Our guest Sam Weaver, President of Fortune Weaver sat down to speak about his experience when he started out in Real Estate Investment. One of the most important lessons he spoke about was that he really learned to listen especially when dealing with distressed homeowners. There are many homeowners in the country dealing with hardship and learning to not speak so much and listening more was a huge lesson for him because a lot of times it is common for people to always want to talk and get their messages across but really getting to understand where the other person is coming from and being able to solve problems is key.
Another lesson we picked from Sam Weaver on ways to invest and flipping housing was- do not be afraid of major flips on houses. It is possible to spend money and buy a house and have the house flipped and then sell the home to make money. Utilizing fix and flip loans from financial institutions is one of the most important key investing basics when it comes to properties. Some developers implement a buy and hold strategy which is a great long term investment strategy. One incident in particular he spoke about a property that had been involved in a murder scene, it was gory, and he did not think he could get on with working on the property. So he declined the opportunity and his partner, later on, did the flip and made a profit of over $100,000. The lesson here is simply- unlike green investments from traditional investment vehicles such as stocks, mutual funds or endowments, in flipping properties, the best deals/ investments are the ones you may be walking away from!
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