All Forum Posts by: Rahman Sobhan

Hello I see people are quoting $15k. I was told today $20k on the phone.. can I ask how much people were quoted recently as an entry fee?

Hey, Yes, too much time passed and the deals went pending. Everything is not done for you, no, you have two options on the pipeline, acquisitions will send you deals or you can find your own and analyze. The deals are put in the CRM with PP/Rehab est/Rent/Tax/ins basic info and there are some auto calcs for other holding costs (you enter timeframe) and financing costs (based on if you are doing HML/PML or cash).

YOU verify the info based on education/training.  YOU also enter financing for the deal and financing for the sale (to investor).  YOU also manage rehab draws and getting all docs needed for all processes.  You definitely have help all along the way but no it is not done for you, best way to learn!

@Jay Hinrichs That was me! I'd been meaning to reply.  Watched your BP podcast from years back, great information.  I do agree with your comments market is tough!  I wish I had some direct data to chime in with on the flipping portion. I will ask those in the group that have done a few to make a post of their experience as well! And yes, so far with entry and crm monthly and the two inspections, $17k 3mos time, I was able to get earnest back.. 

@Max Schulman

Hey Max thank you so much for staying active in this post. You are literally the only one on here who can give any real review of the product as you are using it. Like you I see the great value this provides. I had my call yesterday and going to have another one tomorrow and most likely going to join. Being able to have no extra legs of the business that I don't have the time to build in a market I can't be present in, is nearly priceless since I have a full time job that I don't want to leave. You can even bring your own deals and use their team. Plus they bring you deals. The profit margins may be smaller on their deals but the biggest reason new investors fizzle out early is because they can't keep their pipeline full and contractors active. This has been my major problem. I think 15k one time up front fee and giving full access to his team to complete everything for you with your management is honestly a cheap price. 

I have a couple questions for you. I'm sure your first deal isn't complete yet. But I am wondering if it's still going well? Also, is it really everything its advertised on the call and in the marketing videos? Like it seems too good to be true. Yes margins are smaller but if its that easy to get in and out of deals and I never have to make a rehab checklist or manage another rehab on a daily or weekly basis then I'm happy. Lastly, after using the system for a little bit is this really scalable? Can you really do as many flips in a month as your capital allows you to? Or is there a limit based on the amount of deals coming in? Is everyone fighting over the same deals or is there enough to go around for all member? 

Seriously last question, being a full time employee not going to quit, like yourself I believe, would you recommend me to jump into this full force? Or should I consider saving my money and trying to build it myself?
 

 Hey Jimmy!  Did you end up join Flipsystem?

Yes, that is exactly the case!  but that is actually the point as well.. if you follow the Martels you will see they have flippped/sold turnkey hundreds if not, thousands of homes.  The roadblock for them was how to 10x scale such a flipping/turnkey biz?  

It's not really desirable to flip 100s of homes per month so, they decided to offer up the education and connections they have made over the years of doing this business to those who don't have the time to source/vet.

For sure, one can do this their selves but the main reason investors would go with Flipsystem is time in my opinion.  And the fact that the system can handle higher volume per month if that is the goal for your RE plan!

My husband and I will going through the wealth and tax strategy with provision. We are excited and believe it will be a worthy investment. I will keep you posted and submit a review to help others that maybe wondering about this company.

After going though several calls with the ProVision representative (Brad) last year, I felt the price was unrealistic just to develop the tax strategy (I believe ~$10,000). Then they charge an additional several thousand dollars do the tax preparation. I wasn't confident that they could save us that amount on our taxes. We used a local CPA last year, but were still searching for an accountant who specializes in real estate. Recently, I watched BP podcast 196 with Brandon Hall, CPA. We decided to retain his services and had our first tax strategy meeting today. He is very knowledgeable and spent over an hour answering all of our questions today, so I am optimistic this will be a good fit.