150 Flips in 2014!

[Justin Williams]

So I thought it would be cool to document my goal of buying 150 flip houses this and documenting my progress here for the BP community.

My reason for doing this is to help educate and encourage others, keep myself accountable, get additional ideas and feedback, as well as create additional business relationships that will help me achieve this goal and continue to grow my business, and help everyone in the process. ABUNDANCE at it's best!

I will start out in this post by giving a summary of where I am up to this point, and will give weekly updates on our progress, as we continue to push towards this goal, and I will be happy to answer questions anyone might have along the way.

Rules of Engagement!

1) Purchases are counted when we put them under contract.

2) Anything that falls through is taken away from the overall total.

3) So essentially the goal is to get 150 houses under contract (not including anything that falls through) in 2014

Where We Currently Stand

As of right now on April 9, 2014 in the morning we are at 27 houses. I specify morning because we are VERY close on a package of 4 that I am hoping we can tie up later today. Fingers crossed!

Here is the breakdown of each month so far on when we put those houses under contract, and how we acquired them.

I refer to my "Main Agent" who is just that, he is the agent we have bought most of our houses with in the past 3 years. Agent # 2 is another agent we work with and have purchased some houses with. Then I refer once to listing agent which just means she had the listing and we worked with her in buying the house. Then in regards to wholesalers I just go in order of when we purchased properties and referred to them as #1, #2 etc. Just for the record # order doesn't refer to my favorite wholesaler or those who we are necessarily buying the most from etc. :-)

January-6 total

14th Main Agent

15th Agent # 2

20th Wholesaler # 1

21st Wholesaler # 2

25th Main Agent

30th Main Agent

As you can see in January we had kind of a late start. I was not super excited about the fact that I set a goal to buy 3 houses a week and had 0 for the first 2 weeks! However we got back on track at the end of the month, and were close to reaching our weekly goals.

February-8 total

4th Wholesaler #2

4th Wholesaler #1

4th Wholesaler #1

4th Wholesaler #3

12th Wholesaler #4

26th Listing Agent

26th Wholesaler #1

26th Wholesaler #5

In February we started out strong. I don't think we actually put all 4 of those houses under contract all on the 4th but that is what Vanessa (my assistant) has on the spreadsheet so I'm sure they were around that time and that is when she documented them.

I felt like we were picking up momentum and were getting back on track, and had a good chance of getting caught up and reaching our 150 goal for the year, but then I had a 2 week buying drought, which got me incredibly frustrated!!! After some serious outside the box thinking, implementing new strategies and really rolling up our sleeves we ended the drought and bought 3 houses in one single day, which happened to be the same day I went to Disneyland with my family.

I don't have time to go into all the details here but I wrote a blogged about my frustrations and the details of overcoming them and then buying 3 houses in one day on my site if you want to read the details.

Also worth mentioning in February we bought a lot from wholesalers but my main agent who is one of our primary buying sources and had a goal of 5 for the month struck out! We also fell short on our large Direct Mail campaign we recently launched so once again we were behind on our goal but considering what didn't go the way we planned there was still hope for the goal of 150 if we could get back on track and get everything to come together.

March-7 Total

4th Main Agent

11th Wholesaler #1

13th Wholesaler #6

13th Wholesaler #6

19th Wholesaler #2

20th Main Agent

26th Wholesaler #7 (referred by #6)

I won't go into too much detail in March, but as you can see we fell short once again, with our main agent only getting 2 and our DM campaign just not being quite what we have planned for.

April-6 so far as of this morning April 10th

1st Wholesaler #1

2nd Wholesaler #1

2nd Main Agent

7th Wholesaler #8

7th Main Agent

7th Wholesaler #1

So far in April we are off to a great start with 5 houses under contract in only 10 days and hopefully we end up landing that package of 4 which would really help us begin to catch up and continue to gain some momentum!

Totals

So in total so far out of 3 months and 10 days, (or 14 weeks or 98 days) we have put a total of 27 houses under contract. Which means our average is about 2 a week which would put us on track for 100 for the year. So we are essentially behind by about 15 houses! YIKES! My main goal for now is to try to get to where we are averaging 3 a week and continue to implement new strategies, and build relationships to help us maintain that momentum and help us get caught up.

Summary

As you can see most of the houses we have purchased so far this year have been from relationships we have developed with agents and wholesalers which is actually pretty different from years past, but that is where we are at right now with our home acquisitions. I don't have time to go into more details on each deal or where an how our agents or wholesalers got these deals, but I will try to cover some more details on future posts as well as cover how we finance our deals, manage projects, systematize our business etc.

I know we are behind, and I don't know that we will reach our goal of 150, but we are not giving up! So far April is off to a great start, and we are continuing to build more relationships and implement more strategies to help us reach our goal for the year. At the end of the day as long as I can look back and feel like we did everything we could then I guess I can live with that, but right now I think we still have a decent shot.

I have to admit that it is pretty hard to put myself out there like this. No doubt there will be days/weeks or even months when I fall flat on my face, but having this accountability and support will help keep me going and hopefully everyone else can learn from my failures and successes along the way.

I know there are probably a lot of questions and a lot I didn't cover, but I think this post is already long enough so feel free to ask any questions you have and I will do my best to answer them in this thread.

I'm not sure what the exact outcome will be but I'm looking forward to sharing my journey and experiences with you along the way!

150 houses or BUST!!!