Automating House Flipping

[@freedom_mentor]

Make more money flipping houses with less effort through mentorship in my Apprentice Program. Apply here: www.freedommentor.com/apprentice

[@ShaneHummus]

People always looked for steady stream of money. And this one is a good one for flippers.

[@yankeedoodle6293]

I currently have 32 multi family homes in my portfolio, mostly 2/3/4 family homes..Fully renovated and occupied. They’ve all been refinanced with banks at rates under 5%. In addition, I own 19 mostly 1 family homes that are in 1 stage or another of renovation and getting ready to be put up for sale. The money I earn from flips I use to both acquire new properties and pay down existing debt (bank loans/mortgages) It took me 18 years to become an overnight success 👍 My goal is to ultimately have my entire portfolio debt free with a value of 10-12Mil

[@mikezhou8408]

Hey Yankee, may I ask how you were able to refi all the properties with that kind of rates?

[@salimgautam9844]

Yo bro can you teach me how?

[@miguelinspirado]

Breath of fresh air hearing from the GOAT PHIL

[@supermario9200]

Phil you were missed! Thank you for coming back! I have a video suggestion for you. Why not cover Self Storage? A growing industry in Real Estate.

[@freedom_mentor]

Because it sucks compared to Mobile Home Parks, RV Parks, certain Multi-Family and of course, Short Term Vacation Rentals.

[@supermario9200]

@@freedom_mentor Thank you for your feedback. Good luck on future projects.

[@stuartperez4604]

This phil is just another reason why your blessed!! Amen

[@MikeRosehart]

Man I love your channel Phil. Since the beginning. Your channel inspired me to make my channel too :) 12k subs but I’m growing :)

[@VladArnoldner]

Thank you Phil. Your videos are energizing!

[@Je.rone_]

Thanks Phil

[@nikonadolo9709]

Hi Phil...Thank God you are Back..its been while..to hear your voice again..Great Mentor..

[@Shawk95]

Phil Good tips. These will be applicable to people like me about 10 years down the road. LOL

[@MarcusLeepapi]

Looking nice..

[@devonr7497]

Im hopefully going to own a fix and flip business doing 1000+ houses a year eventually, making 30k personal net profit average a house which is conservative. That is 30 million a year personal profit from my business, im currently 18 and will for sure get a mentor before it is time and I get the money to start. Good luck to everyone and thank you for all the teachings you do its changing lifes.

[@megenberg8]

i heard on the real estate radio show this morning that residential is now & has been a seller's market for a while now. one thing has been of concern to me lately, and that's the housing shortage. one other item would be the price of homes/rental rates with respect to income/earning. for many homes are out of reach and rents are very high. it would seem that there is somehow a way to address these issues that good be profitable and useful to society. think of the volume. how to make rentals durable over the long term is probably the most important aspect of owning rental properties of any kind (after collection). you are very energizing and helpful!

[@freedom_mentor]

The housing shortage is a huge benefit to real estate investors. It's not a concern; it's wind at your back. It's also a huge benefit to rental real estate investors that rental rates have raised to meet market conditions too. Rental real estate does require a consistent, pro-active maintenance program to ensure it stays durable. It's never been a better time to be a residential real estate investor!

[@megenberg8]

@@freedom_mentor got it!

[@jtkalaf]

Great video!! Thanks, Phil!

[@Planetgreenzen]

Great freedom Phil!!!

[@dhpitcher]

I have a video request for you Phil. A few days ago I watched several news clips about Trumps plan to change capital gains tax. Apparently he wants to change it to where capital gains indexes inflation. Could you explain what this means and how this effects flippers? Thanks!

[@freedom_mentor]

It won't. Flippers resell properties in less than a year, which is short term capital gains, and that is taxed at ordinary income tax rates.

[@wellreaduser119]

What are the sources for paying for leads? Do you pay listing agents to send you potential deals or are there any third party services that watch for those homes to pop up?

[@freedom_mentor]

Agents provide "ON-market" deals. You need to get to the "OFF-market" deals.

[@matthewjames1172]

phil, what do you do when the bubble is so big in your area that property (even the lowliest) cannot be had at a deal for less than intrinsic value?

[@freedom_mentor]

Your question is pre-supposing that you personally have access to absolutely every on & off market deal in your marketplace at this moment in time (which is impossible because there are always off-market deals that no one else knows about that when you get to them, you can't lose). So first and foremost, focus on off-market deals that no one else knows about. Second, intrinsic value may play a role in purchasing long term holds but when it comes to flipping, your definition of what a property's intrinsic value is really doesn't matter. With flipping, you are getting in and getting out. So what if the property's intrinsic value is, for example, $200,000 (according to your definition), when a retail buyer is willing to pay $250,000 for that house? Should it matter that your assessment is that it is a $200,000 house?

[@matthewjames1172]

@@freedom_mentor thanks for this detailed explanation. appreciated. i only asked because you said in one of your other videos that you have never purchased a property for more than its intrinsic value.

[@JESUS_IS_GOD]

Thanks Phil ...

[@freedom_mentor]

Since you have been watching my videos for a long time, you would probably guess that my position is that you must be the controlling owner in the deal. Being a 2nd lien holder is the opposite of control. You would have absolutely no control if you became the lender. Don't invest $405,000 of your capital in a real estate deal unless you have majority control over the deal. You need to have control in the deal, even if you have a "partner" that you "trust".

[@JESUS_IS_GOD]

@@freedom_mentor Thank you Phil for your precious time & knowledge 🙂✝️ Godbless

[@JCMPremiumTV]

how many businesses do you have and what are they, all real estate related? Thanks

[@freedom_mentor]

All of my businesses are connected to real estate in some way. Obviously the one the public sees is my creative real estate investing and mentoring operations. But that's just the beginning. Some of my real estate related businesses remain top secret because I am slowly rolling them out nationally and don't want any competition along the way.

[@asdfaam]

what other businesses do you have? Do you stick to only real estate or like any other business?

[@freedom_mentor]

All of my businesses are connected to real estate in some way. Obviously the one the public sees is my creative real estate investing and mentoring operations. But that's just the beginning. Some of my real estate related businesses remain top secret because I am slowly rolling them out nationally and don't want any competition along the way.

[@jasonchi7339]

Hi Phil, How do we participate in the apprentice program?

[@freedom_mentor]

Apply here: www.freedommentor.com/apprentice

[@davidmitchell3783]

As usual great video, Phil. I have multple properties in dc, va, md, pa, and a few other states for you to check out. I can send them to you for a finders fee if you buy them.

[@jamessutton2197]

👍👍 thank you sir!

[@MarcusLeepapi]

Thanks...

[@lostintime8651]

I love telling people what to do.

[@kentheengineer592]

Without hiring a team of 15 people or less how do you automate house flipping

[@zexks]

How does this automation strategy jive with your lack of enthusiasm around property managers? Or is this more of a just create your own property management company and hiring your own people? That seems chicken and eggish.

[@freedom_mentor]

I developed my own systems and hired staff to be my inhouse property managers.

[@unityservices4180]

can you contact me I'm interested in your mentor course

[@freedom_mentor]

Apply here: www.freedommentor.com/apprentice

[@kentheengineer592]

Buy in bulk from 1 seller there you go

[@haydencastro8678]

How long should you keep your employees? I got screwed by my assistant manager who stole a total of $67, 000.00 and also by supervisors. Because I trusted them. When you said that your contractors know you so well and they know what you want. I knew my assistant manager for over seventeen years and now my trust level is down to zero. When I was at DIY I didn't lose money. So my question is, "how long should you keep anyone who works for you?"

[@supermario9200]

As Phil mentioned in this publication, fire quickly. Hire people slowly and then check the books after the manager's shift. Make sure that they are not stealing from you. Keep an eye on the bookkeeper as Phil mentioned and you should be fine.

[@ajayreddy8732]

There were early signs you got to look back and see what they were. Some poeplr test you early. Little stealing

[@kentheengineer592]

Stop wasting effort and time waiting for people so that you can get your opportunity instead look for people who are desperate and highly motivated like there life depends on the deal closing assuming the numbers work out and the projections for the profit were not way off you should be okay

[@lostintime8651]

please don't use that "S" word. Thanks...

[@lostintime8651]

Too many real estate investors are "employees" to their business...