Lee Kearney has done over 7500 flips and over a half-billion in sales and today he is on the podcast to tell us how he became one of the biggest and best house flippers in the country.
Rewind the tape to 2003—Lee did his first flip, by accident, but it was that accidental flip that gave him the real estate bug.
Fast forward to 2007—Lee has now done 50 deals and has made over $2 million and has a million and a half in equity. Then the world came crashing down with the financial crisis. In Just 12 months, Lee’s net worth went from $2 million to negative $1.5 million.
How did he come back from that?
“I’m not going to dig my way out of this hole by just sitting and doing nothing…”
Lee did not just count his losses and walk away like so many others had, he knew there was money in real estate he just had to find the right strategy… and he did.
Join us as Lee talks about the mistakes he made in his earlier days of flipping and how hiring a mentor and asking a lot of questions helped navigate him in the right direction.
Don’t be afraid to ask questions, they are not stupid questions. If you don’t know, it’s because you haven’t done it before and that’s okay.
Lee delves deep into:
- How he made a comeback through the wholesale strategy
- How he went from being a real estate investor to a real estate business
- The importance of building processes, using the right tools, and hiring the right team
- Lessons learned in scaling quickly
- How he leverages market cycles
- The importance of due diligence and data collecting
Plus, find out why Lee says that building a rental portfolio at the peak of the market is some of the worst advice he has seen, and so much more!
Lee didn’t make his fortune by focusing on one just strategy, his success was the result of grit, tenacity, and his knowledge and ability to leverage the market cycles.
Listen in as Lee shares the details of how he became successful in real estate, in a big way!
TIP OF THE WEEK
Scott: Check out RealTimeBoard.com—now Miro.com.You can create a virtual whiteboard where you can coordinate your team.
Lee: “Become more efficient with your time. Don’t waste time on things that don’t create revenue.“
Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?