August 23, 2023 • 46 mins
Angela, one of our FlipSisters coaching program members near Detroit, made an impressive 16% profit on her first house flip, all while juggling the demands of being a busy mom and a working a full-time job!
She walks us through:
- How she found the deal
- How she financed it
- How she handled the challenges that came up (as they do!)
- Her 3 biggest lessons (GOLDEN)
- How her sale was almost derailed by a very low appraisal
- How they saved the sale
and so much more!
Join us for this inspiring and insightful exploration of Angela's house flipping journey, rich with tips that both beginners and seasoned investors will find invaluable.
GOODIES
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Debbie DeBerry | The Flipstress®
Leaving people and places better than we find them.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
You're listening to the Flip Houses Like a Girl
podcast, where we educate,empower and celebrate everyday
women who are facing their fears, juggling family and business,
embracing their awesomeness andwholeheartedly chasing their
dream of flipping houses.
Each episode delivers honest togoodness tools, tips and
(00:21):
strategies you can implementtoday to get closer to your
first or next successful houseflip.
Here's your spiky hairedbreakfast taco loving host,
house flipping coach, DebbieDeViery.
Speaker 2 (00:40):
Hey there, thanks for hanging out with us today.
So we're going to talk withAngela, who is one of our flip
sisters in the Detroit, michiganarea, and we get to do a deep
dive.
On her first flip, she made anincredible 16% profit.
(01:01):
So, based on the sales price,16% of that was her profit.
Just for reference, bestpractice is 10%.
So anything above 10% isawesome, 10% is awesome.
Anything above it is even moreawesome.
And that was on the side of herbeing a busy mom and having a
(01:26):
full-time job.
So we're going to hear issuesthat came up, problems she had
to solve.
It was pretty smooth sailinguntil she went under contract to
sell and she had a surpriseappraisal that almost derailed
(01:46):
the whole thing.
So she'll tell us how theysaved the deal and the buyer got
to move forward with thepurchase.
But it got a little bit trickythere and it got a little bit
scary there.
And we're also going to talkabout the biggest lessons she
learned.
She shares three great lessonsthat are important for beginners
(02:08):
and seasoned investors alike.
All right, let's get into thisconversation.
You're going to love her.
She's fantastic and we call herAngela with the Cool Kicks.
Here we go.
You know the drill you want tointroduce yourself and let us
know who you are, where you areand what you're up to in the
(02:31):
world.
Speaker 3 (02:32):
My name is Angela and I live in Metro Detroit, just a
couple suburbs outside of thecity.
I'm a mom of a sixth grade boy,first year of middle school.
Big changes over here.
Speaker 2 (02:45):
Oh my gosh, I can't even with what happened in the
sixth grade.
It was crazy.
Speaker 3 (02:50):
It's a big change, it's a big adjustment.
Yeah, I'm a single mom, butsaying that doesn't give enough
credit to his dad, because he'sgot a great dad.
You know week on, week off, butyeah, I've got a child and a
full-time job, so I do keeppretty busy.
Okay, so you're workingfull-time.
I am.
(03:10):
Yeah, I work from home.
I've worked from homepre-pandemic since 2013,.
So I've been working from homefor a while Since before it was
a thing really.
Speaker 2 (03:21):
Yeah, what kind of work do you?
Speaker 3 (03:22):
do.
It's a strange job unless youknow about it.
I write training programs forpharmaceutical and biotech sales
reps.
So drugs come out, big companymeetings, things like that,
where they get their peopletogether, I develop training
solutions for whatever they needto learn about for that session
.
I used to travel a lot for work.
(03:43):
Thankfully it's every othermonth or so now, so it gives me
more time to be home and justsettled, which is now.
Speaker 2 (03:53):
Yeah, what landed you in our little bubble of
flipping houses?
So it's kind of funny.
Speaker 3 (04:04):
Well, I found myself in a week-long seminar thing
through another group and, well,I enjoyed learning about the
concepts.
It was a nice high-levelintroduction to just things that
now I realize are the basics.
(04:27):
It was enough for me tounderstand that that was not the
group for me, but that I likedthe space and I was interested
in learning more.
So I did some more research.
I found your podcast and I hadactually signed up for kind of
like getting to know you callwith someone.
And in the meantime I hadjoined my local Facebook page
(04:50):
like local real estate investorsand I had posted in there kind
of asking around about localmentors et cetera.
And Amy, who is one of our flipsisters, she responded to my
post in the local group sayinghey, she's not local, but Debbie
DeBerry is amazing.
And I was like that's enough, Ialready have this call set up.
But yeah.
(05:11):
And so, hearing that she hadhad such a great experience in
the program and having listenedto the podcast, I went into the
call with the mindset that, yeah, I think this is the place for
me and yeah.
I love it Shout out to Amy,shout out.
Amy is going to be shouted outlike three times she's awesome.
Speaker 2 (05:30):
I know she's awesome.
She's such a gem.
We are community.
I love our community because itjust attracts like the best
hearts.
So, yeah, let's definitely givecredit where credit is due.
So okay, so that's how youfound us.
And then when let's walk, you,let's walk through the first
(05:51):
flip.
So you recently sold it likeyou recently closed I did.
Speaker 3 (05:57):
I recently closed, two weeks ago, okay, and then
the next day after that I boughtmy second one.
So it was a busy week for methat week.
Look at you, that's awesome,yeah.
So I signed up for the programand I spent the first couple of
months going through the modules.
I didn't want to like dive intoanything before I was ready.
I, you know, set a little bit oftime aside every evening,
(06:18):
started going through everything, and then I built the team.
I started to follow the stepsand I did make a couple of
offers.
I connected with wholesalers inthe area.
I started making some offers,but I actually the one that I
ended up purchasing, shout outto Amy again.
Amy called me one day.
She said hey, I got this leadthrough my website.
(06:41):
It's not in an area that youknow I typically work in and
I've got enough going on rightnow, but it seems really
promising.
Would you be interested?
I'd go with you.
So Amy and I went out, met theseller, looked at it together.
She, you know, I don't know.
She gave me some good tips onwhat it was gutted Like.
Let's be real.
Everything needed to be done.
(07:01):
It was completely gutted, hadbeen empty for seven years.
It was a huge project, but Iwas like, yeah, this is this, is
this, is it, I want this house.
So we looked at it.
The seller wasn't reallytalking to anyone else signed
the papers.
It was all done in under a week.
Wow, it went really fast.
(07:23):
Yeah, we went straight to titlecompany.
Went straight to the titlecompany with the purchase
agreements and met at a coffeeshop, signed some papers and In
a way you go yeah.
Speaker 2 (07:34):
So what was the seller situation?
Like you said, the house hadbeen empty.
So did they live there?
Or had they inherited it, orNope.
Speaker 3 (07:46):
So what I found out?
So I was either the third orfourth.
I was never clear if there wasthree people before me or if I
was the third, but it had beenowned by multiple people trying
to do what.
What I did, trying to flipmultiple investors,
no-transcript, gotten in thereand then didn't really do
anything, ran into some issues,and I was the third one.
(08:09):
So the seller had purchased itabout two years before he did
some work.
But what I found out is and hetold us this upfront he didn't
pull the proper permits and whenthe city got kind of wind of
the work he was doing, they'revery strict and they made him
like take down all the drywall.
And then he got kind offrustrated with it and said I'm
(08:32):
done with this, this is.
It was just it felt bad to himat that point.
He wanted to get rid of it andmove on.
So I went in there knowing thehouse has like a big red flag on
it that I had to sign anaffidavit accepting all of these
violations, promising I'llcorrect them.
And so when I bought it it camewith a whole host of kind of
(08:56):
issues I had to go backwards andresolve and I knew which I
would have done anyways.
But you have to be very by thebook.
Pull the permits, do everythingthe right way.
Speaker 2 (09:08):
Yeah, because when you get caught it's like dang it
.
Why didn't I just do that?
It's a lot more work tountangle it.
It is more work to untangle it,and so people are like but I
don't wanna wait for the permit.
Well, I promise you you'regonna add on more time on the
backend cleaning up yourviolations.
Speaker 3 (09:27):
Yeah, and you don't realize too that people,
especially in smaller cities too, the people in the building
offices and the permittingoffices, they know you're not
fooling them.
They see a house is sold acouple months apart and the
listing says oh, all newelectrical, all new plumbing and
no permits for pull for thosethings.
Guess what?
You're gonna be in trouble.
(09:48):
I've become really good friendswith the women in the building
department because I spent somuch time there.
She and I would always chat andfind the work.
We should just go get lunch oneday.
So we're besties now.
I love it.
Speaker 2 (10:03):
I love it.
Speaker 3 (10:03):
That is so cool, I love that it's good to do it by
the properly and not getyourself in some trouble, even
if it does take a little bitmore work.
Speaker 2 (10:12):
Yeah, Okay.
So you bought it from eitherthe third or second investor who
owned it.
Okay, got it, Okay.
So when did you close on thepurchase?
Speaker 3 (10:27):
Like October 12th somewhere around there, okay,
early mid-October.
And what was the purchase price?
$37,000.
$37,000.
Okay, $37,000.
I know, oh, inexpensive.
It's quite a different market.
It's not in Detroit proper, butDetroit Metro, I think, is a
little bit unique to some partsof the country.
Speaker 2 (10:49):
Yeah, wow, okay.
When you first bought it, whatwere you anticipating the
repairs to be?
I thought about $80,000.
Speaker 3 (11:00):
And, like I said, it was totally gutted.
The previous investor did runElectrical and that was the one
thing that he did get approvedrough.
So it had some walls up and ithad rough Electrical but it
needed everything else.
It needed all new plumbing, ithad no ductwork, it needed all
(11:21):
HVAC and the Electrical ended uphaving some issues.
We took down some walls,everything it needed all new
siding.
The foundation needed repairs.
Speaker 2 (11:34):
It was a big project I love that you were like, let's
just do this, this is the one.
I love it.
I love that you weren't scaredoff by the fact that.
So sometimes that's what peoplefreak out oh, the repairs are
more than the house, yes, but itdoesn't matter if the numbers
work.
Speaker 3 (11:53):
And I wonder if people have that mindset too,
because some lenders that Italked to they won't necessarily
fund if the rehabs are morethan the purchase price.
So that could be something thatkind of put something in the no
category for people.
Speaker 2 (12:08):
Yes, so, speaking of how did you finance it?
Speaker 3 (12:12):
I took a HELAC a home equity line of credit, out on
my personal house.
I took a $125,000 HELAC out andmy intention was that I would
use the HELAC for down payments,possibly rehabs.
But with this one it was enoughto cover the purchase price and
the rehab, so I had like $17left in it when I was done.
(12:36):
But I funded the entire thingwith the HELAC, and I'm actually
doing that on the next housetoo.
But I'm not going to do itforever.
It's just working out this waythe first two times.
The beauty of it, though youcan keep reusing it.
Speaker 2 (12:47):
That is the beauty of it.
Absolutely so.
You anticipated ADK in repairs.
What did the repairs end upbeing?
Speaker 3 (12:54):
Just under $82,000.
Oh wow, Nice.
So pretty close yeah, and Iknew I needed to kind of stay
within that because I wasworking with my limited amount
that was in the HELAC and so Iknew I needed to come in right
around there and luckily therewas no huge.
I think it's hard to have hugesurprises when you're
(13:15):
anticipating, doing everythingExactly.
Speaker 2 (13:17):
Exactly my point on why I like to do those.
Yeah, yeah.
Were there any surprises on therepair front, or was it pretty
much?
I mean, you anticipated doingeverything and you did
everything.
Speaker 3 (13:30):
Exactly the only thing I didn't do, which I you
know, going forward, I did notdo a sewer scope before, so we
didn't really do an inspection.
We knew everything had to bedone and so that, always in the
back of my head, I was worriedthat I don't know what's
underground, what can't I see.
I was worried about it, but Ihad it ended up not being an
(13:52):
issue.
Speaker 2 (13:52):
Oh good.
Speaker 3 (13:53):
Yeah, we did have one later and it wasn't an issue,
but that could have been like inmy head.
I knew that that could havebeen the only thing that would
sneak up on me and maybe causesome trouble down the road.
Yeah, especially having satalone unused for so long.
You never know.
Speaker 2 (14:10):
Yep, what was the contractor situation?
Did you manage the contractorand subs, or did you have like a
GC running the show, or whatdid that look like?
Speaker 3 (14:19):
Not really.
So I vetted a handful at leastsix people.
Some of them I just didn't geta good vibe from and I couldn't
see myself working with them onsuch a big project for such a
long time.
I just, for whatever reason.
No, they weren't the people.
(14:39):
One guy I really liked, but hewas coming in way too expensive.
Another one couldn't start fora few months but as I was
sharing this with a close friendof mine, her husband said, hey,
you should reach out to thisguy, brad.
He did work in our house yearsago, but I see on Facebook he's
mostly working with investorsand I said, ok, I'll give him a
call.
Oh, my god, like he's the best.
(15:01):
He ended up being my main guy.
I had to have specializedtrades, of course, for the HVAC,
electrical, plumbing, all that,but yeah, brad did everything
else.
Or, with his team, he kind ofmanaged all the other things and
he was great to work with, likesuper communicative, really
nice guy.
We both love Detroit sports, sowe talk about basketball and
(15:22):
football all day.
He has a daughter in the sameschool with my son, although we
had never crossed paths before.
So yeah, he's wonderful andhe's working on the second house
.
And yeah, I told them, I neverwant to work at another house
without you.
Don't get that.
Speaker 2 (15:38):
I get that.
Yeah, you said that, I get that.
Speaker 3 (15:41):
Yeah, you've got the guys that work with him and it
really went well.
I feel like I lucked outcompletely.
Speaker 2 (15:48):
Nice, it generally does.
So you did the vetting up frontthough.
So I don't know that you luckedout.
Because you did the vetting,you didn't move forward with
people where your gut was like Idon't, I'm not feeling right
here.
So you listened to that.
So maybe a little bit of luck,but mostly you also vetted
(16:09):
Instinct too.
Speaker 3 (16:11):
Instinct, vetted, yeah.
And then with the specializedtrades, what I did was on the
local Facebook page.
I don't post a lot in there,but I'm on there and I see who's
active, who's doing things in away that I kind of think, from
what I know, who's doing thingsin a way that I would want to
(16:33):
also do them.
And then who do they use andwho's getting the good?
They're brutally honest in thisgroup and so you know if
someone's doing a great job andif they're not.
So I got multiple bids but Iwent with people that I had kind
of seen vetted in the group andtheir investors' friendly
pricing and that kind of stuff.
(16:54):
So I went with the people thatI had found through the Facebook
group.
Speaker 2 (16:58):
Yeah, I love those local real estate investing
groups for that very reason.
For those contractorrecommendations, for lender
recommendations, for whatevercabinets, whatever vendor,
they're a great resource forthat for sure.
Ok, awesome, so no majorsurprises.
(17:20):
Nice, so you bought it inOctober.
What was your total timeline?
Speaker 3 (17:27):
Total timeline from purchase to sale was just over
seven months and then from whenwe were done to when it sold,
there was about a month of likeclosing, closing all that kind
of stuff.
It took about six months, whichis what I had planned for.
But I didn't actually think itwould take that long.
I thought we'd be done morelike in February, but honestly
(17:53):
it's probably good that weweren't.
I think the market really didhere and I know it's different
everywhere it has recoveredduring the spring.
I think if we had sold them ifI had sold them February, it
would have been a little bit,maybe a little bit tougher, I'm
not sure.
I mean, you have to say, but Ithink I think it was not a bad
(18:14):
thing to wait until the spring.
Speaker 2 (18:17):
Tell me about when you listed it for sale.
How was that feeling?
Speaker 3 (18:26):
Really exciting I did do.
I had it staged.
I wanted it staged for my own.
I knew it would probably sellfaster, but I also wanted to
have like really pretty picturesfor an actor for my own kind of
like reflection on it.
But yeah, so I had it stagedand went on the market.
(18:50):
I was super excited.
Amy also has her license.
She does.
She's not like a day-to-day areal estate agent, but she has
her license.
So she listed it and we had 11showings the first day and we
had an open house scheduled forthe weekend.
We started, we listed it Ithink Wednesday night, thursday,
we had 11 showings and I hadtwo offers in hand by the end of
(19:14):
the day and another one theysaid was coming and one of the
offers they had put kind of atimeline for end of Friday and
the open house was Sunday.
And I don't know again, like Ikind of go with my gut on things
, maybe more than I should, butone of the offers I really liked
(19:37):
it was a good offer.
It was over asking.
I had an appraisal gap.
I felt really good about wherewe listed it price-wise, but
when I got offers both of themwere over.
I didn't know that it would.
I feel good about where welisted it, but I didn't think it
would necessarily appraise over.
So the appraisal gap was a nicelittle added bonus.
They're gonna pay transfertaxes and I don't know.
(20:00):
I just I felt like good vibescoming from the agent and the
buyer threw the offers.
So we ended up going with that.
I told Amy, let's take this one.
And that's where the kind ofsurprises started.
Oh gosh, okay, I was surprisedat the game during the sale part
of it.
Speaker 2 (20:19):
So what did you?
What was the list price of it?
Speaker 3 (20:23):
159,800.
Speaker 2 (20:29):
What did you end up going under contract app?
Speaker 3 (20:32):
The offer that I accepted was 171,000.
Oh, dang like significantlyover.
Yes, with the 5,000 appraisalgap, not to go over the top
price of 171s.
Got it, so yeah.
Speaker 2 (20:47):
Okay, so you took that offer, and then.
Speaker 3 (20:51):
And then the inspection happened.
Inspection went great likenothing.
They said there was nothingthat came up during the
inspection, which I had thoughtbecause we had just gone through
six inspections through thecity and got all of our stickers
, but Right.
And then the appraisal happenedand the appraisal came in like
(21:13):
really disappointingly low139,000.
Oh my gosh, which was like ashock in the worst way and
everyone was shocked the lender,the buyer's agent, me and Amy,
and we were all like, well, wedidn't expect this.
You know I didn't think itwould appraise at 171, but I had
(21:34):
done, you know, I thought, adecent job up front of comping.
But the thing that we ran intowas the house is a bungalow with
no garage and no basement, andthere are very, very, very few
of those in the market, sure.
So it was hard slash impossibleto find apples to apples, yeah.
(21:55):
So I was looking at bungalows,no garage, with the basement,
and then deducting 10,000,trying to find renovated, you
know, comparable finishes, etcetera.
But the appraiser wasn'tlooking at it that way, he only
was looking at bungalows with nogarage and no basement.
So he was willing to go furtherback in time and farther out
(22:19):
distance-wise to find theseproperties.
And then even then the ours wasliterally brand new, everything
in it, and some of them werenot renovated.
It didn't, and everyone canlook at it different ways.
You know, I had thought theappraisal was a little bit more
objective, less subjective, butthere's different ways you can
(22:40):
look at things, I guess.
Speaker 2 (22:41):
Oh yeah, for sure.
Yeah, oh yeah.
Get five appraisers and you'llhave five different appraisal
values.
Speaker 3 (22:47):
Yeah, so what we did, we put together the rebuttal
package.
You know it's like did a reallygood job with that.
I thought Amy sent it off andthen that night we heard back.
Because what they do is theysend your rebuttal package back
to the same appraiser and thatsame appraiser is like nope, I
did it right.
Sorry, you know it is what itis 136,000 next, and so that
(23:11):
that didn't seem right, likethat was.
I don't think I would have lostmoney, but I think I wouldn't
have made anything.
But I didn't want the buyerlike I don't know.
I felt I didn't want the buyeralso to lose out.
So we talked with through theagents.
Amy talked to her agent and shestill really wanted the house.
(23:32):
I didn't want to put it back onthe market.
I wanted to come to a solution.
So she switched to lenders andwe just started over again.
The new lender and thisappraisal came back in at 1.62.
Speaker 2 (23:48):
No joke.
Speaker 3 (23:50):
Yeah.
So we went from an appraisal of1.39 to the second appraiser,
with the new lender at 1.62.
And then with the $5,000 gapthat brought the final price up
to 1.67.
Speaker 2 (24:02):
Oh, my God yeah.
Speaker 3 (24:05):
Wow, it was a roller coaster.
Yeah, there's many differentways it could have gone.
We could have relisted it, shecould have walked away, but we
really wanted the house.
I wanted to sell it to her.
I didn't want to relist it.
Every month you hold it costsmoney and I don't know.
I just I felt like it wassupposed to go this way.
(24:25):
So I had kind of come to termswhich maybe I shouldn't have.
I had kind of like talkedmyself into well, if that
appraises low again, maybethat's the true worth of it and
that's.
I'm just gonna sell it and thiswas a learning experience.
But I'm glad that it didn'tbecause I do believe it's worth
what it appraised for, knowingwhat went into it and what's all
(24:49):
the things that are in therethat are literally brand new and
the location's really nice forthat part of town.
It's in a beautiful location.
So I don't know it all workedout, but it was a little bit
perry for a while, oh my gosh,that's crazy.
Speaker 2 (25:06):
It was a big yeah, a big, so stressful.
Well, because it's such ayou're so blindsided Like that
is shockingly low.
That's not just a low appraisal, that is shockingly low.
Speaker 3 (25:20):
Really really low.
You know I work okay with like150, 155,.
You know that still would havegot me to a 10% profit and you
know it's, but I'm really gladit worked out this way for many,
many reasons Right.
Right.
Speaker 2 (25:37):
Okay, so what did your profit end up being Just
over 27,000.
That is amazing.
Which is like what percent?
Like 16, 17%, maybe?
Speaker 3 (25:48):
Oh, it's sold for 167 and the profit I think higher
than that.
Speaker 2 (25:53):
Yeah, that's amazing.
Yeah, I think higher than that.
That is awesome.
Yeah, yeah, cause it's almost20.
Speaker 3 (26:00):
Yeah, yeah, your private 17.
So, yeah, the holding costswere just over 6,000.
Wow and yeah, closing costs 12and yeah, I walked away with
just over 27.
Speaker 2 (26:12):
That is so awesome.
Congratulations.
Yeah, thank you.
It was very exciting.
You freaking, did it.
Speaker 3 (26:17):
Yeah, I know that's so cool and I loved it.
I thought it was so fun.
I really really enjoyed it.
I liked problem solving, Iliked building relationships, I
liked meeting people.
All of it was really reallygood.
It was a huge project and onceI had tears once.
Speaker 2 (26:41):
After the first appraisal cause, that's probably
when I was right, yeah.
Speaker 3 (26:44):
Yeah, almost, but no, yeah, but it was great.
I really, really enjoyed it.
I couldn't wait to get another.
I just wanted that money toshow back up in the account so I
could send it out again.
And yeah, it was a really funproject and I want to keep doing
it for as long as I can.
I love that.
Speaker 2 (27:02):
Is there anything?
Let me ask it differently whatwere, say, what were some of
your top lessons learned on thatone?
Speaker 3 (27:12):
Yeah, I would say kind of a big one was to look at
the big picture, not when we'remaking decisions.
For example, electricalcontractor got multiple bids.
I ended up going with someonethat was one of the lower bids
(27:32):
but they were not.
This was you know how I said Iwent through people recommended
through the group.
I had gotten bids through thegroup, people I'd found through
the group, but the person Iended up using was a
recommendation from someone elsenot vetted through the group
came in lower.
You know it was like okay, away to save some money.
(27:54):
Incredibly difficult to dealwith.
They just disappear for weeks.
I think two full months of thetail end of the project were
just delays and the electricalend of things.
That's a lot of money.
When you think about holdingcosts, you know every month
saving that you know six or 800upfront ended up costing me
(28:17):
probably 3000.
Oh wow.
Speaker 2 (28:22):
Yes, that's such a great tip.
Speaker 3 (28:26):
I would use almost everybody again that I worked
with.
But I need to look at thebigger picture and not just make
decisions based on likepinching pennies at the outset.
And this time around too, I'mtrying to be more mindful of
sourcing deals for things.
You know I'm on a little bittighter budget with this one
(28:47):
that I'm working on now and I'vebeen just sourcing things, you
know, through different ways,like getting professional
discounts using my, you know,business tax idea where I can
finding the same tile I would gobuy at Home Depot.
You know someone's got threecases excess on marketplace for,
you know, 80% off and notcompromising the quality at all,
(29:09):
but just spending a little bitmore time to find the deals.
And I've been keeping a lotbetter records this time.
I did not keep great recordslast time so when it came time
to finish the project and lookat the numbers, I had to do a
lot of sorting and I know it'sgonna come back to bite me at
tax time.
Luckily, I kind of sortedthrough things you know to do my
(29:29):
post sale debrief, yeah, butI'm keeping a lot better records
this time of where the money'sgoing, what's going on every
week, so I can start to seepatterns of where the time both
time and dollars are going andhow they're flowing.
So I kind of winged it lasttime.
After about the first month Iwas very diligent and then I let
(29:51):
it go.
But I'm keeping really goodtrack this time and I've almost
spent besides my bucket forlabor.
I've almost spent my entirebudget this time.
So it's gonna be a quicker flipfor my second one and I've
managed to save about 4,000 fromwhat I had budgeted to what I
(30:12):
by just kind of being a littlebit more diligent about sourcing
things.
Speaker 2 (30:16):
Yes, I mean, especially this day and age, the
internet and all the differentmarketplaces everywhere that we
can get it in it.
You nailed it.
It's not about compromisingquality or even aesthetics,
right, it's just getting abetter price and saving where
you can.
Yeah, yeah, absolutely yeah.
(30:36):
So it sounds like you liked alot of the things.
Yeah, the problem solving allof that Did you do?
Did you choose the finish outand the design?
Did you do the design work?
Yeah, yeah.
Speaker 3 (30:47):
I did, and both houses that I work under you
know a little bit lower pricepoint.
It wouldn't have made sense togo crazy with the finishes you
know or do something you knowreally ornate or you know really
pricey.
But I feel like what I wasgoing for was something really
(31:09):
clean, modern, like kind oftimeless but with a touch of you
know, modern.
I went kind of light wood,white and black mostly and I
thought it looked really nice.
The staging really helpedbecause it showed how you could
bring color in.
I would like to do a house, youknow somewhere down the road
where I can be a little bit morecreative with you know some of
(31:31):
the finishes or something.
Speaker 2 (31:33):
But yeah, I don't know, but good for you for
keeping that balance, because wecan't overdo.
And it's hard because it's like, oh, but I want to do this,
this and this, and it'd be greatif I could do this, this and
this, and sometimes it's just wewell enough alone.
Yeah, and I would do.
Do what you need to do to, youknow, create a pretty product
and save, obviously, but stayingin line with the comparables,
(31:57):
because if you go above and andthen you're trying to price it
above to, you know, that's notgoing to work.
Yeah, it doesn't work that way.
The buyer doesn't care, thebuyer doesn't care what you put
into it.
Speaker 3 (32:08):
No, and the second, as I'm doing, I don't love the
color of it.
It's, you know, it's kind of ayellowy cream beige and it has
brown shutters.
And I was thinking about youknow, well, it's very costly to
recite it and, you know, couldpaint it as well, but the budget
doesn't really allow for that.
So what I'm doing instead ispower washing everything.
I had to put a new roof on, sodoing new shutters in a
(32:33):
different color, new windowboxes, tying the roof in, so it
looks completely different.
But we didn't have to changeall the siding or do that.
That is a lot more expensive,but in the neighborhood that
color is very common, so itdoesn't look any.
You know, it doesn't stand outfrom the neighborhood and I
think it's.
It looks a lot better now withthe new shutters and the new
(32:53):
roof and the the window boxesthat it adds like a little bit
of you know, I don't know justsomething, a little detail
design to it, but in a cost,more cost efficient manner.
Speaker 2 (33:05):
Right, so let's talk a little bit about the second
flip and like just what tell meabout?
Okay, so you bought it two daysafter.
No, the day after you sold yourfirst flip.
I love that.
Yep, yeah, which means you'vebeen in it about two weeks.
Yep, what do you think yourtimeframe will be on this one?
This one?
I'm hoping to get it threemonths.
(33:27):
Oh nice, it's not a full gut, Ipresume.
Speaker 3 (33:30):
No, no, it's not.
It's not at all.
I mean, it has walls.
I'll say that Everything elsehas come out.
It has walls and it hadductwork.
Yeah, so we got right in there.
We demoed everything.
20-yard dumpster filled up thefirst day, yeah.
And then that, following Monday, it had a brand new roof.
(33:52):
Tuesday it had a new furnaceand air conditioning yeah, and
everything's gutted.
Some walls are opened upalready.
We're fixing, you know, thingsthat need to be fixed before we
start, you know, putting it allback together.
It looks terrible right now.
It looked a lot better when Ibought it, even when it needed
state, but right now it looksawful.
(34:15):
My dad came over yesterday tohelp with some electrical issues
and I just needed his advice,since he's really smart about
these things and he was likewhoa you can see in the pictures
when I bought it.
Oh right, it's considerablyworse right now, you know, but
it's going to be good soon.
Speaker 2 (34:34):
Yeah, it's just the chaos before it gets all nice
and pretty.
It's supposed to look like that, okay.
So what were your numbers onthis one?
What did you buy it for?
What are you putting?
Speaker 3 (34:48):
into it.
I bought it for $90,500.
And I will put about $40,000into it and I want to list it at
$164,000.
So, yeah, probably not quite asbig a profit this time, but the
(35:10):
timeline shorter.
And you know, yeah, I washoping to get something on the
market in the summer, before thefall, but, yeah, I fell in love
.
So the first house was a greatproject but I didn't feel like
when I walked in it was just ashell, you know.
But when I walked into this one, a family had lived there for,
(35:31):
you know, a lifetime and I don'tknow.
It just felt different walkingin and I loved it.
You could tell it was very wellloved.
It just felt different.
I thought I really want thishouse.
It reminded me of mygrandparents and I had like all
these feelings walking into it.
And it has a half acre yard,which is big for, you know,
being in this area, I don't havea half acre of anywhere close
(35:53):
to that and you could tell itwas beautiful.
This woman had spent a ton oftime, you know, setting up this
yard in the gardens but it hadbeen neglected for many, many,
many years.
So there's like all this goodyou know, under there that I'm
excited to kind of bring it backback out.
The layout's really nice forthe.
I don't know it's just.
(36:13):
It felt really good.
I was, I really wanted it.
I had to.
There was a little.
I bought it off the MLS.
Speaker 2 (36:20):
Oh nice.
Speaker 3 (36:21):
I was going to ask you how you found it.
Yeah, I bought it off the MLSthis time and I went straight to
the listing agent and justcalled him and asked you know,
hey, you know I'm not, I'm notreally working with an agent.
Can I come take a look at thehouse?
And he's like, yeah, when canyou go?
So we met there half hour laterand Brad, my contractor he
(36:43):
lives like down the I don't knowfive minutes from there.
So he met me over there and wejust, you know, got it done.
We looked at it and I said,okay, you know, we're going to
go talk about this, I'll have anoffer over to you tonight.
And, yeah, it gave us a littleedge to not be working with a
buying agent at that point.
Speaker 2 (36:58):
Yes, I just said that to somebody in the group.
You don't have to have an agent.
Go to the listing agent.
Speaker 3 (37:03):
Yeah, and I always want to work with Amy to sell it
.
You know she said she likesdoing that kind of stuff, so
she'll, you know she'll sellthis when it's time.
But I think it gives you alittle bit of an edge to go
straight to an agent when you'rebuying, if you you know why not
you know, yeah, okay, so was ita new listing, or had it been
on the market a little bit?
It was brand new and so, yeah, Ihad to raise my offer a little
(37:26):
bit, but the number still workedand the agent sent me over the
other person's offer.
He's like I swear, I'm not, youknow, just trying to, you know.
Yeah, good for him.
Yeah, he was really transparent.
What was the list price?
It was listed at 80,000.
I had offered 86,000.
Someone else offered 90.
(37:47):
So I offered 90,500.
Speaker 2 (37:50):
I love it.
Speaker 3 (37:52):
Sorry, yeah, it would have been better to get it for
80, but it still works.
Speaker 2 (37:58):
That's exciting.
Yeah, I can't wait to see that.
One Can't wait to see thattransformation too.
Speaker 3 (38:04):
Yeah, me too.
I'm excited.
I bought everything.
Like everything is in thegarage.
Speaker 2 (38:08):
Oh my God, same I totally get that.
Speaker 3 (38:11):
I have bought everything.
I just like I want it to bethere when it's time.
Speaker 2 (38:15):
Yeah, I totally get that.
Like my thing is, so I ineverything.
It's like I hate to be theholdup anywhere.
So like if I don't want todelay somebody else doing their
job, because like it's sofrustrating when we're waiting
for somebody to do their job, sowe can do our job, and it's
like, oh so I never want to bethat person that is delaying
(38:38):
something, so I always havematerials piled high in the
garage and it's just what it'sgoing to be.
Speaker 3 (38:44):
Yeah, I feel you.
Yeah.
So I bought like all of thisstuff that I knew I needed.
I wanted to pick out, butthings, like you know, I don't
know sheets of drywall, grout,whatever, what I did with Brad,
this time I have gone.
Lowe's happens to be theclosest to this house.
If it was Home Depot I wouldhave done the same thing.
I went and bought a $500 giftcard and I you know he's using
(39:05):
that for kind of the incidentalpurchases and then when that
runs out or gets close, I'll gobuy another one.
So he's keeping the receiptsand I, just so it doesn't hold
him up and go buy stuff.
Yes, and then, like all theother things, are just sitting
in the garage waiting.
And it helps me too, because Iam working full time, so when I
have, you know, weekends orevenings, I can go gather all
(39:25):
this stuff up, put it in thegarage and then it's just it's
there when we're ready for it.
Speaker 2 (39:30):
Yeah, Is the goal?
Is the end goal to eventuallydo this full time, or are you
enjoying doing it on the side?
You know?
Speaker 3 (39:37):
my goal is eventually , like three to five years.
I want to shift the balance.
I like what I do, but my typeof work is also in demand, like
on a contract basis, so I thinkI could do this what I'm doing
professionally for clients moreon, like a freelance contract
basis yeah, as needed, and thenspend more time doing slips or
(40:01):
you know other times of realestate investing.
I do want to just, you know,buy and hold Eventually.
I know there's a lot ofbenefits, probably next year.
My goal was to flip two houseswithin the year of joining the
program, so I should be reallyclose.
That's amazing, yeah.
Speaker 2 (40:16):
I should be really close.
Seriously, that is just awesome.
Kudos to you.
You did it, you're doing it,you are on track to hit your
goal and I'm just I'm superhappy for you.
So anytime I think of you, Ithink of Angela with the cool
kicks, because you got on somecool kids at the event and I
(40:38):
always think Angela with thecool kicks.
Speaker 3 (40:40):
That event was so fun .
I can't wait for another one.
Speaker 2 (40:44):
Oh my gosh, I felt so good and people were like I
couldn't come or really want tocome.
But yeah, that was so.
It was awesome.
I didn't know how it was goingto translate.
The community online is soamazing and it's like is it
going to be OK in person too?
So I was nervous about that andit was beyond OK.
It was beyond anything like.
(41:06):
It makes me teary thinkingabout it right now.
I'm such a lush, but it's agreat community.
Well, thank you for making itsuch.
Thank you for playing a role in, and contributing and engaging
and just being you.
Thank you I love being hereAwesome.
Is there anything we didn'ttouch on that you wanted to
share?
I don't think so.
Speaker 3 (41:29):
Yeah, I think I think that's everything like kind of
my big lessons learned andsuccesses and yeah, no, it was.
I don't know, I didn't feelscared.
I that's not like part of how Ifelt about any of this.
I was excited the whole time.
Interesting.
I never thought it would be, Idon't know, I never thought
(41:49):
there'd be something that Icouldn't overcome.
And if you just go at thingswith the mindset that there's a
solution to every problem yes,might not be the first thing
that jumps to your mind, butthere, and don't be afraid to
reach out and ask people youknow, ask in the group, ask
locally.
If it's something that localknowledge is, you know, a better
(42:10):
solution for.
Speaker 2 (42:12):
Just ask yeah, what was your biggest fear?
Speaker 3 (42:17):
Not finding, not finding the right people to help
out, because I can't do thisalone, I don't have time or the
skills or, you know, like thatwas never my part of my plan.
So I was, I was, I was a littleworried about just finding the
right people, but didn't, youknow, end up being a bad thing?
(42:38):
I didn't really worry aboutlosing money because I thought,
even if I break even, it's madea nice house, someone's got a
good home.
You know, I was telling myselfall those things, it's good to
make the profit, you know, andreinvest it and all that.
But I don't know, I wasn'tsuper scared, I was just excited
and I think it's because I feltwell prepared.
(42:59):
You know, yeah, and you gothrough the modules, you, you
know, learn from people.
I went into it feeling likeI've done the work to be ready
for this and I'm not scaredabout it.
Speaker 2 (43:13):
I love that.
One of the biggest outcomesthat people get yeah, the flip
is great, that's fine, that'swonderful.
I know everybody's here for theflip, but obviously some big
things happen along the way tothat and I think one of the
biggest things, one of thebiggest outcomes, is People
(43:36):
learn to trust themselves more.
Trust that they will be OK Ifsomething comes up, trust that
there is a solution, even ifit's not the first thing you try
.
Just try something else, it'llbe OK, you will be OK.
So I'm glad that you had thatmindset going into it.
Speaker 3 (43:56):
It feels good to solve a problem Sure, going to
learn something along the way.
And you're like, yes, OK, I didthis.
Speaker 2 (44:02):
Honestly, if there weren't problems to solve, I
wouldn't be doing it Like it's Ilove the puzzles I love it's
like it's stimulating, right.
It's like, yeah, it makes mefeel like like I, like you said,
like I'm learning and growing.
So, yeah, well, kudos to you.
You did it and you're doing itagain, yes, and again, and again
(44:25):
, and again, and again, andagain and again.
Well, we'll have you back.
You can debrief us on numbertwo how it went.
Thank you, debbie.
Thanks Angela, thank you forfor just being you and the group
.
I.
We appreciate it.
I appreciate it very much.
I'm so glad you're here.
I'm so happy to be here.
Thanks, angela.
All right, I'll see you in thegroup.
Ok, bye.
(44:48):
Those lessons were great, right?
So to recap lesson one look atthe big picture.
The cheapest bid may end upcosting you more in the long run
.
And then, number two take timeto find better pricing on
materials without sacrificingquality.
All right, take the time toresearch and find the best deals
.
And then, number three keepbetter records.
(45:10):
Oh, I know that's a downfallfor a lot of us, but such great
reminders.
Thank you again, angela, forsharing your story with us and
listener, if you are stillsitting on the sideline,
thinking you can't do it becauseyou've got kids, because you've
got a full time job, becauseyou've got this and that.
Yes, you can.
If you're committed to the goal, you will find a way to make it
(45:31):
happen.
All right, we are here to help.
We give you daily guidance,daily coaching, daily support,
the steps to take everything youneed to do the thing.
If you want our help, go toherfirstflipcom and book a call
with us.
We'd love to connect with you.
All right, until next time, goout there, flip houses like a
(45:55):
girl, leave people in placesbetter than you find them and
make it a great day.
Bye, y'all.
You're listening to the Flip Houses Like a Girl
podcast, where we educate,empower and celebrate everyday
women who are facing their fears, juggling family and business,
embracing their awesomeness andwholeheartedly chasing their
dream of flipping houses.
Each episode delivers honest togoodness tools, tips and
(00:21):
strategies you can implementtoday to get closer to your
first or next successful houseflip.
Here's your spiky hairedbreakfast taco loving host,
house flipping coach, DebbieDeViery.
Speaker 2 (00:40):
Hey there, thanks for hanging out with us today.
So we're going to talk withAngela, who is one of our flip
sisters in the Detroit, michiganarea, and we get to do a deep
dive.
On her first flip, she made anincredible 16% profit.
(01:01):
So, based on the sales price,16% of that was her profit.
Just for reference, bestpractice is 10%.
So anything above 10% isawesome, 10% is awesome.
Anything above it is even moreawesome.
And that was on the side of herbeing a busy mom and having a
(01:26):
full-time job.
So we're going to hear issuesthat came up, problems she had
to solve.
It was pretty smooth sailinguntil she went under contract to
sell and she had a surpriseappraisal that almost derailed
(01:46):
the whole thing.
So she'll tell us how theysaved the deal and the buyer got
to move forward with thepurchase.
But it got a little bit trickythere and it got a little bit
scary there.
And we're also going to talkabout the biggest lessons she
learned.
She shares three great lessonsthat are important for beginners
(02:08):
and seasoned investors alike.
All right, let's get into thisconversation.
You're going to love her.
She's fantastic and we call herAngela with the Cool Kicks.
Here we go.
You know the drill you want tointroduce yourself and let us
know who you are, where you areand what you're up to in the
(02:31):
world.
Speaker 3 (02:32):
My name is Angela and I live in Metro Detroit, just a
couple suburbs outside of thecity.
I'm a mom of a sixth grade boy,first year of middle school.
Big changes over here.
Speaker 2 (02:45):
Oh my gosh, I can't even with what happened in the
sixth grade.
It was crazy.
Speaker 3 (02:50):
It's a big change, it's a big adjustment.
Yeah, I'm a single mom, butsaying that doesn't give enough
credit to his dad, because he'sgot a great dad.
You know week on, week off, butyeah, I've got a child and a
full-time job, so I do keeppretty busy.
Okay, so you're workingfull-time.
I am.
(03:10):
Yeah, I work from home.
I've worked from homepre-pandemic since 2013,.
So I've been working from homefor a while Since before it was
a thing really.
Speaker 2 (03:21):
Yeah, what kind of work do you?
Speaker 3 (03:22):
do.
It's a strange job unless youknow about it.
I write training programs forpharmaceutical and biotech sales
reps.
So drugs come out, big companymeetings, things like that,
where they get their peopletogether, I develop training
solutions for whatever they needto learn about for that session
.
I used to travel a lot for work.
(03:43):
Thankfully it's every othermonth or so now, so it gives me
more time to be home and justsettled, which is now.
Speaker 2 (03:53):
Yeah, what landed you in our little bubble of
flipping houses?
So it's kind of funny.
Speaker 3 (04:04):
Well, I found myself in a week-long seminar thing
through another group and, well,I enjoyed learning about the
concepts.
It was a nice high-levelintroduction to just things that
now I realize are the basics.
(04:27):
It was enough for me tounderstand that that was not the
group for me, but that I likedthe space and I was interested
in learning more.
So I did some more research.
I found your podcast and I hadactually signed up for kind of
like getting to know you callwith someone.
And in the meantime I hadjoined my local Facebook page
(04:50):
like local real estate investorsand I had posted in there kind
of asking around about localmentors et cetera.
And Amy, who is one of our flipsisters, she responded to my
post in the local group sayinghey, she's not local, but Debbie
DeBerry is amazing.
And I was like that's enough, Ialready have this call set up.
But yeah.
(05:11):
And so, hearing that she hadhad such a great experience in
the program and having listenedto the podcast, I went into the
call with the mindset that, yeah, I think this is the place for
me and yeah.
I love it Shout out to Amy,shout out.
Amy is going to be shouted outlike three times she's awesome.
Speaker 2 (05:30):
I know she's awesome.
She's such a gem.
We are community.
I love our community because itjust attracts like the best
hearts.
So, yeah, let's definitely givecredit where credit is due.
So okay, so that's how youfound us.
And then when let's walk, you,let's walk through the first
(05:51):
flip.
So you recently sold it likeyou recently closed I did.
Speaker 3 (05:57):
I recently closed, two weeks ago, okay, and then
the next day after that I boughtmy second one.
So it was a busy week for methat week.
Look at you, that's awesome,yeah.
So I signed up for the programand I spent the first couple of
months going through the modules.
I didn't want to like dive intoanything before I was ready.
I, you know, set a little bit oftime aside every evening,
(06:18):
started going through everything, and then I built the team.
I started to follow the stepsand I did make a couple of
offers.
I connected with wholesalers inthe area.
I started making some offers,but I actually the one that I
ended up purchasing, shout outto Amy again.
Amy called me one day.
She said hey, I got this leadthrough my website.
(06:41):
It's not in an area that youknow I typically work in and
I've got enough going on rightnow, but it seems really
promising.
Would you be interested?
I'd go with you.
So Amy and I went out, met theseller, looked at it together.
She, you know, I don't know.
She gave me some good tips onwhat it was gutted Like.
Let's be real.
Everything needed to be done.
(07:01):
It was completely gutted, hadbeen empty for seven years.
It was a huge project, but Iwas like, yeah, this is this, is
this, is it, I want this house.
So we looked at it.
The seller wasn't reallytalking to anyone else signed
the papers.
It was all done in under a week.
Wow, it went really fast.
(07:23):
Yeah, we went straight to titlecompany.
Went straight to the titlecompany with the purchase
agreements and met at a coffeeshop, signed some papers and In
a way you go yeah.
Speaker 2 (07:34):
So what was the seller situation?
Like you said, the house hadbeen empty.
So did they live there?
Or had they inherited it, orNope.
Speaker 3 (07:46):
So what I found out?
So I was either the third orfourth.
I was never clear if there wasthree people before me or if I
was the third, but it had beenowned by multiple people trying
to do what.
What I did, trying to flipmultiple investors,
no-transcript, gotten in thereand then didn't really do
anything, ran into some issues,and I was the third one.
(08:09):
So the seller had purchased itabout two years before he did
some work.
But what I found out is and hetold us this upfront he didn't
pull the proper permits and whenthe city got kind of wind of
the work he was doing, they'revery strict and they made him
like take down all the drywall.
And then he got kind offrustrated with it and said I'm
(08:32):
done with this, this is.
It was just it felt bad to himat that point.
He wanted to get rid of it andmove on.
So I went in there knowing thehouse has like a big red flag on
it that I had to sign anaffidavit accepting all of these
violations, promising I'llcorrect them.
And so when I bought it it camewith a whole host of kind of
(08:56):
issues I had to go backwards andresolve and I knew which I
would have done anyways.
But you have to be very by thebook.
Pull the permits, do everythingthe right way.
Speaker 2 (09:08):
Yeah, because when you get caught it's like dang it
.
Why didn't I just do that?
It's a lot more work tountangle it.
It is more work to untangle it,and so people are like but I
don't wanna wait for the permit.
Well, I promise you you'regonna add on more time on the
backend cleaning up yourviolations.
Speaker 3 (09:27):
Yeah, and you don't realize too that people,
especially in smaller cities too, the people in the building
offices and the permittingoffices, they know you're not
fooling them.
They see a house is sold acouple months apart and the
listing says oh, all newelectrical, all new plumbing and
no permits for pull for thosethings.
Guess what?
You're gonna be in trouble.
(09:48):
I've become really good friendswith the women in the building
department because I spent somuch time there.
She and I would always chat andfind the work.
We should just go get lunch oneday.
So we're besties now.
I love it.
Speaker 2 (10:03):
I love it.
Speaker 3 (10:03):
That is so cool, I love that it's good to do it by
the properly and not getyourself in some trouble, even
if it does take a little bitmore work.
Speaker 2 (10:12):
Yeah, Okay.
So you bought it from eitherthe third or second investor who
owned it.
Okay, got it, Okay.
So when did you close on thepurchase?
Speaker 3 (10:27):
Like October 12th somewhere around there, okay,
early mid-October.
And what was the purchase price?
$37,000.
$37,000.
Okay, $37,000.
I know, oh, inexpensive.
It's quite a different market.
It's not in Detroit proper, butDetroit Metro, I think, is a
little bit unique to some partsof the country.
Speaker 2 (10:49):
Yeah, wow, okay.
When you first bought it, whatwere you anticipating the
repairs to be?
I thought about $80,000.
Speaker 3 (11:00):
And, like I said, it was totally gutted.
The previous investor did runElectrical and that was the one
thing that he did get approvedrough.
So it had some walls up and ithad rough Electrical but it
needed everything else.
It needed all new plumbing, ithad no ductwork, it needed all
(11:21):
HVAC and the Electrical ended uphaving some issues.
We took down some walls,everything it needed all new
siding.
The foundation needed repairs.
Speaker 2 (11:34):
It was a big project I love that you were like, let's
just do this, this is the one.
I love it.
I love that you weren't scaredoff by the fact that.
So sometimes that's what peoplefreak out oh, the repairs are
more than the house, yes, but itdoesn't matter if the numbers
work.
Speaker 3 (11:53):
And I wonder if people have that mindset too,
because some lenders that Italked to they won't necessarily
fund if the rehabs are morethan the purchase price.
So that could be something thatkind of put something in the no
category for people.
Speaker 2 (12:08):
Yes, so, speaking of how did you finance it?
Speaker 3 (12:12):
I took a HELAC a home equity line of credit, out on
my personal house.
I took a $125,000 HELAC out andmy intention was that I would
use the HELAC for down payments,possibly rehabs.
But with this one it was enoughto cover the purchase price and
the rehab, so I had like $17left in it when I was done.
(12:36):
But I funded the entire thingwith the HELAC, and I'm actually
doing that on the next housetoo.
But I'm not going to do itforever.
It's just working out this waythe first two times.
The beauty of it, though youcan keep reusing it.
Speaker 2 (12:47):
That is the beauty of it.
Absolutely so.
You anticipated ADK in repairs.
What did the repairs end upbeing?
Speaker 3 (12:54):
Just under $82,000.
Oh wow, Nice.
So pretty close yeah, and Iknew I needed to kind of stay
within that because I wasworking with my limited amount
that was in the HELAC and so Iknew I needed to come in right
around there and luckily therewas no huge.
I think it's hard to have hugesurprises when you're
(13:15):
anticipating, doing everythingExactly.
Speaker 2 (13:17):
Exactly my point on why I like to do those.
Yeah, yeah.
Were there any surprises on therepair front, or was it pretty
much?
I mean, you anticipated doingeverything and you did
everything.
Speaker 3 (13:30):
Exactly the only thing I didn't do, which I you
know, going forward, I did notdo a sewer scope before, so we
didn't really do an inspection.
We knew everything had to bedone and so that, always in the
back of my head, I was worriedthat I don't know what's
underground, what can't I see.
I was worried about it, but Ihad it ended up not being an
(13:52):
issue.
Speaker 2 (13:52):
Oh good.
Speaker 3 (13:53):
Yeah, we did have one later and it wasn't an issue,
but that could have been like inmy head.
I knew that that could havebeen the only thing that would
sneak up on me and maybe causesome trouble down the road.
Yeah, especially having satalone unused for so long.
You never know.
Speaker 2 (14:10):
Yep, what was the contractor situation?
Did you manage the contractorand subs, or did you have like a
GC running the show, or whatdid that look like?
Speaker 3 (14:19):
Not really.
So I vetted a handful at leastsix people.
Some of them I just didn't geta good vibe from and I couldn't
see myself working with them onsuch a big project for such a
long time.
I just, for whatever reason.
No, they weren't the people.
(14:39):
One guy I really liked, but hewas coming in way too expensive.
Another one couldn't start fora few months but as I was
sharing this with a close friendof mine, her husband said, hey,
you should reach out to thisguy, brad.
He did work in our house yearsago, but I see on Facebook he's
mostly working with investorsand I said, ok, I'll give him a
call.
Oh, my god, like he's the best.
(15:01):
He ended up being my main guy.
I had to have specializedtrades, of course, for the HVAC,
electrical, plumbing, all that,but yeah, brad did everything
else.
Or, with his team, he kind ofmanaged all the other things and
he was great to work with, likesuper communicative, really
nice guy.
We both love Detroit sports, sowe talk about basketball and
(15:22):
football all day.
He has a daughter in the sameschool with my son, although we
had never crossed paths before.
So yeah, he's wonderful andhe's working on the second house
.
And yeah, I told them, I neverwant to work at another house
without you.
Don't get that.
Speaker 2 (15:38):
I get that.
Yeah, you said that, I get that.
Speaker 3 (15:41):
Yeah, you've got the guys that work with him and it
really went well.
I feel like I lucked outcompletely.
Speaker 2 (15:48):
Nice, it generally does.
So you did the vetting up frontthough.
So I don't know that you luckedout.
Because you did the vetting,you didn't move forward with
people where your gut was like Idon't, I'm not feeling right
here.
So you listened to that.
So maybe a little bit of luck,but mostly you also vetted
(16:09):
Instinct too.
Speaker 3 (16:11):
Instinct, vetted, yeah.
And then with the specializedtrades, what I did was on the
local Facebook page.
I don't post a lot in there,but I'm on there and I see who's
active, who's doing things in away that I kind of think, from
what I know, who's doing thingsin a way that I would want to
(16:33):
also do them.
And then who do they use andwho's getting the good?
They're brutally honest in thisgroup and so you know if
someone's doing a great job andif they're not.
So I got multiple bids but Iwent with people that I had kind
of seen vetted in the group andtheir investors' friendly
pricing and that kind of stuff.
(16:54):
So I went with the people thatI had found through the Facebook
group.
Speaker 2 (16:58):
Yeah, I love those local real estate investing
groups for that very reason.
For those contractorrecommendations, for lender
recommendations, for whatevercabinets, whatever vendor,
they're a great resource forthat for sure.
Ok, awesome, so no majorsurprises.
(17:20):
Nice, so you bought it inOctober.
What was your total timeline?
Speaker 3 (17:27):
Total timeline from purchase to sale was just over
seven months and then from whenwe were done to when it sold,
there was about a month of likeclosing, closing all that kind
of stuff.
It took about six months, whichis what I had planned for.
But I didn't actually think itwould take that long.
I thought we'd be done morelike in February, but honestly
(17:53):
it's probably good that weweren't.
I think the market really didhere and I know it's different
everywhere it has recoveredduring the spring.
I think if we had sold them ifI had sold them February, it
would have been a little bit,maybe a little bit tougher, I'm
not sure.
I mean, you have to say, but Ithink I think it was not a bad
(18:14):
thing to wait until the spring.
Speaker 2 (18:17):
Tell me about when you listed it for sale.
How was that feeling?
Speaker 3 (18:26):
Really exciting I did do.
I had it staged.
I wanted it staged for my own.
I knew it would probably sellfaster, but I also wanted to
have like really pretty picturesfor an actor for my own kind of
like reflection on it.
But yeah, so I had it stagedand went on the market.
(18:50):
I was super excited.
Amy also has her license.
She does.
She's not like a day-to-day areal estate agent, but she has
her license.
So she listed it and we had 11showings the first day and we
had an open house scheduled forthe weekend.
We started, we listed it Ithink Wednesday night, thursday,
we had 11 showings and I hadtwo offers in hand by the end of
(19:14):
the day and another one theysaid was coming and one of the
offers they had put kind of atimeline for end of Friday and
the open house was Sunday.
And I don't know again, like Ikind of go with my gut on things
, maybe more than I should, butone of the offers I really liked
(19:37):
it was a good offer.
It was over asking.
I had an appraisal gap.
I felt really good about wherewe listed it price-wise, but
when I got offers both of themwere over.
I didn't know that it would.
I feel good about where welisted it, but I didn't think it
would necessarily appraise over.
So the appraisal gap was a nicelittle added bonus.
They're gonna pay transfertaxes and I don't know.
(20:00):
I just I felt like good vibescoming from the agent and the
buyer threw the offers.
So we ended up going with that.
I told Amy, let's take this one.
And that's where the kind ofsurprises started.
Oh gosh, okay, I was surprisedat the game during the sale part
of it.
Speaker 2 (20:19):
So what did you?
What was the list price of it?
Speaker 3 (20:23):
159,800.
Speaker 2 (20:29):
What did you end up going under contract app?
Speaker 3 (20:32):
The offer that I accepted was 171,000.
Oh, dang like significantlyover.
Yes, with the 5,000 appraisalgap, not to go over the top
price of 171s.
Got it, so yeah.
Speaker 2 (20:47):
Okay, so you took that offer, and then.
Speaker 3 (20:51):
And then the inspection happened.
Inspection went great likenothing.
They said there was nothingthat came up during the
inspection, which I had thoughtbecause we had just gone through
six inspections through thecity and got all of our stickers
, but Right.
And then the appraisal happenedand the appraisal came in like
(21:13):
really disappointingly low139,000.
Oh my gosh, which was like ashock in the worst way and
everyone was shocked the lender,the buyer's agent, me and Amy,
and we were all like, well, wedidn't expect this.
You know I didn't think itwould appraise at 171, but I had
(21:34):
done, you know, I thought, adecent job up front of comping.
But the thing that we ran intowas the house is a bungalow with
no garage and no basement, andthere are very, very, very few
of those in the market, sure.
So it was hard slash impossibleto find apples to apples, yeah.
(21:55):
So I was looking at bungalows,no garage, with the basement,
and then deducting 10,000,trying to find renovated, you
know, comparable finishes, etcetera.
But the appraiser wasn'tlooking at it that way, he only
was looking at bungalows with nogarage and no basement.
So he was willing to go furtherback in time and farther out
(22:19):
distance-wise to find theseproperties.
And then even then the ours wasliterally brand new, everything
in it, and some of them werenot renovated.
It didn't, and everyone canlook at it different ways.
You know, I had thought theappraisal was a little bit more
objective, less subjective, butthere's different ways you can
(22:40):
look at things, I guess.
Speaker 2 (22:41):
Oh yeah, for sure.
Yeah, oh yeah.
Get five appraisers and you'llhave five different appraisal
values.
Speaker 3 (22:47):
Yeah, so what we did, we put together the rebuttal
package.
You know it's like did a reallygood job with that.
I thought Amy sent it off andthen that night we heard back.
Because what they do is theysend your rebuttal package back
to the same appraiser and thatsame appraiser is like nope, I
did it right.
Sorry, you know it is what itis 136,000 next, and so that
(23:11):
that didn't seem right, likethat was.
I don't think I would have lostmoney, but I think I wouldn't
have made anything.
But I didn't want the buyerlike I don't know.
I felt I didn't want the buyeralso to lose out.
So we talked with through theagents.
Amy talked to her agent and shestill really wanted the house.
(23:32):
I didn't want to put it back onthe market.
I wanted to come to a solution.
So she switched to lenders andwe just started over again.
The new lender and thisappraisal came back in at 1.62.
Speaker 2 (23:48):
No joke.
Speaker 3 (23:50):
Yeah.
So we went from an appraisal of1.39 to the second appraiser,
with the new lender at 1.62.
And then with the $5,000 gapthat brought the final price up
to 1.67.
Speaker 2 (24:02):
Oh, my God yeah.
Speaker 3 (24:05):
Wow, it was a roller coaster.
Yeah, there's many differentways it could have gone.
We could have relisted it, shecould have walked away, but we
really wanted the house.
I wanted to sell it to her.
I didn't want to relist it.
Every month you hold it costsmoney and I don't know.
I just I felt like it wassupposed to go this way.
(24:25):
So I had kind of come to termswhich maybe I shouldn't have.
I had kind of like talkedmyself into well, if that
appraises low again, maybethat's the true worth of it and
that's.
I'm just gonna sell it and thiswas a learning experience.
But I'm glad that it didn'tbecause I do believe it's worth
what it appraised for, knowingwhat went into it and what's all
(24:49):
the things that are in therethat are literally brand new and
the location's really nice forthat part of town.
It's in a beautiful location.
So I don't know it all workedout, but it was a little bit
perry for a while, oh my gosh,that's crazy.
Speaker 2 (25:06):
It was a big yeah, a big, so stressful.
Well, because it's such ayou're so blindsided Like that
is shockingly low.
That's not just a low appraisal, that is shockingly low.
Speaker 3 (25:20):
Really really low.
You know I work okay with like150, 155,.
You know that still would havegot me to a 10% profit and you
know it's, but I'm really gladit worked out this way for many,
many reasons Right.
Right.
Speaker 2 (25:37):
Okay, so what did your profit end up being Just
over 27,000.
That is amazing.
Which is like what percent?
Like 16, 17%, maybe?
Speaker 3 (25:48):
Oh, it's sold for 167 and the profit I think higher
than that.
Speaker 2 (25:53):
Yeah, that's amazing.
Yeah, I think higher than that.
That is awesome.
Yeah, yeah, cause it's almost20.
Speaker 3 (26:00):
Yeah, yeah, your private 17.
So, yeah, the holding costswere just over 6,000.
Wow and yeah, closing costs 12and yeah, I walked away with
just over 27.
Speaker 2 (26:12):
That is so awesome.
Congratulations.
Yeah, thank you.
It was very exciting.
You freaking, did it.
Speaker 3 (26:17):
Yeah, I know that's so cool and I loved it.
I thought it was so fun.
I really really enjoyed it.
I liked problem solving, Iliked building relationships, I
liked meeting people.
All of it was really reallygood.
It was a huge project and onceI had tears once.
Speaker 2 (26:41):
After the first appraisal cause, that's probably
when I was right, yeah.
Speaker 3 (26:44):
Yeah, almost, but no, yeah, but it was great.
I really, really enjoyed it.
I couldn't wait to get another.
I just wanted that money toshow back up in the account so I
could send it out again.
And yeah, it was a really funproject and I want to keep doing
it for as long as I can.
I love that.
Speaker 2 (27:02):
Is there anything?
Let me ask it differently whatwere, say, what were some of
your top lessons learned on thatone?
Speaker 3 (27:12):
Yeah, I would say kind of a big one was to look at
the big picture, not when we'remaking decisions.
For example, electricalcontractor got multiple bids.
I ended up going with someonethat was one of the lower bids
(27:32):
but they were not.
This was you know how I said Iwent through people recommended
through the group.
I had gotten bids through thegroup, people I'd found through
the group, but the person Iended up using was a
recommendation from someone elsenot vetted through the group
came in lower.
You know it was like okay, away to save some money.
(27:54):
Incredibly difficult to dealwith.
They just disappear for weeks.
I think two full months of thetail end of the project were
just delays and the electricalend of things.
That's a lot of money.
When you think about holdingcosts, you know every month
saving that you know six or 800upfront ended up costing me
(28:17):
probably 3000.
Oh wow.
Speaker 2 (28:22):
Yes, that's such a great tip.
Speaker 3 (28:26):
I would use almost everybody again that I worked
with.
But I need to look at thebigger picture and not just make
decisions based on likepinching pennies at the outset.
And this time around too, I'mtrying to be more mindful of
sourcing deals for things.
You know I'm on a little bittighter budget with this one
(28:47):
that I'm working on now and I'vebeen just sourcing things, you
know, through different ways,like getting professional
discounts using my, you know,business tax idea where I can
finding the same tile I would gobuy at Home Depot.
You know someone's got threecases excess on marketplace for,
you know, 80% off and notcompromising the quality at all,
(29:09):
but just spending a little bitmore time to find the deals.
And I've been keeping a lotbetter records this time.
I did not keep great recordslast time so when it came time
to finish the project and lookat the numbers, I had to do a
lot of sorting and I know it'sgonna come back to bite me at
tax time.
Luckily, I kind of sortedthrough things you know to do my
(29:29):
post sale debrief, yeah, butI'm keeping a lot better records
this time of where the money'sgoing, what's going on every
week, so I can start to seepatterns of where the time both
time and dollars are going andhow they're flowing.
So I kind of winged it lasttime.
After about the first month Iwas very diligent and then I let
(29:51):
it go.
But I'm keeping really goodtrack this time and I've almost
spent besides my bucket forlabor.
I've almost spent my entirebudget this time.
So it's gonna be a quicker flipfor my second one and I've
managed to save about 4,000 fromwhat I had budgeted to what I
(30:12):
by just kind of being a littlebit more diligent about sourcing
things.
Speaker 2 (30:16):
Yes, I mean, especially this day and age, the
internet and all the differentmarketplaces everywhere that we
can get it in it.
You nailed it.
It's not about compromisingquality or even aesthetics,
right, it's just getting abetter price and saving where
you can.
Yeah, yeah, absolutely yeah.
(30:36):
So it sounds like you liked alot of the things.
Yeah, the problem solving allof that Did you do?
Did you choose the finish outand the design?
Did you do the design work?
Yeah, yeah.
Speaker 3 (30:47):
I did, and both houses that I work under you
know a little bit lower pricepoint.
It wouldn't have made sense togo crazy with the finishes you
know or do something you knowreally ornate or you know really
pricey.
But I feel like what I wasgoing for was something really
(31:09):
clean, modern, like kind oftimeless but with a touch of you
know, modern.
I went kind of light wood,white and black mostly and I
thought it looked really nice.
The staging really helpedbecause it showed how you could
bring color in.
I would like to do a house, youknow somewhere down the road
where I can be a little bit morecreative with you know some of
(31:31):
the finishes or something.
Speaker 2 (31:33):
But yeah, I don't know, but good for you for
keeping that balance, because wecan't overdo.
And it's hard because it's like, oh, but I want to do this,
this and this, and it'd be greatif I could do this, this and
this, and sometimes it's just wewell enough alone.
Yeah, and I would do.
Do what you need to do to, youknow, create a pretty product
and save, obviously, but stayingin line with the comparables,
(31:57):
because if you go above and andthen you're trying to price it
above to, you know, that's notgoing to work.
Yeah, it doesn't work that way.
The buyer doesn't care, thebuyer doesn't care what you put
into it.
Speaker 3 (32:08):
No, and the second, as I'm doing, I don't love the
color of it.
It's, you know, it's kind of ayellowy cream beige and it has
brown shutters.
And I was thinking about youknow, well, it's very costly to
recite it and, you know, couldpaint it as well, but the budget
doesn't really allow for that.
So what I'm doing instead ispower washing everything.
I had to put a new roof on, sodoing new shutters in a
(32:33):
different color, new windowboxes, tying the roof in, so it
looks completely different.
But we didn't have to changeall the siding or do that.
That is a lot more expensive,but in the neighborhood that
color is very common, so itdoesn't look any.
You know, it doesn't stand outfrom the neighborhood and I
think it's.
It looks a lot better now withthe new shutters and the new
(32:53):
roof and the the window boxesthat it adds like a little bit
of you know, I don't know justsomething, a little detail
design to it, but in a cost,more cost efficient manner.
Speaker 2 (33:05):
Right, so let's talk a little bit about the second
flip and like just what tell meabout?
Okay, so you bought it two daysafter.
No, the day after you sold yourfirst flip.
I love that.
Yep, yeah, which means you'vebeen in it about two weeks.
Yep, what do you think yourtimeframe will be on this one?
This one?
I'm hoping to get it threemonths.
(33:27):
Oh nice, it's not a full gut, Ipresume.
Speaker 3 (33:30):
No, no, it's not.
It's not at all.
I mean, it has walls.
I'll say that Everything elsehas come out.
It has walls and it hadductwork.
Yeah, so we got right in there.
We demoed everything.
20-yard dumpster filled up thefirst day, yeah.
And then that, following Monday, it had a brand new roof.
(33:52):
Tuesday it had a new furnaceand air conditioning yeah, and
everything's gutted.
Some walls are opened upalready.
We're fixing, you know, thingsthat need to be fixed before we
start, you know, putting it allback together.
It looks terrible right now.
It looked a lot better when Ibought it, even when it needed
state, but right now it looksawful.
(34:15):
My dad came over yesterday tohelp with some electrical issues
and I just needed his advice,since he's really smart about
these things and he was likewhoa you can see in the pictures
when I bought it.
Oh right, it's considerablyworse right now, you know, but
it's going to be good soon.
Speaker 2 (34:34):
Yeah, it's just the chaos before it gets all nice
and pretty.
It's supposed to look like that, okay.
So what were your numbers onthis one?
What did you buy it for?
What are you putting?
Speaker 3 (34:48):
into it.
I bought it for $90,500.
And I will put about $40,000into it and I want to list it at
$164,000.
So, yeah, probably not quite asbig a profit this time, but the
(35:10):
timeline shorter.
And you know, yeah, I washoping to get something on the
market in the summer, before thefall, but, yeah, I fell in love
.
So the first house was a greatproject but I didn't feel like
when I walked in it was just ashell, you know.
But when I walked into this one, a family had lived there for,
(35:31):
you know, a lifetime and I don'tknow.
It just felt different walkingin and I loved it.
You could tell it was very wellloved.
It just felt different.
I thought I really want thishouse.
It reminded me of mygrandparents and I had like all
these feelings walking into it.
And it has a half acre yard,which is big for, you know,
being in this area, I don't havea half acre of anywhere close
(35:53):
to that and you could tell itwas beautiful.
This woman had spent a ton oftime, you know, setting up this
yard in the gardens but it hadbeen neglected for many, many,
many years.
So there's like all this goodyou know, under there that I'm
excited to kind of bring it backback out.
The layout's really nice forthe.
I don't know it's just.
(36:13):
It felt really good.
I was, I really wanted it.
I had to.
There was a little.
I bought it off the MLS.
Speaker 2 (36:20):
Oh nice.
Speaker 3 (36:21):
I was going to ask you how you found it.
Yeah, I bought it off the MLSthis time and I went straight to
the listing agent and justcalled him and asked you know,
hey, you know I'm not, I'm notreally working with an agent.
Can I come take a look at thehouse?
And he's like, yeah, when canyou go?
So we met there half hour laterand Brad, my contractor he
(36:43):
lives like down the I don't knowfive minutes from there.
So he met me over there and wejust, you know, got it done.
We looked at it and I said,okay, you know, we're going to
go talk about this, I'll have anoffer over to you tonight.
And, yeah, it gave us a littleedge to not be working with a
buying agent at that point.
Speaker 2 (36:58):
Yes, I just said that to somebody in the group.
You don't have to have an agent.
Go to the listing agent.
Speaker 3 (37:03):
Yeah, and I always want to work with Amy to sell it
.
You know she said she likesdoing that kind of stuff, so
she'll, you know she'll sellthis when it's time.
But I think it gives you alittle bit of an edge to go
straight to an agent when you'rebuying, if you you know why not
you know, yeah, okay, so was ita new listing, or had it been
on the market a little bit?
It was brand new and so, yeah, Ihad to raise my offer a little
(37:26):
bit, but the number still workedand the agent sent me over the
other person's offer.
He's like I swear, I'm not, youknow, just trying to, you know.
Yeah, good for him.
Yeah, he was really transparent.
What was the list price?
It was listed at 80,000.
I had offered 86,000.
Someone else offered 90.
(37:47):
So I offered 90,500.
Speaker 2 (37:50):
I love it.
Speaker 3 (37:52):
Sorry, yeah, it would have been better to get it for
80, but it still works.
Speaker 2 (37:58):
That's exciting.
Yeah, I can't wait to see that.
One Can't wait to see thattransformation too.
Speaker 3 (38:04):
Yeah, me too.
I'm excited.
I bought everything.
Like everything is in thegarage.
Speaker 2 (38:08):
Oh my God, same I totally get that.
Speaker 3 (38:11):
I have bought everything.
I just like I want it to bethere when it's time.
Speaker 2 (38:15):
Yeah, I totally get that.
Like my thing is, so I ineverything.
It's like I hate to be theholdup anywhere.
So like if I don't want todelay somebody else doing their
job, because like it's sofrustrating when we're waiting
for somebody to do their job, sowe can do our job, and it's
like, oh so I never want to bethat person that is delaying
(38:38):
something, so I always havematerials piled high in the
garage and it's just what it'sgoing to be.
Speaker 3 (38:44):
Yeah, I feel you.
Yeah.
So I bought like all of thisstuff that I knew I needed.
I wanted to pick out, butthings, like you know, I don't
know sheets of drywall, grout,whatever, what I did with Brad,
this time I have gone.
Lowe's happens to be theclosest to this house.
If it was Home Depot I wouldhave done the same thing.
I went and bought a $500 giftcard and I you know he's using
(39:05):
that for kind of the incidentalpurchases and then when that
runs out or gets close, I'll gobuy another one.
So he's keeping the receiptsand I, just so it doesn't hold
him up and go buy stuff.
Yes, and then, like all theother things, are just sitting
in the garage waiting.
And it helps me too, because Iam working full time, so when I
have, you know, weekends orevenings, I can go gather all
(39:25):
this stuff up, put it in thegarage and then it's just it's
there when we're ready for it.
Speaker 2 (39:30):
Yeah, Is the goal?
Is the end goal to eventuallydo this full time, or are you
enjoying doing it on the side?
You know?
Speaker 3 (39:37):
my goal is eventually , like three to five years.
I want to shift the balance.
I like what I do, but my typeof work is also in demand, like
on a contract basis, so I thinkI could do this what I'm doing
professionally for clients moreon, like a freelance contract
basis yeah, as needed, and thenspend more time doing slips or
(40:01):
you know other times of realestate investing.
I do want to just, you know,buy and hold Eventually.
I know there's a lot ofbenefits, probably next year.
My goal was to flip two houseswithin the year of joining the
program, so I should be reallyclose.
That's amazing, yeah.
Speaker 2 (40:16):
I should be really close.
Seriously, that is just awesome.
Kudos to you.
You did it, you're doing it,you are on track to hit your
goal and I'm just I'm superhappy for you.
So anytime I think of you, Ithink of Angela with the cool
kicks, because you got on somecool kids at the event and I
(40:38):
always think Angela with thecool kicks.
Speaker 3 (40:40):
That event was so fun .
I can't wait for another one.
Speaker 2 (40:44):
Oh my gosh, I felt so good and people were like I
couldn't come or really want tocome.
But yeah, that was so.
It was awesome.
I didn't know how it was goingto translate.
The community online is soamazing and it's like is it
going to be OK in person too?
So I was nervous about that andit was beyond OK.
It was beyond anything like.
(41:06):
It makes me teary thinkingabout it right now.
I'm such a lush, but it's agreat community.
Well, thank you for making itsuch.
Thank you for playing a role in, and contributing and engaging
and just being you.
Thank you I love being hereAwesome.
Is there anything we didn'ttouch on that you wanted to
share?
I don't think so.
Speaker 3 (41:29):
Yeah, I think I think that's everything like kind of
my big lessons learned andsuccesses and yeah, no, it was.
I don't know, I didn't feelscared.
I that's not like part of how Ifelt about any of this.
I was excited the whole time.
Interesting.
I never thought it would be, Idon't know, I never thought
(41:49):
there'd be something that Icouldn't overcome.
And if you just go at thingswith the mindset that there's a
solution to every problem yes,might not be the first thing
that jumps to your mind, butthere, and don't be afraid to
reach out and ask people youknow, ask in the group, ask
locally.
If it's something that localknowledge is, you know, a better
(42:10):
solution for.
Speaker 2 (42:12):
Just ask yeah, what was your biggest fear?
Speaker 3 (42:17):
Not finding, not finding the right people to help
out, because I can't do thisalone, I don't have time or the
skills or, you know, like thatwas never my part of my plan.
So I was, I was, I was a littleworried about just finding the
right people, but didn't, youknow, end up being a bad thing?
(42:38):
I didn't really worry aboutlosing money because I thought,
even if I break even, it's madea nice house, someone's got a
good home.
You know, I was telling myselfall those things, it's good to
make the profit, you know, andreinvest it and all that.
But I don't know, I wasn'tsuper scared, I was just excited
and I think it's because I feltwell prepared.
(42:59):
You know, yeah, and you gothrough the modules, you, you
know, learn from people.
I went into it feeling likeI've done the work to be ready
for this and I'm not scaredabout it.
Speaker 2 (43:13):
I love that.
One of the biggest outcomesthat people get yeah, the flip
is great, that's fine, that'swonderful.
I know everybody's here for theflip, but obviously some big
things happen along the way tothat and I think one of the
biggest things, one of thebiggest outcomes, is People
(43:36):
learn to trust themselves more.
Trust that they will be OK Ifsomething comes up, trust that
there is a solution, even ifit's not the first thing you try
.
Just try something else, it'llbe OK, you will be OK.
So I'm glad that you had thatmindset going into it.
Speaker 3 (43:56):
It feels good to solve a problem Sure, going to
learn something along the way.
And you're like, yes, OK, I didthis.
Speaker 2 (44:02):
Honestly, if there weren't problems to solve, I
wouldn't be doing it Like it's Ilove the puzzles I love it's
like it's stimulating, right.
It's like, yeah, it makes mefeel like like I, like you said,
like I'm learning and growing.
So, yeah, well, kudos to you.
You did it and you're doing itagain, yes, and again, and again
(44:25):
, and again, and again, andagain and again.
Well, we'll have you back.
You can debrief us on numbertwo how it went.
Thank you, debbie.
Thanks Angela, thank you forfor just being you and the group
.
I.
We appreciate it.
I appreciate it very much.
I'm so glad you're here.
I'm so happy to be here.
Thanks, angela.
All right, I'll see you in thegroup.
Ok, bye.
(44:48):
Those lessons were great, right?
So to recap lesson one look atthe big picture.
The cheapest bid may end upcosting you more in the long run
.
And then, number two take timeto find better pricing on
materials without sacrificingquality.
All right, take the time toresearch and find the best deals
.
And then, number three keepbetter records.
(45:10):
Oh, I know that's a downfallfor a lot of us, but such great
reminders.
Thank you again, angela, forsharing your story with us and
listener, if you are stillsitting on the sideline,
thinking you can't do it becauseyou've got kids, because you've
got a full time job, becauseyou've got this and that.
Yes, you can.
If you're committed to the goal, you will find a way to make it
(45:31):
happen.
All right, we are here to help.
We give you daily guidance,daily coaching, daily support,
the steps to take everything youneed to do the thing.
If you want our help, go toherfirstflipcom and book a call
with us.
We'd love to connect with you.
All right, until next time, goout there, flip houses like a
(45:55):
girl, leave people in placesbetter than you find them and
make it a great day.
Bye, y'all.
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