Archive for March, 2016

Episode 27: [Team Building] Finding and Working with the “Right” Contractors w/Erik Saengerhausen

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Show Notes

Erik Saengerhausen has been developing his owner financing real estate investment company for over 6 years. He and his business partner, Mike Arch, run Alamo Home Source. They buy houses, fix them up and sell them with owner financing. Then, they sell the notes to investors for incredible returns.

They currently flip more than 75 houses a year and are working up to 100 houses. That’s a lot of fixing up of houses! They know a thing or two about finding and working with the right contractors to be able to do that kind of volume consistently.

In this episode, we cover the definition of the “right” contractor for the typical real estate investor. We also talk about what negative aspects to look for when trying to find the “right” contractor.

Erik has a different model for paying contractors than I do. He has guys that he pays on a weekly basis rather than per job. I hire on a per job basis so that the contractor is paid per job rather than for the amount of hours worked.

That’s an important thing to keep in mind — there isn’t simply one correct way to work with contractors. There are lots of strategies for how to work with contractors and you should find the one that works best for you and your contractors.

Many times these discussions will focus on the point of view of the investor and not on what it means for the contractors. We discuss how important it is to make sure you see things from the contractor’s point of view as finding and keeping the right contractors working for you can mean the difference between success and failure in this business.

Download The Gifts


Recommended Books

stop flipping, stop renting book coming soon
Coming soon: Stop Flipping, Stop Renting by Erik Saengerhausen and Mike Arch

Links

Alamo Home Source
The Note Factory
Stop Flipping Book Website

Please Rate and Review

This is my simple request: If you enjoy the podcast and look forward to hearing a lot more episodes, I would be very grateful, happy, beholden and otherwise indebted to you to rate and review the podcast on iTunes.

It’s your choice and I do not want you to feel at all obligated. But I’d love it if you would subscribe and leave a rating and review.

Ratings and reviews allow the podcast to be seen by more people, which will help me achieve my goal of helping as many others as we can to get started in the house flipping business and change their lives.

Click here to rate and review our podcast! :)

Not sure how to leave a rating and review? Click here to view the instructions (it only takes 2 minutes)

How to Subscribe to the Podcast

There will be a brand new episode every single week, so be sure to subscribe and receive each episode as it’s released.

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The post Episode 27: [Team Building] Finding and Working with the “Right” Contractors w/Erik Saengerhausen appeared first on Flipping Junkie.

Episode 26: [Choices] Should You Get Real Estate License?

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Show Notes

Marco Romero has been in real estate ever since reading Rich Dad Poor Dad at an early age. He was actually on Episode 23 of the Podcast (When to set up a company for a real estate investing) and you can find out more about him and his start by checking out that episode.

Marco Romero is a real estate investor and a licensed real estate agent. In this episode, we talk about the pros and cons of getting your real estate license. There is no cut and dry answer to this question as it’s more about your specific situation and goals. We take an in-depth look at all possible scenarios so that you can make an informed decision on which way you want to go.

In this episode we talk about the pros of becoming a real estate agent. Namely, we discussed the fact that you get access to the MLS to find deals and rum comps yourself. We also mentioned how you educate yourself to know the ins and outs of real estate better than many investors do. We also talked about how you can save money by being able to list your properties yourself. You can also land more deals off the MLS by being able to sweeten the deal for REO agents and other listing agents.

We also talked about the cons for getting your real estate license. To me, there were more cons than pros…but I’ll let you be the judge of whether you feel it’s necessary for you. After all, that’s all that matters.
The cons were than you have to pay fees to be an agent. You have to also hang your license with a broker (at least in Texas). You also have to do all the paper work for transactions or hire someone to do it for you. You also have to provide full disclosure that you are an agent to all prospective customers and clients.

As for me, I’m going to continue to operate as a real estate investor without a license. It’s just not necessary. We would rather save time and pay a little more to have our properties listed and not have to deal with showings and paperwork. It’s just worth it to us.

We also generate most of our deals “off-market”. We mainly use our real estate investor website to generate most of the motivated seller leads we get.

Links

Marco Romero on Facebook

Please Rate and Review

This is my simple request: If you enjoy the podcast and look forward to hearing a lot more episodes, I would be very grateful, happy, beholden and otherwise indebted to you to rate and review the podcast on iTunes.

It’s your choice and I do not want you to feel at all obligated. But I’d love it if you would subscribe and leave a rating and review.

Ratings and reviews allow the podcast to be seen by more people, which will help me achieve my goal of helping as many others as we can to get started in the house flipping business and change their lives.

Click here to rate and review our podcast! :)

Not sure how to leave a rating and review? Click here to view the instructions (it only takes 2 minutes)

How to Subscribe to the Podcast

There will be a brand new episode every single week, so be sure to subscribe and receive each episode as it’s released.

subscribe
iTunes Subscribe on iTunes Stitcher Subscribe on Stitcher

The post Episode 26: [Choices] Should You Get Real Estate License? appeared first on Flipping Junkie.

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