So you want to learn how to flip a house

Many aspiring real estate entrepreneurs are in love with the idea of ​​selling houses for big profits. After all, who hasn’t seen one of those cable TV shows like “Flip This House” where the guys are collecting paychecks of $ 50,000 or more just for putting paint and carpet on? They make it look so easy, right?

The truth of the matter is that being a professional real estate investor is serious business. It is not some kind of house flipping game. The directors involved in every transaction and the dollar amounts, not to mention the legal issues and livelihoods involved, require integrity, diligence, and in-depth knowledge of the industry.

Every year, many people have stars in their eyes and imagine themselves learning how to change a house like the kids on TV, earning those big checks. The problem is that they do it without a real roadmap, without a plan of how to get from A to Z. The potential problems, of course, with this road are plentiful. You could:

1. Spend a lot of money in the wrong places with nothing to show

2. Waste your time on inefficient tasks

3. Being involved in illegal activities without even knowing it

4. Let yourself be consumed by the very business you are trying to build, spending more time on it than on your old job.

5. He becomes frustrated and impatient, gives up his dream.

Michael Gerber from the landmark book “E-Myth” says that most small business owners spend too much time IN their business rather than IN their business, a key reason for early business failure. Understanding this key concept is crucial for someone building a business and lifestyle rather than creating another job for themselves.

So what can a budding entrepreneur do? The answer is in those same guys you see on television. You see, most of them have a roadmap to success. In fact, the most successful business owners in any industry have been taken under the wing as the protégé of a mentor, a mentor who had their best interests in mind. A mentor who had already discovered the business doing it themselves.

And there are the fundamental keys to real estate success: having a plan and the guide to follow it. Advantages of the ‘plan approach’ over the ‘shotgun approach’ include:

1. Get higher profits on every deal

2. Spend your money and time efficiently on the right activities.

3. Be informed about the appropriate legal and regulatory matters.

4. Get paid earlier than if you had spent time learning it yourself

5. Discovering the true entrepreneur in you!

6. Working on your business

There are many programs to help you start or teach you the whole business. Maybe you’ve seen a few on late-night infomercials or been pressured by an MLM real estate company. Unfortunately, some programs are taught by those who just teach, they don’t “do it.”

How to flip a house

However the FortuneBuilders Mastery The real estate training program run by Than Merrill and his partners was recently ranked number one in business education of all industries by Inc. Magazine. In fact, Than’s company is actually one of the teams in the “Flip This House” television. You don’t get on that show without knowing your business from the inside out. Their Mastery program is designed to replicate their ‘systems approach’ for new investors in other markets, earning higher returns in less time, without reinventing the wheel.

The domain may or may not be suitable for you. It is demanding, thorough, and at times overwhelming. However, true entrepreneurs reading this will seize the opportunity to at least apply. Are you ??

Regardless of the coaching program you choose, if you choose one, you will need to learn the right way to change a home, from finding motivated sellers to wholesaling to cash buyers or using private equity to finance your own acquisitions. Make sure those who work in the trenches detail their program with a knowledge plan that they can deliver. Mentoring is incredibly valuable; just make sure it’s the mentoring that provides the plan you’re looking for.