All Forum Posts by: Mark Ferguson

I remember a couple of years ago I had 10 flips at one time. It took a ton of money and stressed me out big time. After I sold a couple of them I decided to never have that many flips again, but to instead focus on buying more rentals. Well, the market in Colorado is so crazy that I do not want to buy single family rentals here (I am looking at other markets). The median price in Greeley has gone from $110,000 to over $260,000 in four years. 

It has been over a year since I bought my last rental and I have sold two this summer as well. I am down to 14, and still have my goal to buy 100, but I am not going to force myself to buy bad deals.

Since I have not spent as much time on the rentals and I have my real estate sales team set up to run by itself, I have been focusing my time on flips and my blog. I had a really bad experience with a project manager I hired last year, but I did not let that deter me. I put one of the members of my team in charge of project management for my flips this year and things have been going awesome. 

1. I have 13 flips going right now, which is the most I have ever had. I have had 12 at once a couple times this year. I have four flips on the market, including one at $879,000 (most my flips are less than $250,000). Two flips are set to close in the next two weeks. I have three flips coming on the market in the next three weeks. 
2. I have sold 11 flips so far this year.
3. I have bought 14 flips so far this year. I have one more under contract to buy.
4. Almost all my deals come from the MLS.
5. I am going to average over $30,000 in profit on each one after financing costs and staff costs, even though I lost money on one deal. 

It has been a great year for flips and now that my team and contractors are working well together I can focus more on other aspects of my business. I plan to buy more rentals soon either in a new market, or in a different real estate space. If things keep going this well, I should be able to add another Bull (Lambo) to my collection. 

I think one thing you have to consider is what exactly does failure mean? 

Does failure mean losing money on a deal?

Does failure mean never buying an investment?

Does failure mean quitting after a few years? 

I think failure means different things to many people. I don't think losing money on a deal means you failed, unless you learned nothing from the experience and gave up. 

When others talk about failure, I think much of what they are talking about is most people who want to invest in real estate never do. They want to buy houses, but give up. They didn't lose any money, they just failed to invest. 

Personally I think the OP has an awesome attitude and if you mix that attitude with the proper education and determination you will succeed. Even if your first investment does not work as planned, does that mean you failed? No way. Many of the most successful flippers in the business lose money on deals, that doesn't meant they are failures. 

There are a lot of advertisements for flipping. They all make it sound so easy, but is it really that easy to start? https://investfourmore.com/2016/09/19/how-easy-is-...

A lot of investors seem to think you cannot get a great deal when the market is hot. However, I have bought 13 flips already in 2016 and I am in Colorado one of the hottest markets! https://investfourmore.com/2016/09/12/can-you-stil...

The details on a flip I am working on. How and why I bought a $800k property to flip!

https://investfourmore.com/2016/08/04/podcast-60-t...

https://investfourmore.com/2016/08/29/how-i-made-3...

 I sold two of my rentals and stopped buying in colorado. Prices are too high to cash flow well. Flipping is going awesome. I have sold 11 so far this year and bought 12. I have two under contract to buy and three under contract to sell. 11 total flips in my inventory now and 4 more should be ready to put on the market in the next 1 to 3 weeks including the flip I bought for 500k. 

I wrote this arti le to discuss the biggest mistakes I have made and others as well. https://investfourmore.com/2016/08/22/what-are-the...

I bought my first property from a wholesaler in March and sold it last week. Bought it for $124,000 and sold it for $210,000. Here is the full story and videos: https://investfourmore.com/2016/08/12/case-study-o...

thanks for the mention Bill and Chris!

I have not bought in Florida yet, but plan too. I personally feel south florida is too pricy for me.