7 Figure Flipping with Bill Allen

We’re coming up on the end of the year…Less than 2 weeks left.And that means you’ve got less than 2 weeks to work on your tax strategy for 2019.As real estate investors, we face some unique tax considerations.Taxes can be your biggest expense.But there are a lot of ways to reduce and defer your taxes for the year.And getting this right could be the difference between taking home a healthy profit versus ending the year without much to show for your work.So let’s talk about tax strategy.On today’s episode of the podcast, I’m hanging out with my CPA Chris Picciurro as we walk through the 4 fundamental ways to approach your tax strategy and some of the specific things you can do to save on taxes this year and in the future.This is going to get pretty technical, and we’re going to cover a lot…Let’s dive in! Hosted on Acast. See acast.com/privacy for more information.

4 years ago, we started the original 7 Figure Flipping mastermind group.(Which is now called 7 Figure Altitude).One of the first members of the group was a retired NYPD officer named Joe Cordes.Joe got into real estate investing at the young age of 23.He bought a rental with his brother, fixed it up, and held it for a while.But then he stopped.He didn’t do another real estate deal for 25 years.He would sometimes look for properties and even made a few offers from time to time, but he was “nervous,” he says.There weren’t many good ways to learn the business.And the people in his life… his friends and family and coworkers… they weren’t investors or entrepreneurs, so he didn’t have anyone he could turn to for help.But after retiring from the NYPD, he decided to get into flipping.He flipped a house and made some money.Then he flipped another house and broke even.Then he flipped a third house and lost money.And at that point, Joe understood that he was flying blind and needed a different approach.He needed to get around a circle of people who could help him learn.That’s when he found 7 Figure Flipping.And the rest is history, right?Well… no.Joe’s story actually has a couple more twists and turns…And he’s learned some powerful stuff along the way.That’s why I asked him to join me on today’s episode of the podcast.Ready to get inspired? Let’s dig in… Hosted on Acast. See acast.com/privacy for more information.

If you’re working on your first flip… And you have a full-time job… …then this is for you. (Actually, there are some big takeaways here for EVERYONE, no matter your experience level.) For the past month or so, I’ve been interviewing some of our 7 Figure Runway and 7 Figure Altitude members, asking them to share their stories, their struggles, and their success. I want you to learn from them. I want you to get inspired. But more than that, I want you to get to know them. There are some truly amazing, driven, genuine people in our mentoring groups… …and Tanya Rooney is a shining example. She started her real estate investing journey about a year ago. Her first flip took about 6 months from the time she bought it to the time she sold it. And on today’s episode of the podcast, she’s sharing not just what she learned from that first flip but also a ton of other takeaways, including… The best way to learn how to flip or wholesale houses…How she funded her first flip…How she got her second deal (and how long it took)…Why she didn’t have to spend any money to do her first few deals…How she’s able to manage contractors and vendors better than ANYONE else…How and why she’s transitioning into wholesaling…The types of work she doesn’t EVER want to do…Her approach to building a team (and why it’s important from day 1)…The #1 strategy that’s working for her now…Her “6- month runway” she set up after Flip Hacking LIVE…What she and I talked about before she joined 7 Figure Runway…Her goals for this coming year…The unique “giving” plan she follows (and what she does with her profit)… …and more. Let’s dive in! Hosted on Acast. See acast.com/privacy for more information.

Yesterday, I went LIVE on Facebook to share some big news.In case you missed it, you can check out the replay here on the podcast!Here's what's up...I've been part of the 7 Figure Flipping community for years, first as a podcast listener, then as a subscriber, as a member of the 7 Figure Altitude mentoring group, and now as the owner and CEO of the 7 Figure Flipping company.It's been an awesome ride.But what makes this community truly special is the people who are part of it.(People like you.)And my goal with everything we do here is to get back to our roots and focus on the relationships that really matter.If you're reading this, I want you to know that you're part of this family.That's why I went live on Facebook...I wanted to give you an inside look at some big things we have in store, some changes we're making, and some awesome news for next year!If you haven't heard yet, we've changed the name of the company and the podcast (it's not House Flipping HQ anymore)...We've changed our branding (I'm loving the new look!)...We've massively overhauled our mentoring groups to give more to our members and help them grow...And now we're rolling out a new "home" for all of this (new website!) and taking Flip Hacking LIVE 2020 to a new location, plus some more cool stuff...I figured the best way to break all of this down was to hang out live on Facebook for a while and share the good news.If you missed the livestream, check out the replay here! Hosted on Acast. See acast.com/privacy for more information.

Ryleigh isn’t your average 13-year-old.She and her dad Nate are building a real estate investing empire one deal at a time…...and over the past year, they’ve really started ramping it up.They did 1 deal in 2018.This year, they’ve done 8 deals……and each one has been a bit different from the rest.So how does this father-and-daughter team operate this business together?And what were those 8 deals?Today’s episode of the podcast is fun, inspiring, and unique……and we’re digging into all of that and more!One of the major milestones in Nate and Ryleigh’s real estate investing journey was Flip Hacking LIVE.If you’re not familiar with Flip Hacking LIVE, it’s a live event we hold once each year.We bring the nation’s top house flippers and wholesalers together in one room, and they share their exact systems and strategies in detail.They break down what’s working and what isn’t.But for Nate, the most important part of Flip Hacking LIVE isn’t learning new tips and tactics.It’s the mindset shift that happens when you get around other serious investors.When you’re in a room with guys and gals who are doing 50, 100, even 200 deals per year……it changes your entire perspective.It changes what you believe you’re capable of.For Nate, Flip Hacking LIVE gave him permission to do more.Even with 8 deals underway this year, Nate knows he’s just scratching the surface……because he’s seen what’s possible.Before you can grow your business, you have to believe with 100% certainty that it’s possible.If these other investors can do it, so can you.But the only way to REALLY start believing it is to be there in person and get around the same people that Nate did.Watching a video or reading words on a screen won’t cut it.The energy of being there live is what makes the conviction real.In other words…If you want to grow your real estate investing business, you need to be in this room.We’re holding Flip Hacking LIVE again in October 2020.It’ll be in Orlando, FL, this time (first time on the East Coast).And from now until the end of the month, tickets are available at the massively-discounted early bird price. I want to make sure EVERYONE has a chance to get a spot.But seats are limited……so if you want to be there, go to FlipHackingLIVE.com and sign up now! Hosted on Acast. See acast.com/privacy for more information.

If you want to grow your house flipping or wholesaling business……you’re going to have to make a transition.At some point in your journey, you’re going to have to stop being the guy or gal who “does all the work” and start becoming the “visionary leader” of your business.As entrepreneurs, we know how to hustle.Most of us got into flipping and wholesaling because we’re hard workers. We’re driven.  We know how to get things done.But as your business grows, you’re going to have to start letting go.If you don’t, one of three things will happen…- You’ll burn out and quit.- You’ll bite off more than you can chew and end up losing money.- Or you’ll stay “stuck” where you are, limited by your own abilities.To scale your business, you have to get out of your own way.You have to make the transition from “being the business” to “leading the business.”That’s easier said than done.But on today’s episode of the podcast, I’m hanging out with 2 people who are going through this transition right now……and they have some great insights to share.I’ve known Jason and Jennifer Ross for a while.They started out doing 1 flip at a time, putting in most of the labor themselves.But this year, they’ll close 50 deals……and they have 5 active flips in process right now.It’s not all sunshine and rainbows, though.Like I said, making that transition can be difficult.So I asked Jason and Jennifer to jump on the podcast and share what they’re going through.Let’s dig in! Hosted on Acast. See acast.com/privacy for more information.

Hope you had a great Thanksgiving!For me, spending time with loved ones, eating great food, relaxing and enjoying the company of friends and family is what it’s all about……and I’m thankful my real estate investing business has given me the freedom to be present for these experiences.But that wasn’t always the case.When I first started flipping houses, I had to give up a lot of my free time.I was working more, not less.There were a lot of ups and downs.The other day, I was chatting with Shannon Amos, a member of the 7 Figure Runway group.She’s a couple years into her house flipping journey……and she’s going through many of the same ups and downs I went through.She’s had some huge successes……and some setbacks and challenges.I asked her to jump on the podcast with me and tell her story.We’re digging into a lot of things in this episode……but the one thing that stuck out to me the most from our conversation is her perseverance and her never-give-up attitude in the face of challenges in her business and in her personal life.If you’re feeling burned out…If you’re feeling stuck…If you’re feeling like life is getting in the way of your real estate investing business……then get ready to be inspired! Hosted on Acast. See acast.com/privacy for more information.

Chad and Ashly Whitaker started out buying rentals.But they quickly ran out of money and got “stuck” waiting for their income to slowly grow over the long term.They wanted to generate faster returns…So this past May, they started their first flip.They sold that house in July… and they now have their next couple projects underway.They’re been moving fast to ramp up their business while balancing working full time and homeschooling their kids……and since they recently joined 7 Figure Runway, I asked them to jump on the podcast and share their story.In today’s episode, they’re going to break down…Where they got their first deal…How they rehabbed it…What specific upgrades they made to the house…The importance of “sticking to comps…”How they’re financing their deals…The marketing strategies they’re attacking first…Hiring their first employee…Why they came to Flip Hacking LIVE…Their plans and objectives moving forward……and more!Whether you’re new to flipping and wholesaling or you’ve been doing this for a while, there are some awesome takeaways in here.Let’s dive in! Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeIf you’re new to house flipping and wholesaling, keep this in mind…Imperfect action is better than doing nothing.It’s good to learn everything you can…It’s good to be prepared…But at some point, you HAVE to take action.You have to take the first step.  Then the next step.  And the next.The pieces aren’t going to click into place until you start actually DOING something with what you’ve learned.I just finished chatting with Jaime Lazcano, a house flipper based in Texas.He’s new to real estate investing.And he’ll be the first to tell you that he still has a lot to learn.But he’s already finishing up his first 2 deals……and he’s on the path to do 8 more this year.He just hired his first employee.Within a few months of starting this journey, he’s already in growth mode.So how did he get these 2 deals?And what did he learn along the way?That’s what we’re digging into in today’s episode of the podcast…Get ready to be inspired!Like what you hear? Subscribe!If you've found any value or helpful information in the 7 Figure Flipping Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while you're at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them!The post 7FF 297: How Jaime Landed His First 2 Deals (And Why it’s Okay to Make Mistakes) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.

Listen to This EpisodeI want you to imagine something for a moment…You find a house on the MLS that you want to buy.You call up the listing agent and say you’d like to make an offer.The agent says, “Sure! Go ahead and fax me the offer.”What’s the first thought that would go through your mind?Probably something like What year is it?!Larry and Janet French had this exact conversation with an agent not too long ago.They’ve been in the real estate investing business since 2006.And when the agent asked them to “fax the offer,” Larry says it taught them an important lesson.That lesson is just one of the things Larry and Janet are sharing on today's episode of the 7 Figure Flipping podcast.Their real estate journey has been an unconventional one…They’ve flipped houses, bought rentals, and done a lot of private lending.At the start, though, they didn’t have any money of their own.But they were able to fund their deals 100% by putting themselves in a unique position to meet with the people who could help them.Recently, they made the decision to start growing and systematizing their business.They came to Flip Hacking LIVE and joined 7 Figure Runway……so I asked them to come on the podcast and share their story and their goals.There are some awesome takeaways in here… check it out!Links & ResourcesLooking for funding for your next flip?  Larry and Janet lend on deals in the state of California (with an emphasis on the desert areas of Southern California), and they’re able to fund deals very, very quickly.  To learn more and get funding, go to SilverMoonCo.com!Like what you hear? Subscribe!If you've found any value or helpful information in the 7 Figure Flipping Podcast, we’d love to hear about it! Head over to iTunes to subscribe, and while you're at it, leave us a rating (5 stars would be great!) and a review so that others who are interested in starting a house flipping business can find us and get in on the good stuff!  If you have any questions or comments about this show or its contents, please post them in the comments area below and I’ll be happy to answer them!The post 7FF 296: How to Get 100% Funding (And Other Tips for House Flippers) appeared first on House Flipping HQ. Hosted on Acast. See acast.com/privacy for more information.