On this episode, professional appraiser Bruce Glenn sits and talks with Jason about the lessons learned from his successes and failures in his 30 years of real estate investing. Bruce is a wealth of real estate investment knowledge and has started a website called flippinbruce.com to help others become successful house flippers. Plus, he is working on finishing his first real estate investment book. If you're looking to get into the "flippin" business or want to take your existing business to "the next level," this show is full of strategic and tactical wisdom, value, and trade secrets.

Key Takeaways

- Bruce's wholesale "Flippin" Formula: you take 75% of the home's ARV plus the costs to renovate. And that's the offer that you're going to make. 25% is your profit margin.

- Build a good team of real estate agents, lenders, appraisers, contractors, and investors.

- A good real estate agent is invaluable to the real estate investor and "flipper."

- If you can show investors with money that they can make a good return on their investment, you can easily find money.

- A real estate investor needs to think like an appraiser.

- Form a relationship with smaller banks and credit unions; they are more open to working with smaller real estate investors and companies.

- Local real estate investment groups are useful resources for finding new opportunities, lenders, like-minded investors, and reliable contractors.

- Start out building small when you start out in this business.

Resources:

Flippin Bruce Website

Bruce Glenn - YouTube Channel

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Thanks for listening!

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IMPACT Agent is recorded and produced at Deep Fried Studios - Mobile, Alabama.
Producer: Johnny Gwin