EP338: Michael Moulton Shares Insider Secrets on How You Can Capitalize by Working with iBuyers (like Offer Pad & Open Door)

Michael Moulton is a real estate fix-and-flipper based out of Charlotte, North Carolina. He left his corporate career to pursue real estate and now has a small team of six people. Technology has really changed the game in his market and he has been working proactively with iBuyers to get deals locked up at a great rate. He dives in on this week's episode to share a little bit more about how you can get into finding and working with iBuyers in your area!

Key Takeaways:

• How did Mike get into real estate?
• Mike met his wife when he was in corporate and she helped him with his side hustle when they were still working full-time jobs.
• Alex thinks sometimes you have to burn the ship and convince yourself failure isn't an option.
• What does Mike's team look like today?
• Big teams aren't always sunshine and rainbows.
• Mike shares why he purposely chose to have a small team.
• Mike shares a story of a friend of his who just works with his son building custom homes.
• What is an iBuyer?
• Where do you find iBuyers?
• What makes iBuyers unique?
• Timing is very important when you're working with iBuyers. You don't want them to know how much you paid for the house.
• What types of homes are iBuyers looking for?
• What's the process of finding an iBuyer and selling them a house?
• How do iBuyers control the terms of their offer?
• If you have a hard time finding a buyer the traditional way, does it make sense to send it to an iBuyer?
• Mike thinks 80-90% of brokers will be gone in 3–5 years.

Mentioned in This Episode:

Interested in joining the Hybrid Coaching & Mastermind Group Alex & Steve launched? Apply to Join ASCEND

Connect with Mike: Beehomesolutions.com

Here are some of the big iBuyers: Offerpad.com, Opendoor.com

Tweetables:

"Here's one learning though. You cannot wholesale to these iBuyers. You don't have to have it bought, but you have to have a plan that you're shortly going to take ownership of it."

"iBuyers typically don't like beater homes or class C or D areas. The best ones to send them are houses that aren't going to need a lot of renovation to resell or get them rented."

"Zillow is still a little bit behind the 8-ball. We couldn't even get our images uploaded to their site, a lot of challenges with file sizes, it's a very clunky process and it takes 12 days to get back to us and that's with us following up, following up."

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