How To Fix & Flip Houses WITHOUT Using A Dime Of Your Own Money!

Рет қаралды 26,562

2 жыл бұрын

Lack of capital prevents a lot of people from buying, fixing and flipping houses but it shouldn’t. On today’s video I’m going to break down for you exactly how to flip houses with 100% funding, even if you’ve never done a deal before. That means none of your own money in the deal. And when I say 100%, I mean 100%
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Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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#FlippingHouses #WholesalingHouses #FlippingGenius

Пікірлер: 137

@saffolddorrettgmail 10 ай бұрын

Jerry..you are a flipping genius. Thank you for all you do. Jeez. I have already spent over $40K to invest in myself in REAL ESTATE INVESTING. My school loan is over 150K. I have a few masters in education. Now I'm as broke as a church mouse. I'm. also an older person who joined quite a few MENTORShips. nothing like you and your devout friends.(Pace&Jamil)I'm using this opportunity to scale back a couple of years so I can help myself to help others. Watch me scale back a few years. lol I'm on rapid. I sweat through more than 80 of your videos. Also, Pace and Jamil's video. For me, REAL ESTATE IS AN ALL OR NOTHING LAW. This is my life now.

@EKY_GUY_JAKE 2 жыл бұрын

Thanks for all the free game and educational real estate content. Plus a video like this really helps real estate entrepreneur in the beginning stages of their careers like myself. Because I definitely don't have good credit, I don't have a degree, I don't have a job, and most importantly I don't care!! Because.... with the DEDICATION and right INFORMATION you can do a deal and REPEAT and... without any of those other things above. And because of great educational videos like yours Jerry I have the information, it's just the biggest and most important part of being successful is.... THE DEDICATION OF JUST DOING THE HARD WORK THAT IS NEEDED TO BE DONE!!!! PERIOD!!..... AND I HATE TO BE MEAN, BUT I HAVE TO BE HONEST... MOST PEOPLE AREN'T SUCCESSFUL BECAUSE THEIR LAZY! IT'S AS SIMPLE AS THAT...... THANK YOU JERRY, FOR ALL YOUR AWESOME CONTENT. ITS DEFINITELY ADDED GREAT VALUE TO MY REAL ESTATE CAREER.

@EKY_GUY_JAKE 2 жыл бұрын

@flippingmasterytv Thanks for the acknowledgement! Looking forward to our Interview sir!! 😎👍💪

@BulldogAllatymeRRO 2 ай бұрын

Jerry I love it, you’re a flipping genius.

@jcreynolds92 2 жыл бұрын

Jerry, I love it. You're a flipping genius

@anthonymcmillian7541 2 жыл бұрын

Jerry. I love it ! You are a flipping Guinness!

@autodealingdavid7817 2 жыл бұрын

Jerry I love it! You are a flipping genius ‼️

@JasminRoseBloom 2 жыл бұрын

I love how he called me out and said I’m irresponsible with my money. I couldn’t argue lol

@kennyspade1755 2 жыл бұрын

Jerry I love it Buddy! Very creative! You are a flipping genius! Peace ✌

@JamesSmith-uc8nt 2 жыл бұрын

I needed this video thank you immensely

@ikennaokoye7858 2 жыл бұрын

Jerry I love it, you are a flipping genius!

@sol33863 2 жыл бұрын

Loved it 🔥

@123consultingsllc2 2 жыл бұрын

Everyone I’ve seen including you actually require me to pay them for education before any kind of funding.

@RecklessRecordsGaming Жыл бұрын

@Jena Palmer it's a big game. Millions to be made in both courses and real estate. You can learn how to do everything on his channel. Ain't gave Jerry Norton a dime but I've just about closed on this deal and have had 2 previous deals.

@BuckeyeJackpots 2 жыл бұрын

Jerry i love it, you are a flipping genius!!! Shout out from OHIO!!

@Reshape9 2 жыл бұрын

Jerry, you are a FLIPPING GENIUS!

@_isaac_santana 2 жыл бұрын

Love the shirt. Thanks ya flippin genius

@bryanestrada3999 2 жыл бұрын

Jerry, you’re a flipping Genius ! 🙏🏽

@joesmith-vk1nx Жыл бұрын

I really appreciate you sharing your knowledge and advice for free to us folks that do not yet have the knowledge or means. Thank you.

@VeronicaGrimes_tc 11 ай бұрын

Hey! Did you ever get the help you need? I would love to help you in any way I can especially funding your transactions. Reach out anytime.

@annachampion932 2 жыл бұрын

Jerry, You're a flipping genius!!!

@EKY_GUY_JAKE 2 жыл бұрын

# JERRY I LOVE IT YOUR A FLIPPING GENIUS!!!

@worldtraveler303 2 жыл бұрын

Wow! You gave me an idea!

@maxwellpinamang4350 2 жыл бұрын

Jerry...you're a flipping genius. What are your go to hard money lenders?

@ralphejoh0160 2 жыл бұрын

Love it I need your help

@VeronicaGrimes_tc 11 ай бұрын

Hey! @ralphejoh0160 ,How are things going now? If you need help with anything including funding your transactions, I can be a resource for you. Reach out anytime!

@IMARBAN 6 ай бұрын

I'm all in 😊 Genius FLIPPER JERRY ❤

@johnwaltman8673 Жыл бұрын

Mannn I know people who’ve been working for years & don’t have $1000 in they bank account

@VeronicaGrimes_tc 11 ай бұрын

@johnwaltman8673, How things are going now? I can help walk you through the process, hand if you need help with funding your transactions, I can help with that as well.

@ENTREPRE-MOMMY 2 жыл бұрын

Another question. Which contracts are used to do a seller finance? I found a deal on flipster that would be a great sf.

@VeronicaGrimes_tc 11 ай бұрын

@ENTREPRE-MOMMY, How are you since your last post? Did you get your questions answered? I can be a resource for you or even funds your transactions if you need it. Feel free to reach out!

@tjjones7890 2 жыл бұрын

Jerry, I love it, you're a flipping genius! Pregunta, what if you need funding for a different state??I currently love in TN but have a flip in Guanica PR!

@FlippingMastery 2 жыл бұрын

www.hardmoneyloansolutions.com/hard-money-loans-bridge-financing-for-puerto-rico/

@tjjones7890 2 жыл бұрын

@@FlippingMastery Perfect, Thanks so much bro! Would love to partner on PR, I know you're too busy for the smaller properties, but I'm not 🤝🏽

@Fps_junky333 2 жыл бұрын

personal loan for people with even average credit may also be an option as well.

@chrisgrosse8256 2 жыл бұрын

Jerry I'm lost how are you paying them back monthly if the deal haven't sold yet

@kylekorczynski7235 2 жыл бұрын

Jerry, love the idea BUT most lenders WILL in fact give 80-90% LTV but as far as construction cost will not reimburse you until construction is completed. Or you can set up draws. What would you recommend for someone who doesn’t have the money to front for rehab cost to contractors

@VeronicaGrimes_tc 11 ай бұрын

@kylekorczynski7235, How are you since your last post? If you ever need help with funding your transactions, I would love to help. Reach out anytime.

@VeronicaGrimes_tc 11 ай бұрын

Hey @kylekorczynski7235! Did you get the help you're needing? I would love to help you in any way I can including funding your transactions if you need it. Reach out anytime!

@MrsDubb 2 жыл бұрын

You're still a flipping genius! I've heard of ways where you can get paid upfront by borrowing enough money to cover your profit. How does that work?

@samsmith4901 5 ай бұрын

Hi jerry, I am wholesaling houses on market and almost have a deal locked in. However, the agent asked for a hard proof of funds letter. What would a hard money lender want in return for such a thing?

@WorldCupChampionArgentina 2 жыл бұрын

Great video! Anyone know how to get the cost of capital calculator ?

@sxo2685 2 жыл бұрын

Hey Jerry can you do a video of how you give your contingency’s to agents when putting together a contract. It’s at a point to where I feel like I’m scared to even get the contract because I’m not sure how to add those contingency’s when wholesaling on market.

@superglen99 2 жыл бұрын

Tell the agent to give you a 15 days inspection contingency that allows you to cancel for any reason with a full refund of any earnest money you put down.

@waynekellett8465 2 жыл бұрын

🙏👏 LOVE IT 💪🏁

@JoshCorby18 2 жыл бұрын

Does the LTC include closing costs?

@user-ej6oz8hn2j 6 ай бұрын

Jerry I like it.

@airbornerc51 2 жыл бұрын

Jerry, Do hard money lenders have issues doing their funding with an LLCs? As in it's my LLC taking out the loan vs me personally.

@FlippingMastery 2 жыл бұрын

LLC is usually fine

@daviddub 2 жыл бұрын

LLCs are not only fine, but almost always necessary for HMLs for investment properties.

@benconfluence9801 Жыл бұрын

This video is killer.

@valleystylez1 2 жыл бұрын

What about the reserves most hard money lenders require you to have in the bank?

@jadielalessandrocallechalc7435 2 жыл бұрын

Good question… they ask for a proof of funds two months at least

@daviddoten6729 2 жыл бұрын

why not just do 100% funding from private lenders? then there are no points carrying costs or junk fees - so 200k in funding to buy and fix and flip at say 8% interest rate = 16k funding cost for everything - paid in full at the 286k sale. so 286k at sale minus 216k total cost for funding = 70k profit to me for getting the deal and doing all the work. 16k in 5 months for the lender is good too for just lending and collecting. it is all backed by mortgage and promissary note - so for lending 200k either they make 16k or they will get the property worth 286k arv if i fail to perform . win win deal.

@manoftheyearkp7158 7 ай бұрын

Bro do you know what times we living in right now? The average person don't even got 5000 in any account. So what makes you think somebody will have 40k to loan out?

@FlippingMastery 7 ай бұрын

That’s not true. 40% of all homes are owned free and clear. You need to hang around different people

@hustlebusinessrecords2720 Жыл бұрын

Is there a way to bypass earnest money I have a deal that’s profitable but requires 8,000 EMD

@123consultingsllc2 2 жыл бұрын

They all want you to have skin in the game

@male88263 Жыл бұрын

Qurstion is if I go your route and get a loan today, when do I start making payments back????

@VeronicaGrimes_tc 11 ай бұрын

@male88263, How are you? If you ever still need help with funding your transaction, I can help. Reach out anytime.

@VeronicaGrimes_tc 11 ай бұрын

@male88263, How are you since your last post? Did you get your questions answered? I can be a resource for you or even funds your transactions if you need it. Feel free to reach out!

@Justice-cx3rh 3 ай бұрын

Jerry, you are awesome and I follow your content. However, you just broke down the funds needed. Yet still no real solution for the extra money. In my market, our average home before renovation is minimum $500k. It's not easy to get $150k liquid private money from "grandma" in addition to hard money. I have yet to find a solution for mid to higher end markets. All advises are based on 200-300k deals. What would you do to get low to high 6 figure private money loan?

@chasecline5918 2 жыл бұрын

Thank you for this genius idea! Can I Borrow 50$ for my first flip?

@VeronicaGrimes_tc 11 ай бұрын

@chasecline5918, if you ever need help with transactions funding, I can be a resource for you. Reach out any time.

@VeronicaGrimes_tc 11 ай бұрын

@chasecline5918, if you ever need help with transactions funding, I can be a resource for you. Reach out any time.

@winterry1 2 жыл бұрын

All I want to know is what he used to grow his hair back.

@rain1011well 9 ай бұрын

Yep. Flippin' Genius. Thanks for helping us reach our goals, and putting all this out there. Karma will reward you !

@jpast456 2 жыл бұрын

😎

@swannvirassamy8273 2 жыл бұрын

So, if I understand correctly. First, you get a hard money loan. But the collateral for the hard money loan is the property. How can the property also be collateral for the private money loan ? Is the loan backed up because I would have 20% equity because the hard money only finances 80% of the deal ?

@Davidtheentrepreneur 2 жыл бұрын

Theres lien positions. 1st place and 2nd place Liens

@FlippingMastery 2 жыл бұрын

hard money - 1st lien position private money - 2nd lien position

@swannvirassamy8273 2 жыл бұрын

@@Davidtheentrepreneur thank you!

@albertoorioste8679 2 жыл бұрын

I still don’t understand

@swannvirassamy8273 2 жыл бұрын

@@FlippingMastery all right, thank you ! I'm a working on my first flip at the moment, gonna go visit the property next week, if this works for me, that'd be amazing !! I'll let you know if it works ! Thanks !

@robbrownstone 2 жыл бұрын

Third grade math...it really is that easy. DO IT!

@YouloveJay 2 жыл бұрын

where do you get the money to even pay contractors to fix the deal in the first place?

@VeronicaGrimes_tc 11 ай бұрын

@YouloveJay, How are you? I can help walk you through the process. Also if you need help with funding your transactions, I can help with that as well. Reach out anytime.

@VeronicaGrimes_tc 11 ай бұрын

Hey! @YouloveJay , How are things going now? If you need help with anything including funding your transactions, I can be a resource for you. Reach out anytime!

@GeorgiaMade404706 2 жыл бұрын

Today’s hard money lenders are more like 80-90% of LTC and 60-70% of LTV. With 2-4 points and 9-15% APR + $1500 junk fees. 600 or better credit score. 3-6 months bank statements and 2 years tax returns. You’re better off going with bank or credit union financing

@Jeanyuhzz 2 жыл бұрын

Please define the abbreviation for LTC & LTV

@GeorgiaMade404706 2 жыл бұрын

@@Jeanyuhzz LTC = Loan To Cost. LTV = Loan To Value.

@ttownsupreme2183 2 жыл бұрын

Jerry you are a flipping genius..btw...am I crazy for thinking why doesn't everybody to 5-10 flip projects taken on every month if the funding (both hard and private) can be sourced.

@FlippingMastery 2 жыл бұрын

Exactly! That’s how I did 40 flips a year and made over a million with none of my own money

@jillbowden9103 2 жыл бұрын

I have great credit ..own 2 houses totally paid for , plus flipping my 1st house now that is paid for ..and I CANT FIND PRIVATE MONEY! Banks want 2 yrs income (Im retired from self employment) ..they say my debt to income isnt enough to loan me more than about 40,000 on a refi of one of my homes! I have 3 more houses I know I could get and flip rt away if I could find reasonable funds..should I wholesale them to raise some cash??

@VeronicaGrimes_tc 11 ай бұрын

@ttownsupreme2183, How are you since your last post? If you ever need help with funding your transactions, feel free to reach out

@ttownsupreme2183 2 ай бұрын

@@VeronicaGrimes_tc Literally just saw this post on my email.Thank You.And I hope that offers till stands.

@foxxy2017 Жыл бұрын

Can I flip the house into a rental property instead

@VeronicaGrimes_tc 11 ай бұрын

@foxxy2017, How are you since your last post? If you ever need help with funding your transactions, I would love to help. Reach out anytime.

@superglen99 2 жыл бұрын

Who is gonna trust you though? I'd be more afraid of losing a friend or family members money than a hard money lenders who I don't know. My dad has a huge amount of capital but he's retired and I can't risk his money.

@ptamukum Жыл бұрын

Jerry hi. I have a great deal and need funding asap...don't wanna wholesale...want to fix and flip...

@damianq32 Жыл бұрын

Hi do you still need a loan

@VeronicaGrimes_tc 11 ай бұрын

@ptamukum, How things are going now? I can help walk you through the process, hand if you need help with funding your transactions, I can help with that as well.

@joshuacoleman4451 2 жыл бұрын

Im Lost like the little boy Jerry!

@hvelez73ful 2 жыл бұрын

Ok, I need $50,000 to flip a house, can you borrow me the money?

@heronleal3582 2 жыл бұрын

is this the money you need to repairs ? what about the money to buy the house ?

@forrealtyler 2 жыл бұрын

@@heronleal3582 LTC = Loan-To-Cost (ALL COSTS) Purchase, Rehab, Permits, etc..

@hvelez73ful 2 жыл бұрын

@@heronleal3582Hard Money

@hvelez73ful 2 жыл бұрын

@@heronleal3582 Yes to repairs.

@hvelez73ful 2 жыл бұрын

@@heronleal3582 In Massachusetts.

@franklincruz8223 2 жыл бұрын

Thank you for cheating with us about fix and flipping formula. I looking forward to learn more

@denajahthomas7407 2 жыл бұрын

what if I dont know anyone who would lend me money?....

@VeronicaGrimes_tc 11 ай бұрын

@denajahthomas7407 , How have things been going since your last post? I'm looking for someone needing my help. I am a transaction coordinator and would love to help you in any way I can including funding your transactions.

@VeronicaGrimes_tc 11 ай бұрын

@denajahthomas7407, How are you? If you need help with any of your transactions including funds, I can help you. Feel free to reach out. Veronica Grimes

@morenokid12 Жыл бұрын

why did he find a way to fit dick jokes in there... hilarious but silly.

@danfowers9661 2 жыл бұрын

This video just hurt my head 😂😂

@Zeeno 2 жыл бұрын

How do you mean

@aerobins12994 2 жыл бұрын

Couldn't you do just do a separate personal loan for the last 20%? Instead of asking a family member or something.

@kevinlopez7360 2 жыл бұрын

If you have good credit then yes

@VeronicaGrimes_tc 11 ай бұрын

@aerobins12994, How are you? Did you get the help you're needing? I can help you if ever you need it especially with funding your transactions. Feel free to reach out!

@deboulos31 2 жыл бұрын

Nobody is going to loan someone $40k that easily!!!! You’re giving people false hope especially newbies in the game! If you don’t have at least $50k in the bank cash don’t flip houses period!!! Don’t rely on other people cuz most won’t help

@FlippingMastery 2 жыл бұрын

Ok you’re right. It doesn’t work. It’s too hard. You should do something else.

@zunetrav4 Жыл бұрын

This is business. You have to be able to sell yourself and convince others to invest in you, it’s how almost any company starts and I’d argue it’s why most fail.

@Nunyabizzness86 Жыл бұрын

@@FlippingMasteryI don't know a single person that has $40k to just loan out and it won't hurt them. I get what you're saying but it's shitty to make it seem like everyone has connections with someone who has $40k just sitting around. Some of us are trying to be the one to break the cycle that many if not all of our family and friends have been stuck in for generations. For some of us ourselves are literally the only person we have to turn to.

@SWAVOURKID Жыл бұрын

@@Nunyabizzness86 join a RIA or a community

@rc3mixtapes884 11 ай бұрын

@@Nunyabizzness86me

@eliasserrano6519 2 жыл бұрын

You lost me at total carrying cost.

@tortriks 2 жыл бұрын

contents getting really repetitive man. Change it up some for the day 1’s. Maybe more live phone calls or something?

@michaelbryan4618 Жыл бұрын

Hey Jerry, can I borrow $40,000? :)

@VeronicaGrimes_tc 11 ай бұрын

@michaelbryan4618, How things are going now? I can help walk you through the process, hand if you need help with funding your transactions, I can help with that as well.

@mrtravelguy7867 2 жыл бұрын

Hopefully you can answer. What if it’s your first time flipping? Will Hard Money loan the funds, for first timers? @jerry

@FlippingMastery 2 жыл бұрын

Yes

@VeronicaGrimes_tc 11 ай бұрын

Hey @mrtravelguy7867, How are you since your last post? Did you get the help you're looking for? I would like to be a resource for you especially funding your transactions if you need it. Feel free to reach out.