November 26, 2018

Episode 21: CORE UPDATE AND A CONDO FLIP WITH LEGAL TROUBLE THAT PRODUCES A FIVE-DIGIT PROFIT

Podcast Episode 21

Brian and John talk about an investment property flip that they closed on earlier this year. This property was quite unique. The sellers approached the guys after receiving a mailer and had a large, modern condo they wanted to sell. It was smooth sailing up until the day before the deal was set to close.

Comment below and let us know what you think about today's episode and don't forget to rate us on iTunes!

This Episode is Sponsored by

Core Rentals Logo

Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit CoreRentalsOhio.com today to have the day-to-day operations of your rental property handled by professionals.

Covered Topics:

  • Taking time off work.
  • Flipping the condo that had a lawsuit against the builder.
  • The risks of buying such a condo and hesitation from lenders.

Show Notes:

  • 00:42 - Recent happenings.

          - The benefits of taking time off from work.

          - Delegating responsibilities.

          - Two houses that the guys closed on last week.

          - Selling a house to an investment company.     

          - Other properties that are in contract this month.

          - Security camera theft.

          - Filling the Acquisitions Manager position.

  • 08:29 - A flip that the guys closed on a couple of months ago.

          - Sending mailers to absentee owners.

          - Determining the price of the condo.

          - Getting a call from the investor bay before the deal.

          - Making the deal happen.

  • 13:58 - Listing the condo online.

          - A lawsuit against the builder of the property limiting the number of willing lenders.

          - The risk of raised rates from the HOA.

  • 16:18 - The final stages of closing.

          - A second lawsuit being filed.

          - Why the sellers reached out to Brian and John in the first place.

          - Making profit after all the adversity.

For more information, check out our website and reach out to us at TakeActionRealEstate.com or follow us on Facebook

Topic Takeaways

  • Take regular vacations to rejuvenate yourself and help your business.
  • Help buyers become aware of your listing’s disclosures.
  • Have a network of lenders to reach out to so you can find the right one.

Tweetable Quotes

“It can be difficult, and sometimes it can seem like you have to be [at work] every minute of the day, but try to get out and give yourself some time to refresh and rejuvenate.” (Tweet This!)

Brian Rightler John Horner Core Developements

Welcome to the Take Action Real Estate Podcast! 

Our hosts, Brian and John, created Take Action Real Estate: the website, podcast, and blogs to help YOU. We want to share our experiences and knowledge and help you get started without making the same mistakes we did.

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