How One Investor Replaced His Salary with Flips & Rentals
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- Опубліковано 23 чер 2024
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🎙️ Episode 349 - Discover the strategy of flipping to fund your rentals with Jonathan's 20+ years of expertise. Learn how to craft the perfect buy box and uncover deal-finding tactics for lasting success in real estate. Finally, we cover strategic planning and community support for building your wealth.
📄 Show Notes:
www.coachcarson.com/flipandrent/
▶️ Next Video: My First Rental Property (17 Years Later)
• My First Rental Proper...
🎬 Topics Covered:
01:01 - What Is Jonathan's Ideal Flip Scenario?
03:07 - What Is Jonathan's Ideal Rental Property?
08:25 - Price Ranges of Rental and Flipped Properties
10:17 - Why Jonathan Got Into Real Estate Investing
13:51 - The Early Days of Entrepreneurship
17:21 - Should You Get Your Real Estate License?
22:11 - Income Strategies for Flipping and Renting
30:57 - Jonathan's Advice For Finding Deals
32:59 - The Power of Direct Mail
38:38 - Having a Plan Especially In The Early Stages
47:33 - My First Rental Property (17 Years Later)
🔗 Connect with Jonathan:
Website: www.letssellitnow.com
UA-cam: / @wilmingtonhomegroup
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Footage & Photos credit to: Pexels.com & Pixabay.com
Good interview, Coach. He gave good, specific, concrete answers.
his buy box is EXACTLY what i have done.. keep it simple
Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $20K into trading from just few months ago and now they are multimillionaires
Jonathan, have you ever thought about starting a turnkey business of sorts? You are basically doing the work already and it seems like it could be a good fit. I've spent many years in Jacksonville, NC and know the area very well. Would love to hear more about the Coastal Carolina REIA as well! Great video and information.
What do you mean turnkey business?
@@LetsSellItNow Where you would have a steady flow of "flips" per say but maybe incorporate a PM company, lender, proforma numbers, etc. Have that available for customers of sorts to have access and for that access, you incorporate a specific fee on top of the ARV. I don't know a lot about it so just some ideas.
@durtydeedsREI not really interested in that. Doing all but the dispo already.
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key is diversification. Personally, I delegate my investing to an advisor, cos my job doesn't permit the time to perform market analysis myself. Thankfully, my once ago stagnant portfolio has now 5X in barely 4 years, summing up almost 7 figure as of today.
Lately, I've been researching advisors, but the market updates I've encountered haven't been very positive. Who's your guide?
Can't share much here, I take guidance from Evelyn Infurna a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.
Jonathan, I started analyzing the Jacksonville NC area for buy and hold but was having a tough time to make much work with the numbers. I kind of felt the price of insurance (wind specifically) was kind of killing my cashflow. Are the rentals you have in Jacksonville bought several years ago or have you had success recently finding good rentals up there where the numbers make sense?
Recently and several years ago. We just have to buy low, add value and get decent rates on the DSCR loans. More difficult than it has been but there's deals in every market.
👍
That’s what I say- if I would have…
It's not too late.
@@LetsSellItNow exactly. I was referring to the fact that I’d have 60 properties, not 6…working on the 7th
The cost is way more, not the value