House flipping is a very potent form of investing. After just one fix and flip, many investors find themselves hooked, leaving their stable jobs for the profit (and rush) or finishing another flip. This happened quickly to Jason Pritchard, flipper and rental property investor in central California. Jason was working at a sales job he hated and after watching one of the many famous HGTV flipping shows, thought, “Hey, I could do that!”
He gave it a try, using his life savings and retirement funds available to him. It was a success, so he decided to scale up. One flip grew to a few, and now, Jason's team does over seventy-five flips and wholesale deals per year! This incredible volume didn’t happen overnight—it took Jason seven years to go from W2 worker to one of the best flippers in the state! And it’s not just flipping Jason is after. He’s been able to grow a massive rental property portfolio, some eighty-three units, at the same time!
You’re probably wondering how Jason did this so fast. Worry not, as he details every step from how he finds leads, builds a team, pays the taxman, and even compensates employees. If you’re trying to get your foot into the flipping door, Jason’s story should inspire you to do almost exactly what he did.
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Episode 611
Show notes at:
00:00 Intro
04:01 Quick Tip
05:26 A Serious Rental & Flip Portfolio
07:51 Using a "Miserable" Job to Fuel a Fast-Growing Portfolio
13:55 Flips, Rentals, and Trading Taxes for Financing
25:29 Building His Team
36:54 The #1 Step to NOT Skip
39:06 Financing His Flips & Building a Business
47:16 Deal Deep Dive
51:33 Famous Four
Recommended Reading >> bit.ly/32kRpzw
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