Alex introduces two fellow wholesalers and rehabbers on the show, Gene Schroeder and Angelo D’Alessandro from Bank On It. Both Gene and Angelo have been flipping houses since 1997 and have sold well over 1,000 properties since. The Flipping Guys share their knowledge on what makes a successful real estate wholesaler, all the way from tips on finding the right partners to sharing a property case study.

Key Takeaways:

• Gene and Angelo have sold well over 1,000 properties dating back to 1997.
• What advice do the guys have on getting into the right partnership?
• What’s currently working for the guys?
• The guys buy about 15 properties a month.
• Where do most people fall short on? Consistency – you have to do it daily.
• Don’t burn bridges.
• Alex talks about the duplex he wholesaled to Gene and Angelo.
• Why did Gene know that this particular property was going to be in his personal portfolio? What was so good about it?
• Use the 1% rule. Rent should be, at minimum, 1% of the purchase price.
• What lessons did they learn from this particular duplex?
• How do they find people who will not bail on the renovation job halfway through?
• At what point should you start to look for a mentor?
• Final piece of advice from the guys? From day one, you should think about longevity.

Mentioned in This Episode:

www.flipempire.com/

www.bankonit.com/

www.thoseflippingguys.com/

Episode 2 of Those Flipping Guys:

Tweetables:

“The most important thing that a new investor needs to do is know what they can sell.“

“The problem where most people fall short, not even in real estate investing, is consistency.“

“We use a formula – the 1% rule. The rent should be at the very minimum 1% of the purchase price of the property.“

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