Flipping Houses – assignment fees should be BIG!
http://www.youtube.com/watch?v=053Z2YpzZXE
Don’t believe the hype! Just because the economy and housing market is down, doesn’t mean we can’t still make a ton of money flipping houses. Don’t EVER think that you have to settle for $2,000 flips… ever. My rule of thumb then, is my rule of thumb now. I start at $10,000 per flip, and if possible, go up from there. To combat the slow market, you need to acquire, or contract, on property at a lower % of ARV. Go 30%. And don’t ever feel guilty about making a lot of money. Play to win… and that means getting rich!
Andrew Massaro, The Maestro Flipping Houses and Taking Names… Since 1905
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maestro good stuff thankyou very much ok see you on the other side ok
this video just made smile all giddy like! great stuff Andy. thanks for the tips, motivation and reminders. we’re in it to win it. $10,000+. got it.
Dude, I totally agree with you. $10k for an assignment fee should be normal; and I always shoot for that or more. If there isn’t enough money in the deal, I let it go. No time to waste, just move on to the next deal.. there are plenty!
One tip I learned from another investor is to offer a higher reward for a good deal. This guy offers a $10k wholesale assignment fee just for finding a good deal.
He gets the first phone calls from other investors on deals; and they all know he wants a steal. The investors know what he wants, and it keeps him from having to deal with crummy deals and saves him LOTS of wasted time!
Anyway, nice video. Thanks for sharing!
-Ryan