Tentmaking Tips

And the answer is really simple.

It doesn’t matter.

Huh?

I tell people this all the time. How you get started in real estate really doesn’t matter. The key is just getting started doing something.

Why?

Because once you get into the real estate world, you’ll find out over time what interests you the most. Just get involved somewhere.

Sometimes people overthink where & how to get started and I remind them that the where & how don’t matter that much.

Here are ways people might get started:

• Landlord

• Multi-family

• Development

• House Hacking

• Flipping Houses

• Real Estate Agent

• Short-term Rentals

• Commercial Brokerage

The list could go on.

Perhaps a great way to choose is to find someone you know & respect that is involved in real estate. Take them out to lunch & ask them to tell you more about what they do. Maybe they’ll offer you the opportunity to tag along & learn from...

I’d like to go through each of them & talk about ways to overcome them.

Barrier #1: Mindset

Many people in ministry think that since flipping houses isn’t in their primary skillset, there’s no way they could do it. They hear about it, like the idea, but immediately talk themselves out of it because their mindset is that it’s not possible for them. The good news is that mindsets can be changed. If you take a look at all of the Student Success Stories in past newsletters, you’ll see that people in ministry, with no real estate background, have successfully flipped houses.

Barrier #2: Education

This is connected to the first barrier but someone may assume the education required to learn house flipping would be difficult or beyond their grasp. The truth is, while there is certainly an education component in the beginning, it’s...

I totally get it.

One of the principles that I love in the best-selling book, Atomic Habits, is the idea of breaking down big goals into very small next steps that don’t seem so intimidating.

Why not do that with flipping houses?

Instead of thinking about building a house flipping business in 2024, what about trying to flip just one house?

Surely you could do just one if you had the entire year to figure it out, right?

And what’s really cool about flipping houses is just one flip can make you life-changing money.

Once you flip one house, maybe you’ll want to try a second, then a third, and before you know it, you’ve built a business flipping houses with employees that run it for you.

But it all...

If you missed the first six, here they are:

$140,874 Profit - Student Deal Highlight

$13,000 Profit - Student Deal Highlight

$26,000 Profit - Student Deal Highlight

$23,637 Profit - Student Deal Highlight

$50,000 Profit - Student Deal Highlight

$81,500 Profit - Student Deal Highlight

Profit

The student in today’s deal highlight made $6,000 in profit. This was a fire damaged property which basically sold for the value of the land. The student originally had it under contract for $20,000 but was unable to sell it. The seller was eager to sell and was willing to reduce the purchase price to $8,000. The student found a buyer who was willing to pay $14,000, leading to his $6,000 profit for the land with an unsalvageable home.

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The...

We find these by using marketing to contact sellers & express an interest in buying their property.

Part of the reason we’ve bought all of our properties this way is because it was very difficult to find a “deal” on the MLS. Too much competition.

Well, with recent market changes & higher interest rates, many investors are beginning to find “deals” on the MLS.

What’s great about MLS “deals” is that they don’t have any marketing cost, which increases your profit.

Our team is now daily making offers on MLS properties. And the best part is that these properties are being automatically emailed to us each day.

Here’s how we’re finding good MLS deals:

1. Have your Realtor friend set-up...

We send postcards and letters to sellers asking if they’d be interested in an offer on their home. I also have a course & coaching program where I teach others to do the same.

When sending mail, you occasionally have to change the type of mail you’re sending because what you’ve been sending isn’t performing as well as it used to.

That happened to us recently.

We had been sending out a certain postcard for several years that performed very well, but it wasn’t performing like it used to.

Around this time my 16 year old daughter was also looking to make extra money. She already did some babysitting but wanted to work in her Dad’s business if possible.

We had an idea.

Buy unique craft envelopes in bulk (birthday invitation size).

Have her handwrite the address on the envelope.

Put a real peel & stick stamp on...

I’m living proof that’s not true.

It’s a numbers game.

If you talk to enough people & make enough offers, you will find deals.

In a hot market, you may have to talk to more people to find a deal than in a cooler market, but they’re still out there.

We just closed on a deal this week that we plan to do a “Lipstick Flip” on.

We had people offering us $10,000-15,000 more than we paid for it just to “Quick Flip” it to them, but we knew if we put a little work into the house, we could make significantly more than that.

We plan to do a light remodel & then sell it again to a family who will live there.

How did we find this deal?

It was a referral from a seller we had bought a deal from previously.

We called them about a year after the first deal & asked if they had any other properties they’d be interested in selling.

They did.

If you missed the first five, here they are:

$140,874 Profit - Student Deal Highlight

$13,000 Profit - Student Deal Highlight

$26,000 Profit - Student Deal Highlight

$23,637 Profit - Student Deal Highlight

$50,000 Profit - Student Deal Highlight

For today’s Student Deal Highlight, I’m going to let the student share it in his own words.

This is a student who has been through our Flip Hacking Course and also our Flip Hacking Freedom program for students who have done 5+ deals.

Here’s the story in the words of the student:

We are calling our last deal the Duolingo deal.

I started learning Spanish everyday 713 days ago to reach our local mission field better. Who knew it would also net us a big deal.

We had texted the seller...

If you missed the first four, here they are:

$140,874 Profit - Student Deal Highlight

$13,000 Profit - Student Deal Highlight

$26,000 Profit - Student Deal Highlight

$23,637 Profit - Student Deal Highlight

Profit

The student in today’s deal highlight made $50,000 on this particular deal. He put a 5-property package under contract for $390,000. This basically means that one seller had 5 properties he wanted to sell & sold them all to the student as a group. Then the student sold the property package to an investor for $449,000. The student agreed to pay almost $9,000 in back taxes for the seller out of his profit and he also had closing costs to pay. The final amount the student earned was $50,000.

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The student found this deal...