Everyone says they have a ‘secret’ way to do whatever. FAIL. Here’s a flippers secret even they sometimes don’t learn for years.
Transcript: Hi this is Jeff Brown the “BawldGuy”. Today, we’re going to talk about that dirty little secret that flippers usually learn only as they begin to get older. It’s sort of a good news bad news joke. They create a lifestyle they never dreamed they’d be able to have but they have no retirement and they can’t stop working. I had one successful flipper one time in his early 50s say he felt like a highly-paid slave. I’m going to warn you because here comes a captain obvious solution. He needed to start a new portfolio of long term investments. When you’re in your 50s and you’ve been creating this great lifestyle for yourself. You’re making hundreds of thousands of dollars. You used to slave over one fix up and it took you three or four or five months and now you’re doing three or four or five a quarter. Your lifestyle is so improved but so as your cost of living. Then what you’ve figure out and a lot of times too late for many flippers is that they are now our prisoner. They’ve got themselves in a situation where their very successful but they are locked into a cell of that success. They need to figure a way to create long term passive retirement income. They’re not really sure how to do it. I’m going to tell them to do this. Start segmenting a dedicated portion of after-tax short-term profits over to long-term debt very quickly. They do this by acquiring that long-term debt through buying long-term properties. Duh, right? As profits allow, they should start a long-term investment portfolio. Depending on the size of the periodically available after-tax profits, they can decide to buy more or just pay off what they’ve already bought. In any case, along the way the flipper can also begin buying discounted note for themselves and or their retirement plan. Look, I’m going to keep this short today. I just wanted to let flippers know that there’s a light at the end of a tunnel. It’s not a freight train speeding your way. Next time, we’ll talk about how these very successful flippers can use many strategies synergistically to turbo charge their results and retirement. There is no reason they need to panic. Oftentimes, they can end up retiring on as much as they’ve been making all along. I really hope this has helped. I hope this has put a smile on at least one flipper’s face. This is Jeff Brown, the BawldGuy. I’ll catch you next time.