The Importance of Doing Your Due Diligence

Importance of Doing Your Due Diligence

Host Michael Owen discusses the importance of doing your due diligence when it comes to flipping houses.

  • Verify the ARV (after repair value)
  • Verify the needed repairs
  • Verify the estimated cost of the repairs
  • wholesalers tend to overestimate ARV and underestimate repairs
  • watch out for contractor liens and tax liens
  • watch out for wholesaler contract fees

While this is not an exhaustive list, missing any one of these details can reduce your potential proft.  Or worse yet, it could put you in a loss position on your flip.

For more information on products and services offered by Michael, please visit us online by clicking here.

Continue Reading...

The Power of Go

 The Power of Go

Flip University co-founder Michael Owen discusses the importance of the correct mindset.  Real Estate Investing for many is a big change in their way of life and it is crucial to approach it with the right attitude.  Michael's own answer to the challenges he faced: The Power of Go.  

Making money in real estate isn't that hard.  In fact once you know the steps, it becomes quite simple.  However, so many of us are stuck in routines.  Routines that we dislike, and complain about.  We seldom change those routines, though, because they are comfortable.  We are accustomed to them even if we don't necessarily like them.

Breaking out of a routine is something we rarely do because they are comfortable.  Going out of your comfort zone gives you anxiety and fear.  You need to exercise the Power of Go and do just that - GO!

There are always reasons and excuses not to change.  "I'm too busy right now with work....

Continue Reading...