pivoting a little .... and searching that next market.. and very strong into debt instruments.

Our goal is to do flips 100% of the time but being self funded we can't pivot to a new job without the most recent one selling, so in between jobs we continue GC work for clients.

If things get testy, I consider myself  to be in the manager (or parent) role: "them's the rules, you agreed to follow them, here's what happens next." 

The previous years are there for comparison.Number of liens sold to investors:2018 - 1,739 (1,376 bought by investors - 363 Struck to County as no bidders)2017 - 2,141 (1,902 bought by investors - 239 Struck to County as no bidders)2016 - 1,880 (1,600 bought by investors - 280 Struck to County as no bidders)2015 - 2,039 (1,808 bought by investors - because 231 struck to county as no bidders)2014 - 2,5752013 - 2,382Total dollar of liens sold:2018 - $1,776,766.27 ($1,594,714.45 bought by investors and $182,051.82 not sold) 2017 - $2,175,069.34 ($1,890,259.85 bought by investors and $284,809.49 not sold)2016 - $1,874,010.88 ( $1,694,277.89 bought by investors and $179,732.99 not sold)2015 - $2,678,533.35 ($2,336,551.03 bought by investors - $341,982.32 not sold)2014 - $3,015,871.872013 - $3,435,014.32Average rate of return overall:2018 – 6.53% (5.45% by investors when subtracting out struck to county liens which all get 16%)2017 – 7.26% (5.94% by investors when subtracting out struck to county liens which all get 16%)2016 - 6.28% (5.25% by investors when subtracting out struck to county liens which all get 16%)2015 - 6.75% (5.40% by investors when subtracting out struck to county liens which all get 16%)2014 - 5.86%2013 - 6.55%Number of Investors who won liens:2018 - 872017 - 972016 - 742015 - 892014 - 1162013 - 201Total Number of bids for all liens:2018 - 11,8982017 – 10,5502016 - 8,8232015 - 10,5252014 - 18,8122013 - 99,073,789You bid down the interest rate in 1% increments from 16% down to 0%.Percentage with the most number of bids overall:2018 – 5% had 1,783 bids2017 – 5% had 1,315 bids2016 - 4% had 2,680 bids2015 - 6% had 2,391 bids2014 - 7% had 3,542 bids2013 - 4% had 36,251,623 bidsMost bids per lien/parcel:2018 – 1 lien had 28 bids2017 – 3 liens had 23 bids2016 - 3 liens had 20 bids2015 - 7 liens had 24 bids2014 - One lien had 41 bids2013 - One lien had 470,295 bidsCreated a Pivot table where I grouped the liens by "Property Use Description".

I've heard about Goldman Sachs and other large institutions buying thousands of loans and holding on to them (punishment for the its role in packaging and selling toxic mortgage-backed securities in the housing meltdown).

I view it is as a customer service role, whereas I get the feeling many landlords view rentals similar to serfdom, to some extent.

Talk about the different roles ("hats") you both will be wearing.

My investor originally said he had cash to fund a deal, but since this is my first flip he pivoted to wanting to use a conventional loan to minimize risk [and turn it into a rental if it all goes sideways] with the idea that we would just do a smaller home that needed a cosmetic work and/or kitchen/bathroom upgrades, etc., and feel things out before we turn around and do it again if all goes well. 

If you want to be analyzing that many deals (even when narrowed down to 10 MSAs you'll be looking at a lot of deals), I would stress that broker relationships will play a major role in your success level, in terms of finding good deals.

Each Level is assigned a role within the system, which is how/why they feed into the next Level.4 - An understanding that a Perfect System is both Self-sustaining, and repeatable.5 - Understanding the difference between, "cost and expense".6 - Understanding the only important rule of Poker, and how it applies to REI.7 - Understanding the enormous importance of this number sequence.