Private Hard Money Lender in California, Texas and Arizona: The Big Show is Coming to Town.

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The Big Show is Coming to Town.

Don’t do it…it’s a big mistake flipping homes can cost you a lot of money . Every week the house flipping circus comes to town and adve...

Monday, May 23, 2016

The Big Show is Coming to Town.

Don’t do it…it’s a big mistake flipping homes can cost you a lot of money.

Every week the house flipping circus comes to town and advertises on the radio about how to make money flipping homes.  They offer their free 90 minute seminar conveniently located in the valley.  

“Learn from the expert” and they promise that they can tell you “how to make money flipping homes”.  Have you heard them?  The latest one is from Than Merrel, correct that his name, and he been on the radio all week.

I’ve been to many of the seminars, though the past few years, but they all have one thing in common. They want to hook you in and give you extensive training, and you can become a master mind expert.    The last time I check the total cost for becoming a Master Mind is around $45,000. 

I know they are in town because I start getting calls for Hard Money Loans.  They been told that we will give the a loan at 8% for 100% financing, and I know that you being a real estate pro that this not possible. 

What I usually do is politely tell them that this is not possible and start to chat with them about their training  from the Master Minds and then during the conversation they ask we what they should do about making money in flipping homes.  Then I tell them the truth which is, before you get into flipping homes get your Arizona Real Estate License.  You are going to need it to flip homes, access to ARMLS, ability to find and flip your own deals is important.  Sitting though real estate school for those 60-80 hours and you will learn more about real estate then those Master Minds can teach you.

I recently had a young millennial to my office and wanted to talk to me about flipping homes.  This first thing I told him was whatever you do, don’t pay for those $45,000 training classes, then he turned really read and started to sweat. I realized I made a mistake and said please tell me you did not do this?  He said he did, and then we started working on how he can get his money back, which he did.  He eventually went to Westford Schools met Skip (did you train with Skip) for training and got his license.

So my advise is if you want to be a successful flipper, first get your real estate license.  (You probably knew this already.)

Dennis Dahlberg
Broker/RI/CEO/MLOLevel 4 Funding LLC Tel:  (623) 582-4444 | Fax: (888) 279-6917www.Level4Funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378 26601 N 19th Ave Suite 112  Phoenix AZ 85027