Investing In Real Estate With Lex Levinrad

Do you want to learn how to wholesale real estate and flip properties? Join Lex Levinrad on the Investing in Real Estate Podcast and learn how YOU can get started flipping houses today. This podcast is full of ACTION PACKED information and CONCRETE ACTION STEPS that you can start taking TODAY to learn how to start investing in real estate and flipping real estate. Join Lex as he talks about EVERY TOPIC related to INVESTING IN REAL ESTATE including wholesaling, locating deals, finding properties, flipping properties, hard money lenders, online auction sites, marketing for motivated sellers, building your cash buyer lists, deal structuring, fixing and flipping, buying and holding real estate long term and rental properties. Lex has trained thousands of students from all over the world how to invest in real estate. Lex has personally flipped over 1,000 houses and he can teach you the one thing that everyone is looking for - FINANCIAL FREEDOM. Listen to Lex interview some of his successful students who have quit their jobs and now flip houses for a living. If you want to get MOTIVATED and INSPIRED by people who are actually flipping houses RIGHT NOW, then LISTEN TO THIS PODCAST. Lex will also introduce you to some of his real estate friends and he will interview some of the biggest wholesalers and flippers in the country. You will learn from the experience of real estate investors who are doing deals every single day, investors who are literally doing thousands of deals. Listen to this podcast so YOU can learn how to achieve massive results investing in real estate. If you want to learn how to flip houses for a living and maybe even quit your job then SUBSCRIBE TO THIS PODCAST.

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Building Wealth One House At A Time

Updated 6 months ago.

On this podcast episode I talk about creating wealth in real estate, by building wealth one house at a time.

The example that I use on this podcast came from our Fixing and Flipping Coaching event this past weekend. I was reviewing potential fix and flip deals with my coaching students and we were evaluating deals together to find houses that would make good fix and flips.

The specific house that I discussed with them is a $180,000 house that can be purchased for $115,000. The asking price on the house is $120,000. It is a nice house in a decent neighborhood that was a foreclosure and is being sold by Fannie Mae. The house needs flooring, kitchen, bathrooms, and interior and exterior paint. I am guessing that to fix and flip the house the repairs could be around $25,000.

We use our fixing and flipping calculator which you can use by visiting this page:

https://www.lexlevinrad.com/rehab-property-calculator/

For a fix and flip, the spread is a little tight and the house will only generate a profit of around $10,000. That seems like a lot of work for not that much profit.

However I show students how that same house purchased as a buy, repair, rent and refinance makes a lot of sense. If we are repairing the house to rent it, then the cost will be only around $15,000 (instead of $25,000 for a fix and flip).

The numbers for a BRRR using my financing if I was lending for the hard money loan are:

Purchase $115,000
repairs (rental) $15,000
closing costs etc. $5,000

down payment $15,000
loan amount $100,000

Total cash out of pocket $35,000

Total cost $135,000

Appraisal value $180,000

The bank will be willing to lend 75% of that appraisal value (which is $135,000)

From that $135,000 use $100,000 to pay off the hard money loan. That leaves you with $35,000 cash. That is the same $35,000 that you laid out to buy the property.

That is how the Buy, Repair, Rent, Refinance method works. And it's the easiest way to create wealth by building wealth one house at a time.

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