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Real Estate Disruptors

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The Importance of Flexibility

October 26, 2020 By Larry Leave a Comment

October 23, 2020

The real estate market is currently a seller’s market. Inventory is low, and investors keep bumping into each other trying to get into the door of properties.

What if you could offer a seller more money than other investors, but make a larger profit on a wholesale transaction?

“Not possible,” you say. 

Except that it is, if you structure the transaction a little differently. And best of all, it’s legal and may be an even better option to help out the seller than a straight wholesale deal.

The problem many wholesalers run into these days is that sellers want a certain amount out of their property, but you know you can’t offer them that and have any hope at making a profit. So you leave, hoping they will call you later, or you may have never called them in the first place due to the situation.

What if you could offer them more money, or more time in the property, or other concessions they need and still get the property under contract?

It can be done using a Novation agreement. Essentially, a Novation allows you to control the property, market it for sale, and receive the profits upon sale without taking title. Think about the savings you gain simply by avoiding that first set of closing costs.

In a typical wholesale transaction, you buy the property (A to B), and all closing costs, commissions, taxes, title, etc. are paid. Then you sell the property to another buyer (B to C), again paying closing costs, commissions, taxes, title, etc. A Novation removes the first closing, changing the transaction to A to C, with you in control of the property. 

But how does this get around laws against excessive commissions, etc.? Because under a Novation, you take on all responsibilities of the seller:  You make any necessary repairs, you pay the mortgage, are liable for all the disclosures, etc. By assuming the responsibilities of the seller, you stand in the place of the seller, just without an expensive closing taking place.

So knowing you could save $5,000, $10,000 or more in closing costs, you can increase your offer to the seller above what other investors can offer. Not only that, you can sell the property on the MLS or privately instead of at a discount to a flipper or another wholesaler. So you can maximize the profits on the back end with a smaller front end investment.

We call this the Brewer Method, named for Eric Brewer, who has used this technique in hundreds of real estate transactions successfully. And we’re teaching it to you, complete with all the forms, sales techniques, and monthly training you could ask for. Visit www.BrewerMethod.com to sign up and take your business to a new level of advantages and productivity.

Filed Under: Blog, Training Tagged With: big profits, Brewer Method, convert leads, eric brewer, leads to profits, massive profits, novation, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang

$800,000 Profit on One Deal? Yes Sir.

October 16, 2020 By Larry Leave a Comment

October 16, 2020
Tucker Merrihew just made $800,000 in one flip.

Do I have your attention yet?

No, this isn’t some HGTV show where the flippers are about to lose their shirt yet somehow a bidding war breaks out and suddenly they make $800,000.

This is real life, and it’s a real business making deals like these happen.

So are YOU ready to make these deals happen? All you need is ….

OK, pump the brakes, hold your horses, and bend the ear. While the end result is obviously exciting, there are a few steps you need to take to get there. And you may never get to that level. But know that it is possible, if this is what you want to do.

Tucker spent years building his business, honing his craft. He went through rough times, good times, more rough times, made mistakes, and made good choices along the way.

Through all that, the most important decision Tucker made was to keep learning about his business and to share his knowledge. He was a mortgage broker right before the real estate apocalypse (as he calls it) in 2008, self-funded his first flip almost out of necessity and desperation, learned to flip REOs and how to properly evaluate properties, went through general contractors (GCs) until he finally became a GC himself, developed his own software app for investing (and learned lessons about who not to hire), ventured into new construction, and moved up in target markets until his company, TTM Development, now primarily works in flipping high end properties around Portland.

Tucker has his mastermind program and two podcasts (The Portland Real Estate Podcast and The Real Dealz Podcast) he uses to help other real estate investors learn to do what he has accomplished. He constantly works with other people to help them realize their dreams. And even with his successes, he still buys other mastermind programs and sessions so he can continue to improve himself and his businesses.

So after you have all that in place, you can do an $800,000 profit deal, right? Maybe. 

If you do everything with INTENTION, you will succeed. Tucker organizes his entire business around intent — where they market, the formula they use to select properties, the financing/numbers on a project, his podcasts which have outlasted many others, his mentoring, etc. You can’t walk half-heartedly into real estate investing. You have to be fully committed, or it might drive you crazy enough to be committed. 

Don’t be afraid to ask for help. In fact, seek it out. Ask others for information and their experiences. Instead of trying to figure everything out, seek out tried and true methods. Build relationships; they will pay off down the road. Get the training to help you be successful. And know that you don’t have to go for the $800,000 profit flip right away. In fact, you probably won’t be able to for a variety of reasons, the biggest being it’s tough to get financing for those kinds of projects.

Just get started. Join local organizations and build contacts and relationships. Find mentors and teachers, attend conferences, and learn, learn, learn. You can do it, and as Tucker demonstrates, you can be very successful. You will have setbacks, unexpected things will pop up, and you will have great surprises. You just have to commit, be focused, and put in the work, both on the property and on yourself.

Watch the full podcast with Tucker Merrihew on the Real Estate Disruptors YouTube channel here: https://www.youtube.com/watch?v=TjF6KD0R-8Y&t=80s

Filed Under: Uncategorized Tagged With: big profits, Flip, flip profits, High end flip, massive profits, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang, tucker marrihew, tucker merrihew

$800k Profit on One Flip? Tucker Merrihew Shares How He’s Flipped 100s of High Profit Deals

September 25, 2020 By Steve Leave a Comment

Tucker Merrihew shares how he went from doing mortgages to flipping houses and new construction. A serial entrepreneur, Tucker has flipped and built hundreds of homes with massive profit margins.

In this episode, he shares not only what is possible, but a few actionable items that anybody can do to get started.

Video Replay of Interview with Tucker Merrihew

Start Your Real Estate Disruptors Journey by visiting http://www.realestatedisruptors.com

Transcription: TRANSCRIPT-800k-Profit-on-One-Flip_-Tucker-Merrihew-Shares-How-Hes-Flipped-100s-of-High-Profit-Deals_otterDownload
SHOW-NOTES-800K-Profit-on-One-Flip-Tucker-MerrihewDownload

SHOW NOTES

$800,000 Profit on One Flip

With Tucker Merrihew, TTM Development Company

Sept. 23, 2020

About Tucker Merrihew

Tucker Merrihew is the Owner and Head Acquisitions & Finance Manager for TTM Development Company. He began his career in the Real Estate business back in 2002 as a Top Producing Mortgage loan officer, and then by 2004 he built his own Mortgage Company TTM Finance, LLC & Davis Financial which is still in operation today. In 2008 Tucker began building TTM Development Company from the ground up, and presently he is in charge of daily operations, Investor Relations, project financing and all new acquisitions for the company. Currently Tucker is looking to expand his company’s brand through projects like the 2013 Street of Dreams in order to make TTM a household name for Portland homebuyers looking for exceptional homes. Tucker also has two very successful and long-running podcasts, The Portland Real Estate Podcast and The Real Dealz Podcast, each packed with helpful information for real estate investors of all levels.

Connect with or find more information about Tyler at linkedin.com/in/tucker-merrihew, facebook.com/tucker.merrihew, instagram.com/tucker_merrihew, ttmdevelopmentcompany.com, or check out his hit podcasts PortlandRealEstatePodcast.com and TheRealDealzPodcast.com.

Show Notes

Steve and Tucker discussed how he made $800,000 in profit from one flip, including his advice on how you can do the same thing. Listen to the full podcast on Real Estate Disruptors to get Tucker’s advice, lessons learned, and what is needed to start your very own podcast!

Top 5 Takeaways from Tucker Merrihew

5.  When doing flips, having a good General Contractor (GC) and a good relationship with your GC is key to getting flips done on time and on budget with quality work. 

4. Want to host your own podcast? Just do it! But you MUST be committed to continue doing it. As with anything in the real estate industry, having a high level of stick-to-itiveness is the key to success, no matter where the market may take you.

3. Relationships are the key to success. Knowing people in all areas of real estate can make your life easier and can give you resources you need when you need them.

2. Real estate business is a progression — don’t jump in the deep end right away. Start with wholesaling, or easy flips (carpet, paint, minor repairs); don’t start with high end flips (big investment = big risk even though payoff can be big). Learn on smaller projects where a mistake won’t bankrupt you.

1. Making big profits on high end flips is about three things:  Floorplan, Finishes, Lot. In the high end market, you can’t force a property to be what it isn’t. Buyers willing to pay millions for a property won’t accept substandard fixtures, a bad floorplan, or a bad lot. Two of these you can fix (with enough money), but you can’t fix a bad lot (and watch out for flag lots!).

Bonus Takeaway:  Everything Tucker does is done with intention, from the parameters of their direct mail marketing to their home design to their podcasts and software app. If you’re not going to set exactly what you want and go after it hard, maybe you shouldn’t be doing it because success will be difficult to achieve.

About Steve Trang

Steve Trang is the founder of the Real Estate Disruptors movement and host of the Real Estate Disruptors Podcast. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a second leg to their business. The podcast has now grown to ten thousand followers with new members of the community sharing their success story every week.

Steve’s goal is to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.

Connect with Steve at linkedin.com/in/stevetrang, facebook.com/stevetrang, instagram.com/steve.trang, stevetrang.com, or realestatedisruptors.com.

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Filed Under: Interview, Wholesale Tagged With: big profits, disruptors, Flip, flip profits, High end flip, massive profits, real estate, real estate disruptors, real estate marketing, real estate podcast, steve trang, tucker marrihew, tucker merrihew

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