16 Oct $800,000 Profit on One Deal? Yes Sir.
October 16, 2020
Tucker Merrihew just made $800,000 in one flip.
Do I have your attention yet?
No, this isn’t some HGTV show where the flippers are about to lose their shirt yet somehow a bidding war breaks out and suddenly they make $800,000.
This is real life, and it’s a real business making deals like these happen.
So are YOU ready to make these deals happen? All you need is ….
OK, pump the brakes, hold your horses, and bend the ear. While the end result is obviously exciting, there are a few steps you need to take to get there. And you may never get to that level. But know that it is possible, if this is what you want to do.
Tucker spent years building his business, honing his craft. He went through rough times, good times, more rough times, made mistakes, and made good choices along the way.
Through all that, the most important decision Tucker made was to keep learning about his business and to share his knowledge. He was a mortgage broker right before the real estate apocalypse (as he calls it) in 2008, self-funded his first flip almost out of necessity and desperation, learned to flip REOs and how to properly evaluate properties, went through general contractors (GCs) until he finally became a GC himself, developed his own software app for investing (and learned lessons about who not to hire), ventured into new construction, and moved up in target markets until his company, TTM Development, now primarily works in flipping high end properties around Portland.
Tucker has his mastermind program and two podcasts (The Portland Real Estate Podcast and The Real Dealz Podcast) he uses to help other real estate investors learn to do what he has accomplished. He constantly works with other people to help them realize their dreams. And even with his successes, he still buys other mastermind programs and sessions so he can continue to improve himself and his businesses.
So after you have all that in place, you can do an $800,000 profit deal, right? Maybe.
If you do everything with INTENTION, you will succeed. Tucker organizes his entire business around intent — where they market, the formula they use to select properties, the financing/numbers on a project, his podcasts which have outlasted many others, his mentoring, etc. You can’t walk half-heartedly into real estate investing. You have to be fully committed, or it might drive you crazy enough to be committed.
Don’t be afraid to ask for help. In fact, seek it out. Ask others for information and their experiences. Instead of trying to figure everything out, seek out tried and true methods. Build relationships; they will pay off down the road. Get the training to help you be successful. And know that you don’t have to go for the $800,000 profit flip right away. In fact, you probably won’t be able to for a variety of reasons, the biggest being it’s tough to get financing for those kinds of projects.
Just get started. Join local organizations and build contacts and relationships. Find mentors and teachers, attend conferences, and learn, learn, learn. You can do it, and as Tucker demonstrates, you can be very successful. You will have setbacks, unexpected things will pop up, and you will have great surprises. You just have to commit, be focused, and put in the work, both on the property and on yourself.
Watch the full podcast with Tucker Merrihew on the Real Estate Disruptors YouTube channel here: https://www.youtube.com/watch?v=TjF6KD0R-8Y&t=80s