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THE ROOKIE PLAYBOOK

 

Tucker Merrihew is a former mortgage loan business owner turned real estate investor and renovator with his own successful podcast – The Real Dealz Podcast. His story began shortly after college, when he grabbed the opportunity to start working in the loan business, working on commission. After two and a half years, he decided to open his own mortgage loan company.

His first big win – and subsequently, what changed his perspective on home renovation and the profit potential within this industry – came around 2005 when he sold a house he had been renting for a whopping $180,000. Once his eyes were opened to this new opportunity, Tucker decided to “throw in the towel” on his mortgage company – giving his share of the business to his partner, and began working as a real estate investor and renovator ever since.

Tucker joins me on the show today to share his story, tips, and strategies to help new investors and renovators learn from his mistakes, get inspired by his achievements and accomplishments, and learn about the tools and strategies currently available that can help you gain traction in your market.

“If you think a little more critically about direct mail than the average investor, you’ll do exponentially better.” – Tucker Merrihew

On Today’s Episode of Flip Talk:

  • Tucker explains why he believes using direct mailers has helped him gain traction in the real estate investing and renovation industry.
  • He explains why it’s important to build your mailing list and rapport with sellers.
  • We discuss why it’s important to ask sellers how much they want to sell their property for instead of simply giving them an estimated figure of how much you want to spend to buy it.
  • He shares his advice for new investors to gain traction and recognition in their local market.
  • He explains how he funded his first investment deal.
  • We discuss why it’s important to start a relationship with investors with a firm set of ground rules, and what can happen when you don’t.
  • He explains how he tackles ground up projects vs. home flips and the profit potential for each type of project.

Tucker’s Top Real Estate Tools for New Real Estate Investors:

  • The Driving for Dollars App
  • High quality direct mail pieces

Tuckers Tips for New Investors:

“Really understand exactly what your business is doing. You can always expand your focus, but you need to be really focused to start.”

Reach Out to Tucker Merrihew:

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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.