#194 with Jon Schoeller: Scaling to 150 Flips For Part 2 & His Lessons Learned

Millennial Millionaire Real Estate Podcast

English - March 16, 2021 20:30 - 48 minutes - 88.9 MB - ★★★★★ - 56 ratings
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Previous Episode: #193 with Jonathan Farber: What's New & What I'm Focused On

Next Episode: #195 with John Cohen: Scaling to 4,000 Units Through 27 deals For Part 2

In this episode, Jonathan Farber brings back Jon Schoeller for his second episode on his journey from moving into real estate entrepreneurship to flipping over 150 houses with his partners using private money. John is a flipper and long term investor based in Charleston, West Virginia. In this episode, we dive into topics like: challenges faced by an established flipper, how a mature flipping operation is run, should a new investor flip or wholesale, and more!

Top Takeaways:

Biggest challenges for a scaled flipper - 13:15 - 15:00

Once you’ve settled on a system that works, the only remaining struggle is keeping it working
Anything that adds friction can be optimized out, bu that leaning takes effort
As you grow your options grow too and staying focused is harder

The model for a mature flipping operation - 15:45 - 19:30

Once you’re established in an area, your inbound marketing will grow and leads will flow
Subcontracting the acquisitions team means you only pay for what you use
Even with the intent of flipping, it’s smart to leave your exit strategies open for maximum gain

Whether beginners should flip or wholesale - 20:45 - 23:30

Wholesaling is usually the way to go because of the low capital investment
Flipping effectively is often its own full time job, so if you want to keep your W2 start elsewhere
Much of the tasks for wholesaling can be done in spare time outside a normal job

How to bring value to Jon Schoeller:

Check out his Youtube channel and investing Discord

Resources:

Millennial Millionaire Real Estate Podcast #13 with Jon Schoeller: Veins are Popping and Value Add Central

oncehub.com/scheduleonce

rehabvaluator.com

Social Links:

biggerpockets.com/users/JonSchoeller

@thefrugalinvestor

Jon Schoeller on Youtube

patreon.com/itsmorethanmoney

Connect With The host, Jonathan Farber Here!