September 4, 2024
Something I’m Reading
I’m reading “Hyperion” from Dan Simmons - a classic sci fi book thats highly rated. It’s excellent, though it took me a little while to get into it. Now I can’t put it down.
Something I Photographed
Gym is empty at the hotel at 7am… 😂
Something I’m Excited About
Spending the week at Disney World with the family has been awesome. We’re doing the VIP tour Saturday so I’m really looking forward to that!
Something I Recommend
I learned the hard way that managing tenants can be a nightmare without the right tools. That’s why I now use TurboTenant. It simplifies everything from background checks to credit reports, so I can avoid problem tenants from the start. Plus, it helps with marketing, custom leases, and automatic rent payments, making my life as a landlord so much easier. Don’t make the same mistakes I did. Use code Brandon10 for 10% off at TurboTenant.com/betterlife."
One of the most powerful tools in real estate is something surprisingly simple: a handwritten note. In a world full of emails and text messages, a personal touch stands out and gets results. Whether you're looking to buy your next investment property or reach more potential sellers, Ballpoint Marketing handles it all—from building targeted lists to crafting and sending personalized notes. Their 'done for you' service has been a game-changer for my business. For up to 15% off, visit BallpointMarketing.com/BetterLife. I don’t earn anything if you buy—I just believe in the power of their work.
Some Thoughts to (Hopefully) Make Your Life Better
Flip 2, Hold 1: A Cool Hack for Building Wealth with Real Estate Without Much Money
This is a cool strategy for anyone who wants to go “full time” into real estate fairly rapidly… while scaling your income AND your cash flow at the same time.
In the world of real estate, you often hear about two types of investors: those who flip houses and those who buy rentals. But why choose? What if you could do both and build a powerful wealth-generating machine? That’s the essence of the "Flip 2, Hold 1" strategy—a game plan that allows you to flip houses for immediate cash flow and use that cash to build a rental property portfolio that grows your wealth over time.
Here’s how it works: The idea is simple yet incredibly effective. You flip two properties, and with the profits from those flips, you cover your living expenses and put a down payment on a rental property. You repeat this process, growing both your income and your long-term wealth simultaneously.
Let’s break it down with an example. Suppose you make $40,000 on a flip. That’s your paycheck, covering your day-to-day living expenses. You do another flip and pocket another $40,000. But instead of using that money to pay bills, you use it as a 25% down payment on a $160,000 rental property in a solid Midwest market. Now, you’ve not only earned your living but also invested in your future, creating a stream of passive income that can last a lifetime.
And here’s the best part: this strategy is scalable. Maybe you start by doing four flips a year, living on $80,000 and investing $80,000 into rental properties. That’s a solid plan. But what if you could ramp it up to eight flips a year? Now you’re living on $160,000 and investing another $160,000 into your portfolio. The more you flip, the more you can hold, and the faster your wealth grows.
This strategy isn’t just limited to single-family homes either. You can apply the "Flip 2, Hold 1" approach to bigger properties like apartment complexes, mobile home parks, or even self-storage units. The concept remains the same: flip for income, hold for wealth.
Why does this work so well? Because flipping houses can provide immediate cash flow, but it’s the rentals that build lasting wealth. The key is to find a balance between the two—flipping enough properties to fund your lifestyle and your investments, while holding onto the best opportunities to secure your financial future.
The "Flip 2, Hold 1" strategy is all about playing the long game while still enjoying the benefits of short-term gains. You’re not just building a real estate business; you’re building a real estate empire, one flip and one rental at a time. So why choose between flipping and holding? With this strategy, you don’t have to.
(P.S. How are you going to fund these deals? Check out my real estate investor loan company www.BetterLifeREF.com - we can fund your flip AND your rentals! :) )
Love you!
Disclosure: “Some of the links in this post are affiliate links, which means I may earn a commission if you click on the link and make a purchase. However, please note that all opinions expressed here are my own and I only recommend products or services that I have personally used and found valuable."