Flipping

I'm like, this is not stimulating at all.

And then I remember having conversations with people, and they're like, you have a PhD, and you're doing what? You're flipping houses? And they looked at me like I had three heads.

And it was very like... all of that confirmation and acknowledgement that I got from, you know, having this job for the Navy, like people were like, oh, you're doing great.

And you're, I'm getting all these accolades.

And so while I'm not going to ever call myself like an expert, I at least want to have enough fluency that I can speak the language.

So if I hire somebody, I know whether or not they are doing a good job and if they know what they're talking about.

So like when I first started Flipping Houses, I hung out at the job sites, not because I wanted to do the work, but because I wanted to see like, hey, Why are you putting the shower pan like that? Like, show me why you hung the drywall that way.

And that way it allowed me to screen people more appropriately, which by the way, this gives you a huge degree of confidence when you do delegate that you know what you're talking about.

Tried a couple other businesses, and then eventually, um, I was working at a bank, uh, and I had this client coming in.

He was always bringing these big checks, you know, and I'm like, "Man, what do you do?" And he's like, "Oh, I flip houses." So I said, "Okay, I'm gonna, I'm gonna flip houses," you know? So, so anyways, I got into house flipping, and I did that, like, really successfully for about 12 years, and eventually grew that to...

I was in three different states.

I was California, Texas, Florida.

And, and it allowed me to, you know, I still had to go check on properties and But he was running point on, on that.

So, um, you know, I was, so I was flipping houses to generate cash and then I was putting it into these multifamily deals as a, as a limited partner and

raising capital at the time.

No, at that, at this time, no COVID happened.

And, uh, once COVID happened, everyone was like, look, I got to buckle down and focus on my, my business or my job or so everybody kind of dispersed.

And that left me just – well, I was like, I still want to invest in these, so I'm just going to do it with my own money.

As I generate funds flipping houses, I'm just going to – I believed in it.

I love apartments, still do, still have a bunch of them that I own.

Hey, it's Jerry Norton.

Welcome to the Wholesale Hotline Podcast and the Flipping Mastery Breakout.

We wanna know how we're doing, so please leave a comment and give us a rating.

So when I think about a real estate transaction, there's really three people that have to be part of every single deal.

Okay, so think about developmentally here.

Like we learn things and then we progress.

Flipping is very, very difficult to scale, why? Every flip you do, you're out of business again.

Why? Every flip is its own business because every flip is what? Unique and different because every house is unique and different.

And again, I'll apologise for the laptop and keep looking at it, but...

And one of the things we're going to talk about today is the theory on this renovating flipping houses.

I mean, we got that many comments, didn't we? Saying, A, we don't know what we're talking about.

Our information is wrong.

And it very well might be.

But, I mean, I want to debunk some of these things, okay.

So the first thing I want to sort of throw out there is that the overall feedback was that we didn't really know what we're doing and we're sort of anti-flipping houses.

Yep.

Maybe flip them like this is a...

What were those shows? House Flipping or Flip My House? Flip My NBA Franchise.

That'd be a good show.

I'd like to see that.