The Fix and Flip Investor Mindset

January 27, 2016

 

 

He looked so relaxed. At age 48 my friend Keith had accomplished something few real estate investors could ever imagine.

 

In a five-year span he fixed and flipped over 1,200 houses.

 

The amazing part was he did it completely under the radar. He shied away from any media attention and would never consider doing a reality TV show. His company didn’t have a website. And to this day he still doesn’t have a Facebook or Twitter account.

 

It's the reason I'm only using his first name in this story.

 

My friend, who I have lunch with regularly, is now financially free and comfortably anonymous. You would think someone with that much success would be on the real estate seminar guru circuit. But that’s not his style.

 

Keith says his faith keeps him humble. And grateful. Certainly he’s been good to me.

 

In 2009 he made me his protégé and taught me the business of fixing and flipping houses. At its peak his operation had full-time 12 employees and over 60 properties in some phase of acquisition, rehab or sales.

 

I started out working for him as a project manager. Eventually I was hired to list his houses for sale (I was a licensed Realtor at the time and still am today). In time I would learn enough about the market and the process of fixing and flipping houses to join forces with my partner Manny Romero and start our own investment business.

 

Even after I left Keith’s company in 2010 he continued to support me, both professionally and personally.

 

On this particular day I sat down with Keith at a local sports bar and grill and told him our plan to create Fix and Flip Hub, a website and coaching program with a mission to teach aspiring real estate entrepreneurs how to fix and flip houses in their local real estate market.


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I explained to him that many people aren’t as fortunate as I was to have such a wise and gracious mentor, and that my goal was to pass on what I had learned from him to others.

 

To begin, I wanted to know why he believed he was successful and what specific skills were required to build a thriving fix and flip business. Keith graciously answered my question and what followed was an in-depth conversation about the mindset and makeup required to make money rehabbing one house at a time or 30 of them all at once.

 

It all starts, he said, with identifying the finders, minders and grinders on your team.

 

So what does that mean?

 

And what if you’re the only person on your team right now?

 

Well check back here in a few days and I’ll elaborate on what Keith told me that day. I’ll share his thoughts on finding deals and getting the cash to buy them. Finally, you’ll learn how to identify what you’re strengths are and how to successfully apply them.

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