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Lessons Learned: My Experience with The 'Flip System'
Hello everyone,
I recently read a post and wanted to share my experience with The “Flip System”, as I believe transparency is crucial when considering investments like this.
I come from a blue-collar background as a first responder in Los Angeles, and I was drawn to Flip System due to the promise of having deals vetted and presented to me, as well as receiving education on how to fix and flip, implement the BRRRR strategy, and sell turnkey properties. This approach seemed ideal given my demanding schedule. I paid a substantial $15,000 initiation fee to join this community and was assigned to invest in a Midwest City.
Initially, I was optimistic as I was provided with a General Contractor and Real Estate Agent for my team. However, things quickly took a turn for the worse. The real estate agent I was assigned passed me off to someone else without explanation, and the general contractor stopped communicating with me once I had my first deal under contract. I had to rely on my new real estate agent to find another contractor, adding unnecessary stress to the process.
The deal I was presented with had an ARV of $120,000, but after the rehab, the appraisal came in at only $92,000, leaving me short by $28,000. Furthermore, I later discovered that the property was located in a C- neighborhood, which was not disclosed upfront. Currently, I'm struggling with an eviction on this property and have not made any profit. To add insult to injury, I was charged an additional $1,000 for Flip System providing me this problematic deal.
My disappointment continued with the lack of educational value provided by Flip System. Despite paying a substantial fee, I found that beyond basic instructional videos and repetitive weekly calls, there was little substance to aid my learning. Learning by doing and teaching is my philosophy, and unfortunately, this system did not facilitate that process.
I truly wanted this endeavor to succeed and even expressed my gratitude by sending Fire Station shirts to the Flip System crew. However, my experience has been disappointing, and I deeply regret investing $15,000 that I could now desperately use.
Based on my firsthand experience, I would caution against expecting Flip System to deliver on its promises of support, education, and profitable deals. If you have any further questions or would like more details about my experience, please feel free to reach out.
Thank you for reading, and I hope my story helps others make informed decisions.
Best regards,
Matt
I have had great success with Flipsystem. If anyone is thinking of joining message me and I can go over everything.
They helped me start and get to where I am today.
I see a lot of people complaining about how bad it is. Sure, there are going to be people who fail but if you truly try and make your best effort and do your own due diligence by evaluating these properties, inspection, ARV, etc. and really learning the strategy of both BRRR and turnkey fix and flip, it will work.
You need to build a strong and trustworthy team on the ground.
People nowadays quit the second something gets hard. Joining Flipsystem does not guarantee you will be a successful real estate investor if you just think they are going to hand you everything and you do little work. YOU NEED TO PUT IN WORK!
You will need to be spending 2-3 hours per day on the business in the beginning.
Real Estate is not easy and if it was, everyone would be a successful investor and you wouldn't want it. The fact that it is hard is why you want it, that means it's valuable. If you are able to succeed at this, you could make a lot of money in 10-12 after holding these properties.
The formula is simple. Learn the basics of financials in RE, build a strong team on the ground, understand the ins and outs of RE and what market your in, understand how to actually flip the home and what strategy you are doing (Highly recommend the BRRR) as holding homes is where the money is made.
REAL ESTATE IS NOT EASY!!! But is WORTH it if you can do the correct things and really learn how this works.
Flipsystem hasn't been helpful to me either. After spending $15K on the subscription, they put me in touch with an inexperienced real estate agent who in turn hired an inexperienced contractor for my fix and flip. The flip effort went $20K over the budget. Flipsystem support completely failed to assess the ARV and guide me through the project.
I am not sitting with my fingers crossed on what to do with the property. It's been for sale for 6 months with no buyers.
Flipsystem sells you their service claiming it's a hands-off fix and flip service with boots on the ground team guaranteed. It's completely false.
#3 All Forums Contributor
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- Lake Oswego OR Summerlin, NV
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#3 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Nick Lepinski:
I have had great success with Flipsystem. If anyone is thinking of joining message me and I can go over everything.
They helped me start and get to where I am today.
I see a lot of people complaining about how bad it is. Sure, there are going to be people who fail but if you truly try and make your best effort and do your own due diligence by evaluating these properties, inspection, ARV, etc. and really learning the strategy of both BRRR and turnkey fix and flip, it will work.
You need to build a strong and trustworthy team on the ground.
People nowadays quit the second something gets hard. Joining Flipsystem does not guarantee you will be a successful real estate investor if you just think they are going to hand you everything and you do little work. YOU NEED TO PUT IN WORK!
You will need to be spending 2-3 hours per day on the business in the beginning.
Real Estate is not easy and if it was, everyone would be a successful investor and you wouldn't want it. The fact that it is hard is why you want it, that means it's valuable. If you are able to succeed at this, you could make a lot of money in 10-12 after holding these properties.
The formula is simple. Learn the basics of financials in RE, build a strong team on the ground, understand the ins and outs of RE and what market your in, understand how to actually flip the home and what strategy you are doing (Highly recommend the BRRR) as holding homes is where the money is made.
REAL ESTATE IS NOT EASY!!! But is WORTH it if you can do the correct things and really learn how this works.
since you basically have to do everything yourself why would any one pay 15k for a few referraals to realtors and contractors you can get that here on BP.. Just contact any of the Columbus Agents they are the flip system you dont have to pay up front for .. REAFCO agents do this from what i see. .
Clearly this forum is being spammed with fake positive reviews.
5 posts posted within minutes by first time posters.
Hopefully @Moderators mark this stuff as SPAM.
Quote from @David Robertson:
Clearly this forum is being spammed with fake positive reviews.
5 posts posted within minutes by first time posters.
Hopefully @Moderators mark this stuff as SPAM.
Handled, thank you!
Quote from @David Robertson:
Clearly this forum is being spammed with fake positive reviews.
5 posts posted within minutes by first time posters.
Hopefully @Moderators mark this stuff as SPAM.
Yeah, this is wildly suspicious. Whatever spidey sense I have for guru scams is going into overdrive
FlipSystem is a game-changer! It’s not just about finding deals; the platform helps you analyze them and connects you with experienced local teams. It’s been a huge help in speeding up my flips.
Quote from @Account Closed:
FlipSystem is a game-changer! It’s not just about finding deals; the platform helps you analyze them and connects you with experienced local teams. It’s been a huge help in speeding up my flips.
Two questions, looking at the attached pics: Is this a joke? If it is, to whom? I only have one suspect.
What was that great word from Hitch? You guessed it: Disgusting.
#3 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
- 61,544
- Votes |
- 41,773
- Posts
#3 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
Quote from @Matthew Estrada:
Hello everyone,
I recently read a post and wanted to share my experience with The “Flip System”, as I believe transparency is crucial when considering investments like this.
I come from a blue-collar background as a first responder in Los Angeles, and I was drawn to Flip System due to the promise of having deals vetted and presented to me, as well as receiving education on how to fix and flip, implement the BRRRR strategy, and sell turnkey properties. This approach seemed ideal given my demanding schedule. I paid a substantial $15,000 initiation fee to join this community and was assigned to invest in a Midwest City.
Initially, I was optimistic as I was provided with a General Contractor and Real Estate Agent for my team. However, things quickly took a turn for the worse. The real estate agent I was assigned passed me off to someone else without explanation, and the general contractor stopped communicating with me once I had my first deal under contract. I had to rely on my new real estate agent to find another contractor, adding unnecessary stress to the process.
The deal I was presented with had an ARV of $120,000, but after the rehab, the appraisal came in at only $92,000, leaving me short by $28,000. Furthermore, I later discovered that the property was located in a C- neighborhood, which was not disclosed upfront. Currently, I'm struggling with an eviction on this property and have not made any profit. To add insult to injury, I was charged an additional $1,000 for Flip System providing me this problematic deal.
My disappointment continued with the lack of educational value provided by Flip System. Despite paying a substantial fee, I found that beyond basic instructional videos and repetitive weekly calls, there was little substance to aid my learning. Learning by doing and teaching is my philosophy, and unfortunately, this system did not facilitate that process.
I truly wanted this endeavor to succeed and even expressed my gratitude by sending Fire Station shirts to the Flip System crew. However, my experience has been disappointing, and I deeply regret investing $15,000 that I could now desperately use.
Based on my firsthand experience, I would caution against expecting Flip System to deliver on its promises of support, education, and profitable deals. If you have any further questions or would like more details about my experience, please feel free to reach out.
Thank you for reading, and I hope my story helps others make informed decisions.
Best regards,
Matt
U should see the 1 post schills posting now.. what a joke.
Account closed, 1 post, 1 post... you would think these spam bots would make a few random posts, maybe a "welcome to BiggerPockets" for some new member introductions and like a couple of each other's posts before spamming a thread started by someone disappointed in the system. Low energy spamming tbh
