Here’s the latest in my “man on the street” series of interviews.
Ron’s a relative new investor from Oklahoma who’d recently flipped a couple of short sales netting him more than enough to completely pay off all his business debt and still pocket a nice piece of change.
So I says, “Let’s hear his story!”
This is not a guru interview. Nothing for sale. It’s just my personal chat with Ron about his 2 deals, and I thought you’d enjoy hearing it.
Some of what we covered:
- The “numbers” on each deal (ARV, bank discount, purchase price, sales price, estimated repairs, profit, etc.)
- The “nuts and bolts” of each deal (acquisition methods, exit strategies, problems encountered, lessons learned, specific resources used, etc.)
- Are you a “short sales specialist” or a “real estate generalist?”
- What got you into short sales specifically?
- What’s your market like right now?
- What’s your median home price, and how did these deals compare?
- What’s your primary form of deal marketing?
- What were hurdles did you face and how did you overcome them?
- What were your biggest “take away” lessons from each deal?
Also, a few other bullet points I took down from our chat…
- High paid I.T. guy transitioning into full-time REI
- Profits from his last couple of deals more than completely paid off his $25k in business debt
- One deal he snagged INSTEAD of Cory specifically b/c of his own custom direct mail piece
- The benefit of an abundance vs a scarcity mentality
- Why he took the time out of one deal to teach an 80 year old former nun how to do a budget
- The one website he used to quickly flip BOTH houses in 10 days
- How he saves time by using technology to prescreen his potential buyers (even in today’s market)
So scroll up and give it a listen. Or download and listen later.
Either way, I’m glad to share it and hope you enjoy it.