Flipping Houses Tip from Real Estate Investor Terry Kerr

[TheREIMaverick]

I just had to comment, great job on what you are doing! I like your video! to your success!

[DanTheRealEstateGuy]

Nice Example of Repeat Buyer Business. I have investors that have purchased 4 and 5 properties from me as well. Systems are very important to this type business to do Volume. DanTheRealEstateGuy

[Ibuysellinvest]

Great Video I agree with you on this !!

[RLJ93727]

Excellent real estate video

[scoob0792]

Be careful buying anything from Terry Kerr. The homes he sells are of the worst possible quality and you'll find yourself redoing extremely poor workmanship.

[scoob0792]

Update to Terry Kerr and Ray Porter property: Entire roof had to be stripped down to wood and replaced ($30K), entire building facade peeling off ($5K), discovered no insulation in walls between condos (who knows how much $), Terry Kerr claims he is bankrupt, no doing the same garbage under new name of Mid South Homebuyers. Beware!

[buyhousesinkc]

@scoob0792

Dude that sucks. If you're still looking to invest, me and my partners wholesale investment property the right way. Which is to say that we actually buy our properties, do the renovations, find the tenants, place under management, etc.... Oh yeah, and here's the BIGGIE. We stand behind our work 100%. We have an unconditional 90 day warranty on every house we sell! NO JOKE

[MillionaireCoaching]

Fried Chicken and Real Estate, an awesome combination.

Good video tips, way to go guys!

[PropertyLeadsNow]

If you can grab them at a deep enough discount, rehabbing and THEN wholesaling is a great niche! We try to leave plenty of room in our contract assignments.

[4realestateleads]

This is awesome! I love how you talk about finding a niche and going with it, I completely agree! You can't try and tackle the whole real estate world, find what you are good at and become the best, just like you said. You guys are great!

[FinanciallySound]

Yes, it's that FREE e-book Marc Hrisko of Marc Hrisko International is giving away right now on his website (at least he was this morning when I downloaded it). It was $47 but he said he'd give it away for FREE for a few days. You might want to go grab your copy if its still on his website. It's seriously the best FREE millionaire advice I've read in years. Anyway, I hope this helps you.

[DancingSpiderman]

Thanks for putting this info here. I got my free E-book.

Just scanning it, looks like very key, useful stuff.

[propertybuyer]

Sounds like Terry has got it figured out.

You can make money in any market as long as there are people who need to sell, and there are people who want to buy. Everyone needs a place to live, so providing housing fulfills a basic essential need.

If you buy and sell within a relatively short time span, the market values do not change very much so you simply adjust your gameplan to the current conditions and keep doing what works for you.

And never stop your buying machine!

[wheresthebottom]

This guy is great.

[LeftLiberalSoCal]

Real Estate "investor". Ha! What a joke. These "investors" are complete suckers. Who WASNT a "Real Estate Investor" in 2005? This kind of "business" produces NOTHING.

[FlippingHomes]

LeftLiberalSoCal,

It's funny you'd say that - I just had lunch with Terry again and he's still doing quite well with the same biz model - actually better than ever.

Sure, he's had to make a few tweaks to adjust for a changing market. But he's getting better deals than ever & passing better deals along to his buyers. He's actually doing a lot more volume & making better profits than ever. He did over 80 last year (07) and is looking to do 100-150 this year. Same model, slightly tweaked. :-)

[LeftLiberalSoCal]

There is an old saying here in Los Angeles: "image is everything". That is until people see whats behind the image. In other words, people can pretend to be anything they want. Especially at a business lunch. It makes NO SENSE! Banks want 20% - 25% down CASH + perfect credit and you CANNOT BORROW THE 25% anymore (it shows up)! Americans are BROKE beyond belief! They dont have 25% down! Where are the buyers? The prices are STILL FALLING. Now is a good time to jump on the Real Estate bandwagon??

[FlippingHomes]

LeftLiberalSoCal,

Well you've clearly already made up your mind that this thing doesn't work anymore. I don't see a need to try and convince you otherwise. I can only say that Terry and I are men of integrity, and we're not making stuff up. Have no reason to.

But thanks for watching our video anyway, and for taking the time to share your feelings.

My best,

...jp

[mercuryfunding]

LeftLiberalSoCal,

You are a complete idiot, skeptic. I just met Terry at a dinner after a MIG meeting. I am currently buying 5 houses every month doing the same thing. He took the time to explain his program then turned the table and picked my brain. Never to proud to keep learning. Maybe you should go learn and actually find your path before discounting others. Go McCain/Palin!!!

[y2knoproblem]

The market is much different in the mid-west. Here there was not a housing bubble nor a bubble burst. Just normal appreciation and slow downs.

[LeftLiberalSoCal]

The mid west is pretty large. Which areas in particular are you talking about?

[y2knoproblem]

From North Dakota to Oklahoma. Parts of Texas still have rising home values, although, I suspect it will slow down soon. I know the rental market is booming in Iowa and Nebraska. Of course, in any market there is opportunity.

[sctullie]

Montgomery Alabama is still a great place to invest in real estate.

[TheSignBandits]

Very informative... very impressive. Looks like you set this up properly!

[zouglounet]

hey guys and girls my name's alex and i need a little help please, i'm interssted to buy a four stages building and rent it to people but the problem is i don't know how please can anyone tell me how to buy a building in down payment method then rent it, and how much it can cost me

thanks i appreciate your help

[54spiritedwill54]

Good one, sounds sooo easy...amazing to hear your don't check the properties before buying.

[johnbenson704]

Hi,

This is some good work.

What do you recommand, buy a flip from Court auction? Buy from Bank? Or hire an agent and let him do the search?

P.s. "I am looking for a house that I can work on it, and has a value."

[FlipItBig]

Flipping to landlords. Heck yeah! Is there a limit on the number of houses you sell to one specific landlord?

[FlippingHomes]

Besides any limits the landlords may have themselves, Fannie Mae has a 10 limit. But you just have to use lenders wo won't sell their stuff to Fannie Mae (i.e. small, local banks work well).

[buurrr]

hi how are you do you know if he has any yime to talk I am a beginner flipper and I had a couple of questions and that is how do i find the right house for me that dosent require a lot of work but enough for me to make a profit

[wendy2212]

You have to work for money, period.

[wb242]

do you have any links to find hard money or private money lenders for up in comming investors?

[SuperSerialDave]

Thanks for this video. As said earlier, the quality, especially the sound, is garbage. But its great info.

[cmeduck]

I'm surprised that you didn't say how much under retail you're selling to the investors for. If you're getting hard money loans for each of these to fix up, why is it so important to sell fast and lose out on profit by selling for less?

[FlippingHomes]

The faster you can turn the deal, the faster you can pocket your profit and move your resources into the next deal. It's fast nickels versus slow dimes. Also hard money is a short term kind of loan - typically 6 months or less, with really high interest rate. It's in your best interest to pay it off sooner rather than later most of the time, or the payments quickly cut into your profit.

Great question!

[TheNoTown]

If someone owns a house, sould they sytart an LLC and put the property in the LLC's name? When should a person do that?

[dropdoubt]

does terry keep the contractor on staff? or does he use a few contractors and get quotes?

[FlippingHomes]

He tries to stay consistent with who he uses as much as possible. But they're not officially employees. Must most all of the work they do, they do for him.

[wjv4me]

Good one, sounds sooo easy...amazing to hear your don't check the properties before buying. Must be a blazing market in Memphis. Thanks for the upload.

[FlippingHomes]

It's really much more about the systems you have in place than the market. Actually the market's pretty slow. But Terry's got a machine in place.

[ce5k]

Perhaps you can shoot your next clip / interview at a downtown bus terminal or possibly in a nightclub at closing hour... Seriously though, the content and interview format is good, but the credibility of the message is questionable due to the poor camera work and choice of noisy venue.

[FlippingHomes]

We just like to keep it real. We're not a production company. :)