Weekly WIT, November 7, 2022

This week in Summary

Investing Tip of the week

Q: Should I quit my job to flip houses full-time?

 

A: The answer is a resounding “no”. Do not quit your job to start flipping houses. You should do the thing that brings you the stable income needed for your family and for yourself.  If you jumped into this business right now and you were somehow able to find a house to flip tomorrow it would be 4 to 6 months before you would realize income. So please do not quit your job.

 

Perhaps a bit of encouragement for you is that I started in this business of flipping houses while maintaining a demanding full-time job and continued that way for 4 years. I only switched to real estate investing full-time due to life circumstances. My other job had come to an end. So I had 4 years invested in the flipping business before I made the transition to full-time flipping.

Joke of the Week

Q: What does the dyslexic agnostic insomniac do? 

A: Lies awake at night wondering, “Is there a dog?”

Blessing of the week

May the friendships you make,

Be those which endure,

And all of your gray clouds

Be small ones for sure.

And trusting in Him

To Whom we all pray,

May a song fill your heart,

Every step of the way.

The Flipping America Show

Episode 567 Enough

October 31, 2022
How much is enough? Is there one answer that will fit all people? Is it possible that the experts are wrong? Will you be able to retire and live comfortably without financial distress? Is that even a good idea? What? I’ll explain momentarily.

Episode 568 Hiring a Virtual Assistant

November 2, 2022

I need help!  And that’s been said about me on more than one occasion. But no, I need a Virtual Assistant! Perhaps you’ve heard of this, but if not, today is going to be eye-opening for you. You can hire assistants that live halfway around the world, do a great job and save you money at the same time. Today we are going to explore the world of Virtual Assistants.

Bob Lachance is a nationally recognized speaker, mentor, and trainer who specializes in helping customers build their businesses through automation and outsourcing. He is the owner of REVA Global LLC which focuses on offering trained real estate virtual assistants to real estate professionals. Over the years he has experienced various setbacks where others would have simply thrown in the towel. Through the ups and downs both in business and life, his humble commitment to the daily process is something listeners can gravitate towards.

Episode 517 Note Investing
November 7, 2022
Today we are talking about Note Investing. And I’ve got Martin Saenz on the line. If I were going to invest in notes, I would hope to do it with the skill, empathy, and compassion Martin has. His amazing business is up today on Flipping America!

Martin Saenz brings social good into smart investing. He is a Managing Partner of Bequest Funds. Renowned as a thought leader in the mortgage note investment industry, Martin is generous with his first hand expertise, to the benefit of his many clients and followers. Genuine, loyal, and passionate about creating a better world through profitable business, he works hard to share and spread success.

Flipping America News

Nothing new, so no use using a lot of words, eh? Working on

  • Posting old shows

  • Flipping America GO (the team and I are working on UI issues)

  • The FAN (yes it’s about to make a big comeback).

 

Got a funny, clean joke? An interesting real estate story? Submit them to info@flippingamerica.net.

Real Estate News

Read the headlines carefully!

The latest CoreLogic report is out and the trade papers are reporting a drop-off in prices. Not so fast. Although there is a real drop in some home prices on the west coast, the 20 city index used by CoreLogic is showing a slowing in the rate of GAIN in price. 

 

So in other words, homes are still appreciating, but no longer at 21% or even 13% year over year. It’s getting to a more normal number around 8%.

 

It’s not time to panic. The ride we’ve been on for six years had to come to an end and the market had to come into balance at some point. When it is moving in that direction it seems like something negative. Actually we are just getting to a bit of equilibrium. It’s going to be ok.

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