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In this video, you'll learn the timeline for how fast you can flip a house GET PAID $10,000 to find deals for Jerry http://www.My10kCheck.com Jerry Norton is the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate. SUBSCRIBE: https://www.youtube.com/user/Jlnorton1234 FREE DEAL-FINDING SOFTWARE https://flippingmastery.com/datacruncher/yt/ FREE BEST-SELLING EBOOK: Making Money in Real Estate https://flippingmastery.com/ebook-10k/yt/ ALL-IN-ONE HOUSE FLIPPING SOFTWARE http://flippingmastery.com/flipster1/ Get Mentored by Jerry: http://www.FastTrackApplication.com FACEBOOK: http://www.Facebook.com/flippingmastery INSTAGRAM: http://www.instagram.com/realestatefreedomtv #FlippingHouses #HowToFlipAHouse #RealEstateMentoring
Paying Cash vs Using Leverage to Purchase Investments There are two distinct methods used for purchasing rental real estate: paying with cash or using leverage. In this video, I’ll weigh the two options, and supply information to help you understand which method is best for you. In this video, you’ll learn the pros and cons of traditional financing, private money lending, and using cash. I’ll talk about the limitations of a traditional mortgage, how to find private financing, and why purchasing with cash can be so powerful. You’ll also learn about a fantastic method for turning one rental property into a robust portfolio. I’ll share a few resources that will help you get your head in the game and start earning a passive income through real estate. Press play to learn more about your financing options for real estate investing! CapWest: https://goo.gl/UK881I Lima One Financial: https://goo.gl/xjTsPo Meetup.com: https://goo.gl/BDHv2H BOOK A FREE CALL WITH OUR TEAM TODAY AT MORRIS INVEST: https://goo.gl/DNIIh0 CHECK OUT OUR OTHER GREAT VIDEO PLAYLISTS LIKE: VIDEOS ABOUT TURNKEY REAL ESTATE INVESTING: https://goo.gl/1bGEhB OR VIDEOS ABOUT GETTING STARTED IN REAL ESTATE https://goo.gl/dPfWeY OR VIDEOS ABOUT REAL ESTATE NEWS https://goo.gl/m1b3U8 SUBSCRIBE AND JOIN OUR AWESOME COMMUNITY: https://goo.gl/Polf6I LISTEN TO THE PODCAST: iTunes: https://goo.gl/vM969n FOLLOW ME ON SOCIAL MEDIA: Twitter: http://www.twitter.com/claytonmorris Facebook: https://www.facebook.com/MorrisInvest Instagram: https://www.instagram.com/claytonmorris
On today’s video I’m going to show you what a Proof of Funds (POF) is, when it’s needed and the 5 steps for how to get it even if you don’t have the cash. Get ready to learn everything you need to know about proof of funds. ALL-IN-ONE HOUSE FLIPPING SOFTWARE http://GetFlipster.com Hi it’s Jerry Norton and as a real estate flipper your offers must be presented as “all-cash.” Most people misunderstand what that means. It doesn’t necessarily mean you have a suitcase of $100 bills equal to the offer price. It doesn’t even necessarily mean you have liquid cash sitting in a checking account at the bank. It could mean those things but what it really means is that you don’t need traditional financing with a bank and that your offer is not contingent upon getting financing approval from the bank. In other words It removes the financing contingency. This makes your offer better and stronger than other offers that do have a financing contingency. So as a flipper you should always make your offers “all-cash” and what’s nice about wholesaling is you’re going to flip your contract to an eventual cash buyer and don’t actually need the cash anyways. Often times before a seller will agree to go under contract with your all-cash offer, they want to see proof that you’re an all-cash buyer. “Show me the money!” Agents will request proof of funds before accepting your offer. They don’t want to go under contract and take the property off the market unless they feel comfortable that you can actually close on the deal. Now there are 2 forms of proof of funds, soft POF and hard POF and it’s critical you understand the difference. I’m going to break it down for you on this video. Soft proof of funds is a letter from a financial institution that states they have a relationship with you and that they will give you the funds for the deal as long as it meets their lending guidelines. In other words - a pre-approval. Many private and hard money lenders will give you a soft proof of funds in the form of a letter that you can provide to the agent or seller but you need to understand it’s not a full approval to lend you a specific amount of money on a specific deal. And in most cases a soft proof of funds in the form of a letter is sufficient for agents and sellers but sometimes they require a hard POF. A hard proof of funds is either proof of liquid funds such as a suitcase full of cash or a bank account statement showing the cash or a full loan approval from a lending institution. That means the lender approved a specific dollar amount for a specific property and agree in writing to fund the deal. Now here’s where it gets tricky…You can’t get a hard POF unless you have a contract because a hard money lender isn’t going to approve you for a loan unless you actually have a contract. Well what if a seller doesn’t want to go under contract unless you have a hard POF. You can’t get a hard POF without the contract an you can’t get a contract without a hard POF. Now what…? Here’s how I handle this situation… If the agent or seller will not accept a soft PofF letter and require hard proof of funds, I try to meet in the middle following these 4 steps. Step 1: explain to the agent and/or seller that you can’t get a full loan approval without first having the contract. Step 2: put in writing that you upon acceptance of the contract you have 5-7 days to provide a hard proof of funds otherwise the contract is null and void. Step 3: To give further comfort to the agent or seller, offer to leave to property active so they continue to get showings and don’t lose any time coming off market. You also can offer to increase your EMD to help the seller feel even more comfortable. Step 4: Once they seller agrees and you have an executed contract, immediately get your contract to your hard money lender and get them to fully approve your deal in writing. Inform them of your contingency and deadline so they know the urgency. Step 5: Once you get the approval, get it to your seller and remove the POF contingency and move forward with closing either top buy the deal using hard money or wholesale it to a cash buyer. -------------------------- Jerry Norton is the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate. GET PAID $10,000 to find deals for Jerry http://www.My10kCheck.com SUBSCRIBE: https://www.youtube.com/user/Jlnorton1234 FREE DEAL-FINDING SOFTWARE https://flippingmastery.com/datacruncher/yt/ FREE BEST-SELLING EBOOK: Making Money in Real Estate https://flippingmastery.com/ebook-10k/yt/ Get Mentored by Jerry: https://flippingmastery.com/fasttrackyt/ FACEBOOK: http://www.Facebook.com/flippingmastery INSTAGRAM: http://www.instagram.com/realestatefreedomtv #FlippingHouses WholesalingRealEstate #HowToFlipAHouse
Thanks to the reality TV shows “flipping” has now become a household phrase. However most people have no idea how it works so on this video I’m going to break it down for. Coming up is Real Estate Flipping for Dummies. ALL-IN-ONE HOUSE FLIPPING SOFTWARE http://GetFlipster.com Some of what I’m going to cover in this video you may have heard before but it is rarely, if ever, taught in a correct and complete way, which is why 99% of flippers struggle and don’t earn 6-figure incomes. My definition of flipping is a real estate transaction that creates a profit in 12 months or less. The general concept is to buy or acquire a distressed property at a discount and then re-sell it or flip it for a profit. It’s important to know that of all the real estate transactions that take place each and every day, 95% of them are sellers who want to sell their property and they want to get full market value. The other 5% of transactions are sellers who need to sell do some kind of hardship that is going on. Either the seller is financially distressed or the property is distressed but they are what we call a “motivated seller.” And here’s the thing…these motivated sellers are willing to exchange equity for peace of mind. What exactly does that mean? It means they will sell their property to you for a substantial discount if you’ll take the property off of their hands and relieve the stress or hardship that property is causing them. And there are hundreds of reasons why someone would be a motivated seller such as they are behind on their mortgage payments and the bank has started the foreclosure process. We call that pre-foreclosure. They might actually be in foreclosure and are about to lose the property. It could be a bank owned property where the bank took it back and now wants to quickly sell the property. It could be a seller who is delinquent on their property taxes. It could be a burned-out landlord who just wants to get rid of his unwanted rental property. It could be a probate sale where the family inherited an unwanted property. Watch this video to learn 3 tips when talking to motivated sellers. https://www.youtube.com/watch?v=7_AHaeGipsI Your job as a flipper is not to create motivation in a seller but rather find the 5% of sellers that are already motivated. Once you’ve found a motivated seller, there are 2 basic methods to flip the deal and make a profit. The first is called “Fix and Flip” and there are 3 steps… Step 1 is to acquire a distressed property with equity from a motivated seller Step 2 is to add value to the property by making improvements and then… Step 3 is to market and sell the property to a retail buyer or homeowner for full market value. Like the charlotte deal and the Seattle deals I just shared with you. The 2nd method of flipping is called “wholesaling” and here are the 3 steps… Step 1 is to acquire a contract to purchase a distressed property with equity from a motivated seller step 2 is rather than purchasing the property, you assign or flip your contract to another investor. Step 3 is the new investor steps in and purchases the property and pays you a wholesale fee or what’s often called an assignment fee. Like the example I just gave on the deal in Michigan. Here I earned a $23,000 assignment fee by flipping my contract. So what are the pros and cons of each method? Well the idea behind the fix and flip method is to do “more work for more profit later.” Remember with fix and flip you need to purchase and fund the deal, pay for and manage the repairs and then market and sell the property. Once you re-sell the property is when you realize a profit. If you follow my system, you can earn from $25,000 to $75,000 or more per deal so it’s very lucrative. Wholesaling on the other hand is “less work for less profit now” because you don’t need funding if you do it right and there’s no managing renovations or marketing and selling to homeowners. You get a small piece of the profit up front and then you’re done and you leave the lion share of the work and profit for the next person. And if you follow my system, you can earn on average from $5,000 to $25,000 or more per deal. -------------------------------- Jerry Norton is the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate. GET PAID $10,000 to find deals for Jerry http://www.My10kCheck.com SUBSCRIBE: https://www.youtube.com/user/Jlnorton1234 FREE DEAL-FINDING SOFTWARE https://flippingmastery.com/datacruncher/yt/ FREE BEST-SELLING EBOOK: Making Money in Real Estate https://flippingmastery.com/ebook-10k/yt/ Get Mentored by Jerry: http://www.FastTrackApplication.com FACEBOOK: http://www.Facebook.com/flippingmastery INSTAGRAM: http://www.instagram.com/realestatefreedomtv #FlippingHouses WholesalingRealEstate #HowToFlipAHouse
When it comes to buying your first home, you might think your first home should be a single family home. http://persingergroup.com But here are 5 reasons your if you're a first time home buyer maybe your first home should be a condo. Buying a home? Buying your first home? Looking at a single family home with a yard for your first home? Maybe you should think or rethink about looking at a condo if you're buying first home. http://insiderealestateshow.com ================================ Subscribe to the Inside Real Estate Show Subscribe to http://youtube.com/user/persingergroup?sub_confirmation=1 ================================ LINK for this video is: https://youtu.be/PNDGFoxtZwM This episode is also on Apple iTunes: You can listen to this conversation on iTunes: https://itunes.apple.com/us/podcast/inside-real-estate-show-darin/id1087114866?mt=2 Darin's personal website: http://darinpersinger.com Real Estate Resources For You: Want to know the value of your home? Start at http://getyourinstanthomevalue.com If you're shopping for a new Lake Stevens real estate, a home in Monroe, WA an Everett home, a house in Snohomish, visit http://persingergroup.com If you're ready to sell your Lake Stevens home, or your Monroe, WA home or sell your Everett home or sell your Snohomish home visit http://persingerrealestate.com If you're a homeowner in Snohomish County, check out the Snohomish County Real Estate Market Update page at http://www.persingergroup.com/real-estate-market-report/ CONNECT: http://twitter.com/darinpersinger http://instagram.com/darinpersinger or visit http://persingergroup.com Snohomish Real Estate Snohomish Realtor Snohomish Real Estate Agent Lake Stevens Real Estate Lake Stevens Realtor Lake Stevens Realtor Everett Real Estate Everett Realtor Everett Real Estate Monroe, WA Real Estate Monroe Realtor Monroe Real Estate Agent Darin Persinger is a KW Western Realty state of Washington real estate broker.
Some business partnerships make sense and some do not. In this video, we answer the question, "Should I get a business partner when flipping houses?
ALL-IN-ONE HOUSE FLIPPING SOFTWARE
Jerry Norton is the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
GET PAID $10,000 to find deals for Jerry
FREE DEAL-FINDING SOFTWARE
FREE BEST-SELLING EBOOK: Making Money in Real Estate
Get Mentored by Jerry:
#FlippingHousesForBeginners #HowToFlipAHouse #RealEstateTraining