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Ep 086: Should you take on new flips? | Joe Rose
04:49 – Before getting into the real estate business, Joe was on a truck. He delivered Coca-Cola and beer. When he was able to save money, he took a class and courses to get his real estate license.
07:28 – Joe said that the biggest advantage of joining a franchise is that basically everything is done for you. They will setup your marketing portals, your social media portals and everything funnels through them and then comes back to you.
12:17 – Having a franchise is more expensive than doing it on your own, says Joe. Initially you are able to acquire more and have those acquisitions early on, but what to do with those assets is a different story.
15:50 – If Joe could go back to the start, he said that he would not go the franchise route again. He explains why.
17:39 – Joe said that he has a pretty good track record for getting what they want from a property and that is just by knowing the ARV. What they don’t know now is how our current situation is going to effect those ARV’s.
21:06 – Right now it is way too early to try to figure out if there is going to be any major market adjustments, says Joe. He also added that in six to eight months from now we will be able to reflect and see what happened in the market during this time frame.
23:10 – Joe said that right now he’s navigating a lot of different things and learning about other options like Airbnb, buy and hold, and what the market is going to do for us.
24:25 – Joe said that he’s probably the worst guy to network, he just doesn’t do it. But he’s changing that aspect because he knows he has to. He also added that this is the prime time for him to network because everybody in the industry is looking to each other to learn other methods and options and incorporate some of those ideas into their own business.
26:58 – Adapt and change to what you have in front of you because we don’t know how and when this is going to end.
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