173: Flipping 100+ Houses in an Expensive, Competitive Market with Steve Jones | Bigger Pockets Podcast
House flipping can be incredibly profitable and fun — but for many people, trying to make it work is next to impossible because of the high cost of homes. That’s why on this episode we’re excited to chat with Steve Jones, a house flipper from Southern California who has flipped over 100 deals in his neighborhood. Steve’s advice is rock solid for anyone looking to grow their real estate business — and you are going to love his advice about open houses. Steve’s perspectives just might change how you do real estate forever.
In This Episode We Cover:
Thoughts on investing in Southern California
How Steve got started in real estate
The first home he flipped
What exactly a “condo conversion” is
How he’s done over 100 flips so far
How Steve finds his deals
What you should know about looking for hidden value
Steve’s formula for evaluating a deal
How he flips a deal
What he typical spends on a normal rehab
The worst flip he’s ever done
How to think with the buyers in mind
Tips for getting an A-team contractor
How to learn from contractors
The importance of developing a thorough scope of work
Why deals are relationship based
How to calculate land value
What happens when people lose their money
Things that he loves about flipping houses
The “slow flip”
Becoming an expert on your neighborhood
And SO much more!
Links from the Show
Fake F***ing Flowers (video)
BiggerPockets Calculators
Books Mentioned in this Show
Rich Dad Poor Dad by Robert T. Kiyosaki
Why We Buy: The Science Of Shopping by Paco Underhil
Tweetable Topics:
“We always bring the indoors outdoors — and bring the outdoors in.” (Tweet This!)
“You have to have an appetite for risk.” (Tweet This!)
“Your best price is always going to be your first price.” (Tweet This!)
Connect with Steve
Steve’s BiggerPockets Profile
Steve’s Company Website
Steve’s Instagram
Steve’s Twitter
Learn more about your ad choices. Visit megaphone.fm/adchoices
