Saturday Quick Tip -- It Only Takes 13 Deals To Make $1 Million In Profit Flipping Houses
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 11 January 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
On today's Wholesale Hotline Podcast (Special Saturday Edition), we help you start your weekend right offering tips, news and mindset advice.
Show notes -- in these episodes we cover:
- Tips to level up your wholesaling business.
- Motivation to keep you going on your real estate journey.
- The latest industry news to keep you updated.
Please give us a rating and let us know how we are doing!
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
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 Tiri Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.2 | We want to know how we're doing so please leave a comment and give us a rating. |
| 0:17.9 | I'm going to show you how to go straight to a million dollars in a 12-month window only doing 13 deals. |
| 0:24.6 | The first thing that we want to look at in order to do 13 deals and make a million dollars is the ARV. |
| 0:29.6 | Now, ARV is the after repair value. |
| 0:32.6 | This is the price that we're going to sell the home for once we fix it up. |
| 0:36.6 | Now, ARV, we want to be at |
| 0:38.4 | 513,000. Now what's great about this is we're not doing low end flips where we |
| 0:46.1 | have to do a lot of volume and we're not doing luxury flips. 500,000 is right in the |
| 0:50.4 | middle of the road. There's plenty of inventory, plenty of opportunity. Doing a |
| 0:55.1 | $500,000 flip is not that complicated. The rehab needs to be no more than $75,000. Now, the reason |
| 1:04.7 | you want to be at about $75,000 is because that's going to give you enough budget to go in and |
| 1:10.1 | completely update the house. |
| 1:11.9 | Now, I'm not talking move walls. I'm not talking about foundation problems. I'm not talking about |
| 1:16.3 | heavy gut type rehab. 75,000 on a $500,000 house should allow you to do kitchens, |
| 1:22.6 | counters, baths, flooring, paint, all the things that you need to do to really bring up the value of a property. |
| 1:30.4 | And it's very easy to manage a $75,000 rehab. |
| 1:34.2 | That's something that anybody can do. |
| 1:36.2 | It's not overly complicated. |
| 1:37.7 | It's really just a surface cosmetic rehab that's allowing you to completely update the property. |
| 1:43.1 | Now, that's key because in order to get |
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