How to Start a House Flipping Business (The Sandwich Method), Ep. 9

With all the house flipping shows on TV these days Eric and Theresa get a lot of questions about how they started their house flipping business. You know, that's something they'd LOVE to teach you. So in this episode - it's actually PART TWO of an eleven-part series they are doing to teach you the ins and outs of house flipping - Eric and Theresa take you through the first important thing you have to get into your head in order to build a successful system that feeds your business constant revenue. Want to know what it is? Be sure you take the time to listen to this short episode. Everyone likes a PB&J Sandwich - especially when it comes to house flipping. Good old peanut butter and jelly. It's one of those joys of childhood, the fond memory of youth, right? But Eric and Theresa use it as an illustration of their house flipping system - they call it the Sandwich Method. Think of it this way: one slice of bread is the cash buyer who will eventually purchase any property you flip, the other slice of bread is the motivated seller who you build rapport with in order to purchase their home, and the peanut butter and jelly? That's the profit "spread" you make in the deal. Spread… get it? Anyway, Eric and Theresa explain it in detail on this episode, so don't miss it. If you start with the end in mind, your house flipping business can be set up right. The first mindset you need to understand and adopt as you start building your house flipping business is this: start with the end in mind. In house flipping, that means that you need to think all the way to the end of what you're trying to do - sell a property to a cash buyer for a profit. And you start there by finding cash buyers, even before you have a property to sell them. Why do you do it that way? How does it work? Those are the questions Eric and Theresa answer on this episode - and it's not something you see on the TV shows, so be sure you listen to learn this important strategy. Here are some great tips for building out a list of cash buyers for your house flips. How easy would it be to sell a house you've renovated if you had a list of 20, or 30, or 50 interested cash buyers who have already told you exactly what kind of houses they are looking to buy? How would that impact the types of houses you put under contract in the first place? Those two questions have probably already shown you how important it is to build a list of cash buyers - but how do you do it? On this episode of Sage Flipping Secrets Eric and Theresa give you a number of practical ways you can find those buyers, build that list, and get your house flipping business rolling. Here is a system you can create to keep your house flipping business running without you. Finding distressed properties, putting them under contract, renovating them, marketing and selling them for a profit - it sounds pretty complicated, doesn't it? What would you think if you were told you could get all of that done without being involved in the process unless you wanted to be? You'd probably think the person telling you that was crazy, or trying to sell you something. But it's true - and establishing and refining the right systems are what make it possible. In this "part two" episode Eric and Theresa tell you how to start a house flipping business and exactly how to create systems that run most of it for you. This is worth sharing. Outline of This Episode [0:46] Intro to the Sandwich Deal - our auto part system. [1:45] Starting with the end in mind (a cash buyer) is the key to the entire deal. [3:53] Why we call it the "sandwich deal" - hint: you're the peanut butter and jelly. [5:36] If you just start out in flipping how do you build a list of cash buyers? [8:45] Building out the system to make it all work. Resources & People Mentioned Bigger Pockets Real Estate Forum LinkedIn (find investors there) Facebook Real Estate Groups Upwork (find a good real estate VA to build your buyer's list) Pipedrive CRM Podio Google Sheets Connect With Sage Flipping Secrets - Sign up for the free web class

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How to Start a House Flipping Business (The Sandwich Method), Ep. 9 is an episode from Sage Flipping Secrets - real estate flipping, investing, and proven cash flow with Eric and Theresa Sage by Eric and Theresa Sage.

This episode is 14:45 long.

This episode was published on Oct 16, 2017.

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