Why Most “Flipping” Seminars Don’t Work
This isn’t to say home flipping seminars are a waste of time, I have been to many, and I am willing to attend with clients to try to guide them. Normally we can find some wonderful nuggets of pre-packaged information or feel good motivation to walk away with. After-all, seminars are often lead by amazing sales people. Sadly these seminars are designed to get you to buy into their program, the coaching, their business. If these programs actually worked and were made to work as designed there would be so much competition they would never be able to pull it off. Think about it from a practical standpoint, flippers are already struggling in our market to identify and purchase properties, thus if even a small percentage of the thousands of people you see cutting a check actually succeeded the market would be so flooded with competition it would never work!
Most of these seminars teach you to target the 5% of that already saturated market to purchase wholesale or “as assignee”. Basically they are teaching you to find someone willing to let you put there home under contract then find a buyer to purchase that home for a profit over what you are in the original contract for…..really thing about that. How many people do you know would allow someone to purchase their home, for less than it is worth on the market, with no money down, for the chance that you may be able to find a buyer to purchase that from you at a profit?…. Also you have to do this all on your own with no representation or insurance if things go wrong.
Sure I will admit there are places this may be possible under a very unique and specific set of circumstances, but as a general rule this is not something you would find in a city or area that is desirable for flipping.
Flipping is absolutely possible, even in our current market. You are far better off saving your cash to actually flip homes! Learn by action, learn by connecting with Realtors, contractors, and experienced professionals in that space that don’t just talk about flipping homes, but are actually flipping homes! Reach out today for any of your home flipping questions and lets open a dialog for how to identify what you are looking for, how to find it, and what steps to take to protect your interest, rather than a seminar that will sell you a program and be off to another city and far out of reach by the time your check clears.
Contact Christopher Sheehan
Leave a Reply