The 6 Figure Flipper With Matt Aitchison - Learn From World Class Investors on Flipping Houses, Buying Rentals & Wholesaling - 03: Using Wholesaler Relationships To Build Consistent Deal Flow | Devin Elder

03: Using Wholesaler Relationships To Build Consistent Deal Flow | Devin Elder

03/18/18 • 50 min

The 6 Figure Flipper With Matt Aitchison - Learn From World Class Investors on Flipping Houses, Buying Rentals & Wholesaling

Devin Elder is owner and/or partner in a number of Real Estate investment companies and owns a portfolio of over 100 units of single family and multifamily investment properties. He has been a featured guest on some of the world’s leading investment podcasts, Business Insider, and various television programs discussing Real Estate investing.

What you will learn:

What did Devin’s first deal look like? (6:45)

How Devin started developing relationships with wholesalers. (13:40)

What is Devin’s biggest win so far. (18:20)

What are some of Devin’s best systems he implements that he wishes he put into place sooner. (23:40)

What is Devin’s biggest lesson learned since he became a full time real estate investor. (28:45)

What is the one unique thing that his company does that is ahead of the industry standard. (32:40)

What are some of Devin’s favorite tools and resources he uses inside his business. (35:11)

What is the most important piece of advice Devin would give to other real estate investors. (42:41)

Quotes:

Once you step over that line and finally do a deal something happens and you become a different person.

Having real estate numbers on the flip itself, and then having a really good model to forecast revenue are two things to swear by.

In order to be a rock star for my lenders all the stuff on the back end has to work perfectly.

Use your attention as if it is costing you money.

Resources: Help spread this uplifting content by leaving a review on iTunes: http://bit.ly/MMiTunesReview

Stay in touch with Matty A: Website: https://mattaitchison.com Facebook: https://www.facebook.com/officialmattya Instagram: https://www.instagram.com/officialmattya YouTube: https://www.youtube.com/channel/UCinIteUWBIk-ycgg5i7q99w/featured

Stay in touch with Devin: Personal Website: http://www.devinelder.com

What you will learn:

What did Devin’s first deal look like? (6:45)

How Devin started developing relationships with wholesalers. (13:40)

What is Devin’s biggest win so far. (18:20)

What are some of Devin’s best systems he implements that he wishes he put into place sooner. (23:40)

What is Devin’s biggest lesson learned since he became a full time real estate investor. (28:45)

What is the one unique thing that his company does that is ahead of the industry standard. (32:40)

What are some of Devin’s favorite tools and resources he uses inside his business. (35:11)

What is the most important piece of advice Devin would give to other real estate investors. (42:41)

Quotes:

Once you step over that line and finally do a deal something happens and you become a different person.

Having real estate numbers on the flip itself, and then having a really good model to forecast revenue are two things to swear by.

In order to be a rock star for my lenders all the stuff on the back end has to work perfectly.

Use your attention as if it is costing you money.

Resources: Help spread this uplifting content by leaving a review on iTunes: http://bit.ly/MMiTunesReview

Stay in touch with Devin: Personal Website: http://www.devinelder.com

Previous Episode

02: How To Retire With Real Estate Investing In Just A Few Short Years | Brandon Turner

Today we are joined by Brandon Turner, co-host of the BiggerPockets Podcast. Starting out with no money or experience, Brandon built his portfolio one property at a time to currently owning over 50 rental properties. In this show he’ll discuss how to creatively put deals together, the perfect mindset for real estate investing and one investing strategy he focuses on today.

About Brandon:

While working for $8 an hour Brandon sold his first home for a small profit. After that first transaction Brandon became infatuated with the notion of selling real estate for a profit and started house hacking and buying single family rental properties. With a current portfolio of over 50 rental properties Brandon is an expert at creatively finding and financing real estate deals.

Now a full time investor Brandon also is the co-host of the BiggerPockets Podcast and is the author of three Real Estate investment books “The Book on Rental Property Investing”, “The Book on Managing Rental Properties” and “The Book on Investing in Real Estate with No (and Low) Money Down”.

What you will learn:

Why did Brandon start with flipping houses? (5:50)

What was Brandon’s biggest challenge first starting out and how did he overcome it? (8:00)

What does Brandon tell everyone who thinks Real Estate is a “get rich quick” opportunity? (11:35)

What are some of the best tools and resources Brandon leverages for his investing business? (15:39)

What are the top priorities for any new flipper just starting out in their business? (18:24)

Now that he is interviewing some great real estate investors on a daily basis, what are some of Brandon’s biggest “ah-ha” moments of the past year? (24:17)

What does Brandon’s investment team look like? (26:44)

What advice does Brandon have for new investors about putting deals together? (29:24)

What is the BRRRR strategy? (30:26)

What is the one piece of advice Brandon would give to anyone to become a consistent 6 figure flipper? (35:26)

Quotes:

“I think I was making $8 an hour when I bought my first house.”

“Poor people say I can’t afford it, rich people ask how can I afford it?”

“When you focus on the process and commit for an extended period of time the results take care of themselves.”

“I have continually invested in a peak market and down market, but my underwriting became that much more important.”

“Once you have the knowledge you can do it again and again and again, nobody can take that from me.”

Resources:

Help spread this uplifting content by leaving a review on iTunes:

http://bit.ly/MMiTunesReview

Stay in touch with Matty A:

Website: https://mattaitchison.com/

Facebook: https://www.facebook.com/officialmattya

Instagram: https://www.instagram.com/officialmattya

YouTube: https://www.youtube.com/channel/UCinIteUWBIk-ycgg5i7q99w/featured

Free Content: text “REIREADS” to 44222

Connect with Brandon:

Website: www.biggerpockets.com

BiggerPockets Profile: https://www.biggerpockets.com/users/brandonatbp

Next Episode

04: From Broke And Couch Surfing To Flipping Over 650 Houses | Justin Colby

Learn how Justin Colby went from being broke and living on his friends couches to building a real estate empire that has flipped over 650 houses.

About Justin:

Justin Colby is the Founder and President of The Science of Flipping and Phoenix Wealth Builders. The Science of Flipping is a top ranked real estate investing Podcast on itunes and PWB is a professional real estate investment companies specializing in purchasing, rehab, wholesaling, wholetailing, and flipping properties in the Metro Phoenix Area. Justin has also been named the best-selling author on Amazon for The Science of Flipping Real Estate Investing Book and featured in Entrepreneur Magazine.

He and his business partner have flipped and wholesaled over 650 properties to date. Not only is he a very active and successful investor, but he also is a very powerful and successful real estate coach and public speaker who has mentored nearly 1000 real estate investors nationwide.

What you will learn:

What does Justin’s team and infrastructure look like to do that many deals? (11:28)

What is the importance of systems and what are some that are more important sooner rather than later. (17:40)

How important is knowing your numbers? (22:08)

What does Justin’s lead generation model look like to do 100+ deals a year. (24:48) What home criteria does Justin target for a deal and why. (31:30)

How does Justin overcome the hiccups and adversity that comes with real estate investing when things don’t go perfect. (36:37)

Where does Justin think the real estate market is going in the next 18 months. (40:08)

Quotes: Be very mindful of what you are thinking, because your thoughts are always listening.

If you come from a genuine place you always end up winning no matter what happens.

Activity is not the same as productivity.

What got you to doing deals isn’t going to get you to scaling your business, and what gets you to scaling your business isn’t going to get you to living the life you want.

Anytime you chase money, money runs. Do it for what you want to be doing not because you’re chasing money.

You’ll always achieve what you set out to achieve as long as you don’t ever give up.

Resources: Help spread this uplifting content by leaving a review on iTunes: http://bit.ly/MMiTunesReview

Stay in touch with Matty A: Website: http://mattaitchison.com Facebook: https://www.facebook.com/officialmattya Instagram: https://www.instagram.com/officialmattya

Stay in touch with Justin: Website: https://thescienceofflipping.com