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Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
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Tuesday Feb 18, 2020
Tuesday Feb 18, 2020
Flipping real estate has been a hot topic for the past few years as a way to make money. Some flippers find success, while others struggle to survive. What are they doing right, wrong, or different? Today, Clint Coons of Anderson Business Advisors talks to Tucker Merrihew, owner of TTM Development Company and host of the Real Dealz Podcast. Tucker describes systems and processes he developed to become a successful real estate flipper.
Highlights/Topics:
- How did Tucker get started in flipping real estate? While starting and growing a mortgage company, he flipped properties on the side to make a profit
- Why did Tucker start TTM Development in 2008? Mortgage markets imploded and real estate changed; created company to buy REOs from MLS and at auctions, as well as negotiate short sales to avoid foreclosures
- What has changed at auctions since then? Advances in technology and additional service providers have made it more competitive and difficult to get worthwhile deals
- What is direct-to-seller marketing? Tucker takes out the middleman and works directly with those who own real estate
- What’s the key to successful marketing that generates the biggest return rates? TTM Development’s marketing stands out from its competition by trying, testing, tweaking, and retesting ways to be different
- Marketing costs money, so how does Tucker’s company make money? Three buckets:
- Long-term Money: Redevelopment/new construction
- Medium-price Point: Renovation
- Wholesale: Buy property, then sell it for various reasons to generate profit
- How does Tucker’s team determine where to drop mail? Driving 4 Dollars (D4D) App
- How can real estate flippers raise money to get their business funded? Internal capital, private money, and hard money
- How and where to find good contractors? You get what you pay for, if you value cost over quality, pick one or the other or something in the middle
- What will impact the real estate market in 2020? Supply, demand, and interest rates
- What are must-dos for new investors? Understand it’s a marketing business first and real estate business second
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