Expected Air Date: 8/23/18
It’s all about real estate investing technology. This allows us to do more, with more speed and efficiency than ever before.
We’ve had great feedback from the home technology show with Don DeRosa. If you missed it you can still listen to it both on the Flipping America App, where it is show # 147 or watch the video of the interview on our YouTube Channel. But we continue to get questions about technology, not just the technology we put into our properties, but the technology we use to make our businesses run and work.
A little later on, I’m going to answer that question for you and tell you about the technology solutions we use here in our business. And I’m going to answer a question we get quite often: “How do you send out social media messages all day long? Do you have an employee that just sits there tweeting thing s out?”
Fannie Mae and Freddie Mac are out with a new loan product this month which I believe will have a significant impact in 5 years and that impact won’t be a good thing. But take heart investors! With every dumb decision followed by inevitable loss and heartache, there is opportunity for someone. I’m going to break down the news, tell you what’s going to happen, and prepare you for the fallout.
How to contact us
Twitter and Instagram @FlippingAmerica
We now have a profile at houzz.com for what it’s worth.
Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.
- The Flipping America Mentoring Program, August 28-31, Sandy Springs, GA
- Menternship Also.
- Ten Deal Sources explored and explained.
- Complete Deal Analysis.
- Finding the re-sale value of any residential property in the U.S.
- How to estimate repairs from your desktop.
- How to finalize a repair estimate through a site visit.
- Structuring your business for effectiveness and asset protection
- How to set up a web site for your business.
- Understanding the various ways to get your deal funded.
- Learn creative deal structures.
- The mini-course in negotiating
- The full course in renovation.
- How to find, vet, and hire contractors.
- How to manage the process
- How to solve the inevitable problems that arise.
- Learn how you could get your deal 100% funded – not just your next one, but every deal you ever do from now on.
- Get all the forms, the documents, the checklists, the procedures
- Get the scripts for your conversations
- Hiring questions for realtors and contractors
- Answering the phone
- Talking to sellers
- Build rapport
- Get key information
- Learn motivation
- The course comes with on-going weekly group coaching calls
- You also get one-on-one guidance through your first four flips.
- This is the three day dive into a year’s worth of training and guidance. But our commitment to you doesn’t end in one year. We are with you at LEAST through your first four flips and definitely until you have more than doubled your training investment.
- What is the investment? What is reasonable? Let’s talk about $50,000.
- The cost is $12,967, but if you use the coupon code “radio” your cost is $9,967.
- Go to www.flippingamericanetwork.com/Mentoring and sign up today. We only take about 10 people per class and several have already signed up. There’s just a few seats left.
- Menternship Also.
- Lunch with me every Wednesday.
- Monday the 27th of August, speaking at the West REIA, Cherokee Cattle Company, Marietta, GA
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
Questions@flippingamericaradio.com Tell us where you’re from!
- Vincent, Macon, GA, “It seems that all the great deals are in a bad part of town. Is that true everywhere? How do I make any money there?”
- Elise, Port St. Lucie, FL, “I really liked the show you did on smart home technology. Can you talk a bit about the technology, programs, apps, and other solutions you use in your real estate business?”
- Stephen, Boulder, CO, “Can you explain the difference between cap rate and cash on cash return? What should I be looking for when buying a single family rental?”
- Sherry, Sebring, FL, “What are the key steps when buying a flip project in another town?”
- Lynetta, Jackson, WY, “We want to bounce back and forth between Jackson and Austin, TX, you know, avoiding the weather extremes but getting in some skiing when we want, etc. We are both in our mid 50’s and our question is should we buy something in both places or just do longer-term rentals? We could pay cash for both places, but can’t help but wonder if our cash is better off elsewhere.”
Motivational Thoughts for the day
- “People often say that motivation doesn’t last. Well, neither does bathing — that’s why we recommend it daily.” — Zig Ziglar
[0:28] Thanks for flipping America the show that teaches you how to make money in real estate or wherever you are whatever your situation there is an opportunity for you.
Flipping America is brought to you today by Braswell Capital Solutions commercial lending made easy
on the web at Braswell Capital solutions.com and now here’s that flipping America guy Rodger Blankenship.
Thank you Kathy a while back we had a show with Don DeRosa from Atlanta Georgia talking about.
The technology to put in your home to make it a smart home and Don showed us and and actually demonstrated force on a if we we did a YouTube video out of the show he demonstrated the equipment that he puts in home the feedback from that was great
if you missed it you can still listen to it on the flipping America app.
[1:22] Where it is show number 147 or watch the video of the interview on the YouTube channel all you got to do is go to YouTube and look up flipping America quick on her Channel and.
You’ll see it there just the search for the dawn to roast a video we continue to get questions about technology but not to text not just the technology we put into the.
Properties but the technology we use to make our business run and work.
Fair enough so a little later on I’m going to answer that question for you and I’m going to tell you about the Technology Solutions we use here in our business and I’m going to answer a question that we had quite often
how do you send out social media messages all day long do you have an employee that just sits there tweeting things out that would be nice maybe but no that’s not what happens we’re going to
that’s covered in the technology talk as well.
[2:11] Coming up in a few minutes Fannie Mae and Freddie Mac or out with a new loan and I’m going to devote some time to this day they they each have a loan product that I believe is going to have a significant impact in the mark
especially in 5 years when we start seeing a bump up in the Foreclosure right that impact is not going to be a good thing but take heart investors with every dumb decision followed by inevitable loss and heartache
there is opportunity for someone and.
You know I don’t think we can stop what’s about to happen but if it there’s going to be opportunity for someone I want you to be that someone.
Okay I’m going to break down the news tell you what’s going to happen and prepare you for the fall out now look I am not predict
eating a huge crash as a result of this but I do believe that these loan products are apricots sure to worse maybe they’re the Gateway loans that lead to worst products but even these are going to be bad enough.
[3:11] We’ll talk about it in just a minute probably right after the first break I need to give you some ways to contact us you can always find us a flipping America Network
dot-com that’s flipping America network.com a page full of resources and you can listen to the show their you can also listen to the show on our free app just look up flipping America in the App Store
but in addition to the ability to listen to the shows we’ve got helpful videos we’ve got news we’ve got to RSS feeds right there on the main page keeping you up-to-date with what’s going on about real estate around the country and around the world
you can also find us on Facebook when you get the Facebook just look up
flipping America media and you will find us there and on Twitter and Instagram and Google + LinkedIn just look up flipping America you’ll find us.
Flipping America on the Twitter and Instagram feeds and on YouTube you know flipping America LinkedIn flipping America and we’re on houzz.com we’re on Pinterest and we’re on I don’t know what I’ll wear on butt
we’re on seems to me like we’re on everything and I know that some of you are on nothing and you just would like someone to talk to and that’s fine couple ways you can talk to us the way that I recommend most is
yeah but you do have to go to the website but at the website on just about every page at the top there’s a big blue button that says click here to schedule a strategy session when you schedule at strategy session.
[4:39] We’re going to sign up for a free 30-minute called it’s all about you we’re going to ask you what you’re up to what you looking for what you want
and what’s your experience is it doesn’t matter look we’re not going to try to sell you anything on that call it is a free service that we provide and it doesn’t matter what you’re looking for if you want to be involved in real estate investing I want to find your fit.
[5:00] Call can be a good first step for you to figure that out now.
As an added bonus I take some of those calls still myself yeah we’ve got some others here on the team that are trained and take the calls but I still jump on there from time to time and so who knows you might be scheduling a call with me the flipping America guy so just go to flipping America
network.com and touch the blue button
and click on that and you can schedule a call another thing you can do this doesn’t automatically get you a connected to a live person but if you just want to leave a comment or ask a question you can call anytime day or night for 04
369-1018 extension 1.
And leave your comment or question that’s our national comment line and we always love to hear from you we don’t play too many of those questions and in fact most of the time we’re not getting questions what we’re getting your people just calling to thank us for doing the show
and that we love those comments and it really makes our day when somebody has something positive to say about what we’re doing and
makes us feel good about all the effort you’re putting into this okay speaking of effort coming up on August 28th through the 31st here.
[6:14] Home office in Sandy Springs Georgia we are going to do our 3-day deep dive course into real estate investing
during this course we’re going to talk about the 10 deal sources explored and explained will teach you how to do a complete deal analysis
we’re going to talk about finding the resale value of any residential property in the u.s. how to estimate repairs from your desktop how to finalize a repair estimate through a site visit
how to structure your business for Effectiveness and asset protection how to set up a website for your business understanding the various ways to get your deal funded.
Learn creative deal structures the mini course in negotiating the full course in renovation then cludes how to bet.
[6:59] Find and hire
contractors how to manage the process how to solve the inevitable problems that arise learn how you can get your deals on hundred percent funded not just your next one but every deal you ever do from now on.
We give you all of the forms the documents that checklist the procedures and we’re going to give you the scripts that you can use in your conversations you’re hiring questions for realtors and contractors what to say when you answer the phone how to talk to sellers build rapport.
Get the key information with a key information is and learn your kind of figure out what their motivation is.
The course comes with ongoing weekly group coaching calls not for a week now for a quarter and not for a year but forever.
[7:43] That’s right you to sign up one time and you can be on the coaching call every single week from now on you also get one-on-one guidance through your first four flips.
And I probably the best thing is
that the 100% deal funding you never have to invest another dime in one of your properties now this is a three-day Deep dive into a Year’s worth of training and guidance but our commitment to you doesn’t end in just one year.
We’re with you at least through your first four flips and definitely until you have doubled your training investment and what is that investment what’s reasonable.
Well look folks we don’t make any secret about it
the cost is $12,967 and I know that sounds deep but when you think about the people that are advertising on the radio and spending a lot of money to get your attention
there you’re talkin 30,000 to 50000 and if you go to flipping America network.com mentoring and sign up today use the code radio it’s only 99 67.
Now my mentor and and training Chief says that I’m nuts to
tell you the price especially such a high price item just on the radios are like this but look that’s the way we roll we don’t have anything to hide we’re not going to sneak up on you and sell you another 20,000 50,000 dollar course not I’m fixing a slipping anyway we’ve got a few other courses.
9967 is going to set you on a path to be fixing and flipping properties you should make all of that back with your first flip all right we’ll be back in just a minute.
[9:45] I know what’s around the corner but you can be confident that you’ll be ready for whatever comes your way Legal Shield and ID shield look out for you so you can get back to living life
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[11:32] And a couple of other announcements we typically have lunch every Wednesday we have a lunch meeting and it’s at the Huey luey’s in.
Sandy Springs sorry had a little blank there in Sandy Springs Georgia to Huey luey’s Mexican restaurant if you’re ever in town on a Wednesday and especially if you come in from out-of-state last week we had someone from Canada
so I bought his lunch if you come in from out-of-state and let me know that you heard about us on the show I’ll buy your lunch how about that alright and.
[12:05] My next speaking engagement is coming up Monday the 27th of August I’ll be speaking to the West rehab at the Cherokee Cattle Company in Marietta Georgia you can check out a little promo video for that on our YouTube channel
but I’m going to be there talking about the contractors how to find them out of that them out of our them in my talk entitled contractor impossible that’s.
On the 27th of August.
And it starts at 6:30 and goes the meeting goes until about 9 and course it’s a steakhouse so you know come hungry.
Alright I mentioned earlier the flipping America app is in the app store and I want you to download it it’s free if you want to be in the real estate investing business.
Or just you know as a hobby and you’re not listening to the show I think you’re doing yourself a disservice
we do our very best to bring you all the information and news you need to make the best possible decisions about your relationship with real estate we don’t encourage everyone to drop what you’re doing and start flipping houses like you see on TV
frankly that’s not for everyone that’s the purpose one of the purposes of our strategy called is to help you find the right fit for you.
For your life situation so download the app listen.
Here are the answers to the questions think about it study schedule a call let’s talk let us help you get connected to real estate.
[13:28] Hi do you want an analytical tool this for those of you that are in the fixing and flipping business I haven’t talked about this lately but also in the app store we have something called the free the property grade app it’s free.
And there is no in-app purchase or upsell and you get to you can use it as long as you want from now on you just answered 10 simple questions about the property and they eat that you’re considering in the app instantly tells you what you can expect to make
your return on investment your return on cash and then the program gives the property a letter grade
based on the proprietary flipping America investment property grade algorithm and it’s an algorithm that I wrote and we developed right here in house turned it into an app for your use and convenience.
It is our gift to you no.
I want to dive into this new story so let’s have our new stinger Fannie Mae and Freddie Mac have announced new lawn products for.
Quote home buyers on a budget.
[14:30] 3% down payment this sounds like a great ideas of consumer but it doesn’t sound like a great idea to me.
Who is the person.
Who only has 3% to put down on a house in other words you’re buying $100,000 house and you’ve got $3,000 put up.
I put aside for a down payment or more likely it’s a $200,000 house and you you’re going to put 6000 down this seems like a great idea
particularly combined with our current relatively are historically low interest rates are not as low as they have been but they’re still lower than they usually are in the market I get it I understand that but I believe that
and then look at some people are probably going to take a little bit of a fence this and I do my best to be inoffensive here we stay out of politics and we stay out of policy for the most part but
here is an example of well-meaning a well-meaning dumb idea.
[15:30] Here’s what I mean if you have someone that can only afford a 3% down payment.
On the on a house on their home.
[15:42] This is a person who for whatever reason and most likely it’s reasons having to do with that person’s habits.
And maybe even their character they have not been able to put aside the money that they need which means they do not have a rainy day
fund they don’t have a reserve they don’t have any margin they are buying a house and their life has to go perfectly for them to not get behind on the loan
well we all know that the odds of life going perfectly you’re even close to perfectly are pretty slim.
So what this means is as a percentage of these 3% down payment homes is going to go into foreclosure.
[16:30] What percentage you ask I don’t know but my friends.
I want to point out to you that it doesn’t take much do you know what the national foreclosure rate was in 2007 when the collapse of the market happen the.
Tremors were felt around the world and we suffered years of mortify decline in housing and
it affected the entire economy and it and it was just a terrible time for those of us who were adults and lived through it it was a terrible time financially in in in the economy what was the Foreclosure rate
during this time 1%.
[17:15] In other words out of every 100 loans that were made one of them failed well it seems like 99% they know that’s an A in school right,
it seems like that should be good but 1% failure rate is enough to precipitate disaster on an international scale
just 1% so we have pretty thin margin of error here folks if we get this wrong and I believe that we are on our way to getting it wrong again
we’re going to see dramatically increased rates of foreclosure it’s not going to happen in 2019 and is not going to be 20/20 but I believe that by the time we get to 22.
R23 we’re going to start seeing up ticks in the rate of foreclosure and.
You don’t mark my words if you’re still around and kicking in and paying attention that point you could say hey I heard of America guy say that years ago and it came out with those loans this is exactly the type of thing that puts.
Always going to sound disrespectful but generally unqualified people into home loans.
[18:20] What you know I I I try to love all people and I want to be good to everyone.
But not everyone is an illegitimate position to own a home owning a home is not a right it’s a privilege and it’s a privilege that comes after you’ve demonstrated the ability to live below your means long enough.
Have a rainy day fun then have enough for a reasonable down payment what is the reason no down payment well that music means I got to tell you after the.
[19:01] Do you want to learn how to flip houses I want to show you how to flip houses and there’s probably no one in the country better qualified than me to show you I flipped hundreds and hundreds of them.
And I also have some training and degree and experience and education so I could show you how to do exactly what I’ve done hundreds of times don’t believe me.
Head on over to flip starter event.com but in the meantime Give a listen to Pat caywood my name is Pat caywood.
[19:27] Cleveland Tennessee and I’ve been.
Doing some flipping since about March of this year and had started with a Nationals program that was very expensive I spent today with Roger Blankenship.
Learning about his program and boy do I wish I’d met Rodger.
[19:49] He has a clear concise program and many tools that are going to be very hot.
[19:55] And starting and managing the program and the mentorship and Leadership and coaching that he saw frame are invaluable.
Thank you so much for Rodger.
[20:59] As we were going away to the break the question that was kind of out there is what is a reasonable down payment for a house you know in the investing world.
When we want to do a project and we don’t have enough cash to buy it we can go find a hard money lender to make us alone and end
we may fight be buying a property that’s so cheap it’s well within the guidelines for example the typical hard money lender is only going to loan probably no more than 65 or 70% of that properties.
After repair value
or a RV so 65 to 70% or what if you get such a great deal you cut it at 50% of a RV that means you can borrow all of the money you need for your project right wrong.
[21:46] The lender is still going to require skin in the game.
That’s the phrase and if you’ve been around this business long enough you’ve heard it I’m sure you got to have a little skin in the game
and usually it’s 10% of your purchase price so let’s say you got $100,000 a RV and you’re buying it for $50,000 when actually they would loan
to $65,000 they’re not going to just give you the $50,000 note
they’re going to loan you now nobody’s really making loans and amounts of slow I’m just using these numbers for illustration purposes too kind of show you as me and spit in this case they would loan you $45,000 quiring you make $5,000 down payment plus you’re going to have to pay a few points on top of that
usually around three to four points origination points you know 1% of the loan amount so.
[22:39] In other words for under $50 is one point and so forth so three points would be in a 450 x 3.
Or $1,354 now that’s why blenders don’t make loans that small they don’t want to do all the work that they have to do for $1,300 in if they did a loan 5 times that size it would be the same amount of work but 5 times
the amount of money but I digress they question I’m trying to answer as what’s a reasonable down payment well in the hard money World they consider 10% of the purchase price as a reasonable down payment and I.
I don’t know but I kind of think that that should be the minimum
everybody ought to be able to put at least 10% down on what they’re going to buy now there are people like Dave Ramsey another’s and I have respect for Dave Ramsey and in much of what he says.
Listen to him off and on for many years and course you know he says you should never be in debt for anything you should pay cash for everything and he he says that they paid off mortgage is the new status symbol okay that’s great and I want to say that for
the vast majority of unsophisticated borrowers and people who are just living life and working a job and doing think that’s the right advice.
[23:56] I also happen to believe that.
[23:59] True wealth is going to be built many times with the judicious use of debt and this is not the place for us to get into that.
I just want you to know I’m not opposed personally to the use of debt but
I don’t think that you should use debt to buy stereo equipment for your home or even an automobile.
But that’s just my opinion now if you can get an automobile 4:04 dancing that’s maybe a different thing but just be aware that they’re building that financing into the price you may be able to get that much money just knocked off.
The the price who knows because you know their suggested retail prices for cars but most manufacturers it’s just a suggestion kind of like the pirate e code.
[24:47] That when we come back to the home I’m going to circle back around to this article I consider this not good news.
I consider it something that just portends I decline.
And the wonderful statistics we have right now about default in foreclosure where at all-time lows and faults in foreclosures and I will say this to.
I meet people almost every day met someone just yesterday
who believes that crash is inevitable and it’s happening all it’s going to happen in the next eight months or it’s going to happen in the next year it’s going to happen by 2020 I hear this all the time I hear it from people who are made
it’s almost like a a reflex reaction you know the market has been good for several years something has to happen we can’t have you no long periods of just uninterrupted good news and
the Innocents they are right but these things follow a cycle for a reason there is there are elements to the cycle that
have more of a cause-and-effect relationship and I don’t think it’s wise to predict the failure or the collapse or the crash just because you know it’s about time for something bad to happen that’s
really not the very good methodology I think that what we really need to do is be paying attention to things like market supply the demand
the prices what’s going on like understand the factors that are driving up.
[26:13] The price is right now and it’s a number of factors you know the low inventory is caused by the high cost of construction I think it’s a government over-regulation for vending a lot of new construction from happening and the lack of
people willing to be in the labor force in the construction industry and the lack to some extent of Builders who want to be out there building affordable homes
and I said before and I will say it again and again if you can figure out a way to make money.
Selling affordable single-family homes think starter level.
Whatever that price point is in your Market if you can make money doing that a fortune awaits you my friend because we’re ever used stick a dart in the map
in the United States there is a crying need for affordable homes
single family homes in people who want to buy them and now these loan programs are going to actually be able to afford them and yeah I’m getting back to that thing.
[27:10] I think is maybe is good news for a lot of people who want to own a home I bet I’m just a little bit leery about what the long-term results will be
all right when we come back from this break I’m going to have more of your questions and I want you to know that we answer every question that comes into the show either on the show or in person through an email.
And so feel free to send your questions about anything real estate related to questions at flipping America network.com questions at flipping America network.com will be right back and we’re going to devote some time to your questions.
[27:51] Are you one of the 70% of Americans living paycheck to paycheck and tired of the stress if so I understand that used to be in that 70.
[28:02] I start investing 2003 with my net worth with -80 thousand since then I’ve built a business that generates over $500,000 a month in income and allows me the freedom to do what I want I’m Brad Chandler and I tease people just like.
[28:15] How to find Freedom through real estate investing using a tactic that doesn’t require credit or tons of cash for a free training on how you too can do this please visit Brad camel.com.
Hey flipping America listeners have you ever walked into a property and said I have no idea what it will cost to repair this home those days.
[28:40] Was it your pocket designs by Real Estate Investors for Real Estate Investors ultimate rehab estimator just needs to know their properties measurements and what you want to do it produces a statement of work a bill of materials and increase a deal NYC.
[28:58] Sales taxes by your state using the properties of code alternate rehab estimator is for all Real Estate Investors new and experienced
just visit ultimate rehab estimator. Calm and click on plans and pricing we have for plans all designed to meet the needs of your real estate business ultimate rehab estimator works on every device you have and wherever your property is skip
contractor in your pocket today at ultimate rehab.
[30:06] We’re back I’m Rodger Blankenship and I teach people how to make money in real estate I’ve been at it for a long time hundreds of transactions.
Well actually over a thousand transactions right now most of those are properties that I bought fixed and then resold on the retail Market.
Along the way I’ve dabbled a little bit another asset classes and do some different things but we decided to keep our focus on single family homes.
This show is all about giving you the information you need to make good decisions about real estate investing we don’t encourage everyone to become a house flipper but we do encourage everyone to have.
Real estate as a part of a balanced Investment Portfolio and so here we are trying to give you the best information that we can
and statistics and demographics and Trends and even down to style questions and what color to paint your house all of those things are fair game you can ask us any question you like them we do tend to focus here on,
single family homes but we are aware that there are many different asset classes and in
ways to invest in real estate and we’re familiar with a lot of them but we’re not going to pretend to be experts about all the things that we don’t know however we do know experts.
[31:27] So all you have to do and I wear a one-stop-shop just send your question to us about whatever asset class it is and you don’t hear me talkin about the questions that we get.
About commercial properties and and different other asset classes because we were for those onto RR
friends and and our information Partners out there who answer those questions directly it would be kind of silly for me to answer questions about investing in certain retar or small investment or
that sort of thing I have an opinion about those sort of things but I can’t speak to you as a bona fide expert on those topics.
When it comes to your typical buy and sell or Buy and Hold properties.
And it could be any kind of residential property really I’m probably going to be ready to take your questions and answer them on the Shelf but.
All of this is to say whatever your question is if we don’t know the answer will get you an answer okay.
Vincent from Macon Georgia says it seems that all the great deals are in a bad part of town is that true everywhere and how do I make money there.
[32:38] Alright Vincent very good question I’ve done some investing in Macon Georgia and we’re on the air and making hello making it seems that all the great deals are in the bad part of town you know because what you want is you want something that you can buy far below the market
but the bad part of town is an ongoing issue.
With Real Estate Investors and you know sometimes we refer to them as War zones that’s just kind of typical real estate speak but here is.
Here’s what I suggest that you do Vince and I understand the issue and believe me Atlanta has its share of difficult neighborhoods as well.
[33:18] Now we have some people in the Atlanta Market who are pioneers and they,
take pride in going into these very difficult areas and they’ll buy half a dozen houses and they’ll establish their comps and they will contribute to this process of renewal.
That’s going on all over the city of Atlanta and sometimes they can even start a trend once it’s person is Mike Sherm Inca shout-out to Mike I’ve had him on the show I admire his ability and his courage to go out and do this
for my purposes and for my part I think it’s better for me to take the second mouse approach.
And if you haven’t heard me say this here it is.
It’s a little bit gross but it’s memorable they say that the early bird gets the worm but it’s the second mouse that gets the cheese.
[34:09] Just think about that for a minute alright.
So what I mean by that is I watch what’s going on in my own town or in the areas where we are working and if an area seems like a difficult area in a in a dangerous or bad part of town I’ll stay away.
Until I see some activity going on and then I’m going to stay very close to the existing activity or.
Just a little bit away from it but I’m not going to forget it you know in Atlanta we say you’re never more than two blocks away from the hood so if there’s activity going on on this particular Street and lot of work is going on
I may be willing to go one or two streets away but three or four streets away there may be some terrible tenement complex or you know just an apartment building and has a terrible reputation we have to avoid it so you owe it to yourself
to really know the neighborhoods and know what’s going on and
if you can find that area that is starting to turn around that’s where you want to be but my suggestion Vincent is let somebody else start it.
Okay you want to be on the Leading Edge but you don’t want to be on the bleeding edge.
[35:25] Elise from Port St Lucie Florida I really like your show the show you did on Smart Home Technology can you talk a bit about the technology programs apps and other Solutions you use in your real estate business.
[35:39] I alluded to this.
In the opening statement that we are going to talk a little bit today about technology and I’ll tell you what I’m going to do I’m going to take the entire next segment and I’m going to talk about the technology in the apps that we use here in the flipping America office because in spite of all of them
the things that we’re doing in the media and helping you
with your own real estate investing and then leading networking groups here in town we are still actively involved in looking for buying fixing and flipping houses as much as we can.
Maybe not at the same volume we did few years ago but we’re,
still trying to run the business and we still have all the tools that we’ve used in the past so I’ll share those with you and just a couple of moments we’ll be right back.
[36:36] Not too long ago we did a one-day flip starter in Chattanooga Tennessee and low and behold one of my old College friends came out to the event his name is Peter Faulkner and here’s what he had to say about the event.
[36:49] Peter Falkner here I tended a one-day flip starter training session led by Rodger blank.
And I was amazed to see what has happened in Rogers Live from the last $15 plus years flipping over 800 houses and then this one day training he told how he did it and what.
Falls the blessings the benefits and how to do it and I was so impressed with how well organized and how smooth the training winners today.
You’re tempted or in courage to go go at was not a bad price and if you get a chance to do it even just to consider invest.
I just want to thank Rodger for a great day today and appreciate what he’s doing.
[37:52] Okay the question from Elise was technology that we use in our business and you know that the list is going to be a little shorter than you might imagine
because I think it’s better to have a few tools that you know well and and know them deeply and use them a lot alright first and foremost I’m going to say
you know we use an office solution
a product that we don’t use Microsoft Office now I’ve got a partner that insist that we should be using Microsoft Office and you know all due respect.
We make a lot of use of the spreadsheets.
[38:32] And because of the way we do this as a team it’s just better for us to use Google Sheets.
Now I know that Google Sheets and in the Google office suites don’t have everything that the Microsoft Office Suites have but they have everything that we need.
And I have some fairly complex formulas in my spreadsheets that we’ve developed over many years of practice and all of those formulas imported over a few years ago just fine
and here’s the beautiful thing I can open and start a spreadsheet and I can share it with other team members and I can select the team members that have access to it and
I can watch them watch what they’re doing and and I can go back after they’ve made some updates and I can see where we stand on certain things and they can actually watch me as I demonstrate for them how to
and I move certain things around or do certain things or sometimes just eliminate certain leads
so Google Sheets with that sharing feature on it’s a powerful thing we do it to a lesser extent with extent with Google Docs but we do share Google Docs back and forth and.
[39:42] Co-edit them and that sort of thing.
The interface if you’re used to word and Microsoft Office environment that the interface is going to be a little different and people are resistant to change I get that but you know.
Some of us remember when Microsoft bought word
and they bought Excel and it’s been many years ago and they’ve tried to make them you know a little bit more consistent between the programs and they more or less succeeded but they’ve added some wonky features the the dumb ribbon thing that came in there and just
you know it takes you awhile to figure out where everything is
in Microsoft Excel and I frankly have found Google Sheets to be a little bit more straightforward
and the help is good for you just ask what you want you’re probably going to find an answer and you know they’re also a lot of YouTube videos out there.
That will teach you what you need to know for example I know.
[40:42] There’s a formula that will give me this particular result I just don’t know the Syntax for the formula and when you read the tech support on Microsoft it’s as useless as driving directions to the blind man but.
So I always turned other third-party sources for the help and there’s as much help for
Google Sheets on YouTube is there is for Microsoft Excel but you know if you find a video that tells you how to do something in Excel you can probably pretty much do that same thing and Cheech just have to figure out how to do it.
Alright so we use Google Sheets and and Google Docs now.
I use Google Slides a little bit but I tend to go more and you know where a Macintosh environment here I tend to use more of them for presentation programs I use.
That’s built into the mac and it’s free with the Mac I do that because it has it has significantly more features and different things that you can do with the appearance then Google Sheets where I do prefer Google Sheets.
Is if I’m going to do something like a Facebook video or something where I want to have my screen be what’s in view
Google Sheets is a little friendlier keynote takes over it you know I’ve got three screens right here I’m looking at at all times.
And Kino insist on using all three screens and decides which one’s going to be available to your video recorder I don’t like that.
[42:10] No there’s some other things that we use in the the business of the real estate as well we use a tool called Trello and it’s free for the most part.
We haven’t started paying for it yet and it’s at trello.com if you just go to trello.com.
Actually email me I’ll email you an invitation trailer.com and I’ll get a little trouble gold for that I’m not really sure what that trailer gold is doing for me but
anyhow just go to Trello and you can set up a lot of your projects were using this for project management we have a board for.
Deals that were considering and if it goes from considering to under contract we move it to a different board.
And then once we bought it it goes to a different board and we can assign tasks and everything we keep up with everything everything from the documents from the closing.
To the invoices that we scan and attach to that folder to that.
To that particular property and account folders but it’s a board and and.
[43:14] It paint colors and light and plumbing fixtures and selections and skews and all of those things we pick them out and we attached them you can attach documents you can touch photos
Trello just is a very useful you can also tag all your co-workers if you need someone to see something that you just done you just tag them and they’ll get a notification
in many cases it’ll be instantaneous on their computer or if they have the phone app installed it will get a notification on the phone at the roundabout that there’s something on Trello that they need to look at
you can set up as many boards as you want and you can share with the the right people or with no one so you can keep track of your own personal things as well as company thing this and I share things back and forth to my assistant
the rest of the office doesn’t need to see they don’t care about and so it’s those those things just between the two of us so Trello very flexible.
[44:09] Another Big Tool in my personal Arsenal is Evernote.
I’ve been an Evernote user since very early on in the history of Evernote and I know that there are other programs out there now that are designed to compete with it and I’m not saying anything bad about those things because I honestly haven’t given any of them a try
I stay with Evernote because it’s served me well over the years and I have thousands of notes and Evernotes the things I like about it is I can be completely random.
[44:35] You know years ago I had a filing system setup and I had to label my file folders and I had to keep track of which file folder was wear and then I had to stick stuff in the file folder well with Evernote you can just drop it in.
And then if you think this is a topic that you want to search on later on you can create a tag for it you can have thousands of tags so for example.
[44:58] For my website
if I save something that I want to put on the website or information about the website down to the the Brandon colors that we use it’s all in an Evernote and I tag it website
I also I love books I love to read and so I’m you know from time to time I’ll be you no surfing through the internet and I’ll find a
list of recommended books or maybe just two or three recommended books that immediately gets dragged over to Evernote and I I have the tag.
Books I think it’s book list so
I always have a ready supply of the Nina what’s the next book I’m going to read while it’s right there on one of those lists I go to look through it and I see one that’s that connects with me for one reason or another in that becomes the next book
and of course my first thing to do after that is check with the Atlanta Fulton County Public Library and see if they have the book that I can check out
because you know I got over my ego trip about owning a lot of books and decide I just want to read a lot of books,
so I always try to borrow them first most of my don’t read a second time if it’s so good I think I’ll read it a second time then I’ll think three times and maybe by the book but generally I’ll just.
Borrow it from the library alright Evernote can do so many things.
[46:17] I’ll go to a conference and I’ll create a new notebook that’s just notes from that conference and I keep them all in one place but then as I’m typing up notes on a particular talk in that conference are real
realize it’s on a topic that I want to be able to search later on so even though it’s in that notebook I can tag it was fun of my tags and that makes it searchable by the tag
Evernote also has a powerful search feature where you can just search by text if you don’t tag anything or don’t keep him in notebooks if you’re just completely disorganized in your thinking.
It doesn’t matter you can search by the text no you’re not you’re going to find a lot of weird things if you do that way but it will work and you know I like Evernote.
Particularly because it kind of works with you the way you want to work with it but definitely watch some videos on making the best use of that program will come get little bit more technology when we come back.
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[49:05] Follow us on social media know that we’re kind of all over social media doing a lot of posts and no we do not have somebody on staff doing the post
we are always trying to improve and get smarter about it. I’ve been told that I over post on Instagram.
That’s because all of the posts are set up to be on autopilot and yes I do spend some time.
Selecting the Articles and so forth that we feature on the show and so many more for every article we feature on the show we probably have.
The 10 that don’t make it onto the air that get put into our social media feed it’s just because there’s a lot out there if you go looking for it and we have great.
Doing a great job of looking for the information that we need so how do we do all of this we use something called HootSuite hoot
Suite HootSuite this allows you to connect all of your social media channels.
[50:03] And then when you do one post it goes out to all of them automatically simple as that all right it’s not it’s not brain-dead simple.
But it’s pretty close to it you just all you have to do is know your logins for all of your social media if you got that together in one place you put that in and then you have to make sure you have an image for Instagram because they like a picture,
and boom you can schedule your tweets your your social media post to happen and if you’ve been following this show for a while you know that
does starting about 30 minutes or I’m sometimes 5 minutes after the show is over you’ll start getting post from the articles that we just featured on the show what we set that up days in advance using HootSuite
as soon as we decide the Articles going to be on the show and we’re going to.
[50:57] Probably talked about it and we go ahead and schedule that post to go out at certain time segment right after the show
and it’s all automatic and a little time is put into the planning but not nearly as much time as if we were sitting there on Twitter all day long.
Like a some people tend to do instead of doing their actual work now.
Those are some solution that we use the office and I should have mentioned Prezi to we were just starting to switch over to Prezi Prezi cam for some of our presentations and once we have the.
Contractor impossible talk we’re going to turn that lesson into an online lesson that you can access for free and you’ll see what a Prezi presentation looks like but you can also go and do prezi.com and look at it look at it for yourself
that is an interesting little too long now we’ve been talking about desktop tools that we use in the office what about the technology that we use out in the field this is important as well.
When we go out and we’re looking at properties.
[52:01] We want to know some things about the property now. It’s very it’s because sometimes we’re going out with a route
we have a list of properties that we know our schedule for the next foreclosure auction and we know who owns them and we know some details about the house that’s a little bit different when we do that we just take a picture of that
Email it back to the office and interesting Lee now you can set up a Trello board with every Trello board has its own email address so I need to
call attention to this if I’m out at one of my properties that we know is in Trello I have will have
secure that email address and while I’m at the property taking pictures of the update I email them directly to the Trello board and they get posted automatically so we have our before.
During and after pictures all coming into the board automatically that is cool.
When were just looking at properties to think about buying them we email them back to one Central email address where we’re going to
I take a further look kind of course we put our repair notes in there with it as well that’s when we when we already know some information but when you’re just out driving.
[53:16] And you see a house that looks like a possibility what do you do
well the first thing you do is you download the app called Homesnap and Homesnap and you take a picture of the house and using location services home snaps going to tell you with a fair degree of reliability who owns that house.
Correct and if you want to go a little bit further than that then we you can download land Glide.
That’s landglide now if you want to use landglide that there’s a little bit of a cost of that but if you do.
[53:51] Usually in Glide then you’re going to get a wealth of information the owner’s name where they’re located the parcel number the county.
The city a lot of cases you’ll get the sale price what they bought for at the land use class the land use code
the market value of according to the tax records the size of the lot
and up the mailing address where the tax bill is sent boy that’s really important because if it’s a non-owner occupied property and you want to reach out to them you don’t need to send mail to that address you need to send it to where the owner is now that’s land,
[54:28] Land Glide another app that we make a good bit of use of at the the property itself is.
I’ve been verified been verified been verified this allows us to look up a person’s name we can look up a person’s name and get a lot of different phone number so
recent phone numbers that had its not 100% reliable but it’s better than nothing we also can find them on social media and we could find email addresses this allows us to contact absentee owners and ask them if they want to sell their property
another tool that we use when we’re planning to go out is a little app called Road Warrior.
I’ve looked for years ever since the demise of Microsoft Streets & Trips we used to use that connected to a laptop with a little thing that you’re stuck on your windshield of the suction cup to know where you are we would use Streets & Trips to guide us to our route.
It’s been gone for a while and if you still had it it might still work but I don’t have any laptops that will run it anymore.
We now use Road Warrior.
And it’s an app that you can download and you going to have to pay something if you want to go to more than five stops but well worth the money because you can plan and optimize a route and you can have somebody looking at 20 properties instead of looking at a map
half a day and then go into 5.
[55:52] Okay that’s some of the technology that we use and of course I have to include the property grade app that’s free in the App Store I talked about that earlier there are also other apps out there that you.
Probably should know about there are a number of driving for dollars apps I have one of my phone that.
Is called driving $4 and when you select properties and add them to a list you can create a mailing list in and they’ll do the mailing for you and you got a lot of useful information much like you do with some of these other apps that I’ve mentioned but
there’s a hudhomestore.com app there is the Redfin app there is the Zillow app.
[56:32] And I’m sure that I am missing some of these but you get the idea. CoreLogic has a couple of apps as well CoreLogic insights.
And CoreLogic realist and core logic Sky measure.
[56:47] Using skymeasure you can get a residential roof report for basically 40 bucks and.
The app takes I forgot to mention this when I was talking about the HUD home store after I just kind of went over quickly I was looking at the list on my phone if you have your location services turned on then you can get HUD listings anywhere you are.
Can instantly based on your location just find a HUD possibilities near you and you can find out.
But the going prices and you can just be firing off offers from your phone all day long or cuz you know you have to connect with a realtor to do that but very useful and I would be remiss in failing to mention
again kind of a Shameless plug the most useful real estate app out there is in our humble opinion the flipping America app.
Why because it covers a broad range of information that you need and here’s how you use it.
Get in your car and connect your phone via Bluetooth to your speakers to your stereo or whatever and then just turn on The Flipping America app and start listening.
[57:50] I actually didn’t think of this idea we’ve got a gentleman on our team here one of our participants in the mentorship program who.
Told me that’s what he does and then I’ve heard from several people as well just listen to the app on Bluetooth in your car while you’re going back and forth and you’re going to find a lot of information that you can use and really an entire real estate
education wrapped up in one show and it’s all free folks we are here for you
and if there’s anything that we can do to help you grow your business all you need to do is just let us know really we want to help.
[58:29] That’s all the time we have for today Folks at music means we are out of time I’ve got some more questions coming up Steven Sherry lynetta and the rest of you will get to you soon.
[58:39] Thanks for hanging in there.
[58:58] Zig Ziglar said people often say that motivation doesn’t last will neither does bathing and that’s why we recommended daily.
[59:06] This thought was brought to you by the foundation for Renewal working together with communities across this great country of ours to bring lasting impact.
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[59:32] This has been flipping America real estate investing for everyone.
If you have questions about real estate Investments send them to questions at flipping America radio.com listen every Monday at 11 Thursdays and Saturdays at 10 on stations across the country or on iheartradio.com,
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