9 random enlightenments to make $30,000 on every FLIP!

[Calvin Beeke]

So, here is the scoop. Want to make $30k on every flip? Here is how. To clarify, I haven’t made $30k on every flip, but my percentage is growing on the flips that do make $30k. Also, making $50k on a flip is possible, so to achieve an average of $30k per flip is attainable. To preface, this isn’t the numbers side, assessment of a deal, or a rehab strategy. This is simply a summary of 9 random enlightenments that I have come to know and would like you all to know!

• Buy right.  You already know this...and easier said than done right? In crazy markets like this there are no deals you might say. Wrong. Deals are all over the place. If flipping is more than a once a year hobby to you, try this tactic. Every person you have a relationship with should know that you buy houses. (If using OPM and private investment channels, indicate the attractive “CASH OFFER” phrase) It doesn’t hardly sound like a tactic, but I seem to land 1 deal a month from a contractor, neighbor, friend, family member, or a general acquaintance. I have nothing against specific marketing campaigns, but sometimes your best marketing, is how you help others and handle every relationship.
• Commit first, ask questions later. My neighbor told me once that he was moving in less than a year to his retirement dream home in Canadian lakes, MI. He said he wanted $120k for the place. I told him I would do it, without ever seeing the inside. Six months later, who do you think he called first? After some potential basement issues, we landed at $112k. He was so appreciative of the cash offer and my willingness to clean up trash and an old boat he wanted to leave. 
• An American Flag. This $14.99 improvement on the front porch goes a long way. First Impressions. It matters. We all love the stars and stripes, and it represents a country that allows a free market to determine the value of real estate. Why not proudly display at every job site and leave it for the new owners. It completes the look!
• Raise funds in desperation, but not procrastination. I work best under pressure. I certainly have my routes and my last resorts in funding flips. More often than not, once I have a deal with a close date of ample time, I can raise the funds out of necessity with a specific plan and figure in mind. My weakness was procrastination. That takes desperate to a new level and that isn’t healthy.
• Buy the oddball. In slow markets, buy the perfect square typical homes. In good markets, settle for less if it’s a quick turn. I have now purchased about 5 or 6 homes that one would consider oddballs. Now, these were all GREAT deals. That part doesn’t change. Don’t overlook the 1 bedroom 592 square foot tiny home. If you can buy it for $27k from a seller who wants out quickly, do a 1 day clean, paint touch up, and turn it for $57k, why not? By the way, this particular scenario was an ad on facebook. 
• You don’t need to fix up the place. On three occasions in the last year I have bought tenant occupied homes from an investor who had his sights set on bigger things. This investor had not gotten a grasp on how much the market had skyrocketed in the blocks surrounding a college. He had paid around $60k for the home a few years ago. I bought it for $80k, made zero improvements, listed for $100k and after many over asking offers, put it under contract for $125k. After appraisals fell short, I eventually sold the property for $121,500. It turns out, I didn’t even know how high the market was and I thought I was watching it like a hawk! One of these three scenarios was listed on Facebook actually. 
• Sell your rentals. I will be the first to admit that there are some rental properties that were a mistake to buy, UNLESS, I let them go. In a good market, it’s time to offload those. How do you pick which one(s)? Here’s how. We made $28k on a duplex in a less than desirable area that we owned for two years. After two years of analysis, moderate cash flow, cockroaches, and an area that wasn’t getting any better any time soon, we offloaded it. We didn’t offload a property a few blocks over that we had dumped new windows, porch, carpet, kitchens into. With good tenants, cash flow, structure, and layout we choose to keep that one.
• Sell your home every two years. If your wife/husband/kids can be roped into joining you on this exciting adventure, this is an opportunity to land an additional UNTAXED $30,000 of income every two years. You won’t always catch a dramatic market rise if you consistently do this, however, when you do, you can turn that ‘3’ into a ‘6’ or more! The number of zeros matters most, but that number in front is cool too! 
• Let’s change the game. Simple question. How many houses do you need to flip to make $30,000 per month? 1. Wrong. 3. Correct. One in the buy phase. One in the Rehab face. One in the listed/pending face. The ability for any REI to coordinate a steady supply but not an overabundance is certainly a juggling feat. Some may desire to scale and do so much more than this, and that is great. When my main goal, however, is on buy and holds, flipping as a substantial time commitment but on a small scale is one of the greatest business opportunities out there for anyone.
  
  Best of luck in the flipping world! Tell me your story, flipping strategy, and profit goals! I look forward to learning more!