422: From W2-Job Single Mom to Flipping Real Estate Rockstar with Amanda Young

12/03/20 • 59 min

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Amanda Young stumbled into real estate. After being let go from a job, dealing with a family emergency, and homeschooling her son, Amanda knew that she had to find a way to provide for her family, but also allow her to discover her hidden edge.

After finding BiggerPockets and joining a local REIA (real estate investors association), she decided to take the jump and buy her first rental. Now, in 2020, she has 7 rental properties and a flourishing flipping business, working with a partner that matches her energy.

Amanda found her localized niche by targeting owners of “sinkhole homes” and offering them deals that not only made sense for the buyer, but were a steal for her. She then used creative financing (really creative) to get these homes under contract.

Amanda is the definition of someone who has grit, and is willing to work hard to earn their piece. She talks through Section 2 deals, 1031 exchanges, refinancing, and even how to “COVID-Proof” your tenants, so when the next global emergency happens, you’ll be ready.

In This Episode We Cover:

How to fight your analysis paralysis and get deals done
What probate deals are and how to find leads
Why owner financing can be a win-win for buyers and sellers
How Amanda found a niche in “sinkhole homes”
Why it’s important to find a niche that others would run from
How to “COVID-Proof” your rental properties
Getting ahead as a woman in a male-dominated industry (flipping)
Empathizing with the seller so you’ll win negotiations (even with less money)
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show422

Learn more about your ad choices. Visit megaphone.fm/adchoices

In This Episode We Cover:

How to fight your analysis paralysis and get deals done
What probate deals are and how to find leads
Why owner financing can be a win-win for buyers and sellers
How Amanda found a niche in “sinkhole homes”
Why it’s important to find a niche that others would run from
How to “COVID-Proof” your rental properties
Getting ahead as a woman in a male-dominated industry (flipping)
Empathizing with the seller so you’ll win negotiations (even with less money)
And SO much more!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/show422

Learn more about your ad choices. Visit megaphone.fm/adchoices

Previous Episode

421: Family Over Everything: How Life Forced BP Founder Joshua Dorkin to Reevaluate His Choices

Many avid members of the BiggerPockets forum, listeners to the podcast, or readers of our articles may know our founder, Joshua Dorkin.

What you may not know is Joshua’s journey in founding, building, scaling, and finally leaving BiggerPockets. It was a hard decision for Joshua to leave, but thanks to his amazing team, he was able to (even during a time of tribulation in his personal life).

You’ll hear how Joshua was cranking out 100 hour weeks, working 7 straight days, for the first 6 years of BiggerPocket’s existence. He later transitioned to building a team, starting with the BiggerPocket Podcast’s very own host, Brandon Turner.

This later snowballed into more hirings, with the BiggerPockets growing faster and faster, and being able to scale larger and larger. Just at the time when things were starting to go from big to bigger, Joshua had to take time off to take care of his daughter’s medical emergency. This caused a shift in Joshua’s reality, so he dropped everything.

This keynote speech goes deep into what really matters most. It’s not money, it’s not success, but it’s something that matters even more: fulfillment and family.

Check out the video on our Youtube channel, and be sure to give Joshua a follow on Twitter at @jrdorkin.

In This Episode We Cover:

The history of BiggerPockets and how it grew to what it is today
Why “knowing everything” usually means knowing nothing
The importance of hiring smart, capable people
How to listen to your body and mind, to find out what you need most
Why you shouldn’t work 6 years straight with no time off
Why you need to do the “Big Scary Thing”
How life forces you to account for what matters most
Why Joshua Dorkin has 3 dads
And So Much More!

Links from the Show

Click here to check the full show notes: https://www.biggerpockets.com/show421

Learn more about your ad choices. Visit megaphone.fm/adchoices

Next Episode

423: Who Not How: Stop Doing the Things You Hate, Free Up Time, Be Happier and Richer with Dan Sullivan

Has anyone ever told you “you’re really good at that, you should make a business out of it”, if so, you may have inadvertently found your “unique ability”.

Author and coach Dan Sullivan joins us to talk about the secrets of success behind the 20,000+ entrepreneurs he’s coached over the past few decades. If you’re finding it hard to scale up your business, hire on more staff, or get rid of the stuff you hate doing, Dan probably has an solution for you.

As someone who’s built a coaching empire AND been bankrupt twice, Dan knows a thing or two about what makes asuccessful enterprise, and what doesn’t. His key to success? Create a self-managing company, that allows you, the entrepreneur, to do what you really love.

Hate going through spreadsheets? Great, hire someone who loves it! Don’t like picking up the phone to talk to investors? Cool, get someone who likes to chat! Love giving presentations to prospective clients? Great, make it your main job!

Whether you have one employee or thousands of employees, Dan shows how simple it is to designate tasks, get the right person doing the right thing, and free up time for you and the whole team! The best way to hear Dan’s advice and grow your company? Listen to this episode!

In This Episode We Cover: