Episode Details

Tim Gordon, a “sophomore” investor has taken incredible action and shares with us how he got his first deal and the struggles he had.  We talk about benchmarks, success and closing deals.  Plus we get in to some details about financing and rehabbing and much more!

Have any questions for Tim or I? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

The next webinar is tonight!

Tonight (March 6, 2014) we will have another House Flipping Webinar at 6PM (Pacific)/9PM (Eastern). Click on this link below to sign up!

This time I'll be focusing heavily on acquisitions!

houseflippinghq.com/webinar.

And the winner is ….

The winner of the Michael Quarles 1,000 yellow letters give-away is Ed!  Just e-mail Michael at michael@yellowletters.com to let him know you were the one who won (we have your email on file, so this is how we confirm your identity).

For the rest of you who entered, you can also email michael@yellowletters.com with the subject line “HFHQ Biz Cards” with your complete name and mailing address and he'll get you the business cards that he mentioned in the podcast episode.  We'll be checking your name against the entries so be sure you actually entered the contest if you send an email!

Show Notes

In this episode we cover:

• Tim's introduction to the potential of real estate investing
• His first experiences with a real estate investment clubs and learning to flip through a 60-day challenge “boot-camp”
  • The specific things Tim did to take action during his 60-day intensive challenge
    • Learn how to comp properties and connect with agents
    • Required you to make over 50 phone calls a week (FSBO, Craigslist, etc.)
    • Trains you to handle rejection
    • Use of Proof of Funds to make offers
    • Required you to make at least 10 offers per week
    • Forces you to make more offers than a normal professional investor makes in a typical year
  • The find whatever you are the most uncomfortable and make sure you learn how to do it.
• Different methods he used to connect with sellers and deals
  • More traditional methods like using the MLS or talking to agents
  • Less traditional methods like going on Craigslist or finding FSBO signs
• Tim's experience with the Flip to Freedom event for wholesalers
• How Tim found his first deal by looking at rental ads on Craigslist
  • Tim's use of $1,250 from his first deal on mailers during Thanksgiving
  • The story of Tim's second deal which forced him to listen and solve problems
• How Tim developed his business during 2013
  • Use of Zoho as a CRM (Customer Relationship Management) system
• Tim's current marketing strategies
  • In the beginning of 2013 Tim was using strictly direct mail
  • Later 40%