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What you’ll learn in just 17 minutes from today’s episode:
- Learn about this investment strategy that has Bill making more money and allows him a two-hour workweek
- Find out the best marketing tactics and strategies for generating deal leads in volume
- Learn how to pay attention to every small win and make it count and finally make it big
Bill Allen is a Navy pilot and real estate professional. He is the CEO and owner of 7-Figure Flipping and host of the 7-Figure Flipping Podcast.
A few years ago, Bill was only flipping 1 or 2 houses per year and doing all the work himself. Now, he’s built a systematized business that runs without him. His wholesaling and flipping company, Blackjack Real Estate, is based out of Nashville, TN, and does upwards of 200 deals a year with a staff of 15.
In this episode, Bill shares the investment strategies he started early on in his real estate venture and how he eventually focused on one thing and scaled it up. He also talks about the mistakes newbies make in the industry and how to avoid them.
01:09 – What his life looks like now after years of hard work
01:51- The investment strategy he started with and other deals he is busy with at this time
02:33 – Wholesale deal versus a flip deal
04:08 – Why wholesaling business is totally different from a flipping business
06:07 – How he does his fix and flips these days
08:40 – Of hiring a mentor and a team
11:39 – Mistakes newbies are making in real estate
14:23 – When to hire people to help you run the business
17:49 – Paying attention to every small win and finally making it big
“What I recommend to everybody out there is get good at what you do and focus.” – Bill Allen
“We were making a bunch of money wholesaling houses because the business was automated and systemized. And then we were kind of breaking even or potentially losing some money on the flips just because they were taking too long, and things would come up, and we weren’t focused on it.” – Bill Allen
“I’ll say the most important thing is consistency. We’re consistent with our marketing. And that’s where a lot of people slip up.” – Bill Allen
“I found out my weakness, I hired out my weakness first and leaned into my strengths, which were numbers, KPIs, back-end systems, automation, marketing, things like that.” – Bill Allen
“We’re so afraid to lose money that we’re not willing to go do anything. Like you get stuck, this analysis paralysis is a real thing.” – Bill Allen
“I think we got to get to a point where there are equal amounts of kind of education and understanding and also like real-world information and activity, so you got to go out and take action.” – Bill Allen
“Just get out there and take some action and do something. And don’t be afraid of looking or feeling like you don’t know what’s going on. Sometimes that’s okay; you’ll learn as you go.” – Bill Allen
“There’s this uncertainty of like when to hire people. And so, if you have some money, and don’t have any time, you have to. If you want to do the business and not create another, I created a second full-time job when I didn’t have some help. And it’s a challenge, it really is.” – Bill Allen
“If you don’t have any money, but you have a lot of time, then you could potentially be that person that goes and help somebody else, get to that next level where you learn.” – Bill Allen
“You need to spend time looking at the small wins. And so, I was looking at the small wins like we got this many calls, we have this many leads, we have this many people in follow up like this offer is so close. We were doing, we’re making moves, we see progress. So, in there, I wasn’t as concerned because I knew the dam was going to break eventually.” – Bill Allen
“I’m very analytical, very numbers-driven like that feedback loop is so important, what you’re telling yourself in your head. And if you’re saying I still don’t have a deal. I’m a failure; that’s the problem. I was going; we’re making progress. I’m looking back in the rearview mirror from a month before, and I can only recognize myself. Like now, I’ve been in 10 houses. I made ten offers I’ve talked to sellers. I’m so close. I almost got that deal. Like I knew it was coming.” – Bill Allen
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