This week in Summary
Investing Tip of the week
How do you evaluate a new opportunity? Not necessarily a real estate deal, but ANY opportunity? I suggest you consider two areas: Alignment and Return. By alignment I mean alignment with your personal life vision, your values, and your current circumstances. By Return, I mean return on investment, return on cash, and return on effort.
If you decide to go forward, do an analysis or RISK and BANDWIDTH. Then dip a toe in. Try it a little.
Joke of the Week
The ladder company rep was demonstrating his new product at a trade show.
“Notice how the rungs are spaced further apart,” he said.
Someone from the audience raised their hand, “Is that for cost savings?”
“No,” he replied, “it’s because of climb it change.”
Yep, it’s a true Dad joke…
Blessing of the week
I’ve done some traveling in the past couple of weeks, so here I offer my own version of an Irish blessing:
“As you travel along life’s highways, may the police already have someone pulled over when you get to the speed traps.”
The Flipping America Show
Episode 545 Get UP!
August 22, 2022
It doesn’t matter how many times you get knocked down. As long as you get back up. Everyone listening to my voice has been down. Some of you are right now. Today I’m going to help you get back up.
Adversity is baked into the human experience.
Bad things happen to us beyond our control.
Bad things happen because of our choices (those can often be worse on our psyches).
Sometimes, we feel bad. Sometimes anxious
We get rejected. Our plans fall apart.
Our kids make mistakes.
We lose things. We lose people.
And we go down.
Today I am going to Talk it up, so I want you to Listen up because I’m going to ask you to Toughen up while you Lighten up at the same time. Then we are going to Light it up, then Follow up and last, but probably most important I’m going to ask you to Look up.
If you do these things, you’ll get back up. I can’t promise it will be easy. I’ve been down and I know how hard it is to come back. If you are feeling depressed from self-blame, angry from blaming others, or both at the same time, I get you. I feel you. If you listen up, I think I can help you. It’s not pious platitudes from pop psychology class. It’s the shared experience of a friend who is probably only one or 2 steps ahead of you right now.
This show actually re-fired me up. It might be the best show of the year so far.
Episode 546 The BIG Q&A Show
You’ve got questions? We’ve got the internet, er, we’ve got experts, um, we’ve got the Realty Bluebook. Seriously, today on Flipping America, we’ve got a pile of answers coming your way. Hopefully some of them will connect with your questions.
Here’s your reminder that if you have questions about real estate or real estate investing, you can send them to firstname.lastname@example.org. Or you can call 877-55-ROGER (877-557-6437) ext 1 and leave your question. We answer every question that comes in, usually within 24 hours, and some of them make it to the show.
There is an exception to the promise of answering every question. We are not going to do your homework for you. We can’t run comps on your potential property and we can’t really tell you if a particular deal is one you should do. We couldn’t possibly know enough about any particular situation. But if your question is more broadly useful to others, it’s ideal for our use. So keep on sending them!
Episode 547 How To Quit Your Day Job
The first thing we tell you is “don’t quit your day job.” But you just won’t listen to me so the next thing I’ll tell you is “how to quit your day job.”
Passion is overrated. Job stability is underrated. Financial security is a big plus in life. Your real estate career will take off and blossom if you can stay in your job while you get started. You’ll enjoy financial security and the luxury of easing into offer-making. This is clearly the best way to do it. So who cares if you stay at a meaningless or boring job for another year or two? I assure you you will prefer the boredom over the anxiety of not being able to pay all your bills.
Today I’ll give you a glide path that takes into consideration everything you’ll need to think about as you make this big life transition.
Flipping America REIA News
We are BACK Wednesday. The topic is “Ask Roger Anything”. We are also going to do some deal analysis with Flipping America GO. If you have a deal you want us to review, send it to email@example.com. Register for the free call: bit.ly/fareia083122.
We are planning to do deal reviews each week. Deadline is noon Tuesday for consideration. Send in your potential deal – perhaps someone will buy it from you right there on the call!
Do you have a real estate story to share? It can be funny, poignant, heartwarming, or heroic, or some combination of that. Keep your submission short – maybe 2 paragraphs. If our editors see potential, we will get with you for more details. Same email: info@flippingamericanet.
Flipping America News
Flipping Houses in Ten Days: How to Make Big Money in Real Estate is coming to Amazon on September 8. [Insert landing page link here or put the link in the title] It’s Roger’s seminal book on house flipping. With this book and FlipStarter, you have everything you need to launch your investing career. You won’t flip your first house in Ten Days, but it’s ten short chapters. You can read one each day and in ten days you’ll know ten thousands times more than Roger did when he started. It includes helpful checklists, the “Active or Passive” infographic, and the “Tale of Two Flips”.
Submit your deals for review, your jokes, and your real estate stories to firstname.lastname@example.org.
- What do you do with a Zombified Zip code? Number One: Don’t buy and hold there. https://www.attomdata.com/news/market-trends/figuresfriday/top-10-zombified-zips-in-q3-2022/
- Mark Cuban and I agree on at least 2 things. Luca is a great basketball player and buying virtual real estate is breathlessly stupid. https://www.inman.com/2022/08/11/mark-cuban-thinks-metaverse-real-estate-is-the-dumbest-thing-ever/
- As I predicted 3 years ago, the iBuyers will not survive once they are expected to show a profit. I LOVE being right. https://www.inman.com/2022/08/08/opendoor-is-in-62m-worth-of-legal-trouble-the-real-word/
- Time for a panic attack! Home prices are DOWN .77% over the past month. https://www.cnbc.com/2022/08/24/home-prices-fall-for-the-first-time-in-three-years-biggest-drop-since-2011.html