Unlike many other Red Mane students these guys were already accomplished flippers having completed 4 flips before joining my program (3 apartments & a house in Brisbane).
But I want to share with you their latest flip which they shared on our Red Mane Coaching session last night for a couple of reasons:
- It was a Seller JV deal in Brisbane which they put in ZERO dollars of their own money & walked away with a $102,000 profit
- It was a termite infested property that they estimated cost about $30,000 to rectify the termite damage alone
This is not their first no money down deal!
They’ve realised the power of establishing strong networks with the likes of Money Partners, JV Partners & Seller JV Deals.
Last night they said they could have made more by buying the property & using their own funds, but they preferred the option of a Seller JV & Money Partner so they could do a ‘No money down deal’
They also said they wouldn’t have taken on a termite infested house as their first project & of course prefer smaller easier tidy-up cosmetic flips (don’t we all). But the confidence to take on a big job was because of their trades team.
Well done Simon & Carly & thanks for sharing with the team!
