1 flip to 3 flips to 8 flips to 17 flips and full time Investor

[Jonathan C.]

Did first flip in 2010, then switched areas to focus on a lower income county in the DC Metro area and did 3 flips in 2011.

Stayed in same area, got credit line with local bank, and did 8 flips in 2012. In October of that year was able to quit my job and invest full time.

In 2013 did 17 flips.

Hopefully 20-25 flips in 2014- though market for investor properties is really tight now so we'll see. Should at least clear 20 though.

I haven't been very active on BiggerPockets but plan to change that. Try to help people out where I can. And I still have plenty to learn.

[Jonathan C.]

@John Weidner Usually with my searches in my areas I'm evaluating about 20-35 properties/day, and I make offers on 2-6. I have to offer on (roughly) 40-50 properties to get 1 offer accepted. It takes me about 1-2 minutes to comp each property- usually in total it's an hour or less each day.

Yeah the automation part is absolutely key. Here's my process:

1- run MLS searches

2- copy and paste MLS results in unformatted text format into a spreadsheet

3- sort the results by subdivision

4- run the comps for each one

5- figure an ARV number for each one

6- use my formula of 73% ARV less 55,000 repairs to automatically calculate the offer on each on *I will adjust repair number down to 48,000 for townhouses and up to 60-65k for larger properties or ones that need a lot of work

7- put in offer instructions for each one

-send to assistant-

8- have my virtual assistant (found on odesk) access my spreadsheet through google drive (all my stuff is done through google drive)

9- asst will use a program called 'pdfill' to populate the date, address, and offer price in my offer template (offer template is a completed offer with everything signed and filled out except for those couple of fields I just mentioned) *takes about 30-60 seconds to fill this out

10- asst sends offer in to email address or website listed on the spreadsheet