Did you know that reports state that the average American Salary is approximately $52,000.00?
$52,000 GROSS…before taxes, healthcare, social security, etc.
Did you also know that, if done correctly, you could potentially make the average American Salary in just ONE FLIP? (Or at least pretty close).
We know that the 1% own some form of real estate in their portfolios and a large percentage of those assets are typically rentals (commercial and/or residential) , so it makes sense if you desire to be wealthy, rentals are the name of the game and should be considered as part of your long term wealth-building strategy.
However, we also know that because the average, gross, American Salary is hovering just above $50K and that most people could not afford a $1,000 emergency without leveraging credit, we know that most people are not in the financial position to just start off buying rentals , putting down 20% deposits, nor do some want to potentially house-hack (especially if you have a family).
But flipping could be your way out of the corporate rat race (that’s if you even desire to leave your 9-5).
One flip could replace your salary.
One flip could serve as the down payment towards that positive cash-flowing multi-unit that you’ve been eyeing.
One flip could buy a block of houses in certain neighborhoods where the rent is still relatively stable and increasing.
Just one flip could change the trajectory of your life forever and give you the start you need towards financial freedom.
But first let’s address three big myths.
MYTH 1: IT’S EASY AS HGTV
From experience, we can say that renovating houses is absolutely nothing like HGTV where they show complete remodels done in 30 minutes. Nor is your true profit as simple as “sale price – purchase-repairs = profit”. There is so much more that goes into analyzing flips and knowing what to look for is pertinent to completing a successful and profitable flip.
MYTH 2: FLIPPING IS JUST ANOTHER JOB
After flipping multiple properties, we have yet to do any of the labor ourselves. You can actually structure the flipping aspect of your business to be passive in a sense by proper delegation and having the right team (as with any business).
MYTH 3: YOU NEED A LOT OF MONEY TO START
To date, we have yet to bring a single dollar to the closing table when purchasing a property to flip. When you know how to analyze deals and creatively structure your deals, you don’t have to have a lot of money in the bank. We started out with nothing and recently made a net of $40K on a sale without any of our own funds. If we can do it, so can you!
Once you have finally made the mindset shift & committed to changing you and your family’s future, learn how to get started today by taking our FREE Real Estate 101 Class complete with weekly homework, a checklist, and an E-book which provides the basic fundamentals and starting point that you need to acquire your first investment property.