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10: Competition, Smompetition.  Buy Houses on the MLS Anyway w/Mark Ferguson

10: Competition, Smompetition. Buy Houses on the MLS Anyway w/Mark Ferguson

FromFlipping Junkie Podcast with Danny Johnson


10: Competition, Smompetition. Buy Houses on the MLS Anyway w/Mark Ferguson

FromFlipping Junkie Podcast with Danny Johnson

ratings:
Length:
47 minutes
Released:
Nov 30, 2015
Format:
Podcast episode

Description

Mark Ferguson fixes and flips 10 to 15 houses a year and owns 15 long-term rentals.  His grand plan is to purchase 100 rental properties by January 2023.
 
Mark tells us about how he got started working with his dad, who is a Realtor and house flipper.
 
In this episode, Mark shares his strategies for competing for properties on the MLS.  Key points include:
 

checking for new listings multiple times a day
getting out to see each house and make an offer within hours
have assistant in his office draw up the offer contract and send it to him to docusign and then forward to the listing agent

 
He was also gracious enough to share his strategies on making his offers stand out by making them stronger.  Some of them include, increasing the amount of earnest money, remove any contingencies (including the inspection contingency) and offering to close quickly.
 
Mark is smart because, even though his market is crazy hot right now as it is in many other places around the country, he has kept to his buying criteria.  Others stray from their buying criteria and start to offer more for houses in order to get more deals. These are the same people that end up going broke when the market changes. 
Released:
Nov 30, 2015
Format:
Podcast episode

Titles in the series (100)

Flipping Junkie is a podcast for people addicted to flipping houses and real estate investing. Danny and Melissa Johnson started flipping houses over 15 years ago and have chronicled their journey to help house flippers both new and experienced. Subscribe for weekly episodes featuring interviews with people just getting started as well as big name investors like Brandon Turner of Bigger Pockets and Justin Williams from House Flipping HQ. The podcast covers a range of topics like what is working today to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determining repair costs, finding contractors and managing rehab crews, what improvements to make and how to quickly sell your houses for big profits and so much more. Don’t worry, we won’t leave out the serious mistakes that you need to avoid when get starting and growing your real estate investing business. Join Danny Johnson to get the inside scoop on how to get started and how to stay successful to create true financial freedom for yourself and your family.