How To Make $40,000 Per Deal Wholesaling On The MLS (Using A Novation)

Рет қаралды 8,968

4 ай бұрын

Learn Jerry’s exact offer formula to make the perfect offer for a novation! On this video I break down a recent deal where we made a $38,000 profit using this exact formula. I run the numbers and give you a FREE calculator where you can do it too, in seconds!
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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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Пікірлер: 55

@stevewarrene Ай бұрын

You are a Flipping Genius to the fullest and I highly respect you for providing the Novation Kit... That alone is SOOO valuable to us.

@moorelife2009 Ай бұрын

Jerry, You're a flipping genius! Thank you for the novation kit!

@DamonDumas-uz3ji Ай бұрын

Jerry, you are a flipping genius! Thank you for the Novation kit sir.

@AConservativeView 3 ай бұрын

Jerry, you're a flipping genius! Thanks Jerry!

@keirmoorman3042 4 ай бұрын

Jerry, you're a flipping genius! Thanks for the FREE ovation kit and calculator.

@Kevrow88 4 ай бұрын

I hate you made it to Novations before. Love it because now you can teach me

@jakemercer156 4 ай бұрын

You are a flippin Genius! Thanks for the kit :)

@theodoreturner9534 4 ай бұрын

Thanks, Jerry. You are a flipping genius

@y3llowduckyys635 4 ай бұрын

Your a beast Jerry!!! Thank you for the kit! 🙏

@haterprooff8202 4 ай бұрын

JERRY YOU ARE A FLIPPING MONSTER!!

@adamgonzales8031 13 күн бұрын

Great video jerry you truly are a genius! I have downloaded your novation kit. A video going over documents would be great. They are a bit different than the wholesale contract.

@RickElmendorf 4 ай бұрын

You're a flipping genius! Thanks brother!

@Prizelife 4 ай бұрын

Jerry your a flipping Genius. I just get hung up on who signs all the documents when seller is still on TITLE?

@therealnowyouknow 4 ай бұрын

Thanks Jerry! You're a flipping genius!

@haterprooff8202 4 ай бұрын

Thank you for everything you do for us. 🙏

@marcoroofing 4 ай бұрын

Jerry, you’re a flipping genius!

@kemilkerim4973 4 ай бұрын

Man..this is super brilliant!!

@sagetaluy7800 4 ай бұрын

Jerry you are a flipping genius!

@user-on9jh2oh7e 4 ай бұрын

Jerry you are a flipping genius !!

@ram24018 4 ай бұрын

Thank you Jerry. You're a flipping genius.

@Oribelll 4 ай бұрын

Jerry you are a flipping genius

@kevinhicks8100 4 ай бұрын

Jerry, Thanks for Novation calultor. You're A Flipping Genius 🎉

@MONSTEREBOOKS12338 4 ай бұрын

Jerry you're a flipping genuis!

@thejohnnaccarato 4 ай бұрын

Thank you Jerry!

@SRVinvestments 4 ай бұрын

You’re a flipping genius

@marciosendeski9271 2 ай бұрын

Thank you! You are a genius ! 😂

@digisavants 3 ай бұрын

Thanks a ton you Flipping Genius!

@PaisVeidUeyZT 4 ай бұрын

Definitely have to go through the series because it seems like everyone must be doing this and re selling before even closing the first deal somehow. Flipster puts all offers too low as well as the 70% rule. Some cash buyers want 60% not competitive at all in a hot market. I wish flipster could do this. Find the next buyer as well as calculate based on novations .

@robertcope59 4 ай бұрын

Yes I don’t see how it would be competitive in a hot market either

@PaisVeidUeyZT 4 ай бұрын

@robertcope59 definitely isn't. This novations market makes your offer highly competitive. Otherwise you can't compete in a hot market at all.

@tannerharris1483 4 ай бұрын

Sounds like you need to find better buyers.

@PaisVeidUeyZT 4 ай бұрын

@tannerharris1483 need to become a buyer myself it seems like. Since every buyer I spoke to are using this strategy. Only if the ones buying would let me find for them with there formula because they're definitely not using 70% of arv .

@tedewans415 3 ай бұрын

U the man

@AberrantArt 4 ай бұрын

Hey Jerry, do you have a video on how to do a traditional novation? Like contract a property and novate it to a cash buyer for a fee? Like an assignment but removing yourself from obligations and liability by novating the contract?

@RSSProduction 3 ай бұрын

1.) Do you have to be an agent to do Novations? 2.) Can you do this with on market properties or just only off market properties? 3.) Can you set your own profit number or does it have to be $40k always? How to determine that?

@bertwright6327 4 ай бұрын

I would love to see a video on how to use transaction funding.

@digisavants 3 ай бұрын

Hey Jerry, I followed your tutorial but the calculator isn't showing me the MAO. How do I adjust it to show? Thanks in advance flipping Genius!

@bertwright6327 4 ай бұрын

Jerry, you are a flipping genius! I will definitely download your novation kit. Here is my question (If the answer is not already in the novation kit)...You're marketing a property on the MLS. Are you listing it as a FSBO? I'm curious how you get around the licensing requirement, if it is even needed in this case. Are you assigning the contract or actually "selling" the property?

@christiannengle 4 ай бұрын

I think he’s licensed or using a listing agent and im sure a agent is willing too work together because its a win win for all involved

@prudencerosaldo6939 4 ай бұрын

Jerry is a RA also got his Broker's license after that sometime ago. Jerry is a Flipping Genius❤🎉😊!

@FlippingMastery 4 ай бұрын

Explained here - kzfaq.info/get/bejne/pq6Vq8qWmc24pIE.htmlsi=3ZcHcmqt4JIaEEbE

@luke31ish 2 ай бұрын

Did you pay the seller his $180k upfront, and then market the house on MLS? Or did the seller wait for you to sell first?

@mrtolliver 3 ай бұрын

Does the seller ever feel some type of way or even call when they see it listed on the MLS for $30k, $50k or even more?

@WiseOneSun 4 ай бұрын

Perhaps I missed this part jerry, but what was the seller initially asking for his property?

@FlippingMastery 4 ай бұрын

I think $190k

@derekwester6259 4 ай бұрын

great information as always, but the ending comparison doesnt work... if one got it at a low cash offer of 123k, and the as is value is 246, that means the ARV is even higher... probably closer to 300k, maybe 330k - that means there is certainly more than 10-15k in profit for an assignment. This could still go to a flipper at 165 (40k profit to you), where they would put in 40k of renovation (205 total now), sell it at 300k, pay 20-30k in fees, and net 70k

@FlippingMastery 4 ай бұрын

yea good point... if ARV is $300k and repairs are $40k then... ($300k x 70%) - $40k rehab - $15k wholesale = $155k cash offer. So $155k cash for traditional wholesale vs. $180k for novation. The point is you can pay the seller a lot more and make a lot more.

@derekwester6259 3 ай бұрын

for sure, Im tracking that the main point is getting a higher price to the seller to hopefully help them out and close a deal. its tough working with a hypothetical because then almost anything works when we dont know the actual ARV and the actual rehab costs.. could be more but certainly could be less.. and youre the pro here not me lol :) !.... however, this example should still be a good one either way right.. 300k arv - 21k (7% closing cost) = 279k - 40k rehab = 239k - 30k profit to investor = 209k - 30k profit to the wholesaler = 179k purchase price. Maybe even upwards of 40k+ if less is needed in rehab@@FlippingMastery Regardless, thanks for the info and the knowledge drops with all your content! its fun to work through the numbers with all kinds of examples!

@robertcope59 4 ай бұрын

My main question is why would a seller sell their as is house at such a discount. Why wouldn’t they just keep it on the market and make the money themselves