• Flipping America 619, Slow Flips with Scott Jelinek

  • 2024/02/14
  • 再生時間： 33 分
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Flipping America 619, Slow Flips with Scott Jelinek

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  • In the end it’s all about cash flow. Flipping is a business that requires your time and presence. Landlording comes with its own set of challenges. How about something that provides cash flow from real estate, but is truly mailbox money? Since 2019 I have been buying super inexpensive houses that need a little work and selling them as-is with seller financing. I’m talking about buying for around $10,000 and selling for $40,000. This model was the rationale for forming the Flipping America Buyers Club. By 2022, with no bank foreclosures for 2 years due to the pandemic, inventory was running low and prices were going up, so it was time to re-think the process. Due to the short pay-back schedule on the previous model, the numbers just didn’t work any longer. So I began to look at the alternatives. The idea is fairly simple. If I can buy a house at a substantial discount and sell it with financing for close to a retail price with seller financing, my actual return will be higher than the interest rate I’m charging. For example. Let’s say you buy a house for $30,000. If you were to sell it for $30,000 and charge 9% interest, your return would be…9%. What if you sold it for $50,000? Your return on that $30,000 investment goes up to around 15%. So I tried a few of these and guess what? It works! And there are buyers out there. Then I found a guy who has been doing this for years - he has even written a book on the subject. His name is Scott Jelinek and today we are going to talk about this fantastic way to make income in real estate.
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In the end it’s all about cash flow. Flipping is a business that requires your time and presence. Landlording comes with its own set of challenges. How about something that provides cash flow from real estate, but is truly mailbox money? Since 2019 I have been buying super inexpensive houses that need a little work and selling them as-is with seller financing. I’m talking about buying for around $10,000 and selling for $40,000. This model was the rationale for forming the Flipping America Buyers Club. By 2022, with no bank foreclosures for 2 years due to the pandemic, inventory was running low and prices were going up, so it was time to re-think the process. Due to the short pay-back schedule on the previous model, the numbers just didn’t work any longer. So I began to look at the alternatives. The idea is fairly simple. If I can buy a house at a substantial discount and sell it with financing for close to a retail price with seller financing, my actual return will be higher than the interest rate I’m charging. For example. Let’s say you buy a house for $30,000. If you were to sell it for $30,000 and charge 9% interest, your return would be…9%. What if you sold it for $50,000? Your return on that $30,000 investment goes up to around 15%. So I tried a few of these and guess what? It works! And there are buyers out there. Then I found a guy who has been doing this for years - he has even written a book on the subject. His name is Scott Jelinek and today we are going to talk about this fantastic way to make income in real estate.
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