Thought about flipping in Denver but not sure where to start or if you can be successful in a competitive and changing marketplace? Our ELEVATE Your Flip course will give you the real-time keys to success from a local investor who is actively flipping.
The guest for this course is Derek Marlin. He is the Founder of ELEVATION which specializes in property re-development (Fix & Flip), consulting, wholesaling, and a unique Partnership Flip system.
I get tired of hearing investors who spend a huge sum of money on weekend seminars from out of town flipping gurus. I have no issue with people spending money on their education, but from my experience in real estate and other businesses, the majority of out of town gurus provide very little value. I put together this course with Derek to give you a local investor who is actively flipping, knows the Denver market, and has an infrastructure in place to help people learn to flip.
The goal of this course is to give you the entry-level knowledge needed and some local connections.
Course Price: Free
Completely free. No ads, no upsells, no affiliate links. Just good content! Rather than spending your money on a course, use it to help buy a deal.
Why do I give it away for free? One reason is that I genuinely enjoy creating content and teaching. It'll spark conversations and debates that I always learn from. Plus, the more I give, the more I get. Providing valuable information grows my network which increases deal flow and new clients. My goal is to make money from real estate investments and doing deals, not selling "how-to" information.
In order to become a successful flipper, you must first understand that flipping is not a passive investment. It takes hard work and fits best for those who view it as a business even if you don’t plan to make it a full time endeavor. This first episode covers:
- Flipping reality check
- Investor success factors
- Getting your financial house in order
- Realistic expectations for all experience levels
We tackle real time Denver market trends in winter and ways it affects your flipping strategy. We also discuss the key investment metrics to use every time a prospective deal is evaluated, so you are driving in the best lane for success. This module covers:
- Keys to success: Acquisition price & ARV
- Investment Metrics: ROI, $/Day, Net Profit, Daily Burn
- ELEVATION Deal Analyzer spreadsheet - Free download at bottom of page
- Returns vs. Goals: Buying with cash, line of credit/ HELOC, or hard money
It’s too hard to find a good deal in Denver! We dispel this myth by discussing various ways to find great properties including using the MLS. We also cover the pros and cons to using direct mail, digital marketing, networking, wholesalers, and investor minded real estate agents. Learn how to source properties and leverage others’ time to create win-win relationships for deal flow year round.
This episode covers:
- Deal quadrant discussion
- Acquisitions case studies in 2019 and planning for 2020
- Investor focused agents: Your best friends
- Tap into your network to generate leads at minimal costs
Even before you close on a property and are ready to start the construction phase, it’s important to have a detailed rehab plan and a statement of work completed.
We’ll start with the first two key documents to running a successful flip. These documents have applications to smaller condos and townhomes as well as larger single-family flips. The two documents are:
- Quick Budget Rehab Spreadsheet - Free download at bottom of page
- Statement Of Work (SOW)
In our last module, we left off with the Statement of Work for a condo or townhome. This one picks up where we left off and continues with a more detailed Statement of Work for a single-family home. We move now into room-by-room budgeting and rehab details for our larger single-family flips. We’ll dive into the last two key documents to running a successful flip.
- Statement of Work (SOW) - Single Family Home
- Fixtures & Finishes (F&F)
The previous two episodes discussed the planning involved in a flip. Now it’s time to put the detailed plan into action! We discuss how to run weekly meetings with contractors, subs, and vendors and how to run a complete rehab project and only be on site 1-3 times per week. Our philosophy of addressing an issue “today” will save you multiple days or 1-2 weeks on the back end of a project. The ELEVATION contractor document suite will be discussed as well as not over-improving a property for the targeted sales price point.
This episode covers:
- Weekly project updates
- Design tips for maximum returns
- Staying on budget
- Market sensitivities
The final details of a project are the most important to a successful sale and achieving top dollar for your project price point. We discuss the nitty-gritty details of a punch list walk through with contractors and final payments. The goal is to have a win-win project wrap up so you can work with the contractor on another project while finishing on time and on budget.
This module covers:
- Blue tape punch list walkthrough
- Final GC, sub, vendor payments
- Fine points listing keys for single-family properties and condo communities
- Homestretch details: cleaning, staging, photos, MLS listing
This is the eighth and final episode in our ELEVATE Your Flip series.
There was no agenda or presentation for this episode. Rather, it was a live Q&A to answer any questions viewers had about the series or flipping in general.
- ELEVATION's Fix and Flip Deal Analyzer will help you quickly analyze potential fix and flip properties in Denver.
- ELEVATION's Rehab Pricing Estimator to help estimate rehab costs when you walk the property.
Fix and Flip Consultations
Derek and ELEVATION have three services to help investors:
- Flat Fee Consulting
- Partnership Flip
- ELEVATION Academy
Go to the Denver Fix and Flip Investing Consultation page to learn and more and schedule a call.
Three Ways to Learn
You're probably like me. You're busy, can't spend hours watching videos on your computer, and bounce around between computers, iPads, and iPhones to consume content. I'm presenting this course in three different formats. On each episode page you'll see a blue box (like the one below) with links to the 3 ways to learn (read, listen, watch).
This post is part of the ELEVATE Your Flip Course. The course gives you an introduction into fix and flipping properties in Denver.
Three Learning Options:
- Listen to episode "#126: Flip Overview - Denver Fix and Flip Course Overview: ELEVATE Your Flip" on the Denver Real Estate Investing Podcast
- Watch the YouTube video at the bottom of each module page or access the playlist on YouTube.
- Read the blog post.
All three mediums should have the same format and flow. If you're listening to a podcast but want the details on the numbers discussed, then check the show notes, and go to the blog for all the details!