How We Doubled Our Profit & Made $120,000 (Doing The Takedown Method) | Flipping Mastery Show
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 16 June 2024
⏱️ 29 minutes
🧾️ Download transcript
Summary
Today on the Wholesale Hotline Podcast (Flipping Mastery Edition) Jerry is joined by Jordan Budd to break down a wholetail deal.
Show notes -- in this episode we'll cover:
- Why Jerry and Jordan did a takedown vs. a traditional wholesale.
- What is the Takewdown Method (a.k.a. wholetailing).
- Exactly how Jerry was able to double his profits.
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Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, it's Terry Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.6 | We just made a net profit of $120,000 on this property in Reedsville, North Carolina. |
| 0:25.8 | Now I'm going to do an interview with my partner, Jordan Budd, who was the guy on the |
| 0:29.6 | ground that did this deal and put it together. |
| 0:32.3 | And we're going to show you exactly how we did this deal. |
| 0:35.1 | Now, we did it follow in a technique called the takedown method. |
| 0:38.3 | And this isn't anything new. A lot of people call this wholesaling. What we ended up doing was he ended up buying the property and then putting it on the MLS and reselling it for a $120,000 profit. |
| 0:49.3 | Now, this technique called the takedown method is something that I'm talking quite a bit about right now. |
| 0:54.7 | I think it's an amazing strategy. |
| 0:57.5 | We actually doubled our profit. |
| 0:59.3 | We had a cash buyer for $65,000, which was a home run deal in and of itself. |
| 1:04.1 | That fell through. |
| 1:05.1 | We ended up taking it down, which we bought it, we funded it, turned around, and resold |
| 1:09.3 | it on the MLS for 120,000. |
| 1:11.6 | Literally doubled our profit by doing it this way. |
| 1:14.6 | So it's a technique that you really need to learn. |
| 1:16.6 | And I've got an entire series here, how to do this strategy called the Take Down Method. |
| 1:21.6 | Even where to get 100% funding for these deals. |
| 1:24.6 | And this is something I'm working on quite a bit. |
| 1:26.6 | To get 100% funding, we are now buying these deals if Now this is something I'm working on quite a bit to get 100% funding. We are now |
... |
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