House flipping is a very potent form of investing. After just one fix and flip, many investors find themselves hooked, leaving their stable jobs for the profit (and rush) or finishing another flip. This happened quickly to Jason Pritchard, flipper and rental property investor in central California. Jason was working at a sales job he hated and after watching one of the many famous HGTV flipping shows, thought, “Hey, I could do that!”
He gave it a try, using his life savings and retirement funds available to him. It was a success, so he decided to scale up. One flip grew to a few, and now, Jason's team does over seventy-five flips and wholesale deals per year! This incredible volume didn’t happen overnight—it took Jason seven years to go from W2 worker to one of the best flippers in the state! And it’s not just flipping Jason is after. He’s been able to grow a massive rental property portfolio, some eighty-three units, at the same time!
You’re probably wondering how Jason did this so fast. Worry not, as he details every step from how he finds leads, builds a team, pays the taxman, and even compensates employees. If you’re trying to get your foot into the flipping door, Jason’s story should inspire you to do almost exactly what he did.
In This Episode We Cover
Using the skills from your job and translating them to make real estate riches
Building a business and the most important step most flippers/wholesalers skip
Funding your flips and why paying taxes might be a good thing when it comes to financing
How to find employees that will grow with your business, even if you feel like you “can’t” hire just yet
Private money lenders and using them to scale your business even bigger
And So Much More!
Links from the Show
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
Invest in David and Rob’s Next Property
David’s YouTube Channel
Grab Your Tickets for BPCon 2022
BiggerPockets Money Podcast
Real Estate Rookie Podcast
Airbnb
How to Flip a House & Make a Profit
How to Build a Highly Effective Real Estate Team
How I Find Private Money Lenders to 100% Fund My Deals
Books Mentioned in the Show:
The Go-Giver by Bob BUrg
Think and Grow Rich by Napoleon Hill
Connect with David:
David’s Instagram
David’s BiggerPockets Profile
Connect with Rob:
Rob's Youtube
Rob's Instagram
Rob's TikTok
Rob's Twitter
Rob's BiggerPockets Profile
Connect with Jason:
Jason's Instagram
Jason's Facebook
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-611
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