130: Ten Smart Tips for Making $1M+ Flipping Houses with Will Barnard

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 July 2015

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will Barnard recently closed on a seven-figure profit house flip (that’s right… over $1M on one single house!) In this episode of the BiggerPockets Podcast, Will shares the story, as well as 10 specific and actionable tips for anyone looking to rehab a property. Be sure to grab a pen and paper for this show… you are going to need it! In This Episode We Cover: How Will’s doing since the last time he was on the show The famous 7 Figure Flip All the details you want to hear about that flip! The 10 things you need to become a better flipper How to know your market The importance of building a team before you buy The members you need on your team How to find quality contractors The importance of negotiation as a real estate investor The two numbers that you need in order to make an offer The ins and outs of using leverage How to build a reputation by taking care of your investors The importance of learning how to manage efficiently How to know where you can save (and where you shouldn’t) in flipping houses And SO much more! Links from the Show Diary of a Seven Figure Spread (Forum Thread) BiggerPockets Flipping Calculator BiggerPockets Forums Will Barnard’s First BP Podcast Interview BP Podcast 120: How to Find, Analyze, and Finance an Incredible Real Estate Deal! The Occupants from Hell (Forum Thread) Books Mentioned in this Show The 10X Rule by Grant Cardone The Book on Flipping Houses by J. Scott The Book on Investing with No Money Down by Brandon Turner A Million Bucks by 30 by Alan Corey Trump-Style Negotiation: Powerful Strategies and Tactics for Mastering Every Deal by George H. Ross Rich Dad’s CASHFLOW Quadrant by Robert T. Kiyosaki Tweetable Topics: “You really need to get the boots on the ground to know your market.” (Tweet This!) “Trying to flip from afar is really asking for trouble.” (Tweet This!) “Everything you do in the real estate field — everything — pretty much is a negotiation.” (Tweet This!) “Listening to people negotiate is really helpful.” (Tweet This!) “There’s no right or wrong answer here. It’s a matter of finding out what do you want.” (Tweet This!) “You can’t be scared to fail because you’re going to fail.” (Tweet This!) Connect with Will Will’s BiggerPockets Profile Will’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast, Show 130.
0:04.4	And I did net, oh, just slightly above a million dollars.
0:08.4	You're listening to Bigger Pockets Radio,
0:11.4	simplifying real estate for investors large and small.
0:15.4	If you're here looking to learn about real estate investing without all the hype, you're
0:19.4	in the right place.
0:21.3	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:27.0	Your home for real estate investing online.
0:30.0	What's going on everybody? This is Josh Dorkin, host to the BiggerPockets Podcast here with my co-host, Mr.
0:36.2	Birthday Boy himself, a big fat giant three zero years old. That's right, he's 30 ladies and gentlemen. He's finally growing up.
0:46.8	The men, the myth. Yeah, he's a myth. It's Brandon Turner. What up, B?
0:52.2	What up? Do I sound older and wiser? You still sound like a petulant little child
0:58.1	Well, that is because I'm still 29 because we were recording this a few days before my birthday, this intro.
1:04.4	We recorded the interview a month and a half ago with Will, but yeah, my birthday is in a couple
1:08.9	days and I'm going to be the big 3-0, which means I get 30 spankings.
1:13.2	Do you remember that?
1:15.1	Like when you're kid?
1:16.1	I don't remember that, but that's what you and your wife do for fun.
1:20.7	You know, that's usually our third question. This is not really an interview about you, but you know, I mean, if that's what you're doing, it's cool. I'm not going to judge you, Brandon.
1:29.4	It's all good. 30 shades of great. It's all right. Yeah, do what you got to do brother. I mean, you know, whatever makes you happy.
1:36.0	And listen, you seem to be pretty happy.
1:38.0	I am a happy guy. Pinch to grow an inch and a sock to grow a block, isn't that?
	...

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