Flipping houses involves buying a home, renovating it and reselling it. This means you need to save or borrow a substantial amount from a lender to purchase the home which can be time-consuming.
Think about the number of years you’d need to save hundreds of thousands of dollars to purchase the first house for flipping. Applying for a mortgage isn’t smooth-sailing either. Many lenders decline giving mortgages and if they do, it comes with various terms and conditions.
If you’re a real estate investor and wondering how to get around flipping houses while jumping all such hoops, Jake’s Flip Secrets course can help you. Jake has discovered a technique that can help investors flip houses with other people’s money. Here’s more:
Now, before you read what I have to say about The Flip Secrets course, let me let you in on a little secret: there are 2 categories of real estate: physical and digital. Imagine if you could rent out DIGITAL properties. I’m talking about renting out properties that exist ONLINE only (not in the physical world). You may not know this, but properties like this can get you much higher rent, and there are no property taxes, no repair costs, no homeowners insurance, and the profits can be MUCH greater: Digital Real Estate Video Here.
Here’s a video of my daughter’s business using this:
The course my daughter used above is much better than Flip Secrets. But since you are here to learn about The Flip Secrets course, lets get back to that:
Who is Jake Leicht?
Jake is the founder of Flip Secrets course. He is a full-time real estate investor who has specialized in purchasing and selling distressed and bank-owned properties through his OPM technique. This turn-key investment system has helped first-time homeowners and investors alike find beautiful new homes.
Jake discovered this method after finding out that most lenders are attracted to good property. Typically, real estate investors go on scouting for private lenders to fund their investment without a property in mind. Jake finds this process backward because most lenders rely on the strength of the property to determine if you qualify for a loan.
Ideally, they want a property they can cash in on higher than the loan amount to make a profit. Keep in mind; lenders place liens on properties, giving them the right to foreclose on a home if the borrower defaults on loan repayment. They know that they can cash in on a property whose value is more than the loan amount.
As such, if you find a property with low renovation costs and a high margin between the estimated resale value and purchase price, then you’re likely to get the loan approved. That’s how Jake uses the OPM method to flip homes.
So far, he has flipped over 900 properties using his unique OPM method. He’s also an advanced coach, featured speaker, and mentor who shares knowledge with many real estate investors in the house flipping market.
What is the Flip Secrets Course?
Flip Secrets course teaches you how to flip houses with other people’s money. Jake developed the course in 2018 to teach other real estate investors how to flip homes without spending their money.
You learn how to find a private lender, undervalued or distressed properties or upcoming neighborhood properties whose value is likely to appreciate within a short period.
Investors also learn about OPM financing strategies like leveraging private money lending, partnerships, and hard money lending. Here’s a brief overview of the five-week course:
Module 1: The OPM Playbook
Here, you learn how to purchase houses using other people’s money
Module 2: Lead Generation
You learn how to find potential properties of flipping and resale. Jake teaches you lead generation strategies that make it easy to find properties without breaking sweat.
Module 3: The Contractor Connection
In this module, you learn how to find the best people for the job. Flipping homes requires teamwork and working with reliable professionals helps sell a property fast.
Module 4: Exit Strategy
Jake teaches you how to sell the property, negotiate the rates, and make an exit. The module comes with a resourceful Q & A session where you ask all the questions regarding flipping homes.
The course also comes with bonus content consisting of:
- Pre-built lead generation strategies
- Tutorials about real-life implementation
- Lender-contractor templates and documents
- Access to various private lenders
- Jake’s Flip calculator
What is the Cost of Flip Secrets Course?
According to online testimonials, the cost of the program is $11,000-$30,000 and Jake doesn’t offer refunds.
Flip Secrets Course Customer Reviews
A ten-thousand-dollar program is pretty expensive hence the need to find out other people’s experience after taking it. Here’s what I found:
Learn the A-Z of Flipping Homes
This client found the course extremely resourceful given that they haven’t gone to college. They learnt all about flipping homes and are now confident they can do it.
Locked My First Home a Month After the Course
This client managed to lock in their first home a month after taking the course. In fact, they’re in the process of listing the property for sale.
Being a real-estate professional and having worked with Jake closely, this customer swears by Jake’s mentorship program. He has flipped several properties using Jake’s OPM method and advises customers to reach out if in doubt.
Should I Invest in The Flip Secrets Program? My Verdict
Flipping homes is all the rage at the moment, but raising capital is challenging for most real estate investors. Jake’s OPM strategy is a breather for such investors because they don’t have to raise the cash upfront. They only need to find a winning property, get a private lender to fund, sell it, and they’ll be smiling to the bank. I also love that Jake is experienced in the industry and has used this method many times to flip properties. Even so, I find the ten-thousand price tag hefty especially for those who are joining the market. But with such great reviews given, I’d recommend giving it a try.