five. Number five is what I call an equity partnership.

An equity partnership is where you recruit someone who has the cash to put up all the money for the deal you do all the work and you split the profit 50 50.

Does that actually happen? Well, yeah, it does. I did my first 500 flips that way,

And I still do it that way today.

I like it that way I like I like using other people’s money for the flips and put my money into cash flowing properties.

[17:42] Number six.

Oh I’m sorry. That was number six. I did contract for deed five. That’s where I changed the notes around. So we have just completed number six. Let me review them for your wholesale.

Option lease with option subject to.

[18:07] Okay and in this case you would use another source for repairs that you might need.

They don’t have the money to repair the house and you don’t really have the money to repair the house and sometimes you don’t have to spend $2000 here to get into agreement,

To the situation but you’ve got an investor that will come in and put up the money for the repairs you take over the loan payments and maybe the loan payments will lead up your $1000 so what you’re gonna do is,

You’re gonna agree to share a portion of the profits with the seller when it closes. You write all this up and if you need,

View your attorney can actually make it illegal agreement,

We’ve got sample joint venture agreements you can get from us if you play your cards right but this is a joint venture agreement with the seller.

[19:02] Number eight.

Because the private money lender is going to cost you less than an equity partner.

A private money lender may want a return like 10 or 12% on their investment which compared to the other things they could put their money into is a pretty healthy return. The difference being,

You don’t have all of their money deployed all the time so if you have your money deployed and continuous use like an in a stock fund or something that’s making a percent,

It might do just as well as a 12% private money loan because they’re only making 12% while the money is actually out there in use. However, that’s not your issue. You can offer to pay them 12% and you’re still gonna come out fine,

Better than if you.

[20:07] This is so strong

And if you know your numbers if you know that you’re all in cost you’re gonna be 65 to 70% of the ARV you can afford to borrow enough money from your private lender to not only to cover the cost of the project,

But also the interest payments.

And there may be some variations,

So you could borrow 100% of the,

Of the project cost and not be out of pocket even ¢10 much less $2000 and you’ll make a lot more than 10 1000 if you have the right kind of deal and you do the deal right.

[21:01] Number nine.

This is similar to the subject two method but this is where they have an existing mortgage that you’re gonna take over but they also have a lot of equity and you don’t wanna spend 25 or 50 or 80 $1000,

But you give them a down payment of say a $1000.

[21:22] Then.

Ahead of time because the combined payment what you’re paying the seller in monthly payments and what you’re paying on the mortgage needs to be less than your rent payment unless you’re gonna flip it.

[21:43] Hey that’s the case once you have control of the property and,

Or a more gonna greet or more trap. They don’t wanna 10 or 15 or 30 year commitment. But they might do it for a year or two if they can get their price. If they can make a healthy return on their equity for say 24 months.

Yo, guarantee at least 24 months of interest and try to move it out and within 12 to 18 months.

In the first few options.

Particularly the least with option you try to get somebody to come in with a nice $10 thousand down payment.

That’s gonna make you some money.

[22:39] So, that’s the mortgage rep. And then, number 10 is the tax sale. Now, no, I might be fudging a little bit here because tax sales can cost an awful lot more than a $1000 but,

I can also tell you that I have bought tax sales for less than a $1000 here and there.

And you’re not gonna often find tax sales that will go for less than a 1000 but I wanted to give you 10 not nine ways so if you could find a tax sale where you can buy the property for less than a $1000 on a tax sale,

Then you could easily turn that into $10 thousand or more once you gone through the process.

[23:14] Another thing that you can do is you can use a partner’s money or an equity partner or a private lender to go to the tax sale,

It’s it’s all the same thing. It’s just a different way of finding the property. So, there are 10 ways to turn a $1000 into $10 thousand and.

Somebody hand you a $1000 definitely do not go run out and buy new clothes or take that vacation you’ve always wanted,

Look at these things these options I’ve given you in this show and figure out a way to turn that 1000 into 10 1000.

Then maybe take each of those,

Now you’re talking about some money and at the point you’ve turned it into $100 thousand you probably ought to,

It’s probably okay for you to go ahead and buy some clothes. Just keep in mind you’re gonna be spending a lot in taxes but,

This the point of this show is not to tell you how to spend your money. The point of this show is to tell you that you can take a $1000 and turn it into,

$10 thousand. Now, we got a few minutes left and I have a long list of questions,

And so I’m just gonna dive right into them add on from Long Beach California do you always hire a general contractor what if the repairs are minor.

The answer to that Edna is no I do not always hire a GC.

[24:44] Your requirements in Long Beach are gonna be different from my requirements in Georgia in terms of permitting requirements.

Where you are you may have to permit just about anything that you do,

Where we are we have to get a we have to pull a permit for things that affect the structure wiring or plumbing or HVAC,

Any of those things like a verb replacing kitchen cabinets and countertops we don’t have to permit that

And if we’re just painting the house inside and out and put new floor coverings on we don’t have to permit that and some states are even,

Add even lower permitting requirements than Georgia. You just have to know your state and local municipality building codes and what you had to pull a permit for.

When we have to pull permits then we need a general contractor typically.

If we’re not a known or occupant Georgia requires us to have a license general contractor I think it’s a stupid law,


[25:58] It’s not likely to changing time soon just because you know we don’t like it.

I suppose,

That’s there’s a story behind that but.

[26:24] I don’t have any problem hiring a handyman and I don’t have any problem running the scheduling of a job myself and scheduling out several subcontractors if it’s not a major job.

So, hope that answers your question. Brenda from Elizabethtown, Kentucky, do you ever just do the work yourself? My husband and I kinda like doing the work and he’s good at everything. Alright. Well,

To each their own.

And I will tell you, you know, you’ve already heard me say, I don’t do my own work anymore. I know how to do most everything to a house. I don’t do my own work because i had a vision,

Of growing a business and I couldn’t grow the business if I was down in the weeds you know doing all the little things,

Itty bitty things I need to be out finding the next deal and and raising more money and and doing the things that I needed to and the other thing true.

I am fairly OCD and I want everything neat orderly and done correctly and so forth and so on but that means that when I’m doing a repair on a house I may have to it takes me longer and I’m not as good at it as a pro.

[27:34] I work side by side was one of my contractors 1 day refinishing some cabinets and,

He had three cabinet doors stripped in and ready while I was still getting set up,

It would not be wise for me to try to make a living do my own repairs. On the other hand, I have friends who are landlords,

And enjoy making the repairs on their own properties they get some a chance to kinda look the property over and know they’re tenants real well and they got a life that they like and it’s just perfect for them,

And if that’s it sounds like that could be the thing for you Brenda and so you just go right ahead.

[28:19] Let’s see if I can get one more. Ellen Milwaukee, Wisconsin, my husband and I just sold her home to downsize and we are trying to figure out what to do with the money. Over $200 thousand.

The advice I would give you is the advice I give everybody that comes to me and asks me about this.

I love living houses and i I think it’s a great way to make some money if that’s if you don’t mind putting the work in to making the money,

If you don’t wanna work anymore and just one passive income flipping houses isn’t the thing you should think about buying rental houses,

But if you’re going with whichever way you’re gonna do, I suggest that you get some information, follow up proven path,

And get a mentor or a coach to guide you or maybe find somebody locally to partner with on your first dealer to while you get to hang of this.

And we are running out of time but Star loves this quote so I’m gonna let her say it today.

[29:14] There are two in life over which you have complete control,

You’ve been listening to the Flipping America show my friends she’s star I’m Roger thank you so much for joining us and we’ll see you soon in the meantime you know what to do keep your eyes open.

You’ve been listening to Flipping America real estate investing for everyone. Listen three times a week on stations across the country

Or on the flipping america app free in the app store be sure to like us on Facebook find and follow us on Twitter and Instagram and keep your eyes open.

[29:50] Music.

Leave a Reply