611: Using a "Miserable" Job to Fuel a Fast-Growing Flipping Portfolio w/Jason Pritchard

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 19 May 2022

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

House flipping is a very potent form of investing. After just one fix and flip, many investors find themselves hooked, leaving their stable jobs for the profit (and rush) or finishing another flip. This happened quickly to Jason Pritchard, flipper and rental property investor in central California. Jason was working at a sales job he hated and after watching one of the many famous HGTV flipping shows, thought, “Hey, I could do that!” He gave it a try, using his life savings and retirement funds available to him. It was a success, so he decided to scale up. One flip grew to a few, and now, Jason's team does over seventy-five flips and wholesale deals per year! This incredible volume didn’t happen overnight—it took Jason seven years to go from W2 worker to one of the best flippers in the state! And it’s not just flipping Jason is after. He’s been able to grow a massive rental property portfolio, some eighty-three units, at the same time! You’re probably wondering how Jason did this so fast. Worry not, as he details every step from how he finds leads, builds a team, pays the taxman, and even compensates employees. If you’re trying to get your foot into the flipping door, Jason’s story should inspire you to do almost exactly what he did. In This Episode We Cover Using the skills from your job and translating them to make real estate riches Building a business and the most important step most flippers/wholesalers skip Funding your flips and why paying taxes might be a good thing when it comes to financing How to find employees that will grow with your business, even if you feel like you “can’t” hire just yet Private money lenders and using them to scale your business even bigger And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Invest in David and Rob’s Next Property David’s YouTube Channel Grab Your Tickets for BPCon 2022 BiggerPockets Money Podcast Real Estate Rookie Podcast Airbnb How to Flip a House & Make a Profit How to Build a Highly Effective Real Estate Team How I Find Private Money Lenders to 100% Fund My Deals Books Mentioned in the Show: The Go-Giver by Bob BUrg Think and Grow Rich by Napoleon Hill Connect with David: David’s Instagram David’s BiggerPockets Profile Connect with Rob: Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Rob's BiggerPockets Profile Connect with Jason: Jason's Instagram Jason's Facebook Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-611 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Puckest Podcast Show, 6-11.
0:04.4	If you would have told me that seven years ago,
0:07.2	when I started that I'd be doing what I'm doing right now,
0:09.7	I wouldn't have believed that it was even possible.
0:11.5	And what was sad would be I wouldn't even believe that I was the kind of person
0:14.8	that was capable of doing it, which was even more sad for me, right?
0:18.1	And I had to get into this space where, you know, we proved to ourselves
0:23.1	and we had proof of concept like, wow, this works.
0:25.1	And wow, I am capable of doing it.
0:26.5	And that confidence, that self-confidence,
0:28.6	is like a muscle that you build over time.
0:30.6	And now, you know, when I say that I'm going to do something,
0:33.1	I know that it's going to happen because for the last seven years,
0:35.2	I've been doing everything that I've been saying that I'm going to do, right?
0:37.9	And so it doesn't start out that way,
0:39.7	but you can get there and it doesn't need to take a lifetime.
0:48.7	What's going on, everyone? My name is David Green.
0:50.6	And I'm your host of the Bigger Puckest Real Estate Podcast,
0:53.3	the best real estate investing podcast in the entire world.
0:57.5	Here are Bigger Puckets. We believe in helping you find financial freedom
1:00.7	through real estate so that you can live life on your terms and do what you are meant to do
1:05.3	instead of what you have to do.
	...

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