Flipping Houses Tip from Real Estate Investor Terry Kerr

From http://REItips.com - jp moses interviews local investor Terry Kerr about the business systems he's got in place that helped him do over 40 successful real estate investing transactions last year. Live from Gus' Fried Chicken in Memphis

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[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

[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).

[TheREIMaverick]

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

[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

[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]

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!