Flipping America 300 - LIVE! Answers to Listener Questions

Welcome to show number 300! Today marks a milestone for us with the Flipping America show. Thanks to all of our sponsors for making it possible and thank you to YOU for making the show a big hit! It’s not a college football game coming down to the last few seconds, but for a real estate show, it’s pretty exciting! Making money YAY! Financial freedom YAY! Purpose, meaning, legacy, YAY! Wait, isn’t it just a bit odd that sporting events seem to get us a LOT more enthusiastic than these other things that actually are the warp and woof of our lives.

Speaking of woof, I had a rough afternoon Saturday, like a lot of you Dawg fans out there. I had to go outside and sit by myself for awhile. One of the many thoughts I was thinking while pondering Georgia’s unbelievable upset loss is “why does this matter so much to me?” I came close to an answer when I decided that I just really want to root for a team that wins a championship. I’m not much of a baseball fan but was delighted to be in the area when the Braves had their moment in the early 90’s. I know we are the soccer champs, but honestly, I didn’t realize we were any good until I heard on the news that we were playing for the championship. And I really don’t mean any disrespect, but it’s just difficult for guys my age to get excited about soccer. We didn’t grow up with it. Anyway — this was going to be the year for Georgia. We have elite talent, expectations were high – and then dashed. I know a championship is possible, but have you seen LSU and Alabama play? South Carolina barely whimpered as Alabama rolled over them. And I’m not sure they can beat LSU this year.

But here’s how to eventually get out of this mental mire – you just have to say – “hey – it’s just a game. It won’t be important in 100 years and it doesn’t affect my life, my destiny, or my future any more than I allow it to.” Now THAT’s a word of wisdom for everyone here. We have to get some perspective on our lives and think about what really matters. Sports. Yay. LIFE. YAY!

How to contact us

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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.

Announcements:

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.
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.

News:

Citibank is fined $30 million for holding onto foreclosures for too long.

Citibank fined $30 million for holding onto foreclosures for too long

Rent To Own – Nope – not in PA, NY or WI

Pennsylvania sues rent-to-own operator Vision Property Management for preying on low-income renters

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Your Questions: Send emails to questions@rogerblankenship.com

Arlene, Milwaukee, WI. “How do you find your contractors?
Brandon, Atlanta, GA “My new contractor wants money up front for materials. I know you say ‘no money up front’ but we have this trust thing going on. He doesn’t know me and I don’t know him. What do I do?”
William, Macon, GA “I keep hearing about the foreclosure auctions at the courthouse steps. I think I might want to do that, but why not just buy foreclosures my agent is showing me from the listings? Are the deals any better at the auctions? How do you go about buying at the courthouse?”
Adnon, Long Beach CA, “Do you always hire a GC? What it 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?”

Comment Line calls and Questions

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

Motivational Thoughts for the day

“Blessed are those who can give without remembering and take without forgetting” –Anonymous

Expected Air Date: Thursday 10/17/19