Episode Details

Jason and Katherine Grote

Today we are visited by Jason and Kathrine Grote who are two house flippers out of Austin, Texas.  They are doing some amazing things with Bank financing and balancing their work and family life.

Have any questions for Jason, Katherine or myself? 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?

Flip Tip

A question came in from David and Kelly Kent about making offers on the MLS and structuring relationships with agents.  If you're making offers on the MLS you have a lot of competition.  Either you need to be okay with lower margins or medium-low margins and making a LOT of offers.  Full-time MLS offers are time consuming.  After one of my assistants made offers full time for 2 months we only ended up with 3 deals.  It was worth it, but very difficult.  You have to get serious with some direct marketing if the MLS isn't working to get deals.

Show Notes

In this episode we cover:

• Jason and Katherine's journey from Taxi Cabs and Dance Studios to real estate investing
• The importance of utilizing resources like House Flipping HQ and doing your research to know what you need to do
• The challenges of investor clubs in Texas and things to be aware of
• Their current business model consisting of retail, wholetail, and wholesale deals.
  • Retail: Standard MLS listing and flipping
  • Wholetail: Purchasing potential flip properties and selling it to wholesalers on the open market with less fixing up
  • Wholesale: Bringing deals to investors
• Their current methods for acquiring properties using mainly online marketing through their website and how to approach online marketing for acquiring deals
• The importance of understanding what people are going through and how it helps you get referrals.
• Why high-pressure sales are not a good tactic when dealing with real estate
• How Jason and Katherine communicate and deal with sellers
• How people can get started “driving for dollars”
• Their approach to dealing with out-of-state landlords
• The methods the Grote's use to analyze deals and determine the best course of action
  • The flip bucket: a property that works well as a flip or wholesale deal
  • T