Alright what's up guys, here dude, listen up I got Cody Burber in the house
what's up bud? What's up baby? Dude glad to have you here. I'm ready to
do this. If you see this animal online, dude this guy got a party and have fun.
I'll never forget watching one of your first videos and you're like, "I would
5 years before I ever bought a lottery anything." I'm like, "Dude, that was
like me. Except that was 4 and a half years. I caved that for four and a half
years and then I like... I saw you whip the doors go up. I can... I get on
your rolling. Alright, so guys listen up. Cody is the man here guys when it comes
to this game of flipping, whether you're talking wholesaling or actually like
hands-on rehabbing, listen, I can't think of anyone better that can bring on the
channel that can really dive in on this. And so here's here's a reality so many
people have requested this video and so here's what we're going to do...
It's about to be...
We're going to keep this video short with schools in session so dude pen and paper
you're going to want to go. But for any of their like, "Men, you're going to fast. I
need more. Slow run down. There's a link below and I asked Cody to actually put a
webinar together with him and one of his buddies where they're crushing it in the
game and you can get more information there. But with that, with the tongue we
got man, dude, I'm going to lay down like the law here on the 5 steps how do
you really get in the game and how do you really make it happen? Yeah and I
think this is going to be a great video just because when I first started real
estate investing, I leaned in on wholesaling, right? Because there was risk
free, I didn't have any money when I was starting, and I needed to create the
money so I can go and do the rehabs because these are the bigger paydays. Yes.
This is where you really can magnify your results and for me, I kind of take
the mindset of like, I'm a marketer in the real estate space that wants to
generate as many leads as possible and I don't want to leave any lead behind.
So I was on doing my wholesale deals every once a while, cherry pick out the
best one, run a rehab on it and get the big paydays. So pause I want to help you
guys understand this. When we say wholesaling we're talking about
rehabbing we're talking about flipping but different. One is flipping paper and
you can get paid 2 grand, 5 grand maybe 10 grand for finding a good deal
and pawning it off so you get out of the deal. And you can make some quick money
that way. But do the other side is you say, "Hey, but if I actually find that good
of a deal and I actually throw some money in this and get on the rehab, I'm
not making 5, 7, 10 grand, I might make 30 grand, 40 grand, 50 grand
dude what's the most you ever made on? Come on, keep it real fresh with us.
Alright, the most I ever made and this isn't typical by any means. It only
happened to me one time and it was a it was a... I bought the house for
like $550,000 and I rebuilt the whole entire
thing. We sold it for a little over $3,000,000. So it was a massive
renovation and I made a little over a million dollars. It was a
game-changer but I'm telling you right now, my average one is probably
like 40k, right and I got 10,12 going at any one time so we're rolling through
on that. I got a whole machine and system and but
you know... No stress. No stress. Guys check it out so we're not talking about
flipping paper wholesaling. Right now we're actually saying, "Hey, when you find
that deal that has the bigger money into it, how do you lay that down and when we
were kind of talking about this before Cody got on the plane, he's like, "Kris,
honestly it's best if I break it down in 5 steps. These are the 5 steps that
I do when I take down every one of my deals no emotion. So.. Alright I'm just
going to commandeer the old marker here. So first off, the first step is
probably the most important step because you have to have a plan, right? You got to
know what type of rehab you're going to do. There are different types of rehab
and there's different types of properties you can rehab. So you know, I
recommend leaning in on single-family houses, right? Especially in today's
market I would work in those working-class neighborhoods, right?
So working class, you're talking about maybe like 150, 200? Yeah. So like one
of the things I always think about when I'm doing research before I buy, I'm
always looking at in saying how fast are property selling in this area - right - the
days on market. If the days on market are low, that's a good sign because you want
to be able to buy it renovate it and then get it go in and get paid. So you
got to have a plan, what type of properties are going to get renovate. Alright?
This is something I love about this guy because you know that I plan that
single-family safe zone? So my guess is if you're buying 150,200, you probably
making sure you're always walking in with maybe a hundred thousand or more of
equity so you can put the money in and have a march and to grab your 40 out
when your done. That's exactly it. Minimum 10% return after everything else gets paid
out. Minimum 10. I get more than typically about a minimum of 10. The
other part of the plan is making sure you understand what's going on in that
particular market. So that way you don't over rehab. This isn't some an emotional
thing. This is a very by-the-numbers, non emotional decision and what I see a lot
of people do is they get excited it's their first rehab. So act like they're
going to live they're going to say, "This is my house". And yeah, that doesn't mean you
need granted in this thing. No other comes from the market out granted don't
put granded in that. Don't put...You won't recover that money
yep and speaking of money, let's roll right into the next thing that you want
to kind of get organized and that's your financing. I'm sure they do too if you
found a really hot deal you got to find a way to take that down fast.
You got to probably have a way to like like are you like buying these homes
cash so you can secure the good deal. You order the banks... Almost every one of my
deals is paid for using private lenders. Got you! So I started off wholesaling, does
private lending mean cash? Yes, it's cash. It's just... Think... It's just
it's just not mine. Deep pocket, private individuals that are like, "I'll support
that because they're going to earn money on their money out. Yes and I'm sourcing
good deals that in a good deal will either sell itself or help you raise the
money. They're not really lending me money when I go to borrow money from a
private lender. They're investing in a great opportunity. So I go hunt
down those good opportunities. You got to get your financing together so sometimes
I take a 100% of my private lender money and I just buy the property.
Sometimes I take my private lender money and we work out a little bit better of a
return for them. I put them in a second lien position and I go and get a hard
money loan - yes - if the deal is really good and really juicy, I can do that kind
of financing structure and I can take a hundred grand from a private money
lender and buy four properties with it. Versus one... You get what I'm saying?
Yeah, and dude, I'll just going to drop this to see if you agree. If you find a
really good deal, the money's out there. -Oh- If it's a good deal,
the money's out there. I know some people watch this like, "How would I meet
someone that has money that could buy something cash and back me?" I'm like,
Listen, get out in the game put your fill skis out there and the people out there.
If you have a good deal, the money is always available. To get out there on
social media start networking go to those real estate research groups. You're
going to find the people popping up. And for me my first private lender came by
accident. I was just talking to somebody about my what I'm passionate about which
is real estate and he's like, "Oh you should talk to my dad." Yeah my dad likes
to invest in stuff like that before you know it, little sites where his dad
actually was a Wall Street guy that helped merge the RG reynolds Nabisco
merger back in the 80s and he had more money than he knew what had to do with a
knew what to do with and I didn't even know my buddy -
Wow! Where's the trust fund guy? Yeah and you know we don't talk about that stuff and
so talk about what you're passionate about, you never know and there's
different financing types get familiar with what they are, be smart about it.
Awesome! Moving on. Moving on. Number 3 - Hey guys, by the way, I
really wish we could slow this down because I hope you're getting
like there's a lot of good stuff here that's why I hadn't record the 70 minute
lengthy version. It's in the link below. You just sign up for the webinar and
they're actually going to get you the deeper detailed information but I want
to go this fast because I want to make sure that we can get you what's needed.
That's right and this is the Golden Rule. Buy it right, right? You have to source
good deals and you have to buy the properties right. We make money in real
estate when we buy, right? Not only selling. and it's never more more true and
more important than when you're renovating a house - yeah - right? There's
kind of a rule that I can share with you that makes it kind of easy if you're new.
It's basically take the ARV which stands for after repaired value the value, the value
that the property would be worth if it was fully renovated and sold on the open
market and just take off 30%, right? Just right out of the gate. Just like
basically it's like the 70% rule. That's a good general rule of thumb when you're
first starting out. If you're saying here's this house, it's worth 300,000, I
take off my 30% that drops it down to 200. If I get it for 200, you're in
the ballpark now. Aint. Now if the repairs are reasonable - yes - I know I got
to pay my realtor fees and I got to pay on my money that I borrowed but there
should be something left over unless you're doing like insane rehab like I
have to cut the property in half and bulldoze it, yeah - your first few ones
part of your plan might be. Hey I don't want to do a massive renovation. I don't
want to add an addition. I want to do a lipstick on a pig right and just paint
and carpet make it smell good and move the property right? Those are some of my
favorite renovations because you're in and out so fast but... Alright so you
want to buy it right so that means you have to have your financing lined up so
you're not getting screwed here. This is where a lot of people they get stuck in
bad financing they make all these assumptions like the property's going to
sell quickly and then it doesn't but they're stuck in a hard money loan. I
don't know why but real estate of tracts optimists. So everyone goes to the most
aggressive number. It's probably worth this. It'll probably only take this long.
It'll probably only cost that. It's like actually, you paid more for that. You held
the money longer and you did way more rehab than you wanted, this is one of
those areas... Where I'm a crazy optimist guys. But when it comes to finance and
real estate I'm a realist which means I don't want to be swayed this way or that
way, I also don't want to be the negative I want to seek in time to become dead on
the mark. Boom! I like it. Alright, number 4, we all want to be bosses. Let's
rehab like a boss and what does that mean you have to understand how to go
out and hire good team members because I believe that my job as a real estate
investor, is to bring in the money, source good deals and then put the team
together and manage the team. Now some people out there might be like I like to
hang cabinets. I'm a tinkerer I like to work on things really try to focus on
your highest and best use and return on your time and... aka, don't! Seriously, it's
my nice way of saying just. Oh if you go to Home Depot like every day
I forgot the nails, I forgot the screws. Today we're getting the lighting
fixtures. I'm like dude you can go from putting ten hours in for just being the
deal like for putting it together to 300 hours because you're all so now the
rehabber that's not rehabbing like a boss that's re having like a fool. Yeah
and there's lots of steps in the rehab process, right? There's a lot of moving
pieces. That's why we put the training together because so that way we could
take the time and go in on like how do we source materials who are all the
players what is the flow of the actual process of rehabbing so that way I know
I got to bring this person in and then this next person comes right behind them
and it's like a train moving down the track. We got like a prophet train, right?
I'm working with it. Going down the track and if you get it down right< that's
where you can start scaling your business doing multiple rehabs at one
time. My crews literally move from project to project it's like an
efficient well-oiled machine and you know that's where you having like a boss.
Because I got to tell you we do hundreds of flips every year in going into
markets and finding the best deals and getting them rehabbed, you know my thing
is I'm not flipping for profit, I'm actually I'm running an efficient
flipping model for actually make as much money to Kim as ROI .Because I'm going to hold
on to my homes, I love holding property it's just one of my favorite things to
do and I got to tell you. this whole thing like a boss what he's telling you what
he's teaching you you better be taking notes on it cuz schools the session from
an expert and he knows what he's talking. about. Okay<
fifth and final step. This is the staging and sales stage of a rehab and people
ask me do I have to stage my properties? Yes, unless it's like the lipstick on a
pig Staging is unlike b.ringing furniture in
and making it feel like a home? Yes so that because here's the thing that
you got to understand you want your houses to sell quickly right especially
if you have financing on it and you just want to turn and burn and keep deal flow
going. And so for me I tried selling a bunch of deals without staging here's
what. you find people focus on the weirdest stuff they walk in and they're
like they'll find like the things that you would never think that they would
zero in on - yes - which totally take away their attention on... So you're shifting
the focus by getting that thing staged? Yeah it gives them that instant like
visualization of like I know where I'm going t o it at night. I know what its going to
be like to be in the kitchen with my kids playing in the other room in like
the kitchens, the bathrooms, those are the two main rooms in a house that you
really want to nail down and get done right. I just ask you from your
experience, how much quicker do you accelerate the selling process by
staging? I would probably say 50 to 60% . In fact, it pays for itself so
much that I actually went out and I. bought all my own staging furniture now
I'm doing it this I'm on a scale but I staging 20 houses I'm like I could just
own a couple couches and linens and candles and knickknacks and like books?
And I don't fully, fully stage meaning like and by the way staging could be
anywhere between a thousand to two thousand dollars on these types of
houses. So we're not talking about a ton of money but the impact is huge and
ultimately we want to sell and we want to sell quickly. It's about time, right?
It's about compressing that time and getting your money in and out as fast
you can. That's it. Wow, dude, guys so first of all,
Cody dude, dude boom right there the five steps you taught that was awesome. I
appreciate that for those fees are like, (oooooh too much information...) Click the link below that's why I
asked him to prepare the lengthy video and I'm tell you right now it's worth it.
Because you didn't shoot that alone, you actually have partnered up in Atlanta
with Kenan Anita Corsini so... Freaking awesome flip that show out yep. Flip or
flop Atlanta. So what I did, I'm a I'm a student of success just like
you guys right like you guys are smart for following Kris because you want to
learn from people that are already playing the game at the highest level so
you can get there faster. Yeah. Well even though I've done over a thousand flips, I
still travel all over I hire lots of consultants. I'm like a bit
believer of cutting a check to solve solve a problem and go further. So I flew
to Atlanta ,to my friends Kenan and Eva Kor Sini's operation. I brought my video
crews with us, drones with us and we just had such a blast documenting everything
that they were doing because they play the -game at a really high level- right and I
learned so much about all this stuff and that's there they're going to be in the
training class with me for 70 minutes just power packed intense. So that's
powerful that you got them. So guys, check it out. Listen, I hope this has been
useful for you. We want to talk about how you really play the flipping level learn
from someone who's very masterful at it you know Cody's laid out the steps here.
Your next step is to actually go to the link right now below and I want me to
click the link, I'm looking to register for that webinar. I want to get that
additional 70 minutes of training, if you're hot on this topic and other than
I just want to tell you that my buddy Cody he's got his own YouTube channel. So
we're going to provide that link. I want you to go follow them and check it out I
love what he's doing, I loved that this man is up to do the manners of stunts I'm going to
have about a couple more times. Maybe a couple more videos. But dude, thanks for
showing up today. Thanks for being here. And thank you for partying your wisdom
and your knowledge. -You got it. Anytime. -Hey, guys. It's time for you to go
and make it happen.