Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    How to Make a Million Dollars a Year Flipping Houses
    How to Make a Million Dollars a Year Flipping Houses
    How to Make a Million Dollars a Year Flipping Houses
    Ebook160 pages2 hours

    How to Make a Million Dollars a Year Flipping Houses

    By Jerry Norton

    3/5

    ()

    Read preview

    About this ebook

    If done correctly and with the right system, flipping houses should be a million dollar a year business. After doing hundreds of deals, the nation's most highly sought after expert reveals his exact system to find, analyze, renovate and sell houses earning $25,000 (or more) per deal. From construction worker to millionaire, Jerry not only shows you his comprehensive, step-by step system to flip 40 deals (or more) per year in any market, regardless of expertise or experience, you will also learn how to:

    -Set up follow a step-by-step systematic approach to each aspect of the business
    -Beat the competition to the best deals
    -Consistently find deals each and every month
    -Accurately estimate repair costs on any deal in 15 minutes or less
    -Identify the ideal property and area to flip houses
    -Sell your properties in 30 days or less
    -Renovate a home with no delays even if you have no experience
    -Select the exact materials and the design to attract the ideal buyer
    -Organize and maintain a budget
    -Effectively find and manage the best subcontractors to do all the work
    -Determine the precise after-repair value (ARV) of any deal
    -Find unlimited sources of other people's money (OPM) to fund your deals
    -Put the system and team in place to leverage your time (remove yourself from the model)

    Finally a practical, easy to follow approach to flipping houses. With dozens of examples and case studies, you finally have the blueprint to make a million dollars a year flipping houses...
    LanguageEnglish
    PublishereBookIt.com
    Release dateApr 26, 2016
    ISBN9781456623470
    How to Make a Million Dollars a Year Flipping Houses

    Related to How to Make a Million Dollars a Year Flipping Houses

    Related ebooks

    Business For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      High Income Doesn't = Rich

      Dec 1, 2022

      It’s common to think earning a lot of money means I’m going to be rich'. This is not true - you can’t retire on your income or eat your home, writes Toby Pascoe. Being rich is about the assets you own, and your income is simply what you earn from you

      2 min read

    • Article

      15 Best Foreclosure Sites for Finding Properties

      Jan 6, 2021

      You may remember that foreclosures were a big part of the Great Recession. As the economy cratered, foreclosure filings soared. In the first half of 2010 alone, 1.65 million U.S. homes spun into foreclosure, according to data from ATTOM Data Solution

      3 min read

    • Article

      How to Make a Million (or More!)

      Apr 4, 2019

      Christina Stembel didn't just bend the traditional business model for flower companies; she snipped it in half. Stembel grew up on a farm in Bremen, Ind. (population 4,500), so it's tempting to say that she founded Farmgirl Flowers to get back to her

      15 min read

    • Article

      Why I Love My Whole Life Insurance Policy

      Aug 2, 2018

      At any given family or social event, once someone knows I am a financial planner I always get pulled to the side to answer some burning personal finance question. I can sympathize with doctors. I usually get asked about the market or some stock, but

      3 min read

    • Article

      The Myth of Passive Real Estate Investing

      Jun 6, 2022

      In my financial planning firm, we focus on serving clients in their 30s to their 50s — and we see firsthand how popular the idea that real estate is a way to get rich (relatively) quick is. That would be fine if real estate was a no-brainer passive-i

      5 min read

    • Article

      To Trust Or Not To Trust

      Aug 1, 2019

      To Trust Or Not To Trust
      6 min read

    • Article

      Whole Life Insurance: It's a Swiss Army Knife for Financial Planning

      May 1, 2020

      The stock market may be jittery right now, but my whole life cash value continues to chug along. In my 20 years of providing financial advice, I have found whole life insurance to be one of the most important, yet overlooked financial planning tools

      6 min read

    • Article

      A Decade After The Bubble Burst, House Flipping Is On The Rise

      Apr 17, 2018

      House flipping is at an 11-year high in the U.S. New research shows borrowers with good credit like flippers, and not subprime borrowers, were mainly responsible for the crash. Is another bust coming?

      5 min read

    • Article

      Considering Real Estate? Know the ABCs of DSTs, TICs and 1031s

      Oct 1, 2020

      Investment real estate is the largest asset class in the U.S. behind the equity and bond markets. Millions of investors allocate some portion of their investment portfolio to income properties, including commercial and multifamily real estate, to div

      3 min read

    • Article

      A Tax Guide for Investors

      Mar 7, 2019

      For most people, tax time is about as much fun as taking a bath with an electric eel, and taxes on your investments can be particularly confusing and irksome. Nevertheless, if you make wise use of capital losses and gains, you may find that you owe l

      7 min read

    • Article

      Flip For Fun And Profit

      Apr 1, 2020

      Flip For Fun And Profit
      8 min read

    • Article

      Should You Do Your Own Taxes or Hire a Professional?

      Jan 30, 2020

      For some people, tax season poses little worry, and the process occurs painlessly. Simply populate the requisite fields on your 1040 with info from your W-2, claim the standard deduction, sign on the dotted line and e-file. After that, the check is

      4 min read

    • Article

      How To Retire On $500,000

      Sep 23, 2019

      How To Retire On $500,000
      7 min read

    • Article

      Trapped by Capital Gains? Opportunity Zone Funds Provide a Way Out

      Nov 29, 2019

      It's tough to think of a highly appreciated asset as the problem child in a portfolio. The goal is to choose investments that will flourish, after all. And those strong performers are typically the ones you love best and hold onto the longest. But t

      2 min read

    • Article

      Real Estate Investing in 2021 Comes Down to 5 ‘Un’ Words

      Nov 10, 2020

      Unmatched. Unfortunate. Uncertain. Have you noticed a familiar pattern in some of 2020’s most-used words? When America’s content marketing leaders were recently surveyed for their most-unloved buzzwords of 2020, their top pick was “unprecedented.” Ca

      4 min read

    • Article

      Why ‘Rent vs. Buy’ Is the Wrong Question

      Aug 11, 2020

      In the world of personal finance, there are a handful of disputes that may never get resolved. There’s the question of whether credit cards are dangerous, or whether they’re valuable tools we can all benefit from. And I don’t know about you, but I’ve

      5 min read

    • Article

      How to Build a Diversified Real Estate Investment Portfolio

      Nov 9, 2020

      Recent survey research by National Real Estate Investor magazine indicates that nearly 60% of high-net-worth investors are expected to increase their allocation to investment real estate in the next 12 months. Millions of Americans invest in alternat

      4 min read

    • Article

      How to Create Your Own Pension

      Aug 30, 2018

      Those who don't have a traditional pension -- and that includes most of us -- are frequently envious of those who do. What could be better than a guaranteed paycheck that lasts as long as you live and is unaffected by the vicissitudes of the stock ma

      4 min read

    • Article

      Income Is King

      Sep 4, 2019

      Income Is King
      18 min read

    • Article

      Want to Pay 0% in Taxes? Here’s How

      Aug 23, 2021

      One of the greatest expenses business owners and retirees alike face is income taxes. That’s why a forward-thinking tax planner is so valuable. They can leverage the Internal Revenue Code (IRC) to lower your taxes and help you build wealth. However,

      6 min read

    • Article

      How 2 Physicians Built Retirement Wealth in Real Estate Through a 1031 Exchange

      Sep 3, 2021

      Brother and sister Hassan and Shara (not their real names) came to America as children of immigrants. Their family settled in a suburb of Detroit. Their parents struggled to provide the necessities of life, with their mother staying at home, as was t

      7 min read

    • Article

      Life Insurance: Beyond Just Estate Planning

      Sep 13, 2019

      If you've never said, "I do," or live on your own and don't have any children, you probably think you don't need life insurance. Most people may not realize that life insurance can provide benefits well beyond paying for funeral expenses. You'll wan

      5 min read

    • Article

      16 High-Yielding Monthly Dividend Payers

      Sep 7, 2018

      What income investor doesn't love the frequent payout and reliable cash flow that can come from owning monthly dividend stocks, trusts and other entities? The ability to offset predictable expenses such as mortgage payments and utility bills every mo

      13 min read

    Related categories

    Reviews for How to Make a Million Dollars a Year Flipping Houses

    3/5

    1 rating0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      How to Make a Million Dollars a Year Flipping Houses - Jerry Norton

      84003.

      Chapter 1:

      Introduction to Fix and Flip

      Introduction: Hello, this is Jerry Norton, real estate expert, fix and flip guru, mentor and coach. In this book I’m going to explain my entire Fix and Flip system. It is the exact model I use and my students follow to achieve very high success and very high profits flipping houses. I want to commend you for taking action and reading this book. Before getting started, if you are an audio learner like me, then go here to get this entire book in audio format for FREE.

      Let me tell about myself. I’ve been a full-time real estate investor since 2004. I currently live in Alpine, Utah, with my wife and six kids. I’ve completed hundreds of fix and flip transactions just in the past few years alone. I have a bachelor's degree in business and I am a licensed real estate broker. I sometimes have 10-15 deals going on at a time. My average net profit per deal is $25,000 to $50,000 and I’ve taught thousands of investors from all over the country my proven systems for flipping houses.

      My Story: I started out working in a family business that specialized in utility contracting. I started at the very bottom as a laborer. My job was to dig holes. Those were long and grueling days. I remember coming home from work so dirty and muddy that I had to take my clothes off outside before coming in the house (imagine what the neighbors thought). After years of hard work, I finally took over the family business with a brother. However, I soon found out that I went from working at a job to even worse, owning a job. I was working harder and longer than ever before and it just wasn’t providing the lifestyle (or money) I wanted.

      Then I had one of those pivotal moments in life. I read an article that said, No other industry has created more millionaires then real estate has. And I thought to myself, Why not me too? So I began investing in real estate part-time while still working 50 hours per week in the family business. At the time, I thought I wanted to own rental properties. I happened to know a real estate wholesaler and over the course of one year I acquired 8-9 rental properties from this wholesaler. At the end of that year I took a look at what I had done and I thought to myself, "I’m getting some cash flow and this is great, but where is the money? Where is the real money?" I had a small family and bills to pay and needed money now not someday in the future. I took a look at this wholesaler who had flipped me these deals. On average, he had profited $8,000 per deal that he flipped to me and realized that he made some good money over the past year and that was just with the deals that he did with me.

      Then I did something that if you do too, will separate you from the masses. I TOOK ACTION! I attended a wholesaling seminar and upon returning home, in my first month as a wholesaler, I wholesaled 6 deals and made $52,000! I was sold on wholesaling. In 2005 I became a full-time wholesaler and continued wholesaling several houses each and every month.

      In 2006 the real estate market nationally started to decline. In the market where I was living at the time in Michigan, it really dropped. In fact, values declined so much so that Michigan started attracting out-of-state (and even foreign) buy-and-hold investors. As a wholesaler I saw this as a great opportunity and soon started wholesaling to these out-of-state investors. Before long, I ran into an obstacle. These non-local investors would buy a distressed property from me at a discount and then struggle to renovate and lease the property from a long distance. Often, they wanted to buy more properties from me but wouldn’t until they renovated and rented out the previous one that they’d just acquired from me.

      By default, I started managing the rehabs for these investors. Not because I wanted to but because the sooner they renovated and rented their properties, the sooner I could sell them more houses. I soon learned a valuable lesson about flipping houses to investors: The more value you provide, the more they will continue to buy. Soon I was also assisting them with property management services and eventually began selling completely turnkey properties. I would find the houses, renovate them, put property management and tenants in place and sell the properties done for you. In 2007 alone I sold around 70 turnkey rental properties to investors from all over the U.S., Canada, Australia, the UK, and even Israel.

      I became so efficient at finding, fixing and selling homes that I decided to start doing the same in the suburbs. The difference was now I was selling to end buyers (homeowners) in nice areas and not investors in rental areas. I started earning on average $25,000 net profit per deal. With every deal that I did, I would ask, How can I do this better, faster and get someone else to do the work for me while at the same time making more money?

      Through trial and error and after flipping hundreds of houses, I perfected a system that I believed could be duplicated. Not only did I start to show other people how to follow my system but I also began using it to do deals in other markets all over the U.S. Click here to find out how you can earn a $10,000 finder’s fee for each deal you bring me.

      I’ve since taught thousands of investors my proven system for flipping houses. This system will show you how to flip 40 houses a year, earning $25,000 (or more) net profit per deal. That is a million-dollar-a-year house-flipping business that has transformed my life and the lives of many others, and it’s the system that I will teach you right here.

      **Note: Before I get started, please excuse any typos, misspelled words, incorrect abbreviations, punctuations and/or incorrect sentence structure. In addition to how to create a million dollar-a-year house flipping business, consider them my gift to you.

      Learning Objectives: Let’s review what you can expect from this book. You’ll gain a thorough understanding of how to fix and flip single-family residential properties that earn on average $25,000 (or more) net profit per deal. You’ll gain the skills and the knowledge to immediately begin implementing this exact system in your market. This book is laid out in chapters that are in sequential order. I recommend you read though the chapters in order to fully understand the system and then refer back to specific chapters for further clarification. This book was designed to be hands-on and has examples, case studies and breakout sessions to help you fully grasp the concepts. Like anything, you get out what you put in it. The purpose of the book is to give you my exact model to follow. From this book you will gain the following:

      • A step-by-step systematic approach to each aspect of the business

      • Beat the competition to the best deals

      • Consistently find deals each and every month regardless of what market you’re in

      • Accurately estimate repair costs on any deal in 15 minutes or less

      • Identify the ideal property and area to fix and flip in any market

      • Marketing strategies to sell a property in 30 days or less

      • Perfect the rehab process and timeline to renovate a home with no delays

      • Select the exact materials and the design to attract the ideal buyer in any market

      • Organize and maintain a budget

      • Effectively find and manage the best subcontractors to do all the work

      • Determine the precise after-repair value (ARV) of any deal and any market

      • Find unlimited sources of other people’s money (OPM) to fund your deals

      • Put the system and team in place to leverage your time (remove yourself from the model)

      Throughout this book I will also be giving you several free tools that are critical to your success flipping houses. Watch for links that will allow you to download these tools.

      Importance of Focus: Before we get started I want to talk to you about the importance of focus. Most of you are familiar with the Pareto Principal, often called the 80/20 Rule. The 80/20 Rule basically states that 20% of our actions give us 80% of the results, and therefore 80% of our actions give us only 20% of the results. So let me ask you a question – what if you focused on the top 20% of your actions? What would happen? Obviously, you results would go through the roof. So, as I’ve taken this fix and flip process and outlined it here, I’m going to share with you the top 20% of actions that have brought me the greatest results, that 80%. Really what this is about is focus. I believe that focus is the key to great success and is even more important than effort, experience, or even natural talent. And I believe this wholeheartedly...the key to success is taking action and as you take action, an amazing thing starts to happen. You start to build momentum and as that momentum builds and builds, it’s phenomenal the results that you accomplish.

      Understanding Today’s Market: First of all, I want to talk about real estate market trends. Often in real estate, we refer to the market as either a buyer’s market or a seller’s market. A buyer’s market simply means that supply (inventory of houses) is up and demand (buyers) is down. So if we have more supply (homes) on the market, than we have demand (buyers) in the market, what happens? Price goes down. A seller’s market simply means that inventory (houses) is down, but the demand (buyers) for houses is up. What happens in a seller’s market? Price goes up. What’s important to understand is that whether it’s a buyer’s market or a seller’s market, the concept of finding a distressed property, making improvements and selling it for a profit does not change. The strategies for doing it may change based on the market demands, but the concept of finding a distressed property, making improvements to it and then selling it to a homeowner is a consistent and lucrative strategy.

      Understanding Market Trends: The market we’re investing in will dictate the strategies we implement. For that reason, it’s important that we understand what type of market we are dealing with, not only on a national level but also on a local level.

      Macro: For example, is it possible for a certain neighborhood, city, or even county to be a seller’s market while surrounding areas are a buyer’s market? The answer is yes. A successful fix and flipper is very aware of the market trends and shifts very quickly with the market, both on a macro and micro level. On a macro or national level it’s important to look at the FHA and other federal lending guidelines, federal laws such as the tax credit and other government programs and regulations that can affect the market. Also, the economy, interest rates, unemployment and job growth greatly affect

      Enjoying the preview?
      Page 1 of 1