In the Flip Training Academy we teach how to obtain financing, how to find lenders, how to find partners, how to flip using little to no money. We have an entire training devoted to lending and how to access and find capital for projects. Each lender is different as far as qualifications and that will be up to the borrower and lender coming to an agreement on terms.
How will I know if I qualify?
If you choose the route of lending to fund your flip opportunities we are strictly a guide of how to go about It, it will be up to you coming to an agreement with a lender based on the qualifications they require. We do stress in the training the importance of getting pre-approved and meeting with several lenders up front and shopping around so that you can find the best lender partner for you in going about your business.
Do I need real estate or construction experience?
Although experience helps in any business or trade, our training aims to give you the information necessary to be successful in the flip business and to give you the do’s and don’t and strategies we have learned over hundreds of flips that you can learn from.
How can I find homes to flip?
Our strategies will show you how to source flip opportunities on the market and more importantly off the market, we have found through our experience that some of our best strategies have come from “off market” opportunities meaning homes that are not currently for sale. We teach many ways of how to find these to be ahead of your
How much of the hands on construction work can I expect to do in a flip?
As much or as little as you choose. If you have the skill level to do it
yourself and save money, that is up to you. We have always hired
handymen and contractors and have not done the work ourselves, it’s
How do I find contractors to do the work?
One of our full trainings is devoted to finding contractors in your area,
how to pay them, how to hold them accountable to budgets and
timelines, and how to work with them over time.
Will it work in my area?
We have found that the fundamentals of flipping homes works in
virtually all markets in the country. Markets do move in cycles and it’s
important to understand where you are at in the cycle for the
opportunity however there are typically always homes and
neighborhoods that have disrepair, need work, and have upside
potential. The fundamentals don’t change from town to town of what
to look for and how to analzye a deal. Certain markets have nuances
and it’s important to really understand your market and the upsides
and downsides but people flip homes in all cities across the country
and other countries.
How long should it take to complete a flip?
This all depends on the skill of you or your construction team, the
decision making abilities for making design and construction
decisions, and how much work you are doing to a property. Time is
money in this business so the quicker you can turn these around, the
better your returns will be when you sell.
How much should I invest in the flip
This all depends on what the home needs and price points of the
neighborhood and finish quality you will need, however you don’t want
to over spend or underspend because you want to maximize value, we
teach in the trainings how to budget, make decisions, the top areas to
spend your budget to maximize value, and much more.
Should I do Single family homes or condos?
Both can be fantastic opportunities and our group has done both.
Condo’s many times however can come with many more rules due to
Home associations, CC&R’s, condo complex condition, etc. We teach
how to analyze deals and what to look for, but it’s up to you which you
choose to specialize in.
Can I really start with little to no money?
Yes, this is how we started with two strategies that we teach, either
wholesale flipping which we teach which isn’t determined on actually
flipping the home, you are flipping the contract which we teach.
Also, by partnering with investors, you find the deals, they put up the
money, and you work out a strategy for how the profits are split up. We
teach you how to potentially structure these pay plans and how to find
and work with investors to reward both sides.
What are the tax benefits or tax liabilities?
This is not an area we train on or advise, we stress the importance of talking to a
tax professional prior to doing any deals so that you fully understand the
implications and liabilities for tax reasons.
If you have any other questions we are happy to take a Discovery Call with you so we can make sure this Academy is the right fit for you. Schedule your Discovery Call or you can also Email Us.