7 Figure Flipping

House flippers, listen up… we need to talk about contractors.It’s not enough to just find a “good” contractor to handle your flip projects. You also need to know how to build an effective, long-term working relationship with that contractor… and this requires setting expectations correctly, managing your renovations, running the numbers the right way, and more.In this episode, Mike Simmons shares the lessons he’s learned from working with many different contractors on countless flips over the years… so you can learn from his mistakes.We’re digging into stuff like…How Mike has his contractors bid projects (this might surprise you)…Why he has multiple contractors come to his houses at the same time…How his business almost collapsed overnight due to cutting ties with 1 contractor…The contractor ads he puts on Craigslist…Why he creates scopes of work BEFORE the contractors show up…The questions he asks when contractors apply to bid his jobs (his Google form)…What a “release of lien” is and why you need them with subs…How he incentivizes contractors to finish ahead of schedule…Some of the major “gotchas” and tactical mistakes flippers make…Why it’s important to “control the ARV” of the houses you flip…How he “accidentally” got into wholesaling…How to grow and scale your real estate investing company……and more.It’s been awhile since we’ve caught up with Mike Simmons. Mike is an incredible real estate investor with a background in both flipping and wholesaling. He’s a mentor, a coach, and a good friend.And these days, he’s also an author.Mike’s new book “Level Jumping” is flying off the shelves. (Does Amazon have shelves? Hmm…) The book is all about how to break out of the cycle of “I can’t grow until a hire a team, but I can’t hire a team until I grow.” There’s a saying… “You don’t know what you don’t know.” This book will answer the questions about flipping and wholesaling houses that you DON’T KNOW TO ASK.You can get it on Amazon (click here), or you can get a FREE digital copy by texting the words “Just Start” to 55444.Oh, and a quick note about Amazon… whenever you’re shopping on Amazon, go to smile.amazon.com and do your shopping there. Same exact site, but a portion of your purchases will go to the charity of your choice. Pretty cool!Catch you on the flip side!Links and Resources"Level Jumping" by Mike Simmons: Get your copy on Amazon.com or text “Just Start” to 55444 for a FREE digital copy of the book!- CLICK HERE: Level Jumping (Book)Are you ready for the 30 Days to $500k Challenge? It's launching soon... and the goal is to give you an exact blueprint to follow to raise $500,000 I private funding for your real estate business over the next 30 days. Learn more at the link below!- CLICK HERE: 500kChallenge.comFollow the 7-Day Flip series on YouTube! Can Tyler Jensen and his team flip 4 houses in 7 days? (Start to finish, full renovations.) Time will tell... We'll be releasing a new episode every week till the end. Subscribe to the 7 Figure Flipping YouTube channel to get future episodes as they're released!- CLICK HERE: Subscribe on YouTube!Flip Hacking LIVE tickets for October 2020 are available now… and seats are filling up fast. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your spot now. Sign up below!- CLICK HERE: FlipHackingLIVE.comI also have something "super secret" coming up soon. I can’t give you all the details now, but let’s just say I’m going to be hanging out with some of the most successful house flippers and wholesalers I know right in your living room… through the magic of Zoom. This will be a live “virtual event” happening in mid-July. More on that later… stay tuned!====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out...Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click Here: https://7figureflipping.com/subscribe7 Figure Flipping Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://7figureflipping.com/listenFacebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

I’ve got something big to share with you today…In the previous episode, I shared my presentation from the Veterans REI Live event.Today, I’m taking you behind the scenes and unveiling another presentation from that event.Walter Bond is a former NBA basketball player, a Hall of Fame professional speaker, and an inspiration to thousands of people around the world.He’s delivered incredible keynotes at Flip Hacking LIVE 2 years in a row…And he agreed to jump on and close out our Veterans REI Live event just over a week ago.He gave me permission to share his presentation here on the podcast.(Something which, to my knowledge, has NEVER been shared like this before.)And guys, this is POWERFUL.I’ve never heard a keynote like this on a podcast or on a Zoom call or in a virtual meeting like this.And he has something special to share at the end. Listen in!Links and ResourcesWalter Bond runs an incredible mastermind group for business owners who want to leverage the power of accountability to push themselves to the next level. If what Walter has shared in this episode resonates with you, hit the link below to learn more and sign up.- CLICK HERE: WalterBond.com/sharktrainingWant to get all the recordings from Veterans REI Live? For a limited time, you can still get access. All proceeds go to support Veterans Community Project, a charity that builds houses for homeless veterans. To get access to all the recordings (and support the cause), hit the link below!- CLICK HERE: VeteransLive.comFollow the 7-Day Flip series on YouTube! Can Tyler Jensen and his team flip 4 houses in 7 days? (Start to finish, full renovations.) Time will tell... We'll be releasing a new episode every week till the end. Subscribe to the 7 Figure Flipping YouTube channel to get future episodes as they're released!- CLICK HERE: Subscribe on YouTube!Flip Hacking LIVE tickets for October 2020 are available now… and the price is GOING UP soon. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your seat now. Sign up below!- CLICK HERE: FlipHackingLIVE.com====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out...Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click Here: https://7figureflipping.com/subscribe7 Figure Flipping Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://7figureflipping.com/listenFacebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

I used to think wholesaling houses was “scammy.”But that was before I understood it.And once I understood the critical role wholesalers play in the real estate market and how they add value to sellers AND buyers, it was like the ceiling was blown off…I went from doing a couple deals per year to 67 deals my first year wholesaling.And it completely changed my life.I haven’t shared my story on here in a while, so I want to do something different with this podcast episode…Just over a week ago, I held a “virtual event” for U.S. military veterans and active duty service members who invest in real estate or who want to start.(My original plan was to hold this event in person, but COVID-19 had other ideas.)I’ve taken my presentation from that event and dropped it here, uncut just like I delivered it to our paying attendees.I’m breaking down my story, my background, my journey……as well as some tips and tactics you can use to ramp up your own real estate wholesaling business right now.My hope is that this will inspire you and give you some actionable takeaways to implement.Catch you on the flip side!Links and ResourcesWant to get all the recordings from Veterans REI Live? For a limited time, you can still get access. All proceeds go to support Veterans Community Project, a charity that builds houses for homeless veterans. To get access to all the recordings (and support the cause), hit the link below!- CLICK HERE: VeteransLive.comFollow the 7-Day Flip series on YouTube! Can Tyler Jensen and his team flip 4 houses in 7 days? (Start to finish, full renovations.) Time will tell... We'll be releasing a new episode every week till the end. Subscribe to the 7 Figure Flipping YouTube channel to get future episodes as they're released!- CLICK HERE: Subscribe on YouTube!Flip Hacking LIVE tickets for October 2020 are available now… and the price is GOING UP soon. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your seat now. Sign up below!- CLICK HERE: FlipHackingLIVE.com====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out...Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click Here: https://7figureflipping.com/subscribe7 Figure Flipping Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://7figureflipping.com/listenFacebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

I’m hanging out with Steve Pollack, CEO and President of Anchor Loans… and we’re talking about something that’s on every house flipper’s mind. What’s in store for the real estate market, and how can flippers continue to fund their deals?A lot of funding sources for real estate investors have been holding back, changing their terms, or completely shutting down the past couple months.The reason? Uncertainty.No one knows what will happen in the real estate market 9 months from now (and beyond).But there’s a LOT of data we can look at… and the news is surprisingly good.Steve Pollack has been involved in tens of thousands of transactions, has been in the lending world for more than 21 years, and has seen two downturns come and go already.He has some IMPORTANT insights to share with house flippers and all other real estate investors.Listen in!Links and ResourcesAnchor Loans is one of the top funding sources for members of the 7 Figure Altitude and 7 Figure Runway mastermind groups. I’ve had a great relationship with them for years, and they’re one of just a couple lenders we use and highly recommend to our members. If you’re looking for a way to fund your next flip, head over to AnchorLoans.com.- CLICK HERE: AnchorLoans.comFollow the 7-Day Flip series on YouTube! Can Tyler Jensen and his team flip 4 houses in 7 days? (Start to finish, full renovations.) Time will tell... We'll be releasing a new episode every week till the end. Subscribe to the 7 Figure Flipping YouTube channel to get future episodes as they're released!- CLICK HERE: Subscribe on YouTube!Flip Hacking LIVE tickets for October 2020 are available now… and the price is GOING UP soon. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your seat now. Sign up below!- CLICK HERE: FlipHackingLIVE.com====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out...Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click Here: https://7figureflipping.com/subscribe7 Figure Flipping Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://7figureflipping.com/listenFacebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

Last week, we launched Episode #1 of a new TV miniseries following Tyler Jensen as he and his team tackle the "impossible" task of flipping 4 houses in just 7 days!In this video, we’re going "behind the scenes" of Episode #1 to dig deeper into what happened, to share some details that didn't make it into the final cut, and to hold some live Q&A.This series is just getting started. Each week, the next episode will premiere on Monday evening……and then, every Thursday, I’m going to host another live Q&A session like this one where we’ll break down the episode, take you behind-the-scenes, reveal more details, talk about lessons learned, and share some house flipping tips and inspiration.Make sure to subscribe to the 7 Figure Flipping YouTube channel to get in on the action!Links and ResourcesFollow the 7-Day Flip series on YouTube! Can Tyler Jensen and his team flip 4 houses in 7 days? (Start to finish, full renovations.) Time will tell... We'll be releasing a new episode every week for the next 10 weeks or so. Subscribe to the 7 Figure Flipping YouTube channel to get future episodes as they're released!- CLICK HERE: Subscribe on YouTube!Flip Hacking LIVE tickets for October 2020 are available now… and the price is GOING UP soon. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your seat now. Sign up below!- CLICK HERE: FlipHackingLIVE.com====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out...Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click Here: https://7figureflipping.com/subscribe7 Figure Flipping Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://7figureflipping.com/listenFacebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

House flipper, author, and speaker, J Scott, joins host, Bill Allen, to give his 10 essentials for building a solid business foundation. J Scott spent much of his early career in Silicon Valley, where he held management positions at several Fortune 500 companies, including Microsoft and eBay. In 2008, J and his wife Carol decided to quit their corporate jobs, move back East, start a family, and focus on real estate investing. In the past ten years, they have bought, built, rehabbed, sold, lent-on and held over $60M in property all around the country. J is also the co-host of The BiggerPockets Business Podcast and the author of four books on real estate investing, which have sold over 200,000 copies and have helped investors from around the world get started with real estate.The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties was instrumental in Bill’s success getting started in his business. Listen in iTunesEnjoy the podcast? Subscribe and leave us a review!To hear all episodes of the podcast, visit https://7figureflipping.com/podcast.J’s essential business lessons:1. The biggest mistake you’re making in your life today is not saying “No” enough.2. Money is not the goal – it’s the currency you use to achieve the goal. Until you realize that, you’ll never feel settled.3. It’s unlikely you’re going to make money doing something just because you love it. It’s unlikely you’re going to make money if you don’t love what you’re doing. 4. Your desire to look wealthy is a detour on your road to being wealthy.5. If the amount of money you earn is limited by the number of hours you work, you will never be wealthy.6. The value of any cash-flowing asset is going to be driven by the amount of cash it throws off to the owner (at least the part of the value that you control). Want your cash-flowing assets to be worth more? Figure out how to increase the amount of cash your assets throw off.7. There’s only two ways to increase the amount of cash your assets throw off: 1. Increase the income it generates or 2. Decrease the cost of owning that asset. Every minute you spend focused on your cash-flowing investments should be spent either figuring out how to increase income or decrease expenses.8. To increase income in a business, don’t focus on sales; focus on leads. Get more leads, and the increase in sales will take care of itself.9. The best way to decrease expenses for any business or investment is through creating long-term efficiencies.10. The ROI on any investment is going to boil down to two things: 1. The risk of that investment and 2. Your ability to negotiate. Good negotiation doesn't just make you more money, it reduces your risk.11. The fastest way to build a successful business is to copy off someone else who has already done it. And no, this is NOT unethical.12. At the end of the day, being a successful entrepreneur boils down to only two skills: 1. Building a great product and 2. Being able to sell it.13. In business and investing, there are two main sources of leverage: Money and People. If you’re not using both, you’re under-performing.14. To build a successful business, your product/service must either be cheaper or better than the competition. Most of us aren’t smart enough to succeed through cheaper, so you should probably focus on better.15. If you don’t have a competitive advantage, you’ll only win by being cheaper. But, like I said above, most of us aren’t smart enough to succeed by being cheaper. Make sure you have a competitive advantage.16. If you don’t think you have a competitive advantage, you’re not thinking hard enough.17. Want lots of money? Stop focusing on your problems and start focusing on other people’s problems.18. If two investments are offered publicly (meaning, other people have access to them), the one with the higher ROI will necessarily have more inherent risk than the one with the lower ROI. "No risk" investments don’t exist and if the return offered on an investment seems too good to be true, it probably is.19. Give credit. Take responsibility. Never the other way around.20. Busy isn’t the same as productive. Most of us are busy. Few of us are productive. Links and ResourcesFlip Hacking LIVE tickets for October 2020 are available now… and the price is GOING UP soon. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your seat now. Sign up below!- CLICK HERE: http://FlipHackingLive.comWant to get my exact house flipping system? I’m holding a FREE live training where I’m going to break down how I’m flipping 15 houses every month from my home office (without buying the houses myself or spending any money to fix them)... and how you can flip houses in any market (no matter what happens to the economy). Seats are limited... sign up below!- CLICK HERE: https://7figureflipping.com/7df-system====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out... - Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click or Tap Here: https://7figureflipping.com/subscribe- Facebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/- 7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click or Tap Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

If the 7 Figure Flipping community has proven anything, it’s that nothing is impossible. Its new 7-Day Flip series, like the four-minute-mile in 1954, shows that many things seem impossible until someone does them. Bill Allen’s infant son, James, needed four open heart surgeries in the first six months he was alive. The 7 Figure Flipping community gave a gift of $35,000 to the Children’s Heart Foundation in James’ honor before he was even born. A year later, the community sponsored the Jared Prescott Trust, providing wells and schools in Myanmar. Two years ago the 7 Figure Flipping community donated $150,000 to support Operation Underground Railroad (OUR) in the fight to end human trafficking.  Last year the donation to OUR was $155,000. Now the 7 Figure Flipping community is GIVING AWAY A HOUSE to a Gold Star family. The impact 7 Figure Flipping has had on others in the past few years is awe-inspiring, yet an even greater impact lies ahead. Hear host, Bill Allen, share his vision for the 7 Figure Flipping community in this episode and be inspired!Listen in iTunesEnjoy the podcast? Subscribe and leave us a review!To hear all episodes of the podcast, visit https://7figureflipping.com/podcast.Links and ResourcesFlip Hacking LIVE tickets for October 2020 are available now… and the price is GOING UP soon. If you want to learn the exact systems and strategies the nation’s top house flippers and wholesalers are using to flip 100s of houses per year, reserve your seat now. Sign up below!- CLICK HERE: http://FlipHackingLive.comWant to get my exact house flipping system? I’m holding a FREE live training where I’m going to break down how I’m flipping 15 houses every month from my home office (without buying the houses myself or spending any money to fix them)... and how you can flip houses in any market (no matter what happens to the economy). Seats are limited... sign up below!- CLICK HERE: https://7figureflipping.com/7df-system====================Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out... - Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click or Tap Here: https://7figureflipping.com/subscribe- Facebook Group: We've built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/- 7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click or Tap Here: https://7figureflipping.com/ Hosted on Acast. See acast.com/privacy for more information.

What’s it like to be the project manager on four house flips in just seven days?In this episode, host Bill Allen talks to Jeffrey Lowe, the contractor for the 7-Day Flip YouTube docuseries. The 7-Day Flip series follows a house flipper and his crew as they attempt four 7-day house flips in just one week.Bill and Jeffrey discuss exactly how they managed to pull this project off, as well as key insights every house flipper needs to know, like how to find and manage good contractors.Go inside the mind of a contractor with today’s guest, Jeffrey Lowe.Catch Episode 1 of 7-Day Flip Monday night on the 7 Figure Flipping YouTube channel, and make sure to subscribe so you never miss an episode.Enjoy the podcast? Subscribe and leave us a review!To hear all episodes of the podcast, visit https://7figureflipping.com/podcast. Hosted on Acast. See acast.com/privacy for more information.

What happens when you give a visionary house flipper and his crazy team a seemingly impossible task? You get 4 house flips in 7 days. Yeah, you heard right, 4 houses fully flipped from start to finish.In this episode, host Bill Allen previews the new 7 Day Flip series with the flipper himself, Tyler Jensen. They discuss each of the challenges Tyler had to overcome to flip multiple houses in just one week. Don't miss Episode 1 on our YouTube channel, launching Monday, May 25th. Make sure to subscribe! You can see a sneak preview here: https://www.youtube.com/watch?v=m3jLbixHKC8&feature=youtu.be.Each week you'll get a new episode breaking down exactly how they managed to pull this off... and how you can use these same strategies to jumpstart your real estate investing business.Make sure to subscribe so you never miss an episode! You can see a sneak preview here: https://www.youtube.com/watch?v=m3jLbixHKC8&feature=youtu.be.Watch the Justin Williams retirement video here: https://hf.houseflippinghq.com/retirement.Enjoy the podcast? Subscribe and leave us a review!To hear all episodes of the podcast, visit https://7figureflipping.com/podcast. Hosted on Acast. See acast.com/privacy for more information.

How are experienced real estate entrepreneurs dealing with the effects of the Coronavirus shut down?In this episode, host Bill Allen, asks members of the 7 Figure Flipping Altitude group and his Blackjack Real Estate team to describe in their own words what they’re facing, how they’re feeling, and how they’re moving forward. The insights from these 14 different real estate professionals will encourage you, inspire you, and remind you that you’re not alone out there.Enjoy the podcast? Subscribe and leave us a review!To hear all episodes of the podcast, visit https://7figureflipping.com/podcast. Hosted on Acast. See acast.com/privacy for more information.