Are you thinking about becoming a professional house flipper? Investing in real estate to buy homes for profit isn’t as easy as it sounds. It can be a very lucrative niche, but you can also lose money if you don’t find out information about the ins and outs of the business. Educating yourself in the real estate market is important for you to make the right decisions, make the best deals, and establish solid relationships with lenders, contractors, and sub-contractors.
On today’s show, I’m talking with Kris Ontiveros a seasoned home flipper who is the owner of AZ Flip Guys in Arizona. He brings with him a wealth of experience and knowledge about flipping homes, which will enlighten those of you who are interested in real estate investing and rehabilitating properties. Kris will share the story of his success in this niche, let you know the difficulties of this business, give you valuable advice if you’re venturing into this field, and he’ll touch on a variety of topics like do-it-yourself rehabbing, and the value of building relationships in the real estate investment arena.
“Making homes in the lower end market absolutely beautiful makes them very easy to sell.” – Kris Ontiveros
On Today’s Episode of Flip Talk:
- Kris talks about his first experience in flipping where he learned a valuable and costly lesson.
- How did he get his deals when he first entered the house flipping world?
- Kris tells us about his favorite niche and why it appealed to him.
- What is the methodology he uses to acquire projects?
- Kris expresses his views on working with wholesalers, lenders, and numbers.
- He tells us his thoughts about buying properties that he hasn’t seen in person.
- Kris is candid about what he would do differently if he were starting out today knowing what he knows about the business.
- We discuss the useful tools in his business that he wished were around when he started out.
- He talks about the benefits of working with a mentor who has experience in the real estate market.
Kris Ontiveros’ Advice to Real Estate Investors:
- Overestimate and overborrow. It’s best to have extra money left over to pay back to your lender rather than having to borrow more money especially when you have multiple deals you’re working on.
- Know your numbers – flipping is nothing but a math equation and if you calculate properly you’ll make money.
- The quicker you turn a deal the more money you make.
Mentioned on the show:
- Rich Dad Poor Dad by Robert T. Kiyosaki
- National REIA
- Entrepreneurs’ Organization
- Robyn Thompson
Connect with Kris Ontiveros:
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Join us every Wednesday for a brand-new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens on real estate investing and house flipping. Email your questions to Topics [at] FlipTalk [dot] com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, or visit our website.