During this HyperFast Wealth segment of the HyperFast Agent Podcast, host Dan Lesniak speaks with Chris Clark, a real estate investor who quickly grew his company from zero to twenty-four deals a year. Chris shares insights about how to find capital for deals, how to find off-market deals, and how to use the MLS to get free leads. If you’ve ever considered flipping, this episode is packed with helpful advice.
Episode Highlights:
- Chris Clark is a real estate investor who started out just two years ago. He quickly did enough flips to quit his day job.
- Chris shares where he finds capital for deals. He suggests always using commercial financing in some capacity and raising equity from networking events as well as family and friends.
- Once you understand how the majority of investors are raising capital, then you will know how to pitch.
- Chris shares what his first deal was like.
- Dan and Chris discuss how many of the best deals are found off-market.
- Chris describes how he financed the first deal and how much construction cost.
- Many people start off in investment and sales as a side hustle. Chris gave himself two years to pursue investing part-time. He quit his day job after 9-10 months when he saw the potential for growth.
- Chris describes the biggest deal he did in the first year he was working full-time.
- His typical flip rarely adds square footage. Usually, they keep the existing structure but gut the house. These are usually from 1200-3000 square feet and from $80k-300k.
- Chris has purchased several properties off the MLS and he was able to get good deals by making an offer quickly and then implementing a follow-up system.
- One of his go-to techniques is to come up with an exact number that shows he has plugged his numbers and there's a reason he has arrived at that number.
- If you're negotiating directly with the seller you're trying to get more of what their motivation is and understanding why they're selling.
- Really study what your local market is doing. Drive down those comps.
- Keep learning as much as you can.
- Chris shares his answers to the HyperFast Round.
3 Key Points:
- Investing often begins as a part-time pursuit. When Chris began focusing on his investing full-time, his business doubled almost immediately.
- When you’ve done a good job networking as an investor, people will start coming to you to see if you have opportunities available.
- Looking for leads on the MLS doesn’t have to be a waste of time.
Resources Mentioned:
- Learn more about Hyperfast Academy; HyperFast Coaching
- Dan Lesniak bio, Facebook, Twitter
- Chris Clark Instagram
- Summit Realty Group website, Instagram, Facebook