I actually started flipping in 2008. I decided I wanted to flip houses so I approached a friend of mine that was 10 years older who owned a mortgage company and instead of blowing his money he invested it, very smart business man that can see opportunity. I knew nothing about how to buy at auction. He said we could flip one together but first I had to prove I knew what I was doing. I went to auctions all day for weeks to study how the process works. I got into real estate when I was 20 so I have extensive knowledge of property value. You make the money when you buy, not when you sell. I had like 30k from stocks but we had to come up with 60k. We borrowed against credit cards to cover the difference, very scary. So we bought and flipped our first place, a condo, and after all costs I made a net profit of $13,000.00 that is above 20 percent roi in 90 days which is 80 percent annualized. My partner was happy so he said let's do it again. The second project was a big one. I interviewed contractors and went with the cheapest, terrible mistake, you get what you pay for I learned!!!!! I spent 6 miserable months with a job I can do today in 30 days. At the end of all that work I made $6,000.00. Partner was not so happy. The deal was, he put up the $$ I did the work. In 2008 I did 3 flips, 2009 4 flips. It got better and better every time. My partner said he would give me a huge opportunity based on my proven track record with him. He said if you can find the deals he can find the money. In 2012 we flipped 17 houses. This year 2013 we have closed 14 year to date and currently own 17 either listed, under construction or in escrow. We are on track to do 50 this year, of course I have hired my 5 best friends to work for me so the growth has been great. Today that investor is a 50/50 business partner. We both have all our money invested together and have grown our fund to 4,000,000 cash so no hard money on the first $4,000,000 invested. So, I didn't start with a lot of money, I proved myself and grew a business based on my business plan and track record. All the profits you see on show are real but I split that with my partner. They don't show that on the show because its confusing for the audience to understand.
By far the best contractor is Israel Battres from Battres construction, such a great honest man! Currently I am flipping my first house in irvine on 114 coral rose, it's a 1 bedroom condo in turtle ridge. I sent the initial home camera video over 3 years ago, it's been a long time!! I started filming the actual show January 2012, I just finished my last interview yesterday although for the last 2 months I haven't filmed to often other than interviews. The shows are not in order but the ones we just aired are over the summer.
So bottom line I was a kid from Buena Park and got into real estate at 20, made a lot of money, than lost it all. The difference is, I never stopped making payments, I have percent credit. When I couldn't afford the payments I sold the items. I never short sold or had a car taken away, I sold everything. I had a 90k Mercedes and an escalade and a beautiful home. I sold my cars and bought a Honda civic, that was a day I will never forget. I have worked for and earned everything I have and have learned valuable lessons along the way. Please watch and I hope you enjoy the series!