REI096: Flipping & Wholesaling w/ Derrick Acuff

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 15 November 2021

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robert Leonard talks with Derrick Acuff about the lessons he learned from flipping and wholesaling real estate properties, how to manage many projects at once, some of the horror stories he’s experienced, how to find good contractors for deals and what red flags to watch out for when hiring one, what his strategy is for finding off-market deals, and much, much more! IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 01:36 - Why did Derrick make the transition into real estate full-time and what has it been like for him? 13:32 - What was his strategy when he first started in real estate, how has that evolved, and what is he working on now? 16:03 - What wholesaling is and why you could start it without a lot of money. 31:17 - When closing deals, how can new investors get over their fear of being nervous? 38:56 - What are some of the real estate horror stories Derrick experienced and how he got through them? And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Get more FREE content from Robert. Read the 9 Key Steps to Effective Personal Financial Management. Derrick Acuff’s Youtube channel. Jeff Olson's book The Slight Edge. Robert Kiyosaki’s book Rich Dad Poor Dad. Ryan Pineda’s book Flip Your Future. Antoine Martel’s book A Millennial’s Guide to Investing in Cash Flowing Rental Properties. Alan Corey’s book House FIRE. David Greene’s book Buy, Rehab, Rent, Refinance, Repeat. Find great markets to invest in with Wiserei. Real estate education platform BiggerPockets. All of Robert’s favorite books. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Robert: Website | Twitter | Instagram Connect with Derrick: Website | Instagram | TikTok Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.2	Everybody should start there because honestly, so many people crap on wholesalers,
0:06.2	and it is honestly the hardest part of this business.
0:08.7	If you got really good at wholesaling, you can do anything in this business.
0:14.4	On today's show, I chat with Derek Aikoff about the lessons he's learned from flipping
0:18.9	and wholesaling real estate, how to manage many
0:21.6	real estate projects at once, some of the horror stories he's experienced, how to find good
0:26.7	contractors and what red flags to watch out for when hiring one, what his strategy is for
0:31.7	finding off-market deals, and we talk about a bunch more as well. Derek is a father, entrepreneur, and successful real estate investor.
0:40.4	Outside of just this podcast episode, Derek has provided me a lot of value personally
0:45.3	and giving me a lot of insight into things I can do differently or better with my businesses.
0:50.7	So I'm sure you guys are going to get a ton of value from this episode too and hopefully really enjoy it.
0:55.8	Let's dive right in.
1:00.2	You're listening to Real Estate Investing by the Investors Podcast Network, where your host, Robert Leonard,
1:06.6	interviews successful investors from various real estate investing niches to help educate you on your
1:12.2	real estate investing journey.
1:22.3	Hey everyone. Welcome back to the Real Estate 101 podcast. As always, I'm your host, Robert Leonard. And with me today,
1:29.1	I have Derek Aikoff. Derek, welcome to the show. Awesome. Thanks, man. Thanks for having me.
1:34.1	I'm happy to be here. We know each other a bit from the mastermind that we're in. But for those who are
1:39.8	listening that don't know you yet, tell us a bit about your background and your story. How did you get into
1:44.6	real estate? It's kind of funny because I always had this like knack for real estate growing up.
1:50.2	When I was in high school, one of my buddies' dad owned a bunch of dominoes and I grew up playing
	...

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