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"The term "flipping" is used by real estate investors to describe "residential redevelopment". Redevelopment of distressed or abandoned properties or neighborhoods has sometimes been linked to malicious and unscrupulous acts in the post housing bubble era. The term "flipping" is frequently used both as a descriptive term for schemes involving market manipulation and other illegal conduct and as a derogatory term for legal real estate investing strategies that are perceived by some to be unethical or socially destructive. In the United Kingdom the term is used to describe a technique whereby Members of Parliament were found to be switching their second home between several houses, which had the effect of allowing them to maximize their taxpayer funded allowances." - wikipedia
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I'm in real estate (real estate agent). This guy is the real deal. Also you know he's legit because he's not selling a "class" to teach you how to get rich. What he does is just super hard. He started with wholesaling and now instead of selling the contract he does the flip himself. And it's a numbers game. That's why he has a call center. His numbers probably look like this... make 1,000 calls to pre-foreclosures, get 10-100 appointments, from those appointments get 1-10 deals to close. Thats 0.1% - 1% success rate.
Now here are the numbers for the people watching this youtube video..
1,000 people watch this video. 90% think he's bullshit and never do anything with the info.
So that's 100 people that take some action. Say 100 people actually go and learn about wholesaling. 90% of those people will not actually take ANY action to try it (fear of failure, mindset issues, fear of success, excuses, etc).
So that's 10 people who actually go out and try to wholesale. 90% will give up because, like he says, its a lot of "no" and rejection. (See my number above about how it takes 1000 phone calls to close 1 deal).
So now we have 1 person who actually sticks with it and becomes successful.
And thats the guy we see on this interview.
And those numbers are probably too optimistic, but at least now you why you're poor and he's rich.
No it’s because you don’t know anything to do with real estate. You have to be in the business to understand what’s going on. These people who sell you a piece of property at a discount are called “motivated sellers”. These people are in a situation where they need to get rid of there property or they will suffer the consequences. This is where the investor comes in and gets this property from the seller at a discount since he’s motivated, so now the investor makes his money and the seller makes his money and no longer has to deal with the troubled property.
I'm interested in knowing what this 0 down payment is. It cannot be a normal loan, I think that is what he said "private investors". Has to be some sort of a private lender, even then. FHA is 3.5%, can be 1.5% with FHA advantage. Conventional is 3-5%. USDA can be 0% but there is restrictions and not every property/city can qualify. VA is 0% down but of course you'd have to be a veteran. It's possible that a credit union or a local bank can be offering some program for a normal person but of course that has requirements.
You don't need lot of money to make money on real estate. At least in the US. You can do Wholesaling and make good money, some times high 6 zeroes annually with almost no money. You can do Flipping or BRRRR using Hard Money Loans or You can do Rent To Own arbitrage and the Wrap de deal via seller finance. You can use Syndicate loans or use one of the thousands of US government investments programs. There's lot of way to make good money in RE without using much of our money. Of course, you have to work hard and take risk, but it's very doable. I started doing Wholesaling in 2012. Almost without my own money. It was time consuming, so I started to do Flipping using Hard Money loans and now I do lots of BRRRR deals. I own 17 units at the moment. And I made money on all three strategies.
I find entrepreneurs to be so interesting. To be so intelligent and find a niche where you can thrive, taking a MASSIVE risk that could render you bankrupt easily if you have one slip up. I could never do anything close to that and I'm in awe at those great minds who do.
Your intelligence is pretty low, and also your mindset. I’m into real estate myself and I’m 17. I’ve been doing this since I was 13 years old. Now I’m making 100-200 grand a month at 17 flipping houses and wholesaling. It all started because I met the right person and that changed my life for ever. Nothing this guy is saying is false by any means. Real estate is the most lucrative business in the world and anybody can become wealthy in it at any age just put in the fucking work, no excuses. I know tons and tons of guys who are normal dudes that are fucking MULTI MILLIONAIRES just because of real estate. Open your eyes and expand your horizon on what will make you wealthy and listen to the guy who’s out there doing it big and making big money doing it, instead of using your own judgement against somebody just because your not wealthy as the next guy.
The interviewer looks like he’s trying to spot the fraud , it’s when he’s faceslaps his head after his lie in an attempt to wash his shame away from spilling so much bullshit from his giggling gay mouth !when they met in the airport I’m sure he was just trying to get a blowjob but now he has to do this gay interview ! He’s now probably smoking dope watching this playback waiting for the replies to see what monkey believes this shit how the fuck did I get here
This guy does not make money through real estate or make money at all. I didn't watch the entire video but haven't heard anything about capital gains and a lot of his statements aren't true or done make sense as I and many people I know are into real estate lol.
question: no bank will give you a mortgage without having a steady good permanent income to prove that you can repay the monthly mortgage. How does that work? Somebody had to hold the door open for someone here in order to get a foot in the door.
So basically, he profits off of people who are struggling and have little choice but to sell and take losses......good karma business model right there. No different than a dodgy stock trader selling bunk stock to people who can't afford them under the guise that they will make good returns....didn't they make a movie about a guy like that? Dirty and grubby.
Those of you keyboard gurus who have not get your feet wet in this arena and complaining about some missing part in the story need to go back to a lecture room and have your neurons schooled to get a job. This kind of information for students in the university of hard knocks.
Ok bro so you made your money thats cool, i have a deal with a 4 plex im in the process of buying, needs to be renovated and rented out after, but i dont want to live there i want to travel the country. Is is a good thing to buy this or pass, and just travel. I want to have both just i dont want to be there while im traveling or deal with tenants! What do you suggest?
Why you think must people fail on Real estate?
Well like, especially like, the whole thing on selling like, when you do flipping is like, the way we use to like...
How many "LIKE" can you hear per sentence during this video.
Why are so many people sooo mad at this kid ?? Everyone saying daddy did it for him.. I’m 26 and broke as fuck and would love to be in his position and I’m not sitting here acting like he’s either a criminal or a trust fund baby. I know a couple people that I grew up with that are very successful and they grew up with no money and had tons of creativity and ambition and they made something out of nothing. Quit be stereotypical millennial pussies that whine about everything.
What are you haters on about. How else do you think people who buy and sell make money, its at the time of purchase. Renovating doesnt make profit, its simply done so the house you bought under valuation sell easier. Not rocket science. This isnt ripping people off, if you knew how many fees they are up for quite often buy and sell offers save you money if you are foreclosing etc. The average house price in my city is $800k, you gotta buy for $560k to make a feasible profit. And yes its hard to find these sales, as for every smart person who sees the savings in it you get 1000 more who get emotional about it. So stop hating on the guy. I do wonder why hes rubbing his eyes so often though lol.
Somehow this guy comes off as disingenuous? I make a living independently flipping properties (for real). You can amass a few million pretty quick. Reason most people don't do the same is (1) they don't have the passion/interest to choose good investments and renovate, (2) they don't have the capital to start with (something in the range of 50-100k), (3) even if they have the money, they're afraid of the imagined risk/difficulty. (For even bigger returns, wander outside the country to developing metropolitan areas.)
Reason (1) is really important; if you don't have a legitimate passion - almost an obsession - with looking at condos/houses/storefront properties and imagining the possibilities, you'll make too many mistakes and fall into serious debt pretty quickly.
Each investment made in the cryptocurrency is transferred daily to the escrow account. And if until the end of the initial offer the soft cap will not be assembled, we organize a refund of funds to all investors.
Telegram to Launch Blockchain Platform and Cryptocurrency.
In his Facebook post, Rozenberg leaked what he claims to be the teaser advertorial video for the new platform. Aside from hinting at the upcoming ICO, Rozenberg also mentioned that TON will be able to benefit those who are under oppressive regimes like Iran and Uzbekistan as they would be able to transfer money swiftly and securely through the messaging app.
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The technological part of the future platform does not contain any revelations - instead, the authors intend to use many of the existing developments that are expected to be applied in the near future in projects that are in various stages of readiness.
The basis of the network is the TON Blockchain. This is another version of the most promising to date concept of multidimensional blockchain, consisting of a lot of blockchain - shading, where each validator confirms only transactions related only to this shard. This system supports Turing-complete smart contracts.
Comparison with existing platforms.
The fifth generation. Multi-chain, PoS, smart contracts, BFT shading. TON - 2018.
According to all the same unofficial documents, the closed preselection of the project is already underway and institutional investors who receive tokens at a special fixed price participate in it. Tokens belonging to such investors will not go into circulation in less than a year. The basic ICO is scheduled for March 2018, and it will be conducted in accordance with the recommendations of the SEC, only among accredited investors and in accordance with the SAFT agreement. This scheme has already been applied in the conduct of the regulated ICO Filecoin, and its organizers have been severely criticized by the community.